India Automotive Stamping Market Ready To Reach 10.8% CAGR during The Forecast Period 2019-2027

Automotive Stamping Market



Metal stamping is a manufacturing technique that is used to shape flat metal into desired shapes. Automotive stamping is a type of metal stamping that processes high volume sheet metal parts for automotive OEMs and the aftermarket. The automotive stamping industry manufactures a wide range of sheet metal products such as brackets, plate holders, roofs, fenders, valves, exhaust systems, brake shoes, and fuel delivery systems. Automotive stampings use a variety of procedures, including cold stamping, hot stamping, progressive die stamping, transfer stamping, and tandem stamping. Automotive OEMs with in-house stamping capabilities, stamped component suppliers, and stamping service providers make up the stamping market in India.

In India, four-wheeler production has increased significantly, while two- and three-wheeler production has increased marginally. This is due to increased demand from both domestic and international consumers. As a result, the demand for automotive stamping has increased. Furthermore, rising disposable income, increased consumer confidence, credit availability, and low interest rates are driving growth in automotive sales in India.

The India Automotive Stamping Market was accounted for US$ 4,519.6 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecasted period (2019-2027)

According to the Organization Internationale des Constructeurs d'Automobiles (OICA), motor vehicle production in India reached 4.1 million units in 2015, up 7.3% from 3.8 million units in 2014. Furthermore, the Automotive Component Manufacturers Association of India (ACMA) reports that three-wheeler production in India reached 19.8 million units in 2015.

Even during the economic downturn, the automotive components industry grew significantly in 2008 and 2009. The export of automotive components accounts for approximately 30% of total revenue. Because India is a rapidly emerging automotive components hub for engine and transmission parts, the demand for automotive stamping is expected to rise in the near future. Furthermore, this demand will compel OEMs and tier 1 manufacturers to manage their production capacity by developing a new stamping process for automotive components. This is expected to drive market growth over the forecast period.

In recent years, automakers have prioritised weight reduction and performance enhancements. To achieve these two features, however, automakers must use advanced materials that are more expensive than conventional materials. Furthermore, manufacturers are focused on cost reduction, which is a difficult task given the market's current competition. As a result, pricing flexibility in the automotive stamping market has been limited, limiting growth in the India automotive stamping market in the near future.

Top Key Companies involved are- Sona Koyo Steering Systems Limited, Harsha Engineers Limited, Tata Autocomp Systems Limited, Cosma International (India) Private Limited, Yeshshree Press Comps Private Limited, Gestamp Automobile India Private Limited, Surin Automotive Private Limited, Skh Metals Limited, and Caparo India

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