Global Metal Forming Market Size, Share, Forecast Report, 2020-2027

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The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Metal Forming Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Metal Forming market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The metal forming market for automotive is expected to grow at a CAGR of 3.2%, by value, during the forecast period. The market is estimated to be USD 172.5 billion in 2018 and is projected to reach USD 202.2 billion by 2025. The driving factors for metal forming market for automotive include the growing vehicle production and the increasing trend of vehicle light weighting.

The global metal forming market for automotive includes major Tier I and II suppliers like Magna, Benteler, Tower International, Aisin Seiki and Toyota Boshoku. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted their businesses as well.

These players have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for Metal forming for automotive is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from OEMs and tier 1 manufacturers.

Major metal forming providers lost revenue in Q1 2020. As the resumption of vehicle production is not likely in the immediate future due to the severity of the pandemic, especially in the US and major European countries, tier 1 players suspect a further decline in revenue in the remaining quarters of 2020. For instance, Magna's Overall revenue in 1st quarter in 2020 fell by 18% as compare to Q1 result in 2019. According to the company, the scenario could be worse in 2020 as global light vehicle production is expected to fall by 18%-44%. The company suspended production in China, followed by North America and Europe. Metal forming players are facing disruptions in supply chains as countries are in a state of lockdown to prevent the spread of the disease. Thus, the market for metal forming is estimated to undergo a declining phase in 2020.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Metal Forming market are included as given below:

Metal forming market for automotive is dominated by manufacturers such as Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan). Most of the manufacturers are undertaking inorganic developments such as expansion, joint venture, and supply contract. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.

The global Metal Forming market has been segmented as below:

By Technique type

Roll Forming

Stretch Forming

Stamping

Deep Drawing

Hydroforming

Others

By Application type

BIW

Chassis

Closures

Others

By Electric & Hybrid Vehicle type

Fuel Cell Electric Vehicle (FCEV)

Plug-in Hybrid Electric Vehicle (PHEV)

Battery Electric Vehicle (BEV)

By ICE Vehicle type

Passenger Car

LCV

Truck

Bus

By Forming type

Cold Forming

Hot Forming

Warm Forming

By Material type

Steel

Aluminum

Magnesium

Others

By Region

North America

Asia Oceania

Europe

South America

Middle East and Africa

Reasons to Purchase this Report:

Estimates Metal Forming development trends with SWOT analysis

� Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

� Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion

� Market dynamics scenario, along with growth opportunities for players in the years to come

� Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

� Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects