Automotive Metal Stamping Market To Witness Enhanced Demand In Automotive Sector Till 2024

New Market Research Reports Title “Automotive Metal Stamping Market Analysis Size and Segment Forecasts to 2024” Has Been Added to Grand View Research Report Database

The global automotive metal stamping market is expected to reach USD 112.38 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow owing to the rising demand in automotive industry and low manufacturing cost. Increasing sheet metal usage in the production of automobile chassis, transmission components, interior & exterior structural components are expected to drive market growth over the forecast period.

Growing use of alloys such as titanium, cast aluminum, cast iron, and forged steel still form an integral part of automotive engines. Furthermore, technological advancements including the use of hybrid electromagnetically assisted sheet metal stamping machines which significantly reduces failures by controlling the strain distribution during stamping is expected to have a positive impact on industry growth.

The automotive manufacturing sector in Asia Pacific and Latin America is rapidly developing with major overseas OEMs establishing production plants to capture the local automobile demand. This has enabled technology transfer to these regions, thus promoting industry growth over the next eight years.

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Further key findings from the report suggest:

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Grand View Research has segmented the automotive metal stamping market on the basis oftechnology, application and region:

Automotive Metal Stamping Market Technology Outlook (Revenue, USD Million, 2013 – 2024)

Automotive Metal Stamping Market Application Outlook (Revenue, USD Million, 2013 – 2024)

Automotive Metal Stamping Market Regional Outlook (Revenue, USD Million, 2013 – 2024)

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