Metal Forming Market 2024 | Size, Top Trends, Growth, Share, Key Drivers | Benteler International AG, Toyota Boshoku Corporation, Magna International Inc., Hirotec Corporation, Tower International

Overview and Scope
Metal forming refers to the process in which metals are formed and shaped using compressive forces to change their physical and chemical properties and achieve the desired size and shape. It is used to create metal parts and elements for a variety of industries.

Sizing and Forecast
The metal forming market size has grown steadily in recent years. It will grow from $192.54 billion in 2023 to $201.15 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to automotive industry growth, materials innovation, demand for lightweight materials, globalization of manufacturing, energy and power industry expansion, replacement and upgradation cycles..

The metal forming market size is expected to see steady growth in the next few years. It will grow to $233.91 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to rise of electric vehicles (evs), sustainable manufacturing practices, demand for high-strength materials, renewable energy infrastructure projects, global supply chain resilience.. Major trends in the forecast period include industry 4.0 integration, advanced materials and alloys, microforming technologies, digital twin technology, customization and flexible manufacturing, human-robot collaboration.

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Segmentation & Regional Insights
The metal forming market covered in this report is segmented –

1) By Forming Type: Cold Forming, Hot Forming, Warm Forming
2) By Material Type: Steel, Aluminum, Magnesium, Other materials
3) By Technique: Roll Forming, Stretch Forming, Stamping, Deep Drawing, Hydroforming, Other Technologies
4) By Application: Body in White (BIW), Chassis, Closures, Other Applications
5) By End-User: Automotive, Transportation, Industrial Machinery, Construction, Precision Engineering, Other End-users

Asia-Pacific was the largest region in the metal forming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global metal forming market during the forecast period. The regions covered in the metal forming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Rise in the automotive industry is expected to propel the growth of the metal-forming market going forward. The automotive industry refers to the businesses involved in the manufacture, distribution, retail, and upkeep of automobiles. Metal forming in the automotive industry is used to manufacture a wide range of components and parts such as body and chassis components, engine components, suspension components, and exhaust system components. For instance, in November 2022, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association of motor vehicles, UK’s car production has risen to 7.4% to 69,524 units as compared to the previous years. Additionally, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the rise in the automotive industry is driving the growth of the metal-forming market.

Key Industry Players
Major companies operating in the metal forming market report are Benteler International AG, Toyota Boshoku Corporation, Magna International Inc., Hirotec Corporation, Tower International, Aisin Corporation, CIE Automotive, Bradbury Group, Formtek Moulding Solutions, Mestek Machinery, VNT Automotive GmbH, Westway Machinery, AES Automotive Company Pvt. Ltd., Samco Machinery, Mills Products Inc., Luxfer Group, PMF Industries Inc., PECTEC Corporation, Corrugated Metals Inc., Paramount Roll & Forming Inc., Miro Manufacturing Inc., BROT Incorporated, Jorgenson Metal Rolling & Forming Inc., Southern Metal Fabricators Inc., Delta Steel Inc., Metalspun Products Co. Inc., SEPAC Inc., Roderick Industries Inc., QCMI Corp., O’Neal Manufacturing Services, BTD Manufacturing Inc.

The metal forming market report table of contents includes:

1. Executive Summary

2. Metal Forming Market Characteristics

3. Metal Forming Market Trends And Strategies

4. Metal Forming Market – Macro Economic Scenario

5. Global Metal Forming Market Size and Growth


32. Global Metal Forming Market Competitive Benchmarking

33. Global Metal Forming Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Metal Forming Market

35. Metal Forming Market Future Outlook and Potential Analysis

36. Appendix

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