The motor vehicle body parts consists of metal stamping, & other parts manufacturing market also includes the sales of motor vehicle bodies, stamped motor vehicle metals, & other motor vehicle parts by different organizations manufacturing motor vehicle stampings, such as fenders, tops, body parts, trim, and moldings or producing and/or rebuilding of motor vehicle parts and accessories. An automotive body part also consists of components which make up interior and exterior parts of a vehicle. These parts majorly come in different shapes & sizes, and are further designed for the vehicle-safety along with the design artistic point of view.
According to study, “Motor Vehicle Body, Metal Stamping & Other Parts Market Global Market Report 2019” the key companies operating in the global motor vehicle body, metal stamping & other parts market are Lindy Manufacturing, Acro, Gestamp, Alcoa Inc., Trans-Matic. Some of key market players are leveraging the new opportunities by expanding their presence and product offerings portfolios. The players associated to Motor Vehicle Body, Metal Stamping and Other Parts manufacturers are dedicated to lower their manufacturing cost. On the other hand, they try in providing qualified products to their customers. Besides, manufactures/companies also trying to broaden their applications of motor vehicle body, metal stamping and other parts.
Based on product type, motor vehicle body, metal stamping & other parts market is segmented into vehicle seating & interior trim, motor vehicle body, fabric accessories & trimmings, metal stamping and seat belts & safety straps. In addition, based on application, market is segmented into commercial vehicle and private vehicle.
The motor vehicle body, metal stamping & other parts market is driven by increase in investments in automotive industry, followed by emerging economic growth and increase in production of vehicles & electronic components.. However, increase in competition and rise in cost of raw materials may impact the market. Moreover, rise in demand for motor vehicles & motor vehicles part and increase in disposable income are key opportunities for market. Furthermore, as per prevailing trend in motor vehicle body, metal stamping, & other parts market includes the usage of 3-D printer for manufacturing motor vehicle body. The rapid prototyping and special computer software, vehicle parts are further designed and produced a model by using a 3-D printing techniques. The use of such technology have increased the wide scale productivity, reduces designing and production time, identifies flaws at a much shorter time before the production and which further reduces the cost.
Based on geography, the Asian-Pacific region dominates the motor vehicle body, metal stamping & other parts market owing to growth in industrialization coupled with infrastructure development in the region. Whereas, the North-American and European regions are projected to exhibit substantial growth rate due to rise in demand from automotive industry and growth in consumer electronics industry over the forecast period. In near future, it is predicted that future of the market will be optimistic as a rest of growth in demand for electric vehicles and increase in production of passenger cars, buses, light commercial vehicles, and heavy trucks during the forecast period.
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Ankur Gupta, Head Marketing & Communications