Metal forming is the metalworking process of fashioning metal parts and objects through mechanical deformation; the workpiece is reshaped without adding or removing material, and its mass remains unchanged. Forming operates on the materials science principle of plastic deformation, where the physical shape of a material is permanently deformed.
Market Analysis and Insights: Global Automotive Metal Forming Market
Due to the COVID-19 pandemic, the global Automotive Metal Forming market size is estimated to be worth US$ 245530 million in 2022 and is forecast to a readjusted size of US$ 281430 million by 2028 with a CAGR of 2.3% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Roll Forming accounting for % of the Automotive Metal Forming global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Passenger Car segment is altered to an % CAGR throughout this forecast period.
Aluminum is expected to show the fastest growth over the forecast period, by material type. It is rapidly replacing steel in many automotive applications like body in white and chassis. The usage rate (%) of aluminum for forming applications is higher in Europe and North America when compared with that in Asia Oceania. The consumer spending power and vehicle costs are higher in countries such as the US and Germany, as compared to the developing economies. Thus, automakers are increasing the use of expensive lightweight materials such as aluminum, which helps to reduce the overall vehicle weight, thus improving the performance and fuel efficiency. However, it is 35-40% costlier than steel, because of which it has a low penetration in Asia Oceania.
Global Automotive Metal Forming Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Automotive Metal Forming Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Roll Forming
Stretch Forming
Stamping
Deep Drawing
Hydroforming
Others
Segment by Application
Passenger Car
LCV
Truck
Bus
By Company
Benteler
Tower International
Magna
Toyota Boshoku
Aisin Seiki
Kirchhoff
CIE Automotive
Mills Products
VNT Automotive
Superform Aluminium
Hirotec
Multimatic
Kaizen Metal Forming
Quintus Technologies
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina