Global Metal Stamping Industry Insights from wisepowder's blog

Global Metal Stamping Industry Insights

The "Metal Stamping Market Size, Share & Trends Analysis Report by Process (Blanking, Embossing), by Application (Automotive, Industrial Machinery, Consumer Electronics), by Region, and Segment Forecasts.To get more news about stamping parts manufacturer, you can visit tenral official website.

The increasing production of automobiles is anticipated to drive the demand for metal stamping as it is used in manufacturing of car body panels, transmission components, and interior and exterior structural components.

Automobile consumers are shifting their focus towards lightweight vehicles on account of rising concerns on environmental pollution. According to the Center for Automotive Research (CAR), the global light vehicles sales reached around 94 million in 2018 and is expected to reach nearly 110 million by 2026. The growing demand for lightweight vehicles is encouraging auto component manufacturers to increase their production capacities and engage in new product developments, which, in turn, is anticipated to augment market growth over the coming years.

Major automobile manufacturers that have in-house component manufacturing facilities are expanding their production capacities to meet the growing demand for automobiles. For instance, in February 2019, Ford Motor Company announced to invest USD 1 billion in Chicago assembly and stamping plants. With the investment, the company plans to add all-new stamping lines and all-new body shops and paint shops that are used to manufacture 2020 Ford Explorer, Police Interceptor Utility, and Lincoln Aviator. Thus, increasing production of these vehicles is anticipated to drive product demand over the coming years.
In Asia Pacific, increasing demand for consumer electronics such as mobile phones, computers, laptops, and headphones are likely to boost the demand for metal stamping as it is used in manufacturing metal frames such as metal headbands that are used in headphones. Change in consumer preferences towards enhanced audio experience along with a rapidly growing music industry, and advancement in VR technology are the major factors that are expected to drive the demand for headphones. This, in turn, is likely to propel market growth over the coming years.