How has the motor vehicle body, stamped metal & other parts market evolved, and where is it heading next?
The motor vehicle body, stamped metal & other parts market size has grown strongly in recent years. It will grow from $1539.39 billion in 2024 to $1650.81 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased automotive production, economic cycles, technological advancements, environmental regulations, consumer preferences.
The motor vehicle body, stamped metal & other parts market size is expected to see strong growth in the next few years. It will grow to $2103.08 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing demand for electric vehicles (evs), sustainability, global supply chain disruptions, trade policies, digitalization and industry 4.0, customer experience and customization. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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What are the key drivers behind the rapid expansion of the motor vehicle body, stamped metal & other parts market?
The increasing demand for electric vehicles (EV) is expected to propel the growth of the motor vehicle body, stamped metal, and other parts market going forward. An electric vehicle (EV) is a type of vehicle that is powered by one or more electric motors, using electricity stored in batteries or other energy storage devices as its primary source of energy. Electric vehicles (EVs) utilize advanced motor vehicle body designs, stamped metal, and other specialized parts to achieve lightweight structures, improved aerodynamics, and enhanced performance, aligning with the unique demands of electric drivetrains and battery systems. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase to 14 million sales of electric vehicles in 2023. Therefore, the increasing demand for electric vehicles (EVs) is driving the growth of the motor vehicle body, stamped metal, and other parts market.
What is the segmentation for the motor vehicle body, stamped metal & other parts market?
The motor vehicle body, stamped metal & other parts market covered in this report is segmented –
1) By Type: Motor Vehicle Body, Stamped Metal, Other Parts
2) By Application: Passenger Vehicle, Commercial Vehicle
3) By End Use: OEM, After market
Subsegments:
1) By Motor Vehicle Body: Full Vehicle Body, Chassis, Structural Components
2) By Stamped Metal: Outer Body Panels, Inner Body Panels, Structural Parts, Sheet Metal Components
3) By Other Parts: Engine Components, Suspension Components, Exhaust System Components, Transmission Components
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Who are the most influential companies in the motor vehicle body, stamped metal & other parts market?
Major companies operating in the motor vehicle body, stamped metal & other parts market include General Motors Co., Tenneco Inc., Magna International Inc., Lear Corporation, Faurecia SA, Continental AG, Mitsubishi Motors Corp, Plastic Omnium SA, Autoliv Inc., AISIN Seiki Co. Ltd., FCA Warren Stamping Plant, Ford Motor Company, Martinrea Heavy Stampings Inc., Challenge Manufacturing Company, ArtiFlex Manufacturing LLC, Gestamp Chattanooga LLC, Quality Metalcraft Inc., Shiloh Industries Inc., PDQ Tool & Stamping Co., Integrity Manufacturing, Alcoa Inc., ACRO Engineering Company, Lindy Manufacturing Company Inc., Autokiniton, ThyssenKrupp AG, Schaeffler AG, Benteler Automotive Corporation, Kenmode Precision Metal Stamping, Gestamp Servicios SA.
Which market trends are set to define the future of the motor vehicle body, stamped metal & other parts market?
Motor vehicle parts manufacturers are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. IoT is a system of connected devices with the ability to collect and exchange data over a network without any human intervention or assistance. IoT helps motor vehicle parts manufacturers increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures. For instance, German car parts maker Robert Bosch signed an agreement with software company SAP to connect its manufacturing machinery, tools, and vehicles to SAP’s back-end software. This IoT technology uses SAP’s real-time database HANA to monitor and support the production of automobile parts. The global automotive IoT market is expected to reach 106.32 billion by 2023. According to IDC and SAP, 60 % of global manufacturers use analytics data tracked from IoT-connected devices to analyze their manufacturing processes.
Which geographic trends are shaping the motor vehicle body, stamped metal & other parts market, and which region has the highest market share?
Asia-Pacific was the largest region in the motor vehicle body, stamped metal, & other parts market in 2023. Western Europe was the second largest market in motor vehicle body, stamped metal, & other parts market. The regions covered in the motor vehicle body, stamped metal, & other parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
What Does The Motor Vehicle Body, Stamped Metal & Other Parts Market Report 2025 Offer?
The motor vehicle body, stamped metal & other parts market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Motor vehicle body, stamped metal & other parts refer to the components that make up the exterior and structural parts of vehicles, often made from stamped metal, which involves shaping metal sheets through a stamping process. These parts include various metal components that contribute to the vehicle’s overall structure and safety. It is crucial for vehicle durability, design, and performance.
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