Global Metal Forming Market, By Technique (Roll Forming, Stretch Forming, Stamping, Deep Drawing, Hydroforming, Others), Application Type (BIW, Chassis, Closures, Others), Electric and Hybrid Vehicle Type (Fuel Cell Electric Vehicle (FCEV), Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)), ICE Vehicle Type (Passenger Car, LCV, Truck, Bus), Forming Type (Cold Forming, Hot Forming, Warm Forming), Material Type (Steel, Aluminum, Magnesium, Others) – Industry Trends and Forecast to 2029.
Market Analysis and Size
Metal forming has become one of the most important application in automotive industry. The rapidly growing fuel economy along with the implementation of stringent emission norms are increasing the need for several automotive services such as metal forming.
Global Metal Forming Market was valued at USD 214.30 billion in 2021 and is expected to reach USD 382.19 billion by 2029, registering a CAGR of 7.50% during the forecast period of 2022-2029. Stamping accounts for the largest technique segment owing to its wide application and being the most cost-effective forming technique. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Metal forming is a manufacturing technique that involves applying forces to raw material to bend it into the required shape. The force that is applied to the workpiece and the tools is known as friction. Superior products are beneficial to the end-user industry.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 – 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Technique (Roll Forming, Stretch Forming, Stamping, Deep Drawing, Hydroforming, Others), Application Type (BIW, Chassis, Closures, Others), Electric and Hybrid Vehicle Type (Fuel Cell Electric Vehicle (FCEV), Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)), ICE Vehicle Type (Passenger Car, LCV, Truck, Bus), Forming Type (Cold Forming, Hot Forming, Warm Forming), Material Type (Steel, Aluminum, Magnesium, Others)
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Countries Covered
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U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
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Market Players Covered
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Bradbury Group (UK), Formtek Moulding Solutions (South Africa), Mestek Machinery (US), Avic Manufacturing Technology Institute (China), VNT Automotive GmbH (Austria), Westway Machinery (Canada), Benteler International AG (Germany), AES Automotive Company Pvt. Ltd. (India), Toyota Boshoku Corporation (Japan), Samco Machinery (India), Aisin Seiki Co. Ltd (Japan), Heck Industries (US), Wuhan Huagong, Schuler India Private Ltd. (India), Magna International Inc. (Canada), Drexler Companies Inc. (US), Hirotec Corporation (Japan), CIE Automotive (Spain), among others
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Market Opportunities
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Metal Forming Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rise in the automotive industry
Customization and personalization of a product is a global trend, and the automotive industry has also seen considerable demand for customization of cars. This is likely to increase market demand for metal forming market.
- Increasing demand for recreational vehicles
In the automotive refinish industry, the increased demand for recreational vehicles in developed nations should also play a role which is driving the automotive refinish market.
- Increased Vehicle Production
The increase in the demand for high performance and reliability of automobiles among consumers further influence the metal forming market. The rise in demand for these enhanced vehicles escalate vehicle production.
Additionally, expansion of the automotive sector, surge in investments and increased disposable income extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
Opportunities
Furthermore, sales of electric and hybrid vehicles extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, adoption of hydroforming techniques will further escalate the market growth.
Restraints/Challenges
On the other hand, requirement of capital investments for new entrants to set up metal forming process is expected to obstruct market growth. Also, increase in the usage of composites in automotive applications is projected to challenge the metal forming market in the forecast period of 2022-2029.
This metal forming market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on metal forming market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Metal Forming Market
The COVID-19 had a negative impact on the metal forming market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for automotive speciality coatings market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the metal forming market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Global Metal Forming Market Scope and Market Size
The metal forming market is segmented on the basis of technique, application type, electric and hybrid vehicle type, ICE vehicle type, forming type and material type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technique
- Roll Forming
- Stretch Forming
- Stamping
- Deep Drawing
- Hydroforming
- Others
Application Type
- BIW
- Chassis
- Closures
- Others
Electric and Hybrid Vehicle Type
- Fuel Cell Electric Vehicle (FCEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- ICE Vehicle Type
- Passenger Car
- LCV
- Truck
- Bus
Forming Type
- Cold Forming
- Hot Forming
- Warm Forming
Material Type
- Steel
- Aluminum
- Magnesium
- Others
Metal Forming Market Regional Analysis/Insights
The metal forming market is analysed and market size insights and trends are provided by country, technique, application type, electric and hybrid vehicle type, ICE vehicle type, forming type and material type as referenced above.
The countries covered in the metal forming market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the metal forming market because of the rise in the environmentally friendly and low VOC products and strict regulations and changing consumer preferences within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of occurrence of various leading vehicle manufacturing companies and growing production of luxury, compact and mid-size vehicles in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Metal Forming Market Share Analysis
The metal forming market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to metal forming market.
Some of the major players operating in the metal forming market are
- Bradbury Group (UK)
- Formtek Moulding Solutions (South Africa)
- Mestek Machinery (US)
- Avic Manufacturing Technology Institute (China)
- VNT Automotive GmbH (Austria)
- Westway Machinery (Canada)
- Benteler International AG (Germany)
- AES Automotive Company Pvt. Ltd. (India)
- Toyota Boshoku Corporation (Japan)
- Samco Machinery (India)
- Aisin Seiki Co. Ltd (Japan)
- Heck Industries (US)
- Wuhan Huagong, Schuler India Private Ltd. (India)
- Magna International Inc. (Canada)
- Drexler Companies Inc. (US)
- Hirotec Corporation (Japan)
- CIE Automotive (Spain)
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