North America Metal Stamping Market
Market Introduction
The integration of metal stamping is increasing owing to the demand for economical and light weight equipment, better fuel economy, and better comfort. At present, the automotive industry is experiencing significant incorporation of various advanced technologies in cars to improve the passengers' safety and efficiency. The metal stamping market is anticipated to grow at a moderate pace during the forecast period due to growing preference for electric vehicles (EVs), sports utility vehicles, and off-road vehicles. These metal stampings parts help in manufacturing body panels to maintain safety standards and control end-costs.
Due to growing investments to set up factories and expand production houses of the automobiles, the demand for passenger vehicles and commercial vehicles is increasing, which, in turn, is anticipated to generate an upward trend in the metal stamping market during 2021–2028. Similarly, the commercial aircraft industry is growing since the past few years. Several operators in this industry are focusing on the development, manufacturing, and rebuilding of airplanes, helicopters, aircraft engines as well as several other components for the commercial sector.
Market Overview and Dynamics
The North America Metal Stamping Market was valued at US$ 85.27 million in 2020 and is projected to reach US$ 107.35 million by 2028; it is expected to grow at a CAGR of 3.2% from 2021 to 2028. The region is the major producer of metals, such as steel, iron, and aluminum, which are the primary metals used for metal stamping across different sectors. In the US, the metal stamping is characterized under the metal fabrication industry, owing to the presence of huge number of manufacturing sector. The metal fabricated products and solutions renovates metal into end or intermediate products. The metal stamping manufacturers operate on metals and metal-formed products that are fabricated in another place and are involved in the processes for re-shaping individual metal pieces by forming, stamping, machining, bending, forging, and joining separate parts with the help of different processes, such as assembling and welding. Further, the rising production of commercial vehicles and heavy trucks is anticipated to surge the growth of the metal stamping market in the region. The presence of well-known vehicle manufacturers, such as Ford, GM, and Chrysler, is one of the major driving factors for the growth of the metal stamping market in the region.
Electric vehicles (EVs) have gained significant popularity in North America, especially in the US. Canada has the second-largest count of electric vehicles (EVs) in the region, which escalates year-on-year. The growing population in urban areas is demanding increasing public transportation with the improvement in existing transportation infrastructure. The OEMs in North America are focusing on reducing their carbon footprint, thereby promoting electric vehicles, specifically electric passenger cars. With the growing demand for automobiles, the manufacturers of passenger cars and taxis are focusing on green technologies. Several countries in the region are focused on building green transportation. The governments of North American countries are taking several initiatives by offering tax rebates and incentives to boost electric vehicles' adoption in their public transport—such as e-trucks and e-buses—to reduce CO2 emissions. BYD K9, Mercedes Benz electric truck, and Tata Starbus Hybrid e-buses are a few of the electric vehicle models popular in the region.
Further, the emergence of next-generation stamping is gaining traction in the North American metal stamping market. The next-generation metal stamping reduces the cost and time of the process to produce metal and metallic parts. It also eliminates the process of designing dies, which are considered one of the costly procedures, and assists in implementing next-generation tooling simulation software to improve the tooling lineups before cutting tools. The manufacturing of automotive parts such as headliners, fenders, side and quarter panels, brake shoes, valves, exhausts, and hangers have augmented the adoption of next-generation metal stamping technologies.
The constant demand for metal stamping has witnessed a slight decrease in the production in the year 2020, owing to lockdown imposed by the government and low demand from automotive and electronics industries. This has hindered the growth of the metal stamping market last year, as is likely to continue slightly during 2021. The COVID-19 has already impacted the sales of electronics equipment and industrial machinery in the first quarter of 2020 and is expected to have a negative impact on the market growth throughout the year, as now the companies are functional with limited workforce and trying to come up with the losses, they faced in the year 2020.
Key Market Segments
Based on process, the North America metal stamping market is segmented into embossing, bending, blanking, coining, flanging, and others. Based on application, North America metal stamping market is segmented into automotive, aerospace, telecommunications, electrical and electronics, industrial machinery, and others.
Major Sources and Companies Listed
The top companies operating in the field of access control include ACRO Building Systems (ACRO Metal Stamping); Clow Stamping Company; D&H Industries, Inc.; Goshen Stamping Company; Kenmode, Inc.; Integrity Manufacturing, Inc.; Manor Tool & Manufacturing Company; Caparo Group; Klesk Metal Stamping Co.; and Tempco Manufacturing Company, Inc.; among others. Various other companies operating in the market and are coming up with new technologies and offerings, which is helping the market for access control to expand over the years in terms of revenue.
Reasons to buy report
NORTH AMERICA METAL STAMPING MARKET SEGMENTATION
North America Metal Stamping Market– by Process
North America Metal Stamping Market– by Application
Company Profiles:
Strategic insights for the North America Metal Stamping provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 85.27 Million |
| Market Size by 2028 | US$ 107.35 Million |
| Global CAGR (2021 - 2028) | 3.2% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Process
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Metal Stamping refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The List Companies - North America Metal Stamping Market
The North America Metal Stamping Market is valued at US$ 85.27 Million in 2020, it is projected to reach US$ 107.35 Million by 2028.
As per our report North America Metal Stamping Market, the market size is valued at US$ 85.27 Million in 2020, projecting it to reach US$ 107.35 Million by 2028. This translates to a CAGR of approximately 3.2% during the forecast period.
The North America Metal Stamping Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Metal Stamping Market report:
The North America Metal Stamping Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Metal Stamping Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Metal Stamping Market value chain can benefit from the information contained in a comprehensive market report.
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