LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive die-stamping equipment market to grow at a CAGR of close to 4% during the period 2018-2022, according to their latest report.
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In this report, Technavio analysts highlight the increasing adoption of upgradable dies as a key factor contributing to the growth of the global automotive die-stamping equipment market:
High-cost saving with increasing adoption of upgradable dies
The high price of a die in the automotive manufacturing poses a challenge to the market. The manufacture of a full vehicle involves the use of six or more dies according to specific models by different auto manufacturers. The capital investment involved in designing, engineering, and purchasing the die can be reduced by adopting upgradable dies. An upgradable die is a prototype die that can be upgraded as a production die, and it needs less maintenance and can be used extensively. An upgradable die reduces the number of dies required to approximately three dies for the entire manufacturing process of a vehicle right from the R&D stage to the production stage.
According to a senior analyst at Technavio for automotive manufacturing research, “The adoption of this process has helped in reducing the capital investment by reducing the number of dies used by automakers. The adoption of an upgradable die reduces the overall cost of equipment maintenance by USD 300,000 when compared with the conventional system used in the market. The entire savings on switching to upgradable dies amounts to approximately USD 1.8 million.”
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Global automotive die-stamping equipment market segmentation
This market research report segments the global automotive die-stamping equipment market by end-users (automotive OE manufacturers and independent stamp presses), and key regions (the Americas, APAC, and EMEA).
Of the two major end-user segments, the automotive OE manufacturers segment accounted for over 50% of the market share in 2017. This segment is expected to maintain its lead over the forecast period.
EMEA was the leading region for the global automotive die-stamping equipment market in 2017, accounting for a market share of 43%. However, by 2022, APAC is expected to witness the fastest growth while the EMEA is expected to witness a significant drop of over 2%.
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