The automotive hydroformed parts market is estimated to be valued at US$ 12.888 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive hydroformed parts refer to the structural components manufactured through hydroforming process. Hydroforming utilizes liquid pressure to form metal components into desired shapes. This process provides benefits such as reducing weight, improving strength and dimensional accuracy over traditional metal forming methods. Key automotive components produced through hydroforming include bumpers, beams, rails and others. This technology helps automakers reduce vehicle weight and improve fuel efficiency.
Market Dynamics:
Increasing automotive production globally is a major driver fueling growth of the automotive hydroformed parts market. Rising vehicle ownership rates in emerging economies coupled with stringent emission regulations is propelling vehicle production. According to International Organization of Motor Vehicle Manufacturers, global motor vehicle production increased from around 93 million units in 2017 to over 95 million units in 2019. Growing emphasis on lightweight materials for fuel efficiency is also driving adoption of hydroformed components in the automotive industry. Additionally, advancements in hydroforming technologies are enabling production of more complex parts in shorter timeframes, supporting market growth.
SWOT Analysis
Strength: The automotive hydroforming process helps manufacturers produce complex automotive components that are strong, lightweight and cost-effective. Hydroforming increases functionality while reducing component weight by around 30%. It allows the production of seamless, complex parts that cannot be produced through other conventional manufacturing methods.
Weakness: Initial investment required for setting up hydroforming facilities is high as it involves expensive hydroforming presses and dies. Frequent replacement of dies increases operating costs. Lack of skilled labor for operating advanced hydroforming technologies.
Opportunity: Increasing adoption of lightweight materials in automobiles to meet stringent fuel efficiency and emission norms provide growth opportunities. Demand for vehicle electrification is opening up opportunities to hydroform battery housing and electric vehicle chassis parts.
Threats: Fluctuations in raw material prices can impact profit margins. Shift towards 3D printing and additive manufacturing technologies poses a threat to certain hydroforming applications over the long run.
Key Takeaways
The global Automotive Hydroformed Parts Market Growth is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing adoption of lightweight solutions by OEMs to meet emission regulations.
Regional analysis
Asia Pacific dominated the global market in 2023, accounting for around 35% share, owing to high vehicle production in China, India, Japan and South Korea. Europe is anticipated to witness significant growth at 8.1% CAGR during the forecast period due to focus on electric vehicle adoption.
Key players
Key players operating in the automotive hydroformed parts market are Alf Engineering, F-TECH, Magna International, Metalsa, Nissin Kogyo, Sango Co., Ltd., Tata Precision Tubes, Tenneco, Thyssenkrupp AG, Vari-Form, and Yorozu. Magna International, Metalsa and Thyssenkrupp AG hold major market share due to their global presence.
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The Automotive Hydroformed Parts Market research report is a written presentation of clear and accurate detailing of findings and recommendations that will aid in decision-making.
The element of the report includes market size, driver, challenges, restraints, trends, emerging opportunities, and competitive panel along with their share for the forecast timeline of 2020-2025.
The global automotive hydroformed parts market report presents a complete research-based study of the industry including details such as company shares, forecast data, in-depth analysis and an outlook of the market on a worldwide platform.
Get FREE Sample Report Copy @ https://www.decisiondatabases.com/contact/download-sample-46331 According to this study, over the next five years, the Automotive Hydroformed Parts market will register a 10.0% CAGR in terms of revenue, the global market size will reach $ 4920.8 million by 2025, from $ 3366 million in 2019.
This automotive hydroformed parts market report also splits the market by regions: Americas (United States, Canada, Mexico, Brazil), APAC (China, Japan, Korea, Southeast Asia, India, Australia), Europe (Germany, France, UK, Italy, Russia, Spain), Middle East & Africa (Egypt, South Africa, Israel, Turkey, GCC Countries).
Aluminum TypeBrass TypeCarbon TypeStainless Steel TypeOthers Segmentation by application: breakdown data from 2015 to 2020, in Section 2.4; and forecast to 2024 in section 11.8.
Hydroforming is one of the most advanced forming techniques used in the automotive industry.The Automotive Hydroformed Parts market is very fragmented market; the revenue of top ninteen manufacturers accounts about 43% of the total revenue in 2018.Geographically, the global Automotive Hydroformed Parts market has been segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa.
The Asia-Pacific held the largest share in the global market, its consumption of global market exceeds 36% in 2018.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-hydroformed-parts-2019-2024-191 According to this study, over the next five years the Automotive Hydroformed Parts market will register a 10.0% CAGR in terms of revenue, the global market size will reach US$ 4465 million by 2024, from US$ 2777.6 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Automotive Hydroformed Parts business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Hydroformed Parts market by product type, application, key manufacturers and key regions and countries.
This study considers the Automotive Hydroformed Parts value and volume generated from the sales of the following segments: Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Aluminums TypeBrass TypeCarbon TypeStainless Steel TypeOthers Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
