The global market size of metal stamping was value at 225.10 billion at 2018 and is expected to reach 303.67 billion by the end of year 2026. The market is estimated to grow at a CAGR of 4.37% over the forecast period.
The expanding technical innovation and advancement in the automotive sector is the main factor that is driving the growth of the worldwide metal stamping market. The worldwide metal stamping market discovers its use in sideboards, sections, hats, rooftops, holders, and so forth, in the case of the automotive sector. The rising demand in aerospace, consumer electronics, electrical & electronics, defense, engineering machinery, and telecommunication are some factors that are driving the demand for target product and growth of worldwide metal stamping market. The advancement of metal stamping of cutting edge has created a dynamic draw for the development of the worldwide metal stamping market. In addition, the use of bites the dust is optional therefore it spares time and reduces the expense for the organization. The expanding utilization of different procedures exceptionally casting and manufacturing during the construction of metal as they produce quality items and furthermore have the adaptability in being utilized in the formation of substantial and heavy metals and furthermore the high cost of crude materials are some challenges for the worldwide metal stamping market.
Blanking represented the biggest market share in 2018 and is foreseen to be the quickest growing segment with a CAGR of 4.7% during forecasted years. Advantages offered by this procedure, for example, more prominent dimensional precision and quick production rate, are anticipated to add to its demand. This system is used in customized stamped parts which are made to fabricate complex boards in vehicles. The procedure is likewise utilized in the assembling small joints, hinges, for casting a hole or any required shape in a component.
Embossing is projected to observe a huge development in the Asia Pacific region attributable to substantial scale assembling of automotive parts. The embossing segment is likewise prone to observe development in the North America market because of the presence of various stamping organizations and OEMs in the region. The developing extent of utilization, for instance, embossing of dashboards in the premium automotive sector, is projected to remain a key supporter in the growth of the segment.
Based on material, steel stamping market captured the worldwide market in 2018 attributable to easy and high accessibility of steel, high quality, minimal effort, and low cost. On the other hand, aluminum stamping market is estimated to register a quick growth during the estimated time frame. The rising growth of this market is essentially credited to the rising interest from the aerospace and automotive sectors to keep fuel expenses and weight down.
Market Segmentation, By Process:
Market Segmentation, By Material:
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Market Segmentation, By Region:
Asia Pacific emerged as the biggest regional market, in terms of revenue share, in 2018 and is projected to enlist the highest CAGR of 5.0% from 2019 to 2025. According to the reports of OECD, Gross Domestic Product (GDP) in Asia is anticipated to grow at a CAGR of 6.3% from 2018 to 2022.
Increasing investment in India and China are boosting the growth of domestic ventures in these nations, subsequently supporting market growth. Customer gadgets organizations, for instance, Samsung, Sony, LG, Hitachi, Panasonic etc., have set up their assembling offices in developing economies to lessen the manufacturing costs. This is likewise expected to drive market growth in the coming years.
Developing usage of sheet metal in the production of automotive transmission chassis, component, and basic segments are anticipated to drive the market. Additionally, expanding extra cash upheld by developing populace has brought about fast urbanization, particularly in the developing economies of the Asia Pacific, Middle East, and Africa, and Latin America.
This is estimated to fuel the demand for automotive over the projected time frame, along these lines driving the market development. Developing nations, for instance, India, China, South Africa, and Brazil, are projected to be the noticeable nations in their particular regional markets over the coming years.
Major companies contributing the global metal stamping market are Alcoa, Inc.; Manor Tool & Manufacturing Company; Acro Metal Stamping; D&H Industries; Klesk Metal Stamping, Inc.; Kenmode Precision Metal Stamping; Clow Stamping Company, Inc.; Lindy Manufacturing Co.; and Aro Metal Stamping Company, Inc.