Automobile Metal Stamping in the US - Industry Market Research Report

Hard pressed: Industry revenue will continue to rebound from the effects of the pandemic

Manufacturers in the automobile metal stamping industry have had to contend with difficult times in recent years. The outbreak of the pandemic brought the economy to a halt and forced everyone to stay home. So, the economic hardship and the lack of need for transportation caused all auto-related industries to fall off, forcing them to cut back on costs as much as possible. Following the end of these restrictions, demand growth buoyed manufacturers. But the recovery was constrained by sky-high commodity prices, as the rapidly rising economy brought demand much higher than the limited supply produced during lockdowns, crushing profit. Vertically integrated auto manufacturers have been turning to Mexico for large chunks of their production process, including metal stamping, as far lower labor costs and a continually appreciating US dollar made it for more cost-effective. Altogether, industry has been falling at a CAGR of 3.9% to $37.8 billion over the past five years, despite an anticipated growth of 1.4% in 2023 alone. Companies in this industry manufacture metal vehicle parts such as body panels, trim pieces, bumpers and other structural components from sheet metal using either a machine press or stamping press. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.