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Motor Vehicle Body, Stamped Metal & Other Parts Global Market Report 2022

Motor Vehicle Body, Stamped Metal & Other Parts Global Market Report 2022

  • May 2022
  • 300 pages
  • ID: 6277693
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the motor vehicle body, stamped metal, & other parts market include General Motors Co, Tenneco Inc, Magna International Inc, Lear Corp, Faurecia SA, Continental AG, Mitsubishi Motors Corp, Plastic Omnium SA, Autoliv Inc, and Aisin Seiki Co ltd.

The global motor vehicle body, stamped metal & other parts market is expected to grow from $1,213.62 billion in 2021 to $1,332.74 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The market is expected to grow to $1,860.64 billion in 2026 at a compound annual growth rate (CAGR) of 8.7%.

The motor vehicle body, stamped metal, & other parts market consists of sales of motor vehicle bodies, stamped motor vehicle metals, & other motor vehicle parts and related services by entities (organizations, sole traders, and partnerships) that produce motor vehicle stampings, such as fenders, tops, body parts, trim, and moldings or produce and/or rebuild motor vehicle parts and accessories (except motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering and suspension components, motor vehicle brake systems, motor vehicle transmissions, and power train parts, motor vehicle seating and interior trim, and motor vehicle stampings).

The main types in the motor vehicle body, are stamped metal, & other parts of the motor vehicle body, stamped metal, other parts.Stamped metal refers to metal stamping Is utilized in auto parts manufacturing, it is a cost-effective fast, and versatile manufacturing method.

The various applications include passenger vehicles, commercial vehicles. These are used OEM, aftermarket.

Asia Pacific was the largest region in the motor vehicle body, stamped metal, & other parts market in 2021.Western Europe was the second largest market in motor vehicle body, stamped metal, & other parts market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

Advances in technology are expected to be a continued driver of market growth in the forecast period.The motor vehicle body, metal stamping & other parts industry has experienced many technological advances in the last decade and this trend is expected to intensify.

According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the motor vehicle body, metal stamping & other parts market during the forecast period.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle body, metal stamping & other parts market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe.

As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components.Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns.

The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle body, metal stamping & other parts market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Motor vehicle parts manufacturers are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency.IoT is a system of "connected devices" with the ability to collect and exchange data over a network without any human intervention and assistance.

IoT helps motor vehicle parts manufacturers to increase their efficiency by providing real-time information about production processes.In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures.

For instance, German car parts maker Robert Bosch signed an agreement with software company SAP to connect its manufacturing machinery, tools, and vehicles to SAP’s back-end software.This IoT technology uses SAP’s real-time database HANA to monitor and support the production of automobile parts.

The global automotive IoT market is expected to reach 106.32 billion by 2023. According to IDC and SAP, 60 % of global manufacturers use analytics data tracked from IoT-connected devices to analyze the manufacturing processes.

The countries covered in motor vehicle body, stamped metal, & other parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

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