U.S. And Mexico Metal Stamping Market Growth & Trends
The U.S. and Mexico metal stamping market size is expected to reach USD 76.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.4% from 2022 to 2030. Rising demand for metal stamping in various industries and growing adoption of Electric Vehicles (EVs) is anticipated to contribute to market growth over the forecast period. Metal stamping is used in various industries including automotive, aerospace, consumer appliances, and industrial machinery. Its increasing demand in industrial machinery coupled with the rising use of robotics and automation is expected to further contribute to the growth of metal stamping industry over the coming years.
Rising demand for EVs is encouraging key players to further expand their manufacturing facilities. For instance, in February 2021, Magna International Inc. announced its plan about setting up of Magna Electric Vehicle Structures, in St. Clare. Michigan, U.S. This new entity will build complex battery enclosures for electric propulsion vehicles. Process-wise, blanking accounted for the largest revenue share of the overall market. This process is proven to be efficient owing to its economic manufacturing for large volumes. Equipment used in the process can be configured as per required customizations with ease and the primary metal is fed continuously in the machine. This simple procedure enables the blanking operation to be performed in long production runs.
Region-wise, the U.S. held the largest revenue share in 2021 and this trend is anticipated to continue over the forecast period. A rise in military spending along with increasing investments in EVs and consumer appliance industries are growth drivers for the market. For instance, in 2020, the U.S. accounted for ~39.0% of the global military spending, becoming the largest spender with an estimated budget of USD 778 billion. The competitive rivalry remains intense for the industry. The ongoing COVID-19 pandemic has affected the market significantly as many key players had to shut down their operations in the first half of 2020. However, with efficient management, their revenues rebounded to normal levels in the second half of 2020.
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U.S. And Mexico Metal Stamping Market Report Highlights
- Based on process, the blanking segment is anticipated to register a CAGR of 5.0% over the forecast period. It is a preferred choice in end-use industries such as aerospace, automotive, and household appliances, where mass production of components takes place
- Based on application, the consumer appliances segment is anticipated to register the fastest growth rate of 6.0% across the forecast period, owing to rapid technological advancements and rising demand for home appliances
- Based on region, the U.S. accounted for a revenue share of 80.0% in 2021. Rising utilization of metal stamping in military aircrafts and other equipment is benefitting market growth
- Additive manufacturing offers a lucrative growth opportunity for the metal stamping The technology provides various benefits such as minimized waste, reduced energy and labor costs, and potential for the production of smaller and complex geometries
Access Press Release@ https://www.grandviewresearch.com/press-release/us-mexico-metal-stamping-market-analysis
U.S. And Mexico Metal Stamping Market Segmentation
Grand View Research has segmented the U.S. and Mexico metal stamping market on the basis of process, application, and region:
U.S. And Mexico Metal Stamping Process Outlook (Revenue, USD Million, 2017 - 2030)
- Blanking
- Embossing
- Bending
- Coining
- Flanging
- Others
U.S. And Mexico Metal Stamping Application Outlook (Revenue, USD Million, 2017 - 2030)
- Automotive
- Industrial Machinery
- Consumer Appliances
- Aerospace
- Electrical & Electronics
- Telecommunication
- Others
U.S. And Mexico Metal Stamping Country Outlook (Revenue, USD Million, 2017 - 2030)
- US.
- Mexico
List of Key Players of U.S. And Mexico Metal Stamping Market
- ACRO Metal Stamping
- Ford Motor Company
- Goshen Stamping Company
- Harvey Vogel Manufacturing Co.
- Kapco Metal Stamping
- Magna International Inc.
- Martinrea International Inc.
- Pacific Metal Stampings, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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