Henry Paul

Metal Stamping Market Growth & Trends The global metal stamping market size is expected to reach USD 310.69 billion by 2030, expanding at a CAGR of 4.7% over the forecast period, according to a new report by Grand View Research, Inc. The increasing production of automobiles is anticipated to drive the demand for metal stamping as it is used in the manufacturing of car body panels, transmission components, and interior and exterior structural components. Automobile consumers are shifting their focus towards lightweight vehicles on account of rising concerns about environmental pollution. According to LMC Automotive, U.S. light vehicles sales reached around 14.5 million in 2020 and are expected to reach nearly 15.8 million by 2022. The growing demand for lightweight vehicles is encouraging auto component manufacturers to increase their production capacities and engage in new product developments. Metal Stamping Market Segmentation Grand View Research has segmented the global metal stamping market on the basis of process, application, and region Based on the Process Insights, the market is segmented into Blanking, Embossing, Bending, Coining, Flanging, Others. The blanking segment held the largest revenue share of more than 32.00% in 2021. Blanking is an integral part of manufacturing automobiles on account of its precise and superior stamping ability. The technique involves the use of a die to obtain the desired shape. The growing use of blanking in the automobile industry on account of its ability to cater to mass production lines is expected to augment segment growth over the coming years. Embossing was the second-largest segment in 2021 owing to its advantages, such as the ability to produce different patterns and sizes, depending on the roll dies. This is done by passing a metal sheet or strip between rolls of the desired pattern. Embossing a sheet metal reduces friction, increases stiffness and rigidity, and enhances traction. The bending process refers to pressuring a metal onto a plane surface to provide the desired shape. The bending process is cost-effective when used for low or medium quantities of metals. The bent parts are utilized in several applications, such as wheels, door hinges, and engine assembly, in automobiles. Coining is a cold working process that uses extreme force to plastically deform a metal workpiece such that it conforms to a die. A gear-driven press, a mechanical press, or a hydraulically actuated press are used in this process. It was earlier used in the minting of coins but with the growing complexity in the designing of automobiles, the coining process is now being used in metal stamping as well. Based on the Application Insights, the market is segmented into Automotive & Transportation, Industrial Machinery, Consumer Electronics, Aerospace, Electrical & Electronics, Telecommunications, Building & Construction, Others. The automotive & transportation segment accounted for the maximum revenue share of more than 35.5% in 2021. The automotive industry including passenger vehicles, Light Commercial Vehicles (LCVs), heavy trucks, buses, and coaches use metal stamping parts in manufacturing body panels to maintain safety standards and control end-costs. According to the International Organization of Motor Vehicle Manufacturers, the global production of LCVs and heavy trucks reached 17.2 and 4.3 million units respectively in 2020. High volume production is expected to foster the growth of the market for metal stamping in automotive applications over the coming years. In the aerospace industry, metal stamping is used to produce aircraft parts, such as channels and frames, for obtaining ultra-lightweight airplanes that consume less fuel. The use of metal stamping in aircraft parts manufacturing provides durability and is a cost-effective solution, which is expected to propel its demand. In addition, the growing production of commercial and fighter aircraft is expected to drive the market over the coming years. The industrial machinery segment is expected to witness significant growth over the coming years on account of the growing industrialization in the developing and emerging economies, such as India, China, Brazil, and South Africa. In the agricultural industry, stamped components are used to manufacture automated processing equipment. Metal stamping companies, such as D&H industries, are investing in R&D to provide advanced stamping technology for agricultural equipment. The developments in the agricultural industry are anticipated to boost market growth over the forecast period. In telecommunications, metal parts are used in the manufacturing of antennas and the outer body of telecom products. The demand for metal stamping parts is witnessing growth in the telecommunications industry as they enhance the durability of telecom products. The availability of advanced technology along with the high demand for premium telecom products is anticipated to augment the market growth over the coming years. Metal Stamping Regional Outlook North America Europe Asia Pacific Central & South America Middle East & Africa Market Share Insights May 2020: Ford Motor Company had to pause its production at its Chicago Stamping Plant to complete enhanced cleaning and follow safety protocols for COVID-19. Key Companies Profile & Market Share Insights The global market is extremely competitive with the presence of numerous small- and large-scale players in the industry. The local players compete with the companies catering at the global level based on services and customized products. The local players can provide personalized customization services to their clients as well as possess the capability of providing standardized products to the major industrial machinery producers, automotive OEMs, and consumer electronics manufacturers. Some of the prominent players operating in the global metal stamping market include, Acro Metal Stamping Manor Tool & Manufacturing Company D&H Industries, Inc. Kenmode, Inc. Klesk Metal Stamping Co. Clow Stamping Company Goshen Stamping Company Tempco Manufacturing Company, Inc. Interplex Holdings Pte. Ltd. CAPARO Nissan Motor Co., Ltd. AAPICO Hitech Public Company Ltd. Gestamp Ford Motor Company Order a free sample PDF of the Metal Stamping Market Intelligence Study, published by Grand View Research.