Automotive Stamping Market Set for Rapid Growth, by 2026
Stamping is a metal working process by which a desired shape and structure of a material is achieved. This metal working process is adopted in manufacturing industries engaged in processing of hardened surfaces such as sheet metal and plastics components. Stamping process forms the base of all the building process in automotive industry as more than 80 percent of the components that make up a vehicle is produced by stamping. Both the interior structural components and the exterior build components are produced by this process.
Since 2010, the demand for automobiles has increased exponentially after the global economic downturn during 2009. This has led to an increase in demand of the stamping machines so as to meet the demand of an impending growth in the automotive sector. The increase in usage of stamping machines in the automotive sector attributed to the growth of stamped automotive parts and is forecast to expand at a increasing growth rates during 2016-2026.
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Automotive Stamping Market Dynamics
The market for stamping machines in the automotive sector is driven by reduced lead times required for manufacturing vehicles. The machines are extremely versatile as different modules can be achieved by changing the necessary die. This process has also led to reduced labor requirements as the process can be automated with the help of computers thereby reducing the labor costs. The process helps in reducing scrap wastage as precise amount of raw material is utilized. The production cost incurred in the stamping process is very low and is replacing other metal working processes such as forging and die-casting.
Automotive Stamping Market: Segmentation
On the basis of forming temperature, Automotive Stamping Market can be segmented as:
- Hot Stamping
- Cold Stamping
On the basis of Stamping process, Automotive Stamping Market can be segmented as:
- Mechanical Process
- Hydraulic Process
- Pneumatic Process
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On the basis of the number of stations required, Automotive Stamping Market can be segmented as:
- Single Tool Station
- Progressive Stations
Automotive Stamping: Regional Outlook
The Global automotive stamping market can be divided into seven geographical locations such as North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. Asia-Pacific market is anticipated to grow steeply in the stamped components, as the automotive sector in China, Japan and India is growing at a rapid pace. In Latin America, Brazil is the strongest automotive stamped components market preceded by Mexico and Argentina, due to improved production and sales of automobiles in these regions. European countries such as U.K. and Germany are also expected to grow in the stamped component market as demand for vehicles in these regions has increased exponentially.
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Automotive Stamping Market: Key Players
Some of the major players which provide the Automotive Industry with Stamping Presses are
- Schuler Group
- AIDA Global
- Orchid International
- Eagle Press & Equipment Co. Ltd.
- Hyundai Rotem
- MacRodyne Hydraulic Presses & Automation
- Santec Group
- Jier North America
- Ridgeview Industries
- Bliss-Bret Industries