The report titled “Metal Forming Market” sheds a concentrated focus on the Metal Forming industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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The Metal Forming Market for automotive is projected to grow at a CAGR of 3.2% from 2020 to 2025, to reach USD 202.23 Billion by 2025 from USD 172.56 Billion in 2018.
Top Companies Profiled in the Metal Forming Market:
- Magna (Canada)
- Benteler (Germany)
- Tower International (UK)
- Toyota Boshoku (Japan)
- Aisin Seiki (Japan)
- Kirchhoff (US)
- CIE Automotive (Spain)
- Mills Products (US)
- VNT Automotive (Austria)
- Superform Aluminum (US)
- irotec (Japan)
“Hydroforming market is projected to show the fastest growth by forming technique segment”
Hydroforming is one of the most advanced forming techniques used in the automotive industry. It is generally used to manufacture hollow tube structures such as manifolds, exhaust cones, and a few suspension components. As hydroforming is comparatively expensive, it is mostly used by premium car manufacturers.
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“Cold forming is estimated to be the largest market by forming type and is projected to maintain its position in the forecast period”
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. The cold forming process is simpler than the hot forming process and does not require any additional setup cost.