Metal Forming Market

Market Overview:

The metal shaping is a process in which the metal is plastically deformed to a desired shape and geometry. For this purpose, a force is exerted on the metal, which exceeds the elastic resistance of the metal, so that the metal does not show any temporary change in shape, but undergoes plastic deformation. This applies to the metal to give them a rigid, individual, and desired shape and appearance. There are training tools, such as English wheels, brushing hammers, sheet presses, and many more, which acquire the desired function and performance during training. There are many candidates for final applications for this process. Of automotive, construction, industrial and aerospace engineering. The automotive metal forming market was estimated at $221.9 billion in 2021 and is expected to grow to $254.01 billion by 2026, with CAGR at 2.83% during the forecast period.

Recent developments:

In January 2007, O'Neal Manufacturing Services merged with the four subsidiaries Aerodyne Alloys, United Performance Metals, Plus Ten Stainless and Vulcanium Metal International to form a high-performance metal company, United Performance Metals. In June 2016, Komaspec commissioned a Mitsubishi laser cutting machine for high precision carbon dioxide to cut metals. The new aggregate capacity will help the company meet the growing demand for metal forming products.

Market value and expected growth:

It is expected that massive industrial and manufacturing activities in regions such as APAC will control the growth of the metal forming market in the coming years. In addition, the growing demand for automation in the production process will further increase the demand for metal forming. The large-scale production of vehicles and the preference of consumers for light vehicles will influence the trends in metal formation in the near future. The forming metal market for motor vehicles is expected to grow 2.83% CAGR during the forecast period. The market is expected to reach $ 221.9 billion in 2018 and reach $ 254.01 billion by 2023.

Market drivers and restrictions:

The rapid growth of industrialization in developed and developing countries, together with an increasing number of production units in developing countries, as well as the increase in global construction and reconstruction measures, are some of the key factors driving the growth of the world market for metal forming. In addition, it is expected that the increasing demand for automation in the production process and the growing acceptance of car manufacturers for the shaping of metals to reduce vehicle weight further increase the growth of the world market to some extent.

However, high investment costs are a key factor that is likely to hamper the growth of the global metal forming market.

It is expected that the technological advances of the key players to increase the use of metal forming in the aerospace sector, industrial equipment, and machinery create potential revenue opportunities for the target market players during the forecast period. In addition, it is expected that the growing activity of expansion through strategic mergers and acquisitions by the manufacturers of the target market will continue to support part of the global market growth.

Market Taxonomy:

By Technique type:

• Roll Forming
• Stretch Forming
• Stamping
• Deep Drawing
• Hydroforming
• Others

By Application type:

• BIW
• Chassis
• Closures
• Others

By Electric & Hybrid Vehicle type:

• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

By ICE Vehicle type:

• Passenger Car
• LCV
• Truck
• Bus

By Forming type:

• Cold Forming
• Hot Forming

By Material type:

• Steel
• Aluminum

Depending on the region, the metal forming market for the automotive industry can be divided into North America, Europe, Asia-Pacific, and the Middle East and Africa. The Asia-Pacific market is expanding rapidly due to a significant customer base of a variety of industries, including automotive and agriculture. The expansion of the automotive industry, particularly in China, India, and South Korea, is expected to boost the market in the region during the forecast period.

Key participants:

The metal forming market ecosystem for automotive consists of manufacturers such as Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan), Kirchhoff (US), and CIE Automotive (Spain); OEMs such as Volkswagen (Germany), Daimler AG (Germany), Ford Motor Company (US), Hyundai Motor Company (South Korea), Toyota Motor Corporation (Japan); and equipment manufacturer associations such as Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), and European Automobile Manufacturers' Association (ACEA).

Highlights of the research report:

• Overview of key market forces that drive and constrain market growth.
• Updated analysis of market trends and technological improvements.
• Exact analysis of competitive dynamics in the market to give you a competitive advantage
• An analysis of main competitor strategies.
• A series of graphics and SWOT analysis of the main segments of the industry.
• Detailed analysis of industry trends.