The global metal stamping market is expected to exceed USD 180.0 billion by 2022, according to a new report by Grand View Research, Inc. Growing metal stamping requirement in infrastructure development particularly in emerging economies is expected to drive market demand.
The industry is characterized by R&D investments by companies to improve metal stamping processes. Rising energy costs have generated importance for high efficiency metal stamping machines. Further, stamping failures such as tearing and wrinkling affect overall operational costs. The industry has witnessed development of hybrid electromagnetically assisted sheet metal stamping technology that reduces failures by controlling strain distribution during stamping process. Such technological advancements are crucial for overall industry development.
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Further key findings from the study suggest:
- Coining process generated market revenue of USD 17.03 billion in 2014 and is expected to exceed USD 20.0 billion by 2022 growing at a CAGR of 4.9% from 2015 to 2022. Emerging countries of Asia Pacific promise abundant growth opportunities for industry participants in terms of new product development and technological innovations.
- Rising demand for electrical & electronic equipment in emerging economies including Malaysia, Indonesia, Taiwan and Korea on account of increasing disposable income is expected to fuel market growth over the forecast period.
- Aerospace metal stamping market accounted for 10.4% of the total market in 2014. The segment is expected to lose share to other potential applications such as automotive and E&E over the forecast period. However, increasing commercial aviation sector is expected to foster metal stamping demand over the next seven years.
- North America was the largest market for metal stamping in 2014 with revenue exceeding USD 35 billion. The large share can be attributed to presence of a large aerospace and automotive industry in the region. However, shift in manufacturing base to Asian countries is expected to result in North America losing market share over the forecast period.
- Central & South America demand is expected to grow at a CAGR of 5.3% from 2015 to 2022. South American light automotive industry is anticipated to grow at an annual rate of over 3.0% which is expected open new avenues for the metal stamping market. In June 2012, Kenmode Precision Metal Stamping launched a Spanish-language version of their website in order to expand their support and company business to over 300 million Spanish consumers.
- Key market participants include Alcoa Inc., Acro Metal Stamping, Manor Tool & Manufacturing Company, Lindy Manufacturing, D&H Industries, Kenmode Precision Metal Stamping, Klesk Metal Stamping Inc., Clow Stamping Co., Aro Metal Stamping, Tempco Manufacturing, Interplex Industries Inc., Caparo India and Goshen Stamping Co., Inc.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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