Last October we posted a piece looking at the potential for growth in the metal stamping industry, Though Struggles Exist, Hydroforming and Metal Stamping Thrive. One year later, we can say our prediction was correct.
Automotive metal stamping demand in commercial vehicles was valued at over $20 billion in 2015, according to a new Research and Markets report. Furthermore, demand for metal stamping in parts manufacturing and body work in commercial vehicles is expected to grow over the next eight years to reach over $112 billion by 2024.
Factors that contribute to the growth in the metal stamping industry include:
- Low manufacturing cost
- Increasing sheet metal usage to produce automobile chassis, transmission components, and interior and exterior structural components.
- Growing use of alloys such as titanium, cast aluminum, cast iron, and forged steel in engines.
- Technological advancements including the use of hybrid electromagnetically assisted sheet metal stamping machines.
Metal stamping is a practical and effective way to meet the growing demand for fuel efficiency in the automotive industry. Metal stamping can be used to manufacture a large part of an automobile’s body including doors, hoods and trunk lids. The metal stamping process creates lightweight, strong auto body parts that help a vehicle meet fuel efficiency standards.
Metal stamping is a diverse process that can also be used with a variety of metals across multiple industries. One factor that could intrude on the rise of metal stamping in the auto industry is the use of polymers in auto manufacturing. High performance plastics provide several advantages in auto making, including:
- Extended vehicle/part life due to minimal corrosion
- Light weight improves fuel efficiency
- Freedom and flexibility in design
- Ability to be recycled
As an industry leader, we continue to stay updated in all the latest developments in manufacturing. Please contact us today to discuss metal fabricating solutions for your needs.