Metal Forming for Automotive: An Industry Overview 2020-2025 - Growing Sales of Electric & Hybrid Vehicles, Increasing Adoption of Hydroforming Techniques
The market is projected to rise owing to key reasons such as increasing vehicle production and growing demand for commercial vehicles.
DUBLIN, Aug. 28, 2020 /PRNewswire/ -- The "Metal Forming Market for Automotive by Technique (Roll, Stretch, Stamping, Deep Drawing, Hydroforming), Type (Hot, warm and Cold), Application (BIW, Chassis, Closure), Material (Steel, Aluminum, Magnesium), Vehicle (ICE & Electric) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global metal forming market for automotive is projected to grow at a CAGR of 3.2% from 2020 to 2025, to reach USD 202.23 billion by 2025 from USD 172.56 billion in 2018.
The key companies profiled in the study are Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan), Kirchhoff (US), CIE Automotive (Spain), Mills Products (US), VNT Automotive (Austria), Superform Aluminum (US), and Hirotec (Japan).
Global vehicle production and growing commercial vehicle demand to fuel the metal forming market for automotive
The market is projected to rise owing to key reasons such as increasing vehicle production and growing demand for commercial vehicles. On the other hand, the major factor hindering the growth of the metal forming market is the high capital cost of forming equipment.
The hydroforming market is projected to show the fastest growth by forming a technique segment
Hydroforming is one of the most advanced forming techniques used in the automotive industry. It is generally used to manufacture hollow tube structures such as manifolds, exhaust cones, and a few suspension components. As hydroforming is comparatively expensive, it is mostly used by premium car manufacturers. Due to the increasing market share of premium car manufacturers, hydroforming is expected to grow at the fastest rate. It is an advanced technique and requires a high setup cost as well as high operating costs, because of which it is expected to have a significant market in Europe and North America.
Cold forming is estimated to be the largest market by forming type and is projected to maintain its position in the forecast period
Cold forming is one of the most conventional manufacturing processes in which components are formed using different types of forming techniques at room temperature and do not require any additional handling and carrying. The cold-forming process is simpler than the hot forming process and does not require any additional setup cost. Hence, the overall cost of cold forming is low as compared to hot forming. Because of the advantages such as cost and low production time, cold forming is the major preference of OEMs across the globe.
Asia Oceania and North America are estimated to drive the metal forming market for automotive
The Asia Oceania region is projected to lead the metal forming market for automotive during the forecast period owing to the large-scale vehicle production compared to other regions. According to OICA (Organisation Internationale des Constructeurs d'Automobiles), Asia Oceania contributed about 50-55% of the global vehicle production in 2019. Vehicle production in Asia Oceania has grown substantially in the last 10 years. This increase in production comes from small and mid-sized cars in China and India as these two countries have the largest population and are price-sensitive markets. With the increase in the production of vehicles, the demand for metal forming for automotive grew at a significant rate in Asia Oceania.
This growth may have been derailed in 2020 owing to the COVID-19 outbreak. However, as per estimates, the Asia Oceania will witness growth in the forecast period owing to the successful containment of the virus in countries such as China, Japan, and South Korea. North America is expected to be the fastest-growing metal forming market for automotive. The North American region comprises countries with significant vehicle production such as Canada, Mexico, and the US. The US is the major contributor, i.e., it contributed around 65% of the overall vehicle production in North America in 2019. The North American metal forming market is dominated by key players such as the Tower International (US), Magna (Canada), and Kirchhoff Automotive (US).
Report Coverage
The report covers the metal forming market for automotive. It is broadly segmented by region (Asia Pacific, Europe, North America, South America, and the Middle East and Africa), Technique type (Roll forming, Stretch forming, Stamping, Deep drawing, Hydroforming, and Others), Forming types (Cold forming, Warm forming, and Hot forming), Material Type (Steel, Magnesium, and Aluminum), Application type (BIW, Chassis, and Closures), Vehicle Type (Passenger car, LCV, Truck, and Bus), and Electric & Hybrid vehicle type (BEV, PHEV, and FCEV).
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Metal Forming Market for Automotive
4.2 Metal Forming Market for Automotive, by Forming Type
4.3 Metal Forming Market for Automotive, by Technique
4.4 Metal Forming Market for Automotive, by Material
4.5 Metal Forming Market for Automotive, by Application
4.6 Metal Forming Market for Automotive, by Vehicle Type
4.7 Metal Forming Market for Automotive, by Electric & Hybrid Vehicle
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Global Vehicle Production and Growing Commercial Vehicle Demand
5.2.1.2 Stringent Emission and Fuel Economy Regulations for Lightweight Materials
5.2.2 Restraints
5.2.2.1 Increasing Usage of Composites in Automotive Applications
5.2.3 Opportunity
5.2.3.1 Growing Sales of Electric and Hybrid Vehicles
5.2.3.2 Increasing Adoption of Hydroforming Techniques
5.2.4 Challenges
5.2.4.1 High Capital Investments for New Entrants to Set Up Metal Forming Process
5.3 Ecosystem Analysis
5.4 COVID-19 Impact on Metal Forming Market
6 Technological Overview
6.1 Introduction
6.2 Advantages of Metal Forming Techniques Over Other Techniques
6.3 Types of Forming Techniques
6.3.1 Roll Forming
6.3.2 Stretch Forming
6.3.3 Deep Drawing
6.3.4 Stamping
6.3.5 Hot Forming
6.3.6 Hydroforming
6.4 Hydroforming: The Future of Automotive Forming
6.4.1 Advantages of Hydroforming
6.5 Additive Manufacturing
6.5.1 Advantages of Additive Manufacturing
6.5.2 Disadvantages of Additive Manufacturing
7 Metal Forming Market for Automotive, by Technique
7.1 Introduction
7.2 Roll Forming
7.3 Stretch Forming
7.4 Deep Drawing
7.5 Stamping
7.6 Hydroforming
7.7 Others
8 Metal Forming Market for Automotive, by Forming Type
8.1 Introduction
8.2 Cold Forming
8.3 Hot Forming
8.4 Warm Forming
9 Metal Forming Market for Automotive, by Application
9.1 Introduction
9.2 BIW
9.3 Chassis
9.4 Closures
9.5 Others
10 Metal Forming Market for Automotive, by Material
10.1 Introduction
10.2 Steel
10.3 Aluminum
10.4 Magnesium
10.5 Others
11 Metal Forming Market for Automotive, by Vehicle Type
11.1 Introduction
11.2 Passenger Cars
11.3 Light Commercial Vehicles (LCV)
11.4 Trucks
11.5 Buses
12 Metal Forming Market for Electric and Hybrid Vehicles, by Vehicle Type
12.1 Introduction
12.2 BEV
12.3 PHEV
12.4 FCEV
13 Metal Forming Market for Automotive, by Region
13.1 Introduction
13.2 Asia Oceania
13.3 Europe
13.4 North America
13.5 South America
13.6 Middle East & Africa
14 Competitive Landscape
14.1 Overview
14.2 Metal Forming Market for Automotive: Market Ranking Analysis
14.3 Competitive Leadership Mapping
14.3.1 Stars
14.3.2 Emerging Leaders
14.3.3 Pervasive Companies
14.3.4 Emerging Companies
14.4 Competitive Scenario
14.4.1 Expansions
14.4.2 Supply Contracts
14.4.3 New Product Launches/Developments
14.4.4 Partnerships/Joint Ventures
15 Company Profiles
15.1 Introduction
15.2 Benteler
15.3 Tower International
15.4 Magna International
15.5 Toyota Boshoku Corporation
15.6 Aisin Seiki
15.7 Kirchhoff
15.8 CIE Automotive
15.9 Mills Products
15.10 VNT Automotive
15.11 Superform Aluminium
15.12 Hirotec
15.13 Client Requirement
15.13.1 PWO
15.13.2 Ernst Umformtechnik
15.13.3 Hornlein
15.13.4 Hubert Stuken GmbH & Co. KG (Starken)
15.13.5 Stewart EFI
15.13.6 Truelove & Maclean (Acquired by SFS Group AG)
15.13.7 Metal Flow
15.13.8 Transfer Tool
15.14 Additional Companies
15.14.1 North America
15.14.1.1 Vari-Form
15.14.1.2 LTC Roll
15.14.1.3 Martinrea International Inc.
15.14.1.4 Multimatic
15.14.2 Asia Oceania
15.14.2.1 Kaizen Metal Forming
15.14.2.2 AES Automotive
15.14.2.3 JBM Auto
15.14.2.4 MIM
15.14.3 Europe
15.14.3.1 Craemer
15.14.3.2 Voestalpine
15.14.3.3 Gestamp Automocion
15.14.3.4 Quintus Technologies
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