Automotive Body Stamping Market: Introduction
- The process of manufacturing body panels, such as door panels, hood cover, and roof panels, for the vehicle is known as body stamping. Adoption of automation in the automotive manufacturing industry has made the process really fast and all major manufacturers have adopted automation in their manufacturing units to optimize the cost of production and enhance revenues.
- The automotive body stamping market is expanding at a consistent pace across the globe and is likely to maintain its expansion during the forecast period
Key Drivers of Automotive Body Stamping Market
- Increase in investment for development of esthetically appealing body panels and preference among consumers for sharp-edged design of vehicles is anticipated to boost the body stamping market during the forecast period
- Rising demand for vehicles in developing nations is boosting vehicle production, which is anticipated to drive the automotive body stamping market. Moreover, an increase in per capita income and spending capacity of society has been a key factor fueling the demand for vehicles in the Asia Pacific region.
- Increasing competition among manufacturers in order to gain higher market share by offering better service and higher number of outlets is propelling the production of vehicles. Furthermore, demand for lightweight vehicle body parts is leading to the usage of lightweight materials such as aluminum, which in turn is propelling the market for automotive body stamping.
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Asia Pacific is anticipated to dominate global automotive body stamping market
- In terms of region, the global automotive body stamping market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific held a major share of the global automotive body stamping market owing to the presence of major automotive manufacturing hubs in the region such as China and India. Additionally, availability of raw materials and vehicle production units in the region make it highly suitable for preparation of stamped body parts in the region.
- High focus on vehicle electrification coupled with the demand for lighter body parts across the globe is likely to drive the demand for aluminum body parts for vehicles, which provide adequate strength and low weight properties to the vehicle and contributes to achieve the target fuel economy.
Key Players Operating in Automotive Body Stamping Market
Several tier 1 and tier 2 players are operating in the automotive body stamping market. Majority of the market is organized; however a large number of tier 3 and small-scale manufacturers who provides stamping services to the major players also exist in the market. Key players operating in the automotive metal stamping market are:
- AB Volvo
- American Hydroformers Inc.
- ZHEJIANG JINAOLAN MACHINE TOOL CO., LTD.
- Toyota Motor Corporation
- BMW AG
- Daimler AG
- TATA Motors
- Hyundai Motor Corporation
- General Motors Company
- Ford Motor Company
- Honda Motor Company, Ltd.
- Fiat Chrysler Automobiles N.V.
- Suzuki Motor Corporation
- Isuzu Motors Ltd.,
- Thyssenkrupp System Engineering GmbH
- Clow Stamping Company
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Global Automotive Body Stamping Market: Research Scope
Global Automotive Body Stamping Market, by Material
- Carbon Steel
Global Automotive Body Stamping Market, by Vehicle
- Passenger Vehicle
- SUV/ MUV
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Body Stamping Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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