Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Global Automotive Stamped Component Market_written | Page 2

over the past few years, the global automotive stamped component market has been growing rapidly mainly
due to the burgeoning automotive manufacturing sector, worldwide, that is witnessing increasing unit sales
and production. Furthermore, technological advancements transpired in the field is a key driving force
escalating the market on the global height.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) in its recently
published study report asserts that the global automotive stamped component market is estimated to
expand exponentially by 2023 registering approximately 4% CAGR during 2017 to 2023.
Additionally, factors substantiating the growth of the market include the ever-increasing population and
urbanization. Improving economic conditions are improving people’s quality of lives, increasing consumer’s
purchasing power. Technological advancements transpired in the automotive field coupled with the demand
from the automotive industry for more efficient and responsive, manufacturing processes are providing
impetus to the market growth.
On the other hand, high investment capital and concerns associated with the establishment of processes are
impeding the market growth. Nevertheless, increasing number of automotive unit sale worldwide is
expected to support the market growth, attracting multiple investors to the market.
Global Automotive Stamped Component Market - Segments:
MRFR has segmented its analysis into six key dynamics for the convenience of understanding;
By Technology: Bending, Flanging, Embossing, Coining, and Blanking among others.
By Station Type: Single, and Progressive among others.
By Stamping Process
:
Mechanical, Hydraulic, and Pneumatic among others.
By Forming Temperature: Hot and Cold.
By Vehicle Types: Passenger Vehicles, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles
(HCV) among others.