The global automotive cold forming market was valued at USD 156.71 million in 2018 and is expected to reach USD 190.91 million by 2025, growing at a CAGR of 2.86 % during the forecast period.
The overall cost of the cold forming process is low as compared to the hot forming or any other process of automotive parts manufacturing. Owing to such cost advantages, cold forming is still the major preference of OEMs across the.
Cold forming is one of the most conventional manufacturing processes in which components are formed using different types of forming techniques at room temperature and do not require any additional handling and carrying. Because of this, the overall cost of the cold forming process is low as compared to the hot forming process. Owing to such cost advantages, cold forming is still the major preference of OEMs across the globe. The automotive industry is focusing on weight reduction by replacing some of the metal-formed components with composite material and plastics. The OEMs are adopting new materials to reduce the overall weight of their vehicles to comply with government regulations and have better fuel efficiency.
South America Automotive Cold Forming Market Revenue, 2015 - 2025
The global Automotive Cold Forming market is primarily segmented based on material type, product type, application, and region. Based on material type the market is segmented into steel, aluminum, copper. Based on product type the market is segmented into bolt, locknut, Shaft, Ball stud, Hinge Pin, Rivet, Bush and others. Based on application the market is segmented into interior and exterior. Further, based on region the global market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa.
On the basis of material type, aluminum dominated the global automotive cold forming market owing to reduce the overall weight of the vehicles, major commercial vehicle manufacturing companies are using aluminum, which is rapidly replacing steel in cold forming process to make many automotive parts.
Based on product type, Bolt segment held maximum share in the global market driving safety regarding cold forming’s good and bad design. Therefore, cold forming’s safety and reliability is stringently required.
Based on application, Interior use dominated the market due to because of wide application and being the most cost-effective forming technique.
Furthermore, based on region, Asia Pacific dominated the global market due to large vehicle production in the Asia Pacific region.
There has been significant amount of strategic developments accounted in industry by the key players prevailing in the global market. For instance, in March 2017, Sussex Wire acquired Marox Corporation provider of CNC precision machined orthopedic implants and aerospace components. This acquisition supported the strategy of both companies to increase manufacturing capabilities and developing tight tolerance components.
On the basis of material type, the market is split into:
On the basis of product type, the market is split into:
* Ball stud
* Hinge Pin
On the basis of application, the market is split into:
Moreover, the market is classified based on regions and countries as follows:
* North America- U.S., Canada
* Europe- U.K., France, Germany, Italy, Spain and Rest of Europe
* Asia-Pacific- China, Japan, India and Rest of Asia Pacific
* South America- Brazil, Mexico, Argentina and Rest of South America
* Middle East & Africa- South Africa, Saudi Arabia, Turkey and Rest of Middle East & Africa
Key Market Players:
The key players profiled in the market include:
* Bharat Forge
* Skach Manufacturing Company
* Anderson Manufacturing
* Deringer Ney
* STANELY Engineered Fastening
* Sussex Wire Inc.
* Bollholf Fastenings Pvt. Ltd
* Flaig Hommel Gmbh
* Buchanan Cold forming
* SINGU KELLER
These enterprises are focusing on growth strategies, such as new product launches, expansions, acquisitions, and agreements & partnerships to expand their operations across the globe.
Key Benefits of the Report:
* Global, regional, country, material type, product type, application and market size and their forecast from 2014-2025
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific PESTLE, and supply chain to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, and unique selling points
* Analysis on key players’ strategic initiatives and competitive developments, such as joint ventures, mergers, and new Product Type launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions material type, product type, application and options with qualitative and quantitative information and facts
* Digital Caliper Manufacturers
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Government Body & Associations
* Research Institutes