Automotive sheet metal components are flat metal pieces of varying thickness formed by metal forming processes such as cutting, bending and drawing using various types of presses and dies. Considering the growing focus towards fuel conservation and need to cut down the emission, the very market is expected to witness significant growth during forecast period.The research analyst at AMA estimates Automotive Sheet Metal Components market to grow at a compounded annual growth rate of 4.0%
AMA Research have segmented the market of Global Automotive Sheet Metal Components market by Type, Application and Region. On the basis of Type, Steel are dominating the market in the year 2020 where as Aluminium stood as second largest market share.
On the basis of geography, the market of Automotive Sheet Metal Components has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2020.
Focus on Downsizing the Automobile Engine and Emphasizing on Vehicle's Weight Reduction has Led to Rise in Demand of Aluminium Sheet Metals
Rising Demand for Light weight Vehicles in Order to Increase Fuel Efficiency, Growing Number of Hybrid and Electric Vehicles and Stringent Government Regulations Regarding Emission from Automotive
Rising Vehicle Production and Sales Especially in Developing Countries
- Fluctuating Prices of Steel and Aluminium Metals
In addition to the aforementioned factor, Rising Demand for Light weight Vehicles in Order to Increase Fuel Efficiency
is expected to propel the growth of the market over the forecast period.
The key Vendors profiled in the study are Novelis Inc. [United States], Aleris International [United States], Mayville Engineering Company [United States], O'Neal Manufacturing Services [United States], General Stamping & Metalworking Inc. [United States], Larsen Manufacturing [United States], Amada [Japan], Paul Craemer GmbH [Germany], Frank Dudley [United Kingdom] and Omax Autos [India]. A lot of United States players are profiled in the research study indicating a strong market dependence.