Automotive Metal Forming Market
Automotive Metal Forming Market by Technique (Roll Forming, Stretch Forming, Stamping, Deep Drawing, Hydroforming, Others) by Application (BIW, Chassis, Closures, Others) by Material (Steel, Aluminum, Magnesium, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
Global Automotive Metal Forming Market: Technique Segment Analysis
- Roll Forming
- Stretch Forming
- Deep Drawing
Global Automotive Metal Forming Market: Application Segment Analysis
Frequently Asked Questions
the global demand for Automotive Metal Forming
in terms of revenue?
The global Automotive Metal Forming valued at 178.23 Billion in 2020 and is expected to reach 213.58 Billion in 2028 growing at a CAGR of 4.27%%
are the prominent players
in the market?
The prominent players in the market are Hirotec Corporation, Multimatic Corporation, AES Automotive Company Pvt. Ltd., Benteler International AG, Quintus Technologies AB, Mills Products Incorporated, VNT Automotive GmbH, Kaizen Metal Forming Pvt Ltd., CIE Automotive SA, Aisin Seiki Co. Ltd., Vari-Form Corporation, Tower International, Toyota Boshoku Corporation, Kirchhoff Group, Superform Aluminium..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 4.27%% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Automotive Metal Forming include
- The increased fuel economy and emission regulation is anticipated to augment the growth of the market. Most of the OEMs have increased the use of lightweight materials such as aluminum and composites in order to reduce fuel consumption since they consume low energy during acceleration. The proper selection of design, material, manufacturing, and assembly will result in required light weighting. Aluminum is considered as one of the most efficient lightweight materials in the automotive industry and is manufactured by forming techniques; this inclination of weight reduction will drive the automotive metal forming market.
- The rising sale of electric and hybrid electric vehicle (HEV) market is expected to augment the growth of the automotive metal forming market. This is owing to the rising concerns of global warming and air pollution and government support to reduce air pollution are driving the BEV market. Furthermore, better fuel efficiency, increased driving range, and lower greenhouse gas emissions are driving the growth of the HEV market.
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Automotive Metal Forming in 2020.