World Markets for Automotive Metal Forming 2020-2025: Trends, Opportunities and Growth Deviations Resulting from COVID-19 - GlobeNewswire

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Dublin, Aug. 27, 2020 (GLOBE NEWSWIRE) -- The "Metal Forming Market for Automotive by Technique (Roll, Stretch, Stamping, Deep Drawing, Hydroforming), Type (Hot, warm and Cold), Application (BIW, Chassis, Closure), Material (Steel, Aluminum, Magnesium), Vehicle (ICE & Electric) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.The key companies profiled in the study are Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan), Kirchhoff (US), CIE Automotive (Spain), Mills Products (US), VNT Automotive (Austria), Superform Aluminum (US), and Hirotec (Japan).Global vehicle production and growing commercial vehicle demand to fuel the metal forming market for automotiveThe market is projected to rise owing to key reasons such as increasing vehicle production and growing demand for commercial vehicles. On the other hand, the major factor hindering the growth of the metal forming market is the high capital cost of forming equipment.The hydroforming market is projected to show the fastest growth by forming a technique segmentHydroforming is one of the most advanced forming techniques used in the automotive industry. It is generally used to manufacture hollow tube structures such as manifolds, exhaust cones, and a few suspension components. As hydroforming is comparatively expensive, it is mostly used by premium car manufacturers. Due to the increasing market share of premium car manufacturers, hydroforming is expected to grow at the fastest rate. It is an advanced technique and requires a high setup cost as well as high operating costs, because of which it is expected to have a significant market in Europe and North America.Cold forming is estimated to be the largest market by forming type and is projected to maintain its position in the forecast periodCold 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. The cold-forming process is simpler than the hot forming process and does not require any additional setup cost. Hence, the overall cost of cold forming is low as compared to hot forming. Because of the advantages such as cost and low production time, cold forming is the major preference of OEMs across the globe.Asia Oceania and North America are estimated to drive the metal forming market for automotiveThe Asia Oceania region is projected to lead the metal forming market for automotive during the forecast period owing to the large-scale vehicle production compared to other regions. According to OICA (Organisation Internationale des Constructeurs d'Automobiles), Asia Oceania contributed about 50-55% of the global vehicle production in 2019. Vehicle production in Asia Oceania has grown substantially in the last 10 years. This increase in production comes from small and mid-sized cars in China and India as these two countries have the largest population and are price-sensitive markets. With the increase in the production of vehicles, the demand for metal forming for automotive grew at a significant rate in Asia Oceania.The report covers the metal forming market for automotive. It is broadly segmented by region (Asia Pacific, Europe, North America, South America, and the Middle East and Africa), Technique type (Roll forming, Stretch forming, Stamping, Deep drawing, Hydroforming, and Others), Forming types (Cold forming, Warm forming, and Hot forming), Material Type (Steel, Magnesium, and Aluminum), Application type (BIW, Chassis, and Closures), Vehicle Type (Passenger car, LCV, Truck, and Bus), and Electric & Hybrid vehicle type (BEV, PHEV, and FCEV).Key Topics Covered1 Introduction

2 Research MethodologyFor more information about this report visit https://www.researchandmarkets.com/r/f97hxyResearch and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900



August 27, 2020 at 03:08PM
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World Markets for Automotive Metal Forming 2020-2025: Trends, Opportunities and Growth Deviations Resulting from COVID-19 - GlobeNewswire

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