The global automotive metal stamping market revenue is expected to expand at a lucrative CAGR over the forecast period. Growing use of lightweight metals in automobile manufacturing to enhance the efficiency of vehicle is expected to drive market growth.
The global automotive metal stamping market report has been segmented on the basis of technology, vehicle type, and region.
On the basis of technology, the global automotive metal stamping market has been segmented into blanking, embossing, bending, coining, flanging, and others (hemming, stretching, ironing, and drawing). Penetration of embossing segment is expected to grow over the forecast period. Embossing is used for engraving patterns and dates on the automotive parts and license plates.
On the basis of vehicle type, the global automotive metal stamping market has been segmented into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Light commercial vehicles segment is expected to witness steady growth over the forecast period. Growing demand for light commercial vehicles in the transportation sector is anticipated to drive market growth.
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On the basis of region, the global automotive metal stamping market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is expected to grow at rapid pace owing to rapidly growing automotive industry in the region over the forecast period. Europe is expected to be the second largest region in terms of revenue. Moreover, presence of key manufacturers in the region is expected to drive market growth.
Key players operating in the global automotive metal stamping market include Acro Metal Stamping, Lindy Manufacturing Co., American Industrial Co., Wisconsin Metal Parts, Inc., CIE Automotive, S.A., Clow Stamping Company, Kenmode Tool and Engineering, Inc., Manor Tool & Manufacturing Company, Interplex Holdings Pte. Ltd., and Goshen Stamping Co., Inc.