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.
Metal Stamping Market Report Highlights
- The blanking segment is anticipated to progress at a significant CAGR over the forecast period owing to the increasing demand from the automotive industry on account of its precise and superior stamping ability
- The bending segment accounted for the maximum revenue share in 2021. Products manufactured using this process ensure stability and durability, thus it is mostly used in auto components
- Consumer electronics is projected to be the fastest-growing segment over the forecast period
- The growth is attributed to the increasing utilization of lightweight metal components to improve the durability of electronics
- Industrial machinery accounted for a significant revenue share in 2021 owing to the growing demand for machinery and automation to improve the efficiency of the output
- North America is expected to continue dominating the global market over the forecast period owing to the increasing production of automobiles and consumer electronics
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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.
This, in turn, is anticipated to augment market growth over the coming years. Major automobile manufacturers that have in-house component manufacturing facilities are expanding their production capacities to meet the growing demand for automobiles. Moreover, the telecommunications industry is also projected to witness lucrative demand for stamped products owing to the growing investments in 5G technology. For instance, in November 2020, FAIST Precision Suzhou announced its investment in the installation of a new die casting machine, called the FRECH GDK3200T, which will be used to run 5G projects for mass production. In the Asia Pacific, increasing demand for consumer electronics, such as mobile phones, computers, laptops, and headphones, is likely to boost the demand for metal stamping as it is used in manufacturing metal frames, such as metal headbands, which are used in headphones.
Change in consumer preferences towards enhanced audio experience along with a rapidly growing music industry, and advancement in VR technology are the major factors that are expected to drive the demand for headphones. This, in turn, is likely to propel market growth over the coming years. The market is highly competitive with the presence of local as well as global players including Alcoa Corp., Lindy Manufacturing Co., Tool & Manufacturing Company, and D&H Industries. These companies are focusing on long-term agreements, capacity expansions, and mergers and acquisitions to meet the growing product demand from potential customers. For instance, in October 2021, Shiloh Industries completed the acquisition of two stamping plants fromBenteler for the automotive business. These plants are equipped with modern precision laser cutting and hot-formed steel stamping products for the production of chassis components.
Metal Stamping Market Insights By Geographical Regions:
The Asia Pacific accounted for the largest revenue share of more than 36% owing to the increasing demand for cars and consumer electronics in the region and is expected to witness the fastest CAGR over the forecast period. The growth is majorly driven by developing countries, such as China, India, Bangladesh, Indonesia, and Pakistan, where the increasing demand for phones along with other consumer electronics is anticipated to augment the market growth. Europe accounted for a significant revenue share in 2021 owing to the established automotive industry and the growing consumer electronics industry. The region has stringent regulations on enhancing fuel economy, increasing in demand for EVs.
Industry Share Analysis By Major Companies:
The market players of the industry faced losses and had to suspend their operating lines during the COVID-19 pandemic. 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. Some of the prominent players in the global metal stamping market are:
- 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
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Metal Stamping Market Segmentation
Grand View Research has segmented the global metal stamping market on the basis of process, application, and region
Process Outlook
- Blanking; Embossing; Bending; Coining; Flanging; Others
Application Outlook
- Automotive & Transportation; Industrial Machinery; Consumer Electronics; Aerospace; Electrical & Electronics; Telecommunications; Building & Construction; Others
Regional Outlook
- North America
- U.S.
- Europe
- Germany; U.K.; France; Spain; Italy; Belgium; Denmark
- Asia Pacific
- China; India; Japan
- Central & South America
- Middle East & Africa
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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