The India Automotive Stamping Market is estimated to be valued at US$ 4655.93 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The India Automotive Stamping Market is the process of creating shapes in metal sheets and coils by using stamping process through a press or stamping machine. Automotive stamping is used to produce body panels, door frames, bumpers and other components of automobiles.

Market Overview:

The automotive stamping market in India produces various auto components such as front-end modules, doors, closures, floors, and structural parts through this process. The automotive stamping provides advantages such as durability, strength and enables mass production of components cost-effectively. With the growing automotive production in India, the demand for automotive stamping is also expected to rise substantially over the forecast period.

Market key trends:

One of the major trends in the Global India automotive stamping market size is increased automotive production. According to Society of Indian Automobile Manufacturers (SIAM), the overall automobile production in India increased from 24.5 million units in 2016-17 to 29.1 million units in 2019-20, showing an increase of around 19%. This is expected to significantly drive the demand for automotive stamping in India. Further, the growing emphasis on cost optimization and product innovation is encouraging market players to adopt advanced technologies like hot stamping for production of high strength steel parts. This is anticipated to open new opportunities for growth of India automotive stamping market during the forecast period.

Porter’s Analysis

Threat of new entrants: Low as the automotive stamping industry requires huge capital investment for setting up manufacturing plants. Bargaining power of buyers: Moderate as major OEMs have high bargaining power over stamping suppliers. Bargaining power of suppliers: Low due to presence of large number of suppliers in the market. Threat of new substitutes: Low as there are limited substitutes available for automotive stamping. Competitive rivalry: High due to presence of several domestic and international players.

SWOT Analysis

Strength: Established manufacturing facilities and presence across various automobile hubs of the country. Weakness: Low investing in advanced stamping technologies. Opportunity: Growing demand for electric vehicles and commercial vehicles. Threats: Rising metal prices and fluctuations in foreign exchange rates.

Key Takeaways

The  India automotive stamping market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing vehicle production. Regional analysis

The India automotive stamping market is expected to dominate in South region during the forecast period owing to presence of major automobile manufacturing hubs like Chennai, Bengaluru, and Hyderabad that are home to leading OEMs such as Tata Motors, Mahindra & Mahindra, Toyota etc.

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