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The automotive body stamping plays a vital role in the production of automotive body parts. It is a process of placing a metal sheet into a stamping press to get the desired shape and size of the metal that is required in the application of automobiles. The automotive body stamping consists of various manufacturing processes such as blanking, bending, flanging, embossing, and coining among others. Various materials such as steel, iron, aluminium, copper etc. are used in stamping of automobile parts. A single sheet of metal is used to make a desired shape. Aluminium is gaining tremendous demand over the couple of years owing to its low density, high durability and corrosion resistant property. The automotive manufacturers are working towards developing light weight vehicles to reduce the fuel emission and enhance the performance of the vehicle. The increase in the sales and production of automobiles is penetrating the growth of automotive body stamping market across the world. Moreover, the growing trend of engine downsizing so as to obtain fuel efficient and light weight vehicles is propelling the manufacturers to adopt hot stamping technology and lightweight material which helps in reducing around 50kgs of the bodyweight. All these factors are expected to propel the growth of the automotive body stamping market during the future period.
Key Market Driver -
Rising trend of light weight vehicles is expected to drive the growth of the market in the future period.
Key Market Restraint -
The fluctuation in the rate of metals, high cost of production, may hinder the growth of this market.
Globally, the automotive body stamping market is segmented by material type, by technology type, by vehicle, and by geographic coverage. By material type, the market is divide into aluminium and copper steel. The application of aluminium metal in the automotive sector has largely increased since the couple of years owing to its low density, high durability and anti-corrosive nature. The usage of aluminium can potentially decrease up to 50% weight of the vehicle body. Moreover, the automotive manufacturers are working towards developing vehicles with lighter weight and enhanced performance. The material used for heavier parts such as engine blocks, chassis, powertrain and other body structures are being substituted by aluminium resulting in significant weight reduction. Thus, the increased usage of aluminium metal is ultimately surging the demand of body stamping in the automotive industry. By technology type, the segment is further bifurcated into hot stamping and cold stamping. The hot stamping technology is gaining high popularity as this method helps in the reduction of the vehicle’s body weight. This technology takes longer than cold stamping method but is more effective and reduces up to 50 to 75kg weight of the vehicle. The manufacturers are nowadays adopting hot stamping technology owing to these benefits. By vehicle type, the passenger car segment is the dominating segment and is expected to maintain its leading position in the forecast period. Globally, the rising urbanization, improvement in the standard of living, and rise in the disposable income of the people is creating high demand for passenger cars. Also, the automotive manufacturing companies are spending a high percentage on research to develop light weight components to reduce the overall weight of the vehicle as well as improve the performance. All these factors are penetrating the growth of body stamping market across the globe.
Major players operating in the global automotive body stamping market include Manor Tool & Manufacturing Company, Wisconsin Metal Parts, Inc., Tempco Manufacturing Company, Inc., American Industrial Co., Wiegel Tool Works, Inc., Shiloh Industries, Integrity Manufacturing, Clow Stamping Company, Wisconsin Metal Parts, Inc., and Interplex Holdings Pte. Ltd. Among others.
Geographically, the automotive body stamping market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest share in the global automotive body stamping market in terms of volume as well value. Developing economies such as China and India have the largest automotive stamping market as these countries are the major producer of metals such as iron, aluminium, and steel which are used for metal stamping in the automotive industry. Also owing to the high volume of sales and production of automobiles, the metal body stamping finds massive application in automotive manufacturing companies in this region. Europe is the second largest shareholder of the global automotive body stamping market owing to the presence of prominent automotive manufacturing companies mainly in Germany. North America also has a significant position in the global automotive body stamping market owing to the high volume of commercial vehicles and presence of body stamping companies in this region.
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