An increase in consumer electronics industry demand for headphone, gamepad and controller, speaker and phone applications is driving the metal stamping market.
NEW YORK CITY, NY, UNITED STATES, September 20, 2021 /EINPresswire.com/ – The Global Metal Stamping Market is expected to reach $ 267.47 billion by 2027, according to a new report from Reports and Data. The market is experiencing a sharp increase in demand from the electronics and automotive industries with growing needs for headsets, gamepads and controllers, mobile phones and light vehicles. However, metals are being replaced by carbon fiber and plastic composites, which act as a substitute as they help reduce vehicle weight, thus lowering the overall cost of the operation and hence would hamper demand. metal stamping for the market.
The rapid urbanization has changed the way of life of the people and in turn has increased the prevalence of the electronics industry for commercial purposes on a wide aspect, thus increasing the demand for the product in the market. In addition, the stringent regulations imposed by the government on the increased need for production of light vehicles encouraging the market to use substitute products are expected to hamper the growth of the metal stamping market.
The use of metal stamping is supported by the Ministry of Steel, Heavy Industries and Public Enterprises, Department of Commerce (Commerce) and the International Trade Commission (ITC) of the Indian government, as the market of stamping in India is the main contributor. to the entire manufacturing sector, thereby creating a demand for the product in the market. Government initiatives for the use of electric car subsidies for local manufacturers to support the growth of the electric vehicle industry are increasing the need for sheet metal use, which is likely to stimulate the demand for stamping of metal. In addition, other countries such as China, Japan and the United States are also supported by their respective governments, which helps them to maintain their position in the market and increases the potential for increased spending in the sector. metal stamping. For example, the Chinese government increased its defense budget by 7.5% in 2019 to modernize its defense equipment and launch advanced defense aircraft. The growing demand for defense equipment is expected to drive the metal stamping market over the next few years. The Asia-Pacific region is expected to grow with the highest growth rate due to the increase in the use of metal stamping.
The impact of COVID-19:
As the COVID-19 crisis intensifies, manufacturers are rapidly changing their purchasing practices and priorities to meet the demanded demand of a pandemic, which has reduced the need for stamping in the market. Over the course of a few months, there will be a series of shocks both positive and negative, as manufacturers and their suppliers respond to the changing needs of suppliers. With an unhappy global situation, the export-dependent economies of many regions appear vulnerable. Global metal stamping markets are being reshaped by the effects of this pandemic as some suppliers shut down or scale back production, due to a lack of downstream market demand. While some see their production suspended by the governments of their respective nations as a precautionary measure to fight against the spread of the virus. In some regions, markets are focusing on greater localization, looking at the severity of the outbreak and subsequent actions by different national authorities. Under these circumstances, market conditions in the Asia-Pacific regions have been very fluid, declining every week, making it difficult to stabilize.
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Major participants include Ford Motor Company, D&H Industries, Kenmode Precision Metal Stamping, Manor Tool & Manufacturing Company, Alcoa Corporation, Acro Metal Stamping, Klesk Metal Stamping Inc., General Motors, Lindy Manufacturing Co. and Toyota Motor Corporation, among others.
Other key findings from the report suggest
â¢ Based on material, aluminum material is expected to grow at a CAGR of 3.3% during the forecast period, due to its fundamental characteristics including weldability, flexibility, conductivity and bending ability. , which makes it suitable for a variety of applications.
â¢ The folding process is expected to grow at a CAGR of 3.3% over the forecast period, due to its cost effective methods that make it suitable for a variety of applications, including door hinges, wheels and l ‘assembly of engines for the automotive sector.
â¢ The automotive sector is the main contributor to the metal stamping market, which is expected to reach USD 94.68 billion by 2027. The automotive industry in the Asia-Pacific region is the largest shareholder in the stamping market of metals and is expected to hold approximately 36.0. % of the market in 2027.
â¢ Asia-Pacific dominated the metal stamping market in 2019. The region’s constant focus on cost-effective and innovative procedures adopted in the region is driving the market. According to studies, the Asia-Pacific region holds around 34.0% of the metal stamping market, followed by North America, which contains around 26.0% of the market in 2019.
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For the purpose of this report, reports and data have been segmented on the global Metal Stamping market on the basis of materials, processes, applications, and regions:
Material Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, Billions USD; 2017-2027)
Process outlook (Volume, Kilo Tons; 2017-2027) (Revenues, Billions USD; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, Billions USD; 2017-2027)
Electricity and electronics
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces Analysis. The report explores in more detail the major business players along with their in-depth profiling, product portfolio and strategic business decisions. The report has been formulated through extensive primary and secondary research and validated by analysts, industry experts and market professionals. The report also highlights recent mergers and acquisitions, joint ventures, collaborations, partnerships and product launches, among others.
The regional analysis covers the assessment of imports / exports, production and consumption ratios, supply and demand, costs, prices, estimated revenues and gross margins, as well as the presence of key players in the region. The report also offers information on revenue growth, market size, market share, the technological advancement, and the presence of key players in each region.
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The regional bifurcation of the metal stamping market includes:
North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, rest of Latin America)
Middle East & Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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