PUBLISHER: The Business Research Company | PRODUCT CODE: 1662552
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662552
Automotive sheet metal components encompass various parts and elements of a vehicle crafted from robust and durable sheet metal. This material is known for its resilience, withstanding greater pressure and heat compared to plastic components.
The primary material types used in automotive sheet metal components are steel and aluminum. Steel, a sturdy alloy of iron and carbon, is commonly employed in constructing the vehicle's foundational chassis, door beams, roofs, and body panels, serving as the structural framework that forms the vehicle's core. These components are distributed through diverse channels, including offline and online sales, and are utilized in different areas of the vehicle such as interior, drivetrain, engine, exterior, and chassis.
The automotive sheet metal components market research report is one of a series of new reports from The Business Research Company that provides automotive sheet metal components market statistics, including automotive sheet metal components industry global market size, regional shares, competitors with an automotive sheet metal components market share, detailed automotive sheet metal components market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive sheet metal components industry. This automotive sheet metal components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive sheet metal components market size has grown steadily in recent years. It will grow from $133.29 billion in 2024 to $138.84 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to traditional manufacturing processes, vehicle production volumes, cost-effectiveness, structural strength requirements, design flexibility.
The automotive sheet metal components market size is expected to see strong growth in the next few years. It will grow to $172.26 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to electric vehicle adoption, integration of advanced safety features, global regulatory standards, smart connectivity requirements, supply chain resilience. Major trends in the forecast period include lightweighting for fuel efficiency, complex geometries and advanced forming techniques, electrification impact on component design, increased use of aluminum alloys, supply chain resilience and localization.
The increasing demand for electric vehicles (EVs) is expected to drive growth in the automotive sheet metal components market in the future. Electric vehicles are powered by an electric motor that draws electricity from a battery and can be charged from an external source. To enhance efficiency, EVs rely heavily on lightweight materials, prompting automakers to replace traditional steel components with aluminum, magnesium, and other lightweight alloys. This shift in material preferences is likely to increase the demand for sheet metal components that can be shaped, stamped, and welded into complex forms. For instance, in November 2023, the U.S. Energy Information Administration, a government agency in the US, reported that the share of battery-electric vehicles (BEVs) in new light-duty vehicle sales reached 17.7% in the third quarter of 2023. Furthermore, BEVs accounted for 16.0% of total new vehicle sales so far this year, an increase from 12.5% in 2022 and 9.0% in 2021. This data highlights a significant upward trend in the demand for electric vehicles, reflecting growing consumer preference and market expansion. Therefore, the rising adoption of electric vehicles will boost the automotive sheet metal components market.
The growth of the automotive sheet metal components market is further driven by stringent fuel efficiency regulations. Governments and regulatory agencies worldwide are establishing fuel efficiency regulations to lower fuel consumption, reduce greenhouse gas emissions, and promote environmental sustainability. Manufacturers are responding by incorporating high-strength steel sheets and advanced lightweight alloys to decrease overall vehicle weight. Automotive sheet metal components play a crucial role in achieving weight reduction due to their exceptional strength-to-weight ratio. An example is the National Highway Traffic Safety Administration's announcement in April 2022 of new corporate average fuel economy standards in the United States, aiming for a fleet-wide average of approximately 49 miles per gallon for passenger cars and light trucks by model year 2026. The implementation of stricter fuel efficiency regulations is set to drive the automotive sheet metal components market.
Technological advancements emerge as a prominent trend in the automotive sheet metal components market, with major companies focusing on innovation to strengthen their market position. In September 2022, Desktop Metal Inc., a US-based firm specializing in design and 3D printing systems, introduced the Figur G15. This platform utilizes cutting-edge Digital Sheet Forming (DSF) technology to mold standard sheet metal on demand directly from a digital design file, eliminating the need for stamping equipment, molds, dies, or presses. The proprietary build box design reduces force distribution during construction, ensuring excellent precision in a flexible, progressive manner. The Figur G15 addresses high initial costs and long lead times associated with specialized tools, making sheet metal forming accessible to new applications and improving business agility in the digital era.
Prominent companies in the automotive sheet metal components market are strategically focusing on collaboration with major manufacturing counterparts to fortify their market position. Strategic collaborations enable companies to form alliances with firms possessing expertise that can transform envisioned concepts into tangible realities. An illustrative example is Novelis Inc., a US-based industrial aluminum manufacturing company, which announced a strategic partnership with Sortera Technologies, Inc., a US-based metal processing company specializing in industrial scrap metal sorting and recycling, in July 2022. Novelis aims to leverage Sortera's cutting-edge sorting technologies, including data analytics and sophisticated sensors, to enhance the recycling and repurposing of a larger volume of automotive post-production and post-consumer scrap. Sortera's innovative sorting technology will assist Novelis in segregating various alloys from automotive waste, including aluminum sheet components, redirecting them back into the production of similar goods, promoting sustainability in the industry.
In August 2022, Markforged Holding Corp, a US-based creator of an integrated metal and carbon fiber additive manufacturing platform, made a strategic move by acquiring Digital Metal from Hoganas AB for $32 million. This acquisition significantly expands Markforged's capabilities in high-throughput metal additive component production, aligning with its vision for distributed manufacturing by delivering high-volume production of accurate metal parts directly to the market. Digital Metal, a Sweden-based firm specializing in additive manufacturing, contributes to Markforged's portfolio by offering expertise in automotive sheet metal components and part production services. This strategic acquisition reinforces Markforged's commitment to staying at the forefront of innovation in the automotive sheet metal components market.
Major companies operating in the automotive sheet metal components market include Novelis Inc., Aleris International Inc., General Stamping and Metal Works, O'Neal Manufacturing Services, Mayville Engineering Company Inc., Larsen Manufacturing LLC, Amada Co. Ltd., Paul Craemer GmbH, Omax Autos Ltd., Frank Dudley Ltd., Jobro Sheet Metal Technology AB, ABC Sheet Metal, A&E Manufacturing Co. Inc., General Sheet Metal Works Inc., Autoline Industries Ltd., JBM Group, SKH MANAGEMENT STRATEGY SERVICES INDIA LLP, Spare Autotech (P) Ltd., KDM Steel, Suzhou Jinming Precision Manufacturing Co. Ltd., Approved Sheet Metal, Quintus Technologies AB, China Steel Corporation, Alpha Manufacturing Ltd., Associated Commercial Enterprises, Repute Steel and Engineering Company, Trans-Matic Manufacturing Company Inc., Magna International Inc., Tower International Inc., Martinrea International Inc., Gestamp Automocion S.A., BENTELER Automotive Pvt. Ltd.
Asia-Pacific was the largest region in the automotive sheet metal components market in 2024. The regions covered in the automotive sheet metal components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive sheet metal components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive sheet metal components market consists of sales of mild steel, stainless steel. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Sheet Metal Components Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive sheet metal components market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive sheet metal components ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive sheet metal components market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.