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Metal Forming Market for Automotive by Technique, Type, Application, Material, Vehicle and Region 2025


(USGovernment-News.Com, November 05, 2018 ) The metal forming market for automotive was valued at USD 217.69 billion in 2017 and is projected to grow to USD 269.01 billion by 2025, at a CAGR of 2.83% during the forecast period.The global metal forming market for automotive is booming because the rising vehicle production along with stringent emission norms and fuel economy regulations are driving the demand for lightweight materials in the automotive industry. Other than this, new metal forming techniques such as hot forming and hydroforming are making metal-formed components better and stronger.

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The growing vehicle production is one of the major driving forces behind metal forming market for automotive. In 2017, according to OICA, the passenger car production in the Asia Oceania region was around 44.96 million units. China, Japan, and India had a share of 55.2%, 18.6%, and 8.8% of the passenger car production in Asia respectively. Passenger cars are, therefore, estimated to be the largest segment of this market.

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.

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By techniques type, stamping is expected to be the largest market over the forecast period. Stamping is one of the most common forming techniques used in the automotive industry. In the automotive industry, many structural components are manufactured through the stamping process. These include closures (doors, hood, and truck) and components of BIW such as A pillar, B pillar, cross beam, and roof liner. Because of such wide application and being the most cost-effective forming technique, stamping is expected to hold the largest market.

Cold forming market is estimated to be the largest market in forming type segment and is expected to maintain its position in the metal forming market for automotive. Cold forming is one of the most conventional manufacturing processes in which components are formed using different types of forming techniques at room temperature and do not require any additional handling and carrying. Because of this, the overall cost of the cold forming process is low as compared to the hot forming process. Owing to such cost advantages, cold forming is still the major preference of OEMs across the globe.

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Because of large vehicle production in the Asia Oceania region, it is estimated to be the largest metal forming market for automotive over the forecast period. China, India, Japan, South Korea, and others are considered under the Asia Oceania region for this study. China is the largest contributor in terms of vehicle production for the Asia Oceania region. Out of the total vehicle production, China contributed approximately 24.9% in 2017. Japan is the second largest vehicle producing country and contributes approximately 8.4% to the global vehicle production. In addition to vehicle production, the trend of vehicle lightweighting is also expected to drive this market.

The metal forming market for automotive is dominated by manufacturers such as Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan). Most of the manufacturers are undertaking inorganic developments such as expansion, joint venture, and supply contract. Manufacturers should invest in new products development as it helps in the expansion of the product portfolio. For example, Kirchhoff Automotive developed a hybrid battery housing for electric vehicles. The hybrid crash-proof battery housing is made from a combination of steel and aluminum.

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