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The India Automotive stamping Market, By Stamping Type (Hot Stamping and Cold Stamping), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Three Wheelers and Two Wheelers), by Material Type (Steel, Aluminum and Others), by Process Type (Progressive Die Stamping, Transfer Stamping and Tandem Stamping) and by 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)) - Global Forecast to 2027”, is expected to be valued at US$ 10,397.9 million by 2027, witnessing a CAGR of 10.8% during the forecast period (2019-2027), as highlighted in a report published by . Market Definition Automotive stamping is the process of pressing sheet into required form with the help of tools and die surface. Generally, this process is carried out on a metal sheet although it can also be used on other materials such as polystyrene. The automotive stamping industry produces numerous products such as valves for large stamping parts including fenders, exhaust systems, roofs, brake shoes, and fuel delivery systems. There are different types of stamping processes including hot stamping, cold stamping, tandem stamping, progressive die stamping, and transfer stamping. In cold stamping, forming process is done with a cold metal sheet, i.e. without changing temperature of the raw material. In hot stamping, heating of steel blanks is carried out followed by stamping and rapid cooling in specially designed dies. This process is typically used to improve crash safety and weight reduction. The India automotive stamping market was accounted for US$ 4519.6 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecasted period (2019-2027) Market Driver Increasing OEM investment in the country is expected to drive growth of the India automotive stamping market over the forecast period. Proactive initiatives taken by the government to support growth of automotive industry in India and make it a world-class hub are expected to attract significant investment. This, in turn, is expected to increase the demand for stamping facility and thereby drive the market growth in the near future. Furthermore, large pool of consumers and cost-effective production in India are a few more factors boosting the investment in India from OEMs. Key OEMs making investment in India are Mercedes, Renault Nissan, Volkswagen, Isuzu Motors, etc. According to the Department of Industrial Policy and Promotion (DIPP), in 2016, foreign direct investment (FDI) in the automotive industry increased by 11% from 2010-2015. Moreover, the India automotive industry accounts for 45% of the total GDP from the manufacturing sector. This, in turn, is expected to drive the market growth in the near future. Market Opportunities Increasing investment in advanced technologies is expected to offer excellent growth opportunities for market players in the near future. Indian automotive industry is growing at a rapid pace with significant opportunities for market players to encompass major market share. Increasing investments in automotive industry have helped in development of novel technologies. Moreover, it has helped manufacturers remain updated to incorporate new technologies, which in turn, is expected to favor suppliers with advanced manufacturing capabilities. Thus, significant investment in advanced technology is expected to pose lucrative business opportunities in the near future. Market Restraints Growing adoption of plastic and composite materials along with instability in metal prices are expected to restrain the India automotive stamping materials market growth over the forecast period. Key companies in the market are increasingly using plastic and composite materials such as reinforced plastics metal matrix composites as a substitute for sheet metals. These materials are available at considerably low prices and in bulk as compared to sheet metal, which in turn, is expected to hinder the demand for automotive stamping. Moreover, prices of metals are volatile, which is a challenging factor for tier II and III manufacturers. This, in turn, is expected to restrain the market growth in the near future. Market Trends

  1. Tier II and Tier III manufacturers are focused on one-stop solutions

OEMs and Tier I players have the leverage of high capital investment where they can provide end-to-end services including research & development, product development, tools & dies design, and manufacturing stamped materials. On the contrary, Tier II and Tier III suppliers, who have small capital, are focusing on enhancing their capabilities toward dying production and tool manufacturing so that they can provide one-stop solution and sustain in immense competition.

  1. Growing focus on aluminum stamping is another major trend in the market

Automakers are focused on producing car parts that are lightweight where they can maximize fuel efficiency of the vehicle. This has led OEMs to focus on aluminum alloy stamped components, which can ensure require strength and light weighting of vehicles. Thus, stamping component providers are focused on producing aluminum stamped products, in order to cater to increasing demand from OEMs. This trend is likely to continue during the forecast period. 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 companies are focused on capacity expansion, in order to enhance their market presence. For instance, in February 2017, Gestamp Automobile India Private Limited inaugurated its new hot stamping plant in India.
  2. Key players in the market are involved in forming strategic alliances with other market players, in order to gain competitive edge in the market. For instance, in May 2018, JBM Auto Limited, subsidiary of JBM Group, entered into a joint venture with Jay Bharat Maruti and Oghihara Thailand for a new tool room.

Segmentation Market Taxonomy:

  1. By Stamping Type
  • Hot Stamping
  • Cold Stamping
  1. By Vehicle Type
  • Passenger Vehicles
  • Commercial Vehicle
  • Three-Wheeler
  • Two-wheeler
  1. By Material Type
  • Steel
  • Aluminum
  • Others
  1. By Process Type
  • Progressive Die Stamping
  • Transfer Stamping
  • Tandem Stamping
  1. 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

 

 

 

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