Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Metal stamping is a manufacturing procedure used to convert flat metal into desired shapes. Automotive stamping is a type of metal stamping, in which high volume sheet metal parts are processed for automotive OEMs are aftersales market. The automotive stamping industry produces a wide range of products manufactured from sheet metal including bracket, plate holder, roofs, fenders, valves, exhaust systems, brake shoes, and fuel delivery systems. Different types of procedures are used in automotive stampings such as cold stamping, hot stamping, progressive die stamping, transfer stamping, and tandem stamping. The stamping market India is classified as Automotive OEMs with in-house stamping capabilities, Stamped component supplier, and stamping service provider.

The India automotive stamping market was accounted for US$ 4,519.6 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecasted period (2019-2027)

Market Dynamics-Drivers

  1. Increasing production and sales of vehicles is expected to drive growth of the India automotive stamping market during the forecast period.

There has been significant growth in four-wheeler production in India and marginal growth in two & three-wheeler production. This is owing to growing demand from domestic as well as international consumers. This, in turn, has increased the demand for automotive stamping. Furthermore, growth of automotive sales in India is due to growing disposal income, increasing consumer confidence, credit availability, and affordable interest rates. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles” (OICA), in 2015, motor vehicle production in India reached to 4.1 million units, which is up by 7.3% from 2014, which pegged at 3.8 million units. Furthermore, according to the Automotive Component Manufacturers Association of India (ACMA), in 2015, three-wheeler production in India was 19.8 million units.

  1. High growth in export of automotive components is expected to propel the India automotive stamping market over the forecast period

In 2008 and 2009, the automotive components industry showed substantial growth, even during the economic crisis. The automotive components export account for around 30% of the total revenue. As India is a rampantly emerging automotive components hub for engine and transmission parts, it is expected to increase the demand for automotive stamping in the near future. Moreover, this demand will compel OEMs and tier 1 manufacturers to manage their production capacity by establishing a new process for stamping automotive components. This, in turn, is expected to fuel the market growth over the forecast period.

Market Restraints

  1. Pressure on suppliers for cost reduction is expected to restrain growth the India automotive stamping market over the forecast period

In the recent past, automakers have focused on weight reduction and performance improvements. However, in order to achieve these two features, automakers need to use advanced materials that are more expensive than conventional materials. Moreover, manufacturers are focused on cost reduction, which becomes a challenging job considering present competition in the market. This, in turn, has limited the pricing flexibility in the automotive stamping market, thereby restraining growth of the India automotive stamping market in the near future.

  1. Restricted use of new technologies, owing to complexity and high cost are expected to hinder the India automotive stamping market growth during the forecast period

The Indian automotive industry is comprised of a large pool of Tier II and Tier III companies that are involved in production of sheet metal components and assemblies. These companies are unwilling to invest in new products and technologies due to higher costs. Furthermore, complex operation of newly installed technologies is another factor hamper established players in the market from adopting the technology. This, in turn, is expected to hinder the India automotive stamping market growth in the near future.

Market Opportunities

  1. Significant investment in advanced technologies are expected to pose lucrative growth opportunities for market players

Investing in the latest and advanced technologies can prove to be beneficial for key market players. Since the automotive industry in India is growing at a rapid pace, both automotive production and sales have increased significantly in the recent past. Moreover, increasing investment has led to continuous incorporation of advanced technologies, which is expected to pose significant growth opportunities for market players in the near future.

  1. Enhancement in stamping technology is expected to pose excellent business opportunities for market players in the near future

Advent of latest technology has improved the existing stamping processes and technologies. These advanced technologies can provide better performance to manufacturers, thereby enhance the overall product quality. For instance, precision stamping uses high tonnage presses and stamping dies to forge sheets of metal into complete or semi-complete parts. It includes complex stamping applications with stamping, folding, drawing, or piercing of a product in a single series operations. This, in turn, is expected to offer conducive growth opportunities for market players during the forecast period.

India Automotive Stamping  | Coherent Market Insights

 Source: Coherent Market Insights

Segment information:

In India automotive stamping market, by vehicle type segment, passenger vehicle sub segment dominated the India automotive stamping market in 2018, accounting for 38.4% share in terms of value, followed by commercial vehicle and three wheelers, respectively.

India Automotive Stamping  | Coherent Market Insights

Market Trends

  1. Growing application of hot stamping process is a major trend in the market

Hot stamping has been extensively used in the automotive industry as it facilitates production of lightweight automotive components with higher strength. More importantly, it is cost-efficient to produce complex parts without pressing issues. Hot stamping is widely used in manufacturing of safety-critical parts and components such as A and B-pillar reinforcements and other body components. Moreover, this process has been extensively incorporated in various economies including China, Europe, and North America. In February 2017, Gestamp Automobile India Private Limited invested US$ 40 million to establish a hot stamping plant in Pune to tailor increasing demand for safer and lightweight vehicles in the country.

  1. Growing partnerships among OEMs and stamped components suppliers is another major trend in the market

Growing collaborations and partnerships between OEMs and stamped component suppliers, in order to enhance product development and manufacturing are expected to be the major trend in the India automotive stamping market over the forecast period. OEMs and stamped components suppliers have been forming collaborations and partnerships, which has smoothened the operations and fulfilled the demand for products. Furthermore, OEMs are focused on reducing their vendor base, in order to minimize account management. For instance, in February 2017, Gestamp Automobile India Private Limited set up a new plant in Pune, in order to provide increasing demand for stamped component requirement from Ford, Tata Motors, and Fiat Chrysler Automotive (FCA).

Value Chain Analysis

India Automotive Stamping  | Coherent Market Insights

 

India Automotive Stamping  | Coherent Market Insights

 

India Automotive Stamping  | Coherent Market Insights

Competitive Section

Key players operating in the India automotive stamping market are Automotive Stampings and Assemblies Ltd., JBM Group, Klt Automotive And Tubular Products Limited, Autocomp Corporation Panse Pvt. Ltd., Omax Auto Ltd., Mahindra CIE Automotive Limited, Sona Koyo Steering Systems Limited, Harsha Engineers Limited, Tata Autocomp Systems Limited, Cosma International (India) Private Limited, Yeshshree Press Comps Private Limited, Gestamp Automobile India Private Limited, Surin Automotive Private Limited, Skh Metals Limited, and Caparo India.

Key Developments

  1. Key players in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in February 2019, JBM Group acquired a majority stake in Linde-Wiemann GmbH KG, a German supplier and manufacturer of complex structural components and assemblies in automotive industry.
  2. Major companies in the market are involved in agreement and partnerships, in order to enhance their market presence. For instance, in June 2019, Tata Autocomp Systems Limited, an Indian auto component maker, entered into an agreement with Fortaco Group for the manufacturing of safety cabins for off-highway vehicles in India.

Stamping can be defines as a manufacturing process where flat sheet metal is placed into a stamping press in the form of blank or coil, and the tool or die of the stamping press converts that flat metal sheet into a desired shape is known as stamping. Automotive stamping is the part of stamping where the automotive components such as doors, roofs, side panels among others are manufactured using stamping process. Automotive stamping process is majorly done for flat sheet metals but can also be performed on other materials, such as polystyrene.

Market Dynamics

Growing demand of commercial vehicles owing to increasing construction activities across the globe is expected to drive the demand for automotive stamping market during the forecasted period. As heavy duty vehicle components are manufactured using sheet metals such as truck body, roofs, doors, fender among other. These components are majorly manufactured using stamping process which is expected to drive the demand for automotive stamping market during the forecasted period (2019 - 2027). For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA) data in 2018,  407,056 heavy duty trucks were manufactured in India which is around 43.4 % more than the heavy duty trucks manufactured in 2017. Furthermore, in 2018 according to OICA,  663.2 thousand units light duty trucks were manufactured in India which is around 31.5 % more than the light duty trucks manufactured in 2017. All the above stats shows that the market for automotive stamping in India is expected to grow at a substantial rate during the forecasted period (2019-2027)

Market Taxonomy

This report segments the India automotive stamping market on the basis of stamping type (hot stamping and cold stamping. On the basis of vehicle type, passenger vehicles commercial vehicles, three wheelers and two wheelers. On the basis of material type steel, aluminum and others. On the basis of process type progressive die stamping, transfer stamping and tandem stamping. And on the basis of material type (body stamping, (BIW parts and chassis), non-body stamping (engine parts, transmission & steering parts, braking & suspension parts, electrical parts, fuel delivery, emission & filtration, safety, equipment & seating system, lighting components and cooling system))

Key features of the study:

  • This report provides an in-depth analysis of the India automotive stamping market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the India automotive stamping market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key players operating in the India automotive stamping market are Automotive Stampings and Assemblies Ltd., JBM Group, Klt Automotive And Tubular Products Limited, Autocomp Corporation Panse Pvt. Ltd., Omax Auto Ltd., Mahindra CIE Automotive Limited, Sona Koyo Steering Systems Limited, Harsha Engineers Limited, Tata Autocomp Systems Limited, Cosma International (India) Private Limited, Yeshshree Press Comps Private Limited, Gestamp Automobile India Private Limited, Surin Automotive Private Limited, Skh Metals Limited, and Caparo India.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The India automotive stamping market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the India automotive stamping market

Detailed Segmentation:

  •  India automotive stamping Market, By stamping type:
    • Hot Stamping
    • Cold Stamping
  • India automotive stamping Market, By vehicle type:
    • Two-wheeler
    • Passenger Car
    • Three-wheeler
    • Two-wheelers
  • India automotive stamping Market, By Material Type:
    • Steel
    • Aluminum
    • Others
  • India automotive stamping Market, By Process Type:
    • Progressive Die Stamping
    • Transfer Stamping
    • Tandem Stamping
  • India automotive stamping Market, By Product Type
    • Body Stamping
      • BIW Parts
      • Chassis
    • Non-body Stamping
      • Engine Parts
      • Transmission & Steering Parts
      • Braking & Suspension Parts
      • Electrical Parts
      • Fuel Delivery, Emission & Filtration
      • Safety Equipment & Seating System
      • Lighting Components
      • Cooling System
  • Company Profiles
    • Automotive Stampings and Assemblies Ltd*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • JBM Group
    • Klt Automotive And Tubular Products Limited
    • Autocomp Corporation Panse Pvt. Ltd
    • Omax Auto Ltd
    • Mahindra CIE Automotive Limited
    • Sona Koyo Steering Systems Limited
    • Harsha Engineers Limited
    • Tata Autocomp Systems Limited
    • Cosma International (India) Private Limited
    • Yeshshree Press Comps Private Limited
    • Gestamp Automobile India Private Limited

*Browse all the market data tables and figures on "India automotive stamping Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Stamping Type
      • Market Snippet, By Vehicle Type
      • Market Snippet, By Material Type
      • Market Snippet, By Process Type
      • Market Snippet, By Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. India Automotive Stamping Market, By Stamping Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Hot Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Cold Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. India Automotive Stamping Market, By Vehicle Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Passenger Vehicles
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Commercial Vehicle
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Three Wheelers
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Two Wheelers
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. India Automotive Stamping Market, By Material Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Steel
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Aluminum
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Other
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. India Automotive Stamping Market, By Process Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Progressive Die Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Transfer Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Tandem Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  8. India Automotive Stamping Market, By Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Body Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • BIW Parts
      • Chassis
    • Non-Body Stamping
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Engine Parts
        • Transmission & Steering Parts
        • Braking & Suspension Parts
        • Electrical Parts
        • Fuel Delivery, Emission & Filtration
        • Safety Equipment & Seating System
        • Lighting Components
        • Cooling System
  9. Competitive Landscape
    • Company Profiles
      • Automotive Stampings and Assemblies Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • JBM Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Klt Automotive And Tubular Products Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Autocomp Corporation Panse Pvt. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Omax Auto Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mahindra CIE Automotive Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sona Koyo Steering Systems Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Harsha Engineers Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tata Autocomp Systems Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Cosma International (India) Private Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Yeshshree Press Comps Private Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Gestamp Automobile India Private Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on "Automotive Stamping Market - India forecast to 2027”.

Frequently Asked Questions

The India automotive stamping market is estimated to exhibit a CAGR of 10.8% during the forecast period (2019-2027).
Major players operating in the India automotive stamping market include Automotive Stampings and Assemblies Ltd., JBM Group, Klt Automotive And Tubular Products Limited, Autocomp Corporation Panse Pvt. Ltd., Omax Auto Ltd., Mahindra CIE Automotive Limited, Sona Koyo Steering Systems Limited, Harsha Engineers Limited, Tata Autocomp Systems Limited, Cosma International (India) Private Limited, Yeshshree Press Comps Private Limited, Gestamp Automobile India Private Limited, Surin Automotive Private Limited, Skh Metals Limited, and Caparo India.
Pressure on suppliers for cost reduction and limited application of new technologies, owing to complexity and high cost are some of the major factors that are expected to hamper growth of the market over the forecast period.
The increasing production and sales of vehicles, coupled with high growth in export of automotive components are some of the major factors that are expected to augment growth of the market over the forecast period.
Rising application of hot stamping process is one of the major trends that has been observed in the market.
The India automotive stamping market is expected to be valued at US$ 10,397.9 million by 2027.
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