Asia-Pacific Metal Stamping Market Insights Report 2023: Market to Surpass $110 Billion by 2028 – Rising Passenger Vehicle Demand Spurs Growth

DUBLIN, Oct. 27, 2023 /PRNewswire/ — The “Asia-Pacific Metal Stamping Market – Focused Insights 2023-2028” report has been added to  ResearchAndMarkets.com’s offering.

The APAC metal stamping market is projected to be valued at $110.86 billion by 2028 from around $83.57 billion in 2022, growing at a CAGR of 4.8%

This report provides complete information regarding adopting metal stamping in the APAC region. Further, the demand for metal components across several end-user industries drives the APAC region’s metal stamping market. Furthermore, major players focus on strategic agreements, acquisitions, and collaboration with emerging players to enter the APAC metal stamping market to gain access to commercially launched products.

The escalating demand for automobiles and consumer electronics has positioned the APAC region as one of the foremost markets on a global scale. The growth is driven by developing countries such as China and India, where the rising demand for consumer electronics is anticipated to boost the market growth during the forecast period.

The escalating process of industrialization, coupled with infrastructure expansion and advancements in the defense sector, is anticipated to exert a favorable influence on the demand for machinery and equipment across the APAC region. Furthermore, countries like India and China constantly invest in the defense sector. For instance, for FY 2023, the People’s Republic of China (PRC) announced an annual defense budget of about $224.79 billion.

The APAC region dominates the automotive metal stamping market. The growth is supported by the rise in vehicle production across the region. In 2022, China’s automotive industry produced nearly 24 million passenger cars. Therefore, the increase in vehicle production and a rise in demand for passenger vehicles are anticipated to surge the demand for metal stamping in the automotive industry. The process is used for generating several parts and elements that are utilized in vehicles.

Other industries, such as electronics, are experiencing strong growth in the APAC region. In South Korea, during the initial half of 2022, exports of information and communications technology (ICT) goods surged by 18.9% year-on-year to reach $123 billion, constituting 35% of the total national exports. Therefore, such factors are anticipated to support the growth of metal stamping in the region during the forecast period.

China, Japan, India, South Korea, Europe, and North America are the largest automotive production markets in the world, accounting for nearly 90% of vehicles produced globally. China held around a 32% share of global production, leading all markets in 2021. Furthermore, the domestic demand for vehicles in China, India, and certain markets outside North America and Western Europe has increased.

LIST OF VENDORS

Key Vendors

Magna InternationalGestampCIE AutomotiveAAPICO Hitech Public CompanyInterplex Holdings

Other Prominent Vendors

MicProDongguan Changdong Tool & DieMulan Manufacturing GroupHashimoto Precision MetalQingdao Hailong Machinery GroupMetal Component EngineeringConnor Manufacturing ServicesCFM HoldingsBeyonicsSunny Metal & EngineeringKnight AutoBombay MetricsCaparoEigenVeer-O-MetalsPrecision StampingsDongguan Heju Precision Electronic TechnologyRoblanLarego ToolmakingGTS Industries

SEGMENTATION & FORECAST

Process Type (Revenue)

BlankingEmbossingBendingCoiningFlangingOthers

Press Type (Revenue)

Hydraulic pressMechanical pressMechanical servo pressOthers

Material Type (Revenue)

SteelAluminumCopperOthers

End-User (Revenue)

AutomotiveIndustrial machineryElectricals & ElectronicsMedicalAerospaceTelecommunicationConstructionOthers

MARKET STRUCTURE

Market DynamicsCompetitive Landscape of APAC Metal Stamping MarketKey VendorsOther Prominent Vendors

For more information about this report visit https://www.researchandmarkets.com/r/s3u03g

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SOURCE Research and Markets