Automotive Hydroformed Parts Market

Automotive body panels segment is the largest segment driving the growth of Automotive Hydroformed Parts market


The global Automotive Hydroformed Parts Market is estimated to be valued at US$ 12.888 Mn or billion in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Automotive hydroformed parts are complex shaped metal components produced by a manufacturing process called hydraulic forming. This manufacturing process uses precision tooling and high pressure fluid forming of sheet metal to create complex cross-sectional geometries that are lighter and stronger compared to steel stampings. The advantages of hydroforming parts include enhanced structural strength, reduced weight, complex geometries, consistent quality, and lower assembly costs.

Market key trends:
One of the key trends in the automotive hydroformed parts market is the rising adoption in the production of automotive body panels. Body panels manufactured using hydroforming process are up to 30% lighter than traditionally stamped steel panels, thereby improving fuel efficiency. The weight savings achieved through hydroforming allows automakers to meet the stringent Corporate Average Fuel Economy (CAFE) standards. The process also helps in reducing assembly time and costs by integrating multiple parts into a single hydroformed component with complex geometries.
Market key trends:
There is a growing demand for lightweight and cost-effective automotive components to improve fuel-efficiency of vehicles. Hydroforming enables the production of advanced lightweight complex shapes from tubular blanks using pressurized fluids. This aids in reducing vehicle weight and enhancing performance. Many automotive manufacturers are adopting hydroformed parts to meet the stringent emission norms. For instance, hydroformed components are increasingly being used for A-pillars, B-pillars, bumpers, knuckles, control arms, and other structural applications.

SWOT Analysis
Strengths: Hydroforming allows the manufacture of complex automotive parts with seamless joints and increased strength to weight ratio. It provides advantages over stamping and welding by reducing production steps.
Weaknesses: High initial costs are involved for setting up hydroforming equipment. Variations in raw material properties can affect forming process.
Opportunities: Growing demand for electric and hybrid vehicles provides opportunities for application of hydroformed lightweight parts to enhance vehicle range. Many OEMs are focusing on local sourcing of auto components to reduce import dependence.
Threats: Volatility in raw material prices can increase part costs. Shift towards 3D printing of vehicle parts poses a threat to substituted metal forming processes.

Key Takeaways
The global Automotive Hydroformed Parts Market Growth  is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing environmental regulations mandating lower vehicle emissions and fuel efficiency standards.

The Asia Pacific region dominates the global market and is expected to grow at the fastest rate during the forecast period. Presence of major automotive hubs such as China, India, and Japan is a key factor driving the regional market. China represents the largest producer and consumer of automobiles globally.

Key players operating in the Automotive Hydroformed Parts are Alf Engineering, F-TECH, Magna International, Metalsa, Nissin Kogyo, Sango Co., Ltd., Tata Precision Tubes, Tenneco, Thyssenkrupp AG, Vari-Form, and Yorozu. Forming strategic partnerships and collaborations with OEMs is a major strategy adopted by these companies to gain higher market share.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it