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The Global Metal Stamping Market size is forecast to increase by USD 40.18 billion. The market is estimated to grow at a CAGR of 4.87% between 2023 and 2028. The market experiences robust growth driven by factors like rapid industrialization in APAC nations. Precision metal stamping offers significant benefits, further fueling market expansion. With the widespread adoption of sheet metal across various end-user industries, the market witnesses a steady rise in demand for metal stamping solutions. This market research and growth report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Market Forecast 2024-2028
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The market serves diverse industries such as construction, automotive, medical, electricals & electronics, and industrial machinery. Metal stamping finds extensive applications in producing gears, bearings, housings, brackets, and metal frames across these sectors. With the rising demand for precision-engineered components in industries like automotive and electronics, the metal stamping market experiences steady growth.
In the market, various industries leverage metal stamping for diverse applications. In the electronics sector, metal stamping is crucial for manufacturing components such as speakers, gamepads, controllers, and antennas, ensuring precise fabrication to meet performance standards. Additionally, in the telecommunications industry, metal stamping produces chassis and camera lens holders for mobile devices, supporting the GSM Association's initiatives to enhance connectivity worldwide. The defense industry relies on metal stamping for the production of specialized components, including aluminum hoods and chassis for military vehicles and equipment. Across industries, the metal stamping process encompasses various techniques such as blanking, embossing, bending, and coining, with equipment like mechanical and servo presses ensuring accuracy and efficiency. With a focus on precision and durability, metal stamping addresses diverse needs across sectors, offering solutions tailored to specific thickness requirements and applications. Overall, it plays a vital role in supporting industrial operations and innovation across the globe.
The market share growth by the automotive segment will be significant during the forecast period. The automotive industry is the primary end-user of the global market as stamped metal parts are deployed in almost every system of automotive vehicles, ranging from fuel delivery systems to airbag components of a vehicle.
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The automotive segment was the largest and was valued at USD 40.09 billion in 2018. The global market in the automotive industry is expected to grow during the forecast period. Factors such as the increasing demand for passenger cars, growing preference for EVs/hybrids over internal combustion engines (ICE), and rising adoption of hot stamping technology are expected to drive the demand for metal stamping parts in the automotive industry during the forecast period. Thus, factors such as increased spending on new production facilities in emerging markets and rising investments in major car-producing countries like China, Japan, and India are expected to fuel the demand for motor-stamped parts in the automotive industry, thereby driving the growth of the global market during the forecast period.
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APAC is estimated to contribute 37% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The growth of the automotive manufacturing industry in APAC can be attributed to the expanding consumer base in the region. The rising demand for automobiles has led multinational companies to set up manufacturing plants. Further, the aerospace and defense industry in APAC is expected to register significant growth during the forecast period. In 2023, China allocated USD 230.3 billion for the defense budget, which was the second-highest allocation for the defense budget in the world. An increase in defense spending will support China's increasing focus on developing new military capabilities, such as stealth fighters, aircraft carriers, and anti-satellite missiles.
In addition, China has entered the commercial aircraft manufacturing sector to meet the domestic and global demand for aircraft, which will drive the growth of the global market during the forecast period. In India, the government undertakes initiatives to attract FDI in its aerospace and defense industry. Thus, the regional market is expected to grow during the forecast period.
The market is thriving across various industries, including construction, medical, automotive, electricals & electronics, and industrial machinery. These processes produce essential components like gears, bearings, housings, and brackets used in diverse applications. Stainless steel and metal frames are key materials, crafting vital parts for mobile phones, headphones, speakers, and gamepads. Antennas, chassis, and camera lens holders benefit from precise metal stamping techniques. With the rising demand for innovation and durability, metal stamping caters to sectors like the defense industry, producing aluminum hoods with advanced techniques like embossing, bending, coining, and mechanical or servo press operations to achieve precise thickness and quality. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Rapid industrialization in APAC countries is the key market driver. Rapid industrialization in countries such as India, Japan, China, and South Korea is increasing the demand for metal-stamped products in APAC. The presence of favorable government initiatives such as Made in China 2025, Manufacturing 3.0 by South Korea, and Productivity 4.0 by Taiwan is creating a lucrative market for metal stamping products in APAC. Other noticeable factors, such as the growth of the automotive, electrical and electronics, aerospace and defense, power, and consumer electronics industries, will also increase the adoption of metal-stamped products in the region.
Moreover, the huge population base in the APCA countries and growing economic conditions with supportive government initiatives is fueling industrialization, which is expected to fuel the growth of the global market during the forecast period.
Growing focus on renewable energy is the key market trend. Greenhouse gas (GHG) emissions have a detrimental impact on the environment. One of the major sources of such emissions is the use of traditional fossil fuel-based energy to generate power. Implementing renewable energy-based power generation techniques will reduce GHG emissions as they employ clean natural resources such as hydrogen, hydro, solar, and wind to generate electricity. Developed and developing countries such as China, India, Germany, and the US have created and are introducing new, environmentally sustainable initiatives that promote the use of renewable sources of power. They are also implementing legislative measures to support energy-saving practices.
For instance, countries such as Japan offer zero-interest loans to finance renewable energy projects. The Government of the US is working to minimize carbon emissions by 83% by 2050. The decreasing tariff on solar photovoltaic (PV), concentrated solar power (CSP), and offshore wind projects will contribute to the development of subsidy-free solar and wind farms in these countries. Thus, the growing focus on renewable energy is expected to positively affect the growth of the global market during the forecast period.
Fluctuation in metal prices is the major challenge hindering the market's growth. The market depends on large volumes of ferrous and non-ferrous raw materials such as iron, steel, aluminum, and other alloys. Fluctuations in the prices of such raw materials have a direct impact on the production cost of stamped metal products. Such fluctuations also affect the profitability of companies. Hence, they have a significant impact on the revenue generated by the market. The cost of these materials fluctuates mostly because of scarcity and inflationary pressures. Metal prices have constantly fluctuated in the past few decades due to the growing demand from end-user industries as well as economic growth and the subsequent decline.
However, most prominent companies opt for derivatives or seek to establish long-term fixed-price contracts with suppliers to minimize the risk of commodity price volatility. However, such strategies may not be feasible for small companies that lack enough financial resources. Hence, fluctuation in metal prices is expected to negatively affect the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Caparo - The company offers metal-stamping products such as CNC Controller, Automatic Pallet Changer, MS Cutting machines, SS Cutting machines and more.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including AAPICO Hitech Public Co. Ltd., American Axle and Manufacturing Holdings Inc., American Industrial Co., Caparo, CIE Automotive SA, Clow Stamping Co., D and H Industries Inc., GESTAMP AUTOMOCION SA, Goshen Stamping Co., Harvey Vogel Manufacturing Co., Kenmode Inc., Klesk Metal-Stamping Co., KOBAKIN J Co. Ltd., Magna International Inc., Manor Tool and Manufacturing Co., Metrican, Nelson Miller, Tempco Manufacturing Co. Inc., thyssenkrupp AG, and Wiegel Tool Works Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market serves diverse sectors including the construction industry, medical industry, electricals & electronics industry, and industrial machinery industry. It is integral for producing a wide range of components such as gears, bearings, housings, and brackets used in various applications. Industries rely on metal stamping for manufacturing stainless steel and metal frames utilized in products like mobile phones, headphones, speakers, and gamepads & controllers. Additionally, it plays a crucial role in producing antennas, chassis, and camera lens holders. With the GSM Association reporting the global number of unique mobile subscribers, the metal stamping industry ensures high-quality production through processes like blanking segment, embossing segment, bending process, and coining process using mechanical press segment and servo press technologies, maintaining precise thickness in the metal stamping process.
The market continues to evolve with technological advancements and automation, catering to various industries such as automotive, electronics, and healthcare. High-demand products like aluminum hoods and high-strength steel components are manufactured using specialized processes including blanking, embossing, bending, and coining. In the medical sector, it plays a crucial role in producing medical devices, including implantable devices, surgical tools, and diagnostic equipment used in minimally invasive surgeries. With constant innovation and adaptation to market demands, the global industry continues to thrive while meeting diverse industrial needs.
The market is witnessing significant growth attributed to several factors, including the rise in the geriatric population and the prevalence of chronic diseases necessitating medical interventions such as medical implants. Standardization of processes ensures consistent quality across various applications, with the blanking process serving as a fundamental step in metal stamping. Steel remains the preferred material, with material thickness and press type being critical factors in determining product specifications. End-use industries span from automotive giants like General Motors to the consumer electronics industry, highlighting the market's diverse applications. With a focus on innovation and efficiency, the market continues to meet evolving industrial demands while maintaining high-quality standards.
This market growth and trends report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.87% |
Market Growth 2024-2028 |
USD 40.18 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.11 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AAPICO Hitech Public Co. Ltd., American Axle and Manufacturing Holdings Inc., American Industrial Co., Caparo, CIE Automotive SA, Clow Stamping Co., D and H Industries Inc., GESTAMP AUTOMOCION SA, Goshen Stamping Co., Harvey Vogel Manufacturing Co., Kenmode Inc., Klesk Metal-Stamping Co., KOBAKIN J Co. Ltd., Magna International Inc., Manor Tool and Manufacturing Co., Metrican, Nelson Miller, Tempco Manufacturing Co. Inc., thyssenkrupp AG, and Wiegel Tool Works Inc. |
Market dynamics |
Parent market analysis, market analysis and report, market forecasting, Market Trends and Analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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