The new report by Expert Market Research titled, ‘Global Automotive Body Stamping Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive body stamping market, assessing the market based on its segments like material types, technology types, vehicle types, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4.0%
The global automotive body stamping market is being driven by the flourishing automotive industry owing to the rising demand for passenger vehicles owing to the rising disposable income, increasing working class population, penetration of women in the corporate work force, and growing dependency on automobiles to carry out routine tasks.
In addition, the increasing inclination of aesthetic automobiles among the young population is anticipated to propel the market growth in the forecast period. The automotive body stamping is an economical process which requires minimum labour. This factor is anticipated to provide impetus to the market in the forecast period. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the presence of large population base and growing expansion of the automotive industry.
Industry Definition and Major Segments
Automotive body stamping refers to a process of forming, trimming, flanging, embossing, piercing, or restriking a metal sheet to get the desired shape and size. These sheets are then used to manufacture automotive body parts. These automotive body parts include hoods and fenders and outer car panels. Metal stamping crucial for an automobile to achieve an aesthetic look along with enhanced strength.
By material type, the market can be segmented into:
- Copper Steel
On the basis of technology type, the market can be divided into:
- Hot Stamping
- Cold Stamping
The significant vehicle types included in the market are as follows:
- Passenger Cars
- Commercial Vehicles
The regional markets for automotive body stamping include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The technological advancements and innovations in the automotive industry, coupled with the increasing sales of electric vehicles, are anticipated to be the major trends in the market. The increasing inclination of automotive manufacturers towards light-weight metal sheets for greater efficiency, durability, and superior designing is likely to be another key trend in the market.
Furthermore, rapid urbanisation and rising number of working-class populations will further augment the market in the forecast period. The market growth will be aided by the growing expansion of the major automotive manufacturers in the emerging economies.
Key Market Players
The major players in the market are Clow Stamping Company, Wisconsin Metal Parts, Inc., Tempco Manufacturing Company, Inc., American Industrial Co., and Wiegel Tool Works, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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