U.S. And Mexico Metal Stamping Market size is expected to reach USD 76.2 billion by 2030

 U.S. And Mexico Metal Stamping Industry Overview

The U.S. and Mexico metal stamping market size was valued at USD 51.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030.

 

Growing demand from various industries such as Electric Vehicles (EVs), industrial machinery, and consumer appliances are the key growth drivers for the market. Consumer appliances are witnessing growth owing to rapid technological advancements. Rising preference towards precise metal components in the industry is benefitting metal stamping demand. Factors such as growing demand for smartphones, artificial intelligence, reducing prices of electronics, and replacement cycles are expected to augment the growth of the consumer appliances industry, and thus, drive demand for metal stamping across the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the U.S. And Mexico Metal Stamping Market

 

The U.S. is among the leading consumers of metal stamping. Its growth in the consumer appliances industry is anticipated to propel at a faster rate owing to the rising demand for smartphones. The U.S. is one of the largest consumers of mobile phones in the world with more than 290 million active users, as of 2021. The growing adoption of EVs in the U.S. is projected to further drive the metal stamping market across the forecast period. Sales of EVs surged in the country and automotive industry giants are planning to begin manufacturing to cater to the rising demand. For instance, in November 2021, Hyundai Motor Group announced its plan to begin the manufacturing of Genesis GV70 EVs in the U.S. by 2022.

 

Growing demand for home appliances is further anticipated to propel metal stamping demand in the country. For instance, according to the United States Census Bureau, sales of household appliance stores increased by more than 7% from 2020 to 2021. The total sales in 2020 were USD 18,330.0 million whereas the sales were USD 19,757.0 from January to November 2021. Furthermore, investments in automation and robotics are anticipated to positively influence the market. For instance, in October 2020, Volkswagen’s passenger and commercial cars divisions ordered over 2,200 new robots for producing EVs at plants in the U.S.

 

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports

  • Nanomaterials Market: The global nanomaterials market size was valued at USD 9.39 billion in 2021 and is expected to register at a CAGR of 14.9% during the forecast period.
  • Neodymium Market: The global neodymium market size was valued at USD 2.07 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.

 

Market Share Insights

  • November 2021
  • May 2021: General Motors decided to invest USD 40 million for the renovation and installation of new flexible fabrication machinery presses at its Pontiac stamping plant. This investment is to support EV production in the future.

 

Key Companies Profile

Some of the prominent players in the U.S. and Mexico metal stamping market include:

  • ACRO Metal Stamping
  • Ford Motor Company
  • Goshen Stamping Company
  • Harvey Vogel Manufacturing Co.
  • Kapco Metal Stamping
  • Magna International Inc.
  • Martinrea International Inc.
  • Oberg Industries
  • Pacific Metal Stampings, Inc.
  • Tower International

 

Order a free sample PDF of U.S. And Mexico Metal Stamping Market Intelligence Study, published by Grand View Research.

 

 

Comments

Post a Comment

Popular posts from this blog

Global Potash Market: Trends, Growth & Forecast 2023-2032

T he global  potash market  size is expected to reach USD 93.50 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032, according to a new study by Grand View Research, Inc. This is attributed to the increasing demand for food and efficient usage of agricultural land. As consumers seek healthier options, there has been a surge in demand for high-value crops like fruits, vegetables, and specialty crops, boosting the demand for potash. Furthermore, the adoption of precision agriculture techniques has become increasingly prevalent in recent years. Precision agriculture involves using advanced technologies and data-driven approaches, such as soil testing and targeted nutrient management, to make informed decisions about fertilizer application.   Farmers are embracing precise and site-specific methods for applying fertilizers, based on field variability and crop requirements. This trend makes way for optimized resource utilization, improved crop performance, and enhanced...
Read more

Smart Ticketing Market Report: Emerging Technologies & Market Opportunities

  The global smart ticketing market size is expected to reach USD 31.65 billion by 2030, growing at a CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. With the widespread adoption of smartphones, mobile ticketing channels have gained traction, allowing users to purchase, store, and validate tickets directly on their mobile devices, eliminating the need for physical cards or paper tickets. The convenience and ease of use offered by mobile ticketing have contributed to the growth of the market. Smart ticketing systems generate vast amounts of data on passenger journeys, travel patterns, and ticket usage.   Operators leverage this data to gain valuable insights, optimize operations, and improve the overall passenger experience. Data analytics techniques, such as predictive modeling and real-time monitoring, are being applied to enhance efficiency, manage capacity, and offer personalized services, which bode well for smart ticketing...
Read more

Boosting Crop Yields: India Foliar Fertilizer Market Trends & Forecasts

  The  India foliar fertilizer market  size is expected to reach USD 4.9 billion by 2030, expanding at a CAGR of 11.3% during the forecast period, as per a new report by Grand View Research, Inc. The industry growth is majorly driven by surged demand for food due to increasing population coupled with supportive government initiatives and decreasing arable land in the country.   There has been a significant increase in the global prices of fertilizers and foliar fertilizers. As such, farmers falling into small- and marginal-income categories cannot afford to buy fertilizers resulting in reduced agricultural yields. This has led the Government of India to take initiatives to provide fertilizer subsidies to farmers in the country to make them affordable at subsidized prices. For instance, the Government of India announced a subsidy scheme related to fertilizers worth USD 27 billion in 2022 to ensure that fertilizers are affordable for every farmer in the country. Thus, ...
Read more