India Metal Stamping Market To Reach $6.74 Billion By 2030

India Metal Stamping Market Growth & Trends

The India metal stamping market is anticipated to reach USD 6.74 billion by 2030 and is projected to grow at a CAGR of 5.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for metal stamping is driven by the growing need for construction components from India’s construction industry. In June 2022, the Ministry of Road Transport & Highways, Government of India, launched 15 national highway projects totaling USD 1.7 billion in value. In addition, to incentivize investments in infrastructure and spur states for complementary policies, a 50-year-old interest-free loan issued to the State Governments a few years earlier has been continued for another year with an enhanced outlay of USD 16 billion.

The growing telecommunications industry in the country is a significant driving factor of market growth as metal stamping is used for tiny yet critical parts that go into devices such as cell phones, routers, main switching systems, and others. For instance, as per Invest India, the telecom industry in India is the second largest worldwide, with a subscriber base of 1.079 billion as of December 2023, and still has a largely untapped market offering tremendous revenue potential. The industry’s rapid growth in the last few years has been mainly driven by affordable tariffs, expanding 3G and 4G coverage, wider availability, favorable consumer patterns, and supportive government initiatives.

The broad range of applications metal stamping has in numerous industries such as automobile, electronics, industrial, medical, furniture, hardware tools, aerospace, and energy fosters market growth substantially. These industries have a high demand for applications such as blanking, embossing, flanging, coining, and bending to fulfill their requirements for precision components.

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India Metal Stamping Market Report Highlights

• Based on process, the blanking segment led the market with the largest revenue share of 37.4% in 2023, and is expected to grow at a considerable CAGR of 6.4% over the forecast period. The growing demand for the blanking process to cater to mass production lines involving standardization fosters segment growth

• Based on application, the automotive and transportation segment held the market with the largest revenue share of 39.4% in 2023. The rising demand for passenger and heavy vehicles and government support to form a robust electric vehicle (EV) market encourage demand for automotive components requiring metal stamping

• Based on thickness, the less than and upto 2.5 mm segment led the market with the largest revenue share of 63.7% in 2023. The growing emphasis on lightweight materials is pushing the adoption of metal sheets less than 2.5 mm for manufacturing aerospace parts

• Based on press type, the mechanical press led the market with the largest revenue share of 52.3% in 2023, due to its high relevance in manufacturing applications where high speed and volumes are required

India Metal Stamping Market Segmentation

Grand View Research has segmented the India metal stamping market report based on process, application, thickness, and press type

India Metal Stamping Process Outlook (Revenue, USD Billion, 2018 - 2030)

• Blanking

• Embossing

• Bending

• Coining

• Flanging

• Others

India Metal Stamping Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Automotive & Transportation

• Industrial Machinery

• Consumer Electronics

• Aerospace

• Electrical & Electronics

• Telecommunications

• Building & Construction

• Others (medical, furniture, hardware tools, and energy)

India Metal Stamping Thickness Outlook (Revenue, USD Billion, 2018 - 2030)

• Less than & upto 2.5 mm

• More than 2.5 mm

India Metal Stamping Press Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Mechanical Press

• Hydraulic Press

• Servo Press

• Others
  

List of Key Players in the India Metal Stamping Market

• Caparo

• Magna International Inc.

• AMW Autocomponent

• CIE Automotive

• ASAL (TATA Autocomp Systems Limited)

• JBM Group

• HIGHCO

• BOMBAY METRICS SUPPLY CHAIN PVT. LTD.

• Gestamp

• Eigen

• Chennai Metal Stamping Pvt. Ltd.

• Synergy Global Sourcing

• M. Coil Spring Manufacturing Company

• Presco-Mec Group

• Victora Group