(EMAILWIRE.COM, December 18, 2021 ) The Automotive Metal Forming Market is projected to reach USD 202.2 billion by 2025, at a CAGR of 3.2%.

The driving factors for the metal forming market for automotive include the growing vehicle production and the increasing trend of vehicle light-weighting.

Opportunity: Growing sales of electric and hybrid vehicles

The global battery electric vehicle (BEV) and hybrid electric vehicle (HEV) market is growing rapidly. Factors such as rising concerns about global warming and air pollution and government support to reduce air pollution are driving the BEV market. The growth of the HEV market is driven by factors such as better fuel efficiency, increased driving range, fast refuelling, and lower greenhouse gas and air pollutant emissions. Because of such advantages over ICE vehicles, BEVs and HEVs are widely accepted across the globe. There is no such difference in the manufacturing techniques of electric and hybrid vehicles. The manufacturing process of BIW and closure-related parts remains the same; hence, existing players in the metal forming market can leverage this opportunity.

The metal forming market for automotive is dominated by manufacturers such as Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan).

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By techniques type, stamping is expected to be the largest market over the forecast period

Stamping is one of the most common forming techniques used in the automotive industry. In the automotive industry, many structural components are manufactured through the stamping process. These include closures (doors, hood, and truck) and components of BIW such as A-pillar, B pillar, crossbeam, and roof liner. Because of such wide application and being the most cost-effective forming technique, stamping is expected to hold the largest market.

The cold-forming market is estimated to be the largest market in forming type segment

Cold forming is expected to maintain its position in the metal forming market for automotive. As 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. Because of this, the overall cost of the cold forming process is low as compared to the hot forming process. Owing to such cost advantages, cold forming is still the major preference of OEMs across the globe.