Automotive Hydroformed Parts Market Outlook 2030 -
Hydroforming is a metal fabricating and forming process which allows shaping of metals such as steel, stainless steel, copper, aluminium, and brass. Hydroforming is a special type of die forming that uses high pressurized hydraulic fluid to press room temperature working material into a die to give it a desired shape. Conventional stamping process uses welded joints, rivets to form a particular component but now with the help of hydroforming unibody components can be manufactured. The different types of hydroforming processes are tube hydroforming and sheet hydroforming. In sheet hydroforming one die and a sheet of metal has been used where the raw sheet is driven into the die with the help of high-pressure water on one side of the sheet. This high-pressure water moulds a sheet in the die forming the desired shape. Moreover, in tube hydroforming the metal tubes are expanded in a desired shaper using two die halves. It mostly used in the automotive industry, and it is used for manufacturing of light weight vehicles and complex automotive parts. In addition, hydroformed parts are cheaper, durable, manufacturing time is less, it is an automated process, and creates little waste than other processes.
COVID-19 Impact Analysis:
Due to COVID-19 pandemic government across all the major countries have announced lockdown and various other strict regulations. The pandemic has led to shutdown of manufacturing units in the automobile sector thus disrupting the demand for hydroformed parts. Also, due to the pandemic the demand for vehicles has fallen since lowering of people’s disposable income which further affected the automotive hydroformed parts market. Moreover, since the outbreak, curfews have been imposed in almost every country, wherein only a few authorized individuals are allowed to travel, resulting in further decline in the sale of automobiles. In addition, social distancing norms and other restrictions has led to unavailability of labour which delayed the manufacturing process. Also, due to the lockdown supply was affected since, there was unavailability of raw materials required for manufacturing of hydroformed parts. Thus, COVID-19 pandemic had a negative effect on the growth of automotive hydroformed parts market
Top Impacting Factors
- Rise in stringent government rules regarding emission, rise in demand for light weight vehicle, and rise in vehicle production is expected to drive growth of the market.
- However, rise in usage of composite material and high initial capital investments can hamper growth of the market.
- Moreover, rise in sales of electric and hybrid vehicles, rise in complex automotive parts, and rise in better & durable automotive parts act as an opportunity for growth of the market.
Market Trends
Rise in demand for light weight vehicles
Due to stringent emission norms by government worldwide original equipment manufacturers (OEMs) have shifted their focus on building light weight vehicles by using aluminium and composites material. This material will help in reducing the vehicle weight along with lowering the fuel consumption since low energy will be consumed during acceleration. For instance, European Union (EU) in April 2019 announced that the average fuel economy across the manufacturers fleet should be equivalent to 57 United States (U.S) miles per gallon mpg in 2021 and targeted to increase it to 92 miles per U.S gallons by 2030. Therefore, OEMs are focusing on making the vehicles lighter thus, it is expected to drive growth of automotive hydroformed parts market.
Key Benefits of the Report:
- This study presents the analytical depiction of the automotive hydroformed parts marketalong with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive hydroformed parts market.
- The current market is quantitatively analyzed to highlight the automotive hydroformed parts market growth scenario.
- The report provides detailed automotive hydroformed parts market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the automotive hydroformed parts market research report:
- Which are the leading market players active in the automotive hydroformed parts market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the automotive hydroformed parts market?
- What are the projections for the future that would help in taking further strategic steps?
Automotive Hydroformed Parts Market Report Highlights
| Aspects | Details |
 By Type |
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 By Material |
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 By Vehicle Type |
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 By Region |
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 Key Market Players | Tata Precision Tubes, Magna International, Sango Co. Ltd., Nissin Kogyo, Metalsa, Thyssenkrupp AG, Yorozu, F-Tech, Alf Engineering, Tenneco |
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