India Automotive Stamping Market Is Growing At a Rapid Pace Due To Increase in Production and Sales of Vehicles
Automotive stamping is a type of metal stamping, a method of processing sheet metals and converting them into different shapes and sizes according to specific needs and applications in automobiles. Metal stamping includes five major processes such as flanging, coining, bending, embossing, and blanking among others. Automotive stamping is used to manufacture a wide range of products (from sheet metal) such as fuel delivery systems, brake shoes, exhaust systems, valves, fenders, roofs, plate holders, and brackets. A variety of processes are used in automotive stamping such as tandem stamping, transfer stamping, hot stamping, cold stamping, and progressive die stamping.
Since the automotive industry in India is growing at a rapid pace, both automotive production and sales have increased significantly in the recent past. The increasing demand for passenger vehicles and an increase in production and sales of vehicles is a major driving factor for the market. Around 4.4 million passenger cars and commercial vehicles were sold in India in 2018. Moreover, according to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in India increased by 26.45% to 272,027 units in September 2020, in comparison to 215,124 units in September 2019. Furthermore, the rising trend of engine downsizing for lighter and better fuel-efficient vehicles is expected to augment the India automotive stamping market.
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