Massive manufacturing and industrial activities witnessed in regions such as APAC is anticipated to steer the growth of metal forming market in the years ahead. Furthermore, escalating need for automation in the production process will further boost the demand for metal forming.
Sarasota, FL -- (SBWIRE) -- 02/13/2019 -- Global Metal Forming Market: Overview
Metal Forming is a process in which metal is plastically deformed to a desired shape and geometry. In order to do so a force is applied on the metal, that exceeds the yielding strength of the metal so as the metal doesn't show temporary change in shape but undergoes plastic deformation. This is applied on metal to give them rigid, customized and desired shape and looks. There are metal forming tools such as English wheels, planishing hammers, louver presses and many more that perform the desired function and output of forming. There are many end use applicants for this process; ranging from automotive, construction, industrial and aerospace engineering.
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Global Metal Forming Market: Growth Factors
Massive manufacturing and industrial activities witnessed in regions such as APAC is anticipated to steer the growth of metal forming market in the years ahead. Furthermore, escalating need for automation in the production process will further boost the demand for metal forming. Large-scale production of vehicles and consumer preference towards lightweight vehicles will steer metal forming market trends in the near future. However, growing competition along with introduction of new technologies will shift the consumer preference, thereby hampering the growth of metal forming market in the near future. In addition, high investment costs for forming equipment will impede the business scope in the coming years. Nevertheless, massive application of metal forming in automotive, aerospace engineering, construction, and industrial equipment and machinery will create lucrative growth avenues for the market players, thereby annulling the negative impact of hindrances on metal forming market growth.
Global Metal Forming Market: Segmentation
The global metal forming market can be classified based on technique, type, and end use. Based on the technique, the market is sectored into rolling, deep drawing, stretching, extrusion, stamping, and forging. On the basis of type, the market is divided into hot, cold, and warm. Based on the end-user, the market is classified into automotive, aerospace engineering, construction, and industrial equipment & machinery.
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Global Metal Forming Market: Regional Analysis
Based on regions, the global metal forming market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Massive consumer spending and vehicle costs in countries such as the U.S. and Germany will steer the growth of markets in North America and Europe. Large vehicle production and use in countries such as China, India, Japan, and South Korea will help APAC dominate the regional market growth in the ensuing years.
Vehicle manufacturers in Europe, Asia Pacific, and North America are undertaking inorganic developments such as expansion, joint ventures, and supply contract. Manufacturers are also investing in new product development for expanding their product portfolio, thereby contributing significantly towards the growth of metal forming market in APAC, North America, and Europe.
Global Metal Forming Market: Competitive Players
The key players in the global metal forming market include Aisin Seiki, Fagor Arrasate, Magna International, Benteler, Amco Metal, Toyota Boshoku, JET, and Tennsmith.
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Global Metal Forming Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa