Global Metal Stamping Die Manufacturers Demand and their Trends
The face of the global metal stamping industry is rapidly shifting towards progress. There is a great boost in sales and visible trends that are changing over the last few years. The industry is estimated to grow to US$307.4 Billion by the year 2026 at a CAGr of 4.08%, and this was mentioned during the forecast period. It is expected that consumer products in industries such as automotive, electronics, and industrial engineering will further drive the metal stamping business. Metal stamping die manufacturers keep in mind the demand and trends to keep up with the client requirements and ensure that they have a strong grip on the market.
Market Overview for the Metal Stamping Die Manufacturers
This is one of the most promised periods of growth as mentioned during the forecast. Year 2020-2025 has a lot of growth potential. The year 2020 didn’t seem to go as planned due to the COVID-19 pandemic taking the global economy by storm, but there are still some important points for businesses to keep in mind during this time, and some of them are:
- There is a massive increase in the demand from the automotive industry and the growth can also be attributed to the reduced manufacturing costs in precision metal stamping. Sheet metals can be cut into the desired shapes and sizes at a low cost and at a faster rate than before, and this has also given a rise in the overall growth. Precision in metal stamping is also aimed at increasing fuel efficiency in the automotive industry.
- It is expected that the metal stamping die manufacturers will experience a major demand in the increased use of sheet metal for the production of transmission components, automobile chassis, exterior and interior structural components.
- There is a rising production of cars and trucks and this also means that there will be increased demand for technology during this period. Metal stamping die manufacturers cannot shy away from or hold on their decisions to embrace or implement technological innovations such as a hybrid electromagnetic metal stamping machines, and the likes, which are expected to drive positive results to the growth of the company and there are also less chances of breakdowns with the use of efficient technology.
- Computing is rapidly taking over in the metal stamping industry. Automation, robotic processes, cloud computing, are just some of the technological advancements that are being implemented by the manufacturers aiming at improving their production, quality, and delivery capabilities.
- Technological advancements in the machining tools with increased production capabilities, efficiency, and reduced cost. Metal stamping die manufacturers who implement the latest in their unit are able to keep up with the trend and get the best for their business.
Trends to Watch out for from 2020-2025
With the increasing demand there may often be a gap between what the manufacturer would like to do with the current process or technology within the organization. However, it is important to take out time and ensure that you keep up with the trend to make sure that when the demand increases, changes, or is something new, you as a manufacturer are prepared to make the best out of the opportunity. According to market research reports and analysis, the Asia Pacific is known to have the largest share in the global metal stamping industry which is then followed by North America and Europe. The shift of manufacturing of precision metal stamping in Asia Pacific is due to the increased industrialization, the rapidly increasing aviation and automobile industry, massive developments in infrastructure, and a boom in the investments from government and private sectors. However, with the maps shifting and progressing, here are some of the important things that manufacturers should never miss out on:
Automation is one of the most talked-about technologies in several sectors. Most industries from Information technology to Retail Sales are now getting on to automation. This helps them reduce the tremendous amount of cost on their overall operations. Apart from the cost, the businesses are also able to use their resources on better productivity and efficiency wherein human cognitive skills are required. Automation may seem to be expensive for metal stamping die manufacturers, but in the long run, this will yield many results for the business. With increased demand from the global clientele, the expectation will be to keep up with the constant supply. This will help manufacturers to keep up with the trends.
There are several software and tools introduced to achieve efficiency in the metal stamping industry. Computer technology is a must and the manufacturers should do well to keep up with the ones that are trending. Look for the latest design software, the upcoming tools in die design, and so on. Implementing computer technology will ensure that you achieve efficiency within the manufacturing unit. In a high paced sheet metal stamping environment, it is not just the metal stamping but everything from supply chain to delivery of the finished products that count. Good technology will help you keep up with this requirement and in the best books of the customers as well.
Good QA Process
QA process pays not just in the short duration of a project but in the longer time of a manufacturing cycle. It is not just the precision in the quality of sheet metal stamping, but it is the overall cost that can be saved as well. QA process helps manufacturers to identify any flows in the earlier stages and as a result save wastage of time, raw material, efforts and cost in the long run. An efficiency QA team will also make sure that they make the best use of technology.
Choose a Trustworthy Sheet Metal Stamping Manufacturer
With so many manufacturers claiming to be the best, it is often a challenge to hire or partner with the right metal stamping manufacturers. It is not just about the claims, but also validation that needs to be checked before hiring one. In this regard, Eigen is renowned to be one of the best manufacturers in the global market. With over 13 years of operating in the metal stamping industry, Eigen has evolved with time and is quick to embrace the latest technology for growth. The end goal of the manufacturer is to make sure that they keep up with the efficiency of projects and also keep the cost low by using the latest technology and techniques. With good connectivity in the international market, Eigen is renowned to provide the best manufacturing and delivery on time.
Ujjwal handles crucial roles like Senior Manager Marketing, researcher, and is an author for KDDL – Eigen. He currently works with Eigen for implementing proven techniques and strategies for marketing plans on online and offline platforms. An expert in efficiently executing SEO, SEM, email marketing, social media marketing, PR marketing, Print campaigns, etc. Ujjwal has coordinated an efficient marketing team on various creative campaigns and programmatic buying to support various digital cross-promotion efforts. Implement efficient search optimization strategies with the help of collateral material and metrics.
In his former years, Ujjwal has years of experience in a managerial role for several reputed companies. His years of experience combined with the flair of writing help him come up with result oriented strategies for Eigen.