Metal Stamping Market Worth USD 289.2 Billion by 2023, Says Meticulous Research®

LONDON, Aug. 16, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the global metal stamping market is expected to grow at a CAGR of 3.9% from 2018 to 2023 to reach USD 289.2 billion. The growth of this market will be driven by factors such as rising urbanization and industrialization, the growing automotive industry, increasing demand from the aerospace and aviation industry, and a rise in technological advancements. Moreover, the rising use of sheet metal across manufacturing industries and growing investments into metal stamping facilities further supports the growth of this market.

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The blanking process dominated the global metal stamping market in 2017, mainly due to its ability to produce precise and superior quality metal work pieces in large volumes at low costs. However, the metal bending market is expected to grow at the fastest CAGR during the forecast period, owing to the rising adoption of the bending process across many industry verticals for improving the quality, durability, and stability of manufactured parts.

The metal stamping market for automotive application commanded the largest share with huge and growing automobile production in developing markets, especially China and India; technological advancements in the automotive industry; and the presence of a large number of automotive metal stamping companies.

Geographically, Asia Pacific commanded the largest share of the global market in 2017, followed by Europe and North America. The large share of this region is mainly attributed to factors such as the shift of manufacturing from North America & Europe to the Asia-Pacific region, rising industrialization, a significantly growing automotive and aerospace & aviation industry, infrastructural developments, and rising private & government investment in the manufacturing sector.

The major players operating in the fragmented global metal stamping market are Magna International Inc., Alcoa Corporation, American Axle & Manufacturing Holdings, Inc., Interplex Holdings Pte. Ltd., Acro Metal Stamping Co., Tempco Manufacturing Company Inc., D&H Industries, Inc., American Industrial Company, Manor Tool & Manufacturing Company, Kenmode Precision Metal Stamping, Klesk Metal Stamping Co., Aro Metal Stamping Company, Inc., Goshen Stamping, LLC., Sertec Group Ltd., KOBAKIN (J) CO.,LTD., Harvey Vogel Manufacturing Co., Dongguan Shiyunjia Hardware Co., and Clow Stamping Company, among others.

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