The Automotive Metal Forming Market is estimated to grow at a CAGR of 3.2% from 2018 to 2025. It is projected to reach USD 202.2 billion by 2025 from USD 172.5 billion in 2020.

The rising global vehicle production and the growing commercial vehicle demand were expected to fuel the metal forming market for automotive. However, owing to the corona outbreak, 2020 will witness a decline in the production of vehicles and disruption in the supply chain across the globe. Automotive production is estimated to decline by approximately 20% and estimated to recover gradually by 2025. Apart from the gradual increase in vehicle production, stringent emission and fuel economy regulations will drive the demand for lightweight materials such as steel and aluminum, which are the major material for the metal forming market for automotive.

Due to stringent fuel economy and emission regulations, OEMs have increased the use of lightweight materials such as aluminum and composites. The use of lightweight materials reduces the fuel consumption of vehicles because lighter vehicles consume less energy at the time of acceleration. The multi-material designs, with the combination of HSS, magnesium, composites, aluminum, and other materials, use a systematic approach to apply their best properties appropriately in a vehicle. Efficient design, material selection, manufacturing, and assembly result in effective light-weighting. This trend will lead to the metal forming market for automotive.

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Hydroforming is expected to be the fastest-growing market during the forecast period. Metal hydroforming is a recently evolved manufacturing process used to shape malleable metals such as aluminum. The technique uses high-pressure hydraulic fluid to force the solid metal into a die. It is widely used in the automobile industry for creating body construction found in many of today’s cars.  Additionally, hydroforming reduces the waste associated with the production of BIW and streamlining parts of the assembly. This also reduces some of the potential flaws associated with metal forming, as well as the number of materials needed for part production. Hydroforming is widely used in developed regions like Europe and North America. Some of the luxury car manufacturers in Asia Oceania have started investing in hydroforming technology. The manufacturers of formed automotive components should start investing in hydroforming technologies as it will contribute to a significant share in the metal forming process in the near future.

In terms of materials, the market is segmented into major materials such as steel, aluminum, magnesium, and others. Aluminum is expected to be the fastest-growing market during the forecast period. Due to stringent emission norms and fuel economy regulations, OEMs have started using lightweight materials such as steel and aluminum. As the regulation is stringent in developed regions like Europe and North America, many OEMs have started using aluminum as their mainstream forming material. Several automotive components are manufactured using aluminum. These include cross-car beam, front door, oil pan, rear door frame, and seat frame. Aluminum is rapidly replacing steel in many automotive applications like BIW and chassis. Due to the above reasons, aluminum is expected to be the fastest-growing market.

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In addition to the conventional ICE vehicle, electric and hybrid vehicle is a new scope for the metal forming market for automotive. The global battery electric vehicle (BEV), hybrid electric vehicle (HEV) and fuel cell electric vehicle (FCEV) market is growing rapidly. Factors such as rising concerns about global warming and air pollution and the federal and state government support to reduce air pollution are driving the BEV & HEV market. There is no major difference in the manufacturing techniques of electric and hybrid vehicles. The manufacturing process of BIW and closures-related parts remain the same, so existing players in the metal forming market can grab this opportunity without any additional investment.

Recent Developments:

1. In May 2020, Benteler announced that it has secured a contract for the development of front and rear axle modules for Evergrande. It will develop the front and rear axle modules for mid-range and luxury electric vehicles. With this contract, Benteler can strengthen its existing cooperation with Evergrande and enhance its partnership
2. In July 2019, Magna International announced that it has won a new seating business in North America with a global automaker and will supply seat structures from a new manufacturing facility in Lancaster, Ohio. The facility represents Magna’s first dedicated seat structure plant in the U.S. and will feature robotic laser and MIG welding capabilities. The facility is strategically located to provide seat structures to Magna’s customers, starting with a new plug-in hybrid vehicle for a global automaker.
3. In April 2019, Mahindra CIE, a subsidiary of the CIE Group, announced that its Stampings Division, Kanhe is in the process of setting up a greenfield plant for a new best-in-class fully automated tandem press line, robotic welding & assembly cells, and a well-equipped metrology laboratory with the latest engineering & quality assurance processes. This is being done in conjunction with CIE’s domain experts and is expected to be a technology demonstrator of the capabilities that MCIE can bring to the industry.
4. In May 2018, Magna International set up an aluminum casting facility in Telford, England, which will supply structural castings to Jaguar Land Rover. The new facility is approximately 225,000 square feet and employs 300 people.