Global Metal Forming Market for Automotive was valued US$ 210Bn in 2017 and is expected to reach US$ 284.26Bn by 2026 at a CAGR of about 3.86% during a forecast.
Global Metal forming market for automotive is segmented into by technique, by application, by material, by ICE vehicle and by region. Based on technique, Metal forming market for automotive is classified into Roll, Stretch, Stamping, Deep Drawing & Hydroforming. In application are parted into BIW, Chassis & Closure. By Material are divided into Steel & Aluminum. In ICE vehicle are arranged in Passenger Car, LCV, Truck & Bus. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global industry Analysis and forecast 2018-2026.
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Driving factors of metal forming market for automotive are rising demand and production of vehicles. Increase in demand for commercial vehicles, government stringent emission norms, light weighting of the vehicle with best quality and rising demand for fuel economy will open new opportunity in market for metal forming market for automotive.
Lack of skilled labour and emerging competitors can hamper the growth of metal forming market for automotive.
In terms of ICE Vehicle, Passengers Cars segment shares the largest market during the forecast period. Increase in production of passenger vehicles across the globe, decline in bank interest rate, rapid urbanization and rising safety concern. It has highest application of formed components, more than that for light and heavy commercial vehicles and expansion of the automotive industry in developing countries will create more demand for metal forming market for automotive.
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In terms of Material, Aluminium segment is projected to grow at fastest during the forecast period. In trends vehicle cross-car beam, front door, oil pan, rear door frame, and seat frame are mostly made by aluminium. Future automobiles will need to satisfy stringent emission standards and the best way to do it with exciting technologies is to reduce their weight and necessary to be efficient, functional lightening â€“ meeting fuel emission guidelines. And preferably not too much costly will allow more demand in metal forming market for automotive.
Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and geographic position also have influence on favouring of aluminium. Rise in disposal income, rapid changes in regulations to make transportation more advancing on the technology front and ever increasing population of this region will create more opportunity in metal forming market for automotive. China is the biggest producer of automobiles in the world. Northern America region is projected to be the second largest Metal forming market for automotive.
Key players profiled and analyzed in the report
Hyundai Mobis, Schaeffler AG, Gestamp, Magna, Benteler, Tower International, Toyota Boshoku, Aisin Seiki, Kirchhoff, CIE Automotive, Mills Products, VNT Automotive, Superform Aluminium, Hirotec, Volkswagen, Daimler AG, Ford Motor Company, Hyundai Motor Company, Toyota Motor Corporation, Japan Automotive Manufacturers Association, GKN, Alcoa Corporation.
Scope of the Global Metal forming market for automotive:
Global Metal forming market for automotive: By Technique
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Global Metal forming market for automotive: By Application
Global Metal forming market for automotive: By Material
Global Metal forming market for automotive: By ICE Vehicle
Global Metal forming market for automotive: By region
Middle East & Africa
Key Player analysed in Global Metal forming market for automotive:
Ford Motor Company
Hyundai Motor Company
Toyota Motor Corporation
Japan Automotive Manufacturers Association