Visiongain has published a new report on Metal Forming Market Report to 2031: Forecasts by By Vehicle Type (IC Engine and Electric Vehicle) By Technique (Deep Drawing, Stamping, Roll & Stretch, Hydroforming) By Material (Steel and Aluminium) By Forming Type (Hot, Warm, and Cold). PLUS, Profiles of Leading Metal Forming Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
The market is anticipated to witness growth over the forecast period, despite the disruptions created by COVID-19 in the year 2020. The growth of the market can be attributed to the increasing support from the regional governments through incentives, loans and subsidies boosting vehicle demand.
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COVID-19 Impact on Metal Forming Market
COVID-19 negatively impacted the Metal Forming market due to ceasing of automotive and ancillary production between March and May due to precautionary lockdown announced by the government to contain the spread of the virus. The temporary shut of vehicle manufacturing and component manufacturing plants and steel decline in vehicle demand created significant turbulence and significant supply-demand disruptions. However, with the resumption of the economic activities the market backtracked the growth path, however, with a slower pace. The market still lies down below the pre-COVID level, and the recovery may take some more time.
The growing vehicle production activities across the globe tend to supplement the metal forming market growth. Apart from passenger cars, which holds majority share of the demand? Commercial vehicle manufacturing has been increasing, in turn boosting the market growth. Further, an incentive by various regional governments on manufacturing of electric vehicles is anticipated to boost the demand. There is significant demand by OEMs and the regulatory bodies towards light weighting of automotive parts, which also acts as a factor supporting growth.
Growing sales of electric passenger cars and two wheelers offers significant opportunity. An incentive by various regional governments on manufacturing of electric vehicles is anticipated to boost the demand. Further, focus of global regulatory bodies and regional government to curb tailpipe emission requires light weighting of auto parts and components. Players in the metal forming market has been competing in the light weighting batter for long. But significant opportunity still exists for light weighting of electric vehicle and its components.
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How the Metal Forming Market report helps you
In summary, our 500+ page report provides you with the following knowledge:
- Revenue forecasts to 2031 for Metal Forming Market, with forecasts for Technique, Material, and Vehicle Type, each forecasted at a global and regional level- discover the industry’s prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2031 for 5 regional and 20 key national markets – See forecasts for the Metal Forming market in North America, Europe, Asia-Pacific and Rest of the World. Also forecasted is the market in the US, Canada, Argentina, Brazil, Germany, France, UK, Italy, Spain, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market- including company profiles for 10 of the major companies involved in the Metal Forming Market.
Some of the company’s profiled in this report include Benteler, Tower International, Magna International, Toyota Boshoku Corporation, Aisin Seiki, Kirchhoff, Mills Products, Hirotec, SuperformAluminium, Hornlein. Additional companies’ active in the market includes PWO, Ernst Umformtechnik, Metal Flow, Stewart EFI, Gestamp Automocion, Vari-Form, LTC Roll, Martinrea International Inc, Multimatic, Kaizen Metal Forming and JBM Auto. Players in the market has been observed partnering with OEMs and Tier 1 suppliers for research and development of novel products/components for their advanced technology next-gen vehicles.
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