The automotive hydroformed parts market involves
manufacturing structural vehicle parts utilizing a metal forming process known
as hydroforming. Hydroforming uses a liquid under high pressure to form metal
into desired shapes. Hydroformed parts provide enhanced strength, rigidity,
assembly accuracy and crash resistance compared to traditional stamping and
welding processes. Such advantages are fueling the adoption of hydroformed
parts across various vehicle components including bumpers, control arms, side
rails, cross-car beams, bumper beams and A-pillars. The process allows
fabricating complex parts from a single sheet of metal, eliminating the need
for multiple welded components. This results in reduced manufacturing costs,
weight savings and improved corrosion resistance of the vehicle structure.
The global automotive hydroformed parts
market is estimated to be valued at US$ 14.85 billion in 2024 and is expected
to exhibit a CAGR of 7.7% over the forecast period of 2024 to 2030.
Strict emission norms worldwide along with rising preference
for fuel-efficient vehicles are compelling automakers to focus on
lightweighting. As hydroforming helps incorporate complex geometries and
achieves significant weight savings compared to other forming techniques,
demand for hydroformed structural parts is surging across passenger and
commercial vehicle segments. Growing electric vehicle adoption is another
factor favoring market growth as EV manufacturers considerably rely on
hydroforming to slash battery pack weight.
Key Takeaways
Key players operating in The
Automotive Hydroformed Parts Market are EVERLIGHT ELECTRONICS CO. LTD.,
First Edmund Optics Inc., Harting Technology, KYOTO SEMICONDUCTOR Co., Ltd.,
OSRAM International GmbH., ROHM CO., LTD., Sensors AG, Thorlabs, Inc., TT
Electronics, and Vishay Intertechnology, Inc. These players are focusing on new
product development and making heavy investments in R&D to consolidate
their market presence.
The global automotive hydroformed parts market is anticipated to witness
notable opportunities driven by increasing production of light commercial
vehicles and heavy trucks. Hydroforming allows fabricating large integrated
assemblies in trucks and buses, providing significant weight savings. Original
equipment manufacturers are increasingly collaborating with hydroforming
specialists to develop customized solutions.
European and North American automakers are aggressively investing in expanding
their hydroforming capabilities in Asia and other high-growth markets. This
will help them reduce logistics costs and address the growing demand from
emerging nations more efficiently. Localization initiatives by major auto
component makers through joint ventures or acquisitions will further accelerate
technology transfer.
Market Drivers
Stringent emission regulations and fuel efficiency norms for passenger and
commercial vehicles have compelled automakers to substantially reduce vehicle
curb weight. Hydroforming allows fabricating complex integrated assemblies from
thinner gauge metals, eliminating the need for multiple components. This
results in considerable weight savings of 10-30% compared to traditional
forming processes such as stamping.
Market Restrain
High setup and material costs associated with hydroforming pose initial
challenges, especially for low-volume production. Specific die and
high-pressure system requirements also demand significant capital investment.
However, the costs are recovered relatively quickly due to reduced part counts,
waste elimination and overall weight optimization achieved through
hydroforming.
Segment
Analysis
The automotive hydroformed parts market is dominated by the passenger vehicles
sub segment. Passenger vehicles account for over 60% of the total automotive
hydroformed parts market share as hydroformed components are extensively used
in the body structure of passenger cars to reduce weight and enhance strength.
The use of lightweight yet high strength hydroformed aluminum components in
modern passenger vehicles helps automakers comply with the stringent fuel
efficiency and emission norms. The increasing adoption of advanced high
strength steels and aluminum alloys for vehicle body construction favors the
growth of the passenger vehicles sub segment of the automotive hydroformed
parts market.
Global Analysis
The Asia Pacific region dominates the global automotive hydroformed parts
market with over 40% share, followed by Europe and North America. China, India,
and Japan are the major countries fuelling demand in Asia Pacific. The growth
of the automotive components industry in Asia Pacific supported by rising
vehicle production and sales along with government initiatives promoting the
use of light weight materials for fuel efficiency is propelling the automotive
hydroformed parts market in the region. Government regulations regarding
vehicle emissions and fuel efficiency are also driving automakers in Europe to
increasingly utilize hydroformed aluminum components resulting in strong market
growth.
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Hydroformed Parts Market
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