The automotive die-stamping equipment market will register a CAGR of over 3% by 2023
NEW YORK, April 23, 2019 /PRNewswire/ --
About this market
The augmented demand from APAC is one of the critical factors expected to boost the automotive die-stamping equipment market. The increase in the investments for electric vehicles will be a key factor for the growth of the die-stamping equipment market in the Chinese automotive sector. Other Asian economies including Singapore, Thailand, Philippines, Indonesia, and Malaysia have also witnessed a drastic increase in FDI for the automotive sector coupled with several government initiatives for boosting the manufacturing sector. This will further lead the automotive die-stamping equipment market to witness considerable growth in the forthcoming years. Analysts have predicted that the automotive die-stamping equipment market will register a CAGR of over 3% by 2023.
Read the full report: https://www.reportlinker.com/p05387026/?utm_source=PRN
Market Overview
Use of lightweight metals in automotive industry
One of the growth drivers of the global automotive die-stamping equipment market is the use of lightweight metals in automotive industry. The automotive industry is shifting toward the adoption of lightweight aluminum die-stamped products due to stringent government regulations which will increase the demand for servo stamping presses.
Increased price competition
One of the challenges in the growth of the global automotive die-stamping equipment market is the increased price competition. The availability of low-cost-die-stamping equipment and the increase in demand for refurnished die-stamping equipment have drastically affected the sales of new die-stamping equipment.
For the detailed list of factors that will drive and challenge the growth of the automotive die-stamping equipment market during 019-2023, view our report.
Competitive Landscape
The market appears to be highly fragmented with the presence several market players. Vendors in the market are collaborating with automotive manufacturers to develop cold stamping machinery that can handle ultra-high-strength steels. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p05387026/?utm_source=PRN
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