The global metal stamping market size is expected to increase by USD 25.62 billion between 2020 and 2025. The market observed a YOY growth of 3.21% in 2021 and the growth momentum is expected to accelerate at a CAGR of 3.54% during the forecast period. Technavio expects the market to observe significant growth opportunities in APAC. The region currently occupies 45% of the global market share.
The metal stamping market is driven by the benefits associated with precision metal stamping. Metal stamping is a quick and efficient way of producing precision metal parts. It offers the flexibility to define and implement small features with unique configurations and tight tolerances. Moreover, metal stamping is an automated process and reduces the cost of labor, especially where production volumes are high. Many such benefits are increasing the adoption of metal stamping, thereby driving the growth of the market.
Thisauto motive industry is the primary end-user in the market. The increasing demand for stamped parts for bus bars, terminals, electrical contacts, inserts for plastic moldings, brackets, lead frames, battery cable connectors, shields, clips, and press-fit pins are driving the growth of the segment. In addition, the increasing demand for passenger cars, growing preference for electric vehicles/hybrids over internal combustion engines (ICE), and rising adoption of hot stamping technology are further influencing the growth of the segment.
