by The India automotive stamping market is integral to automotive manufacturing as stamping is used to form vehicle body panels and parts from sheet metal. Automotive stamping offers benefits such as mass production capabilities and design flexibility. The India automotive stamping industry is largely concentrated on pressed metal components for vehicles along with body panels. Demand for automotive stamping is derived from the automotive manufacturing industry where stamping provides a cost-effective solution for producing large volumes of components with intricate designs.
The Global India automotive stamping Market is estimated to be valued at US$ 5363.64 Mn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the India automotive stamping market are Avery Dennison Corporation, CCL Industries Inc., Multi-Color Corporation, UPM Raflatac, 3M Company, Brady Corporation, RR Donnelley & Sons Company, Mondi Group, WS Packaging Group, Inc., Constantia Flexibles Group, Fuji Seal International, Inc., Consolidated Label Co., Resource Label Group, LLC, Inland Label & Marketing Services, LLC, Fort Dearborn Company.
Growing demand: The India Automotive stamping Market Demand is driven by strong from the domestic automotive industry in India owing to factors such as growing per capita income, rising vehicle ownership and increasing vehicle production levels in the country.
Global expansion: Leading automotive stamping players based in India are also exploring opportunities in key international export markets for their auto components such as North America and European countries. This is driving the global expansion of the India automotive stamping market.
Market Key Trends
One of the major trends in the India automotive stamping market is the development of lighter yet stronger aluminum alloys for body panels and components. The increasing use of aluminum stampings helps reduce vehicle weight and thus improve fuel efficiency in automobiles. Leading automakers are focusing on greater adoption of aluminum body panels for both commercial vehicles as well as passenger cars manufactured in the country. This represents a significant opportunity for aluminum suppliers and metal forming companies operating in the India Automotive stamping Market business.
Porter’s Analysis
Threat of new entrants: The automotive stamping market is a highly capital-intensive industry which requires high investments for setting up manufacturing units. This makes entry of new players difficult.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to the presence of a large number of suppliers in the market. Buyers can negotiate on price and demand better product features.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute materials and parts. Suppliers’ dependence on automakers for business also restricts their bargaining power.
Threat of new substitutes: Threat from substitutes is low as automotive stamping continues to be the most viable and economical option for automakers.
Competitive rivalry: The market is consolidated with large players capturing major market share. Intense competition exists based on product quality, technology, pricing and delivery.
Geographical Regions:
Asia Pacific accounts for the largest share of the global automotive stamping market due to strong automotive manufacturing sectors in countries such as China, India, Japan, and South Korea. North America is the second largest market.
The India automotive stamping market is projected to grow at the fastest rate during the forecast period. This can be attributed to increasing domestic production of passenger and commercial vehicles in the country driven by rising disposable incomes, improved road infrastructure and growing financing options.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
