North America Metal Stamping Market Growth and Analysis by 2028

The North America metal stamping market is expected to grow from US$ 85.27 billion in 2020 to US$ 107.35 billion by 2028; it is estimated to grow at a CAGR of 3.2% from 2021 to 2028.

The US, Canada, and Mexico are the major economies in North America. The manufacturing industry is witnessing a massive investment in various advanced industrial machinery. The US aerospace and defence, automotive sectors have been the major driving factors of the need for metal stamping industrial machinery, as the requirement for manufactured metal products is high in these industries. As the trend of Industry 4.0 has gained momentum throughout the manufacturing sector, it also affects the market of industrial machinery to become a part of the smart systems. Industry 4.0 can improve the use of industrial machinery in fabrication operations by cutting down on idle time. The trade deal between the US and China, which could significantly increase Chinese imports of US agricultural products, may increase agricultural equipment investment. The 2020 Capital Spending Survey projects next year's machine tool consumption to decline to US$ 6.993 billion by 5% compared to 2019. However, this level of buying industrial machinery is still above the historical average for buying an annual machine tool from the country. Further, the rising demand for industrial machinery across various industrial applications is expected to provide substantial market growth opportunities across developed economies in the coming years. Thus, during the forecast period, the manufacturing sector can deliver numerous profitable business opportunities for market players. The use of distributed fabrication enables manufacturers to reduce lead times and drastically save on freight costs.

The integration of metal stamping is increasing owing to the demand for economical and light weight equipment, better fuel economy, and better comfort. At present, the automotive industry is experiencing significant incorporation of various advanced technologies in cars to improve the passengers' safety and efficiency. The metal stamping market is anticipated to grow at a moderate pace during the forecast period due to growing preference for electric vehicles (EVs), sports utility vehicles, and off-road vehicles. These metal stampings parts help in manufacturing body panels to maintain safety standards and control end-costs. Due to growing investments to set up factories and expand production houses of the automobiles, the demand for passenger vehicles and commercial vehicles is increasing, which, in turn, is anticipated to generate an upward trend in the metal stamping market during 2021–2028. Similarly, the commercial aircraft industry is growing since the past few years. Several operators in this industry are focusing on the development, manufacturing, and rebuilding of airplanes, helicopters, aircraft engines as well as several other components for the commercial sector. Therefore, increasing production rate by the top companies such as Airbus and Boeing is expected to drive the demand for commercial aircraft, while boosting the growth of the metal stamping market across North America.

In the last few decades, telecom operators and Communication Service Providers (CSP’s) have experienced a significant change in number of end users and their varying demands. Value-added and data services have emerged as one the prime revenue sources in comparison to voice communication revenues. Also, growing demographics across the regions, and their dynamic demands for services have propelled the growth of telecom sector. Thus, the installation of new antenna and tower across the region for better connectivity is boosting the demand of metal stamping. The demand for metal stamping parts is increasing in the telecommunications industry as they enhance the durability of telecom products. The availability of advanced technology along with high demand for premium telecom products is anticipated to augment the growth of the market for metal stamping over the coming years.

The North America region especially the US witnessed an unprecedented rise in number of confirmed cases resulting in large-scale lockdown across different regions as well as industrial activities. As a result, several small & medium enterprise owners have limited their industry personnel whereas many other have laid off non-essential employees shortly owing to restricted business operation. In addition to this, the companies have minimized the allocated budget for manufacturing of metal stamping owing to economic slowdown, which affected the business activities. Thus, the market is expected to witness a major drop in the demand from the end users for the current year and the subsequent years to recover from the impact of COVID-19 pandemic.

North America Metal Stamping Market Revenue and Forecast to 2028 (US$ Bn)

North America Metal Stamping Market Segmentation

North America Metal Stamping Market – by Process

• Embossing
• Bending
• Blanking
• Coining
• Flanging
• Others

North America Metal Stamping Market – by Application

• Automotive
• Aerospace
• Telecommunications
• Electrical and electronics
• Industrial machinery
• Others

North America Metal Stamping Market – by Country

• US
• Canada
• Mexico

North America Metal Stamping Market - Companies Mentioned

• ACRO Building Systems (ACRO Metal Stamping)
• Clow Stamping Company
• D&H Industries, Inc.     
• Goshen Stamping Company     
• Kenmode, Inc.            
• Integrity Manufacturing, Inc.    
• Manor Tool & Manufacturing Company          
• Caparo Group    
• Klesk Metal Stamping Co.        
• Tempco Manufacturing Company, Inc.

North America Metal Stamping Report Scope