Metal forming is large set of manufacturing processes in which the material is deformed by using different methods. The multiple processes used in metal forming include rolling, forging, extrusion, wire or rod drawing, and bending. Rise in vehicle production across the globe and increase in demand for commercial vehicles are likely to drive the market for automotive metal forming during the forecast period. Stringent emission norms, light weighting of the vehicle, and rising demand for fuel economy are likely to spur the demand for metal forming during the forecast period. However, increasing usage of composites in the automotive industry is likely to hinder the metal forming market for automotive during the forecast period.

The global metal forming market for automotive can be segmented based on technique, process, application, material, vehicle type, and region. Based on technique, the metal forming market for automotive can be segregated into roll, stamping, stretch, and others. Rolling is an important metal forming process. Majority of metal is manufactured by using the rolling process. Rolling is the first process undertaken in manufacturing, wherein the material is placed in between rollers and deformed plastically. Likewise, metal stamping is also an important metal forming process, which involves the usage of various tools to carry out the stamping operation.

In terms of application, the metal forming market for automotive can be divided into BIW (Body in White), chassis, and one other segment. The BIW segment is likely to dominate the metal forming market for automotive during the forecast period owing to its importance in the vehicle manufacturing industry.

Based on material, the market can be split into aluminum, steel, and others. Aluminum is gaining popularity among car manufacturers due to its light weight. Demand for aluminum is likely to rise during the forecast period owing to its numerous unique and attractive properties and light weighting of the vehicles, which in turn is anticipated to boost the metal forming market for automotive during the forecast period.

Based on process, the metal forming market for automotive can be bifurcated into hot and cold. Large deformation can be easily achieved by hot working process; however, the hardness of the material cannot be controlled and the metal is likely to experience poor surface finish. The cold working process offers closer tolerance, good surface finish, and desirable directional properties. Therefore, the cold segment is likely to dominate the metal forming market for automotive during the forecast period.

Based on vehicle type, the metal forming market for automotive can be segmented into passenger vehicle, commercial vehicle, and electric vehicle. The passenger vehicle segment is anticipated to drive the metal forming market for automotive during the forecast period owing to the rise in production of passenger vehicles across the globe. Increase in per capita income, decrease in bank interest rates, rapid urbanization, and expansion of the automotive industry in developing countries are fueling the passenger vehicle segment. Likewise, the electric vehicle segment is expected to expand at a significant growth rate in the near future.

Based on region, the metal forming market for automotive can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is expanding at a rapid pace due to a significant customer base from different industries such as automotive and agriculture. Expansion of the automotive industry, especially in China, India, and South Korea is anticipated to boost the market in the region during the forecast period.

Key players operating in the global metal forming market for automotive include Benteler, Tower International, Magna International, Toyota Boshoku , Aisin Seiki, Kirchhoff, CIE Automotive , Mills Products , VNT Automotive , Superform Aluminium, and Hirotec.

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
  • Europe
  • 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.

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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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Metal Forming Market

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