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BANGALORE, India , Oct. 31, 2023 /PRNewswire/ -- Metal Stamping Market is Segmented by Type (Blanking Process, Embossing Process, Bending Process, Coining Process, Flanging Process), by Application (Automotive, Industrial Machinery, Consumer Electronics): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Metals & Mining. Fdt5
The global Metal Stamping Market was valued at USD 153100 Million in 2022 and is anticipated to reach USD 188760 Million by 2029, witnessing a CAGR of 3.0% during the forecast period 2023-2029.
Major Factors Driving the Growth of Metal Stamping Market:
The need for metal stamps in electrical and electronic devices, along with their growing application in the construction, medical, and automotive industries, is propelling the market's expansion. Metal stamping is a common process used by the industrial equipment sector to create a variety of parts that are essential to the operation of heavy-duty machinery.
Industrial machinery uses metal stamping to create parts made of aluminium, stainless steel, or high-strength steel, such as gears, bearings, housings, and brackets. Because metal stamping can swiftly and economically make large quantities of customised high-precision, high-strength components, it has a substantial advantage in the industrial machinery business.
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TRENDS INFLUENCING THE GROWTH OF THE METAL STAMPING MARKET
Technological developments in metal stamping technologies, which are used in a number of expanding industries including consumer goods, automotive, aerospace, and industrial machinery, are partly to blame for this amazing growth rate. The need for the usage of metal components is growing as these sectors develop and flourish, which supports the expansion of the metal stamping market. Car manufacturers are able to lower customer costs while maintaining the necessary safety requirements because of the strength and flexibility of metal stamping components.
There will be a number of reasons that play a part in the metal stamping industry's anticipated exponential expansion. Metal stamping is an inexpensive production technique that minimises raw material waste. The manufacture of vehicle chassis, gearbox components, and interior and exterior structural components uses more sheet metal thanks to metal stamping for automotive purposes.
Metal stamping is a flexible, dependable, and reasonably priced production process. The usage of metal alloys including titanium, cast aluminium, cast iron, and forged steel for engines and vital components is anticipated to increase. The quality of metal stamped car components has increased because of technological breakthroughs including the usage of hybrid electromagnetically assisted sheet metal stamping machines.
Accuracy and uniformity are essential in the mass manufacturing of metal goods and parts in order to meet customer expectations and maintain product quality. Metal stamping offers an effective and precise manufacturing procedure to produce exact parts for a variety of applications, including medical equipment and automotive components, thanks to the automation qualities of CNC and CAD.
Automation makes stamping more affordable after your die is set up, especially when compared to other metal machining and manufacturing methods. Automation reduces labor costs and the amount of time engineers must spend, yet metal stamping can still manufacture complicated components precisely and swiftly. Furthermore, metal stamping production offers a less expensive method for your manufacturing needs because it doesn't require a heating element, unlike hot metal forging.
Excellent versatility is provided by metal stamping for a wide variety of goods and sectors. This metal production technique is very flexible, and capable of handling complex little parts as well as large industrial components because of the variety of procedures available. Manufacturers may use greater creativity in their ideas and solutions because of stamping. Metal stamping is capable of producing intricate brackets, clips, and clamps in a variety of materials.
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METAL STAMPING MARKET SHARE ANALYSIS
Key participants in the global metal stamping market include CIE Automotive, Magna, Diehl, Martinrea International, and Gestamp. The top five manufacturers worldwide control around 10% of the market.
With a market share of over 20%, China leads the market, followed by the USA and Europe , each with a share of roughly 15%.
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- Automotive Metal Stamping market is projected to grow from USD 75990 million in 2023 to USD 94640 million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period.
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- Metal Coatings market size is estimated to be worth USD 14410 Million in 2022 and is forecast to a readjusted size of USD 19400 Million by 2028 with a CAGR of 5.1% during the review period.
- The global metal recycling market size was USD 217.0 Billion in 2020 and is expected to reach USD 368.7 Billion by 2030, registering a CAGR of 5.2% from 2021 to 2030.
- Metal Powder market size is estimated to be worth USD 8598 Million in 2022 and is forecast to a readjusted size of USD 11460 Million by 2028 with a CAGR of 4.9% during the forecast period 2022-2028.
- Silicon Metal market is projected to grow from USD 5718.3 million in 2023 to USD 8391 million by 2029, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.
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