Market Dynamics:
Increasing automotive production is one of the major drivers propelling the growth of India automotive stamping market over the forecast period. As per data from Society of Indian Automobile Manufacturers, India's domestic automobile production rose by 13.2% to touch a record 26.36 million vehicles in Financial Year 2022. Growing middle-class population, increasing disposable...
The India automotive stamping market is experiencing significant growth driven by rising production of passenger cars. Automotive stamping involves shaping metal or polymer sheet/coil into semi-finished or finished automobile body parts using dies. Major products manufactured through stamping include bumpers, chassis, closures, wheels, and interior and exterior automotive parts. Stamping...
The global India Automotive stamping Market is estimated to be valued at US$ 4655.93 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The automotive stamping market in India has a huge potential due to the rapidly growing automobile...
India's automotive industry has seen unprecedented growth over the past decade, propelling the country to become the 4th largest automotive producer in the world. As vehicle manufacturing increases, so too does the demand for automotive stamping - the process of pressing or stamping sheets of metal into desired shapes and parts. India's automotive stamping sector has emerged as a critical cog...
Though vehicle sales declined in FY21 due to the pandemic, India continues to offer promising growth prospects for automakers. The government's initiatives such as 'Make in India' and relaxed FDI norms have attracted significant investments from global OEMs to establish or expand vehicle and component manufacturing facilities in the country. Major automakers like Mercedes-Benz, Volkswagen,...
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