The automotive hydroforming process involves utilizing pressurized liquid to shape sheet metal into complex geometries that would otherwise be impossible or impractical to produce through conventional manufacturing methods. Hydroforming permits the economical mass production of robust automotive structural components with optimized designs for rigidity, safety, and weight reduction. Commonly hydroformed auto parts include pillars, rocker panels, B-pillars, rails, cross-members, and various body reinforcements. The superior strength and precise shaping enabled through hydroforming allows engineers to design vehicles that are lighter, safer and more fuel efficient compared to traditional stamping and welding techniques.
The Global Automotive Hydroformed Parts Market is estimated to be valued at US$ 14.85 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Automotive Hydroformed Parts 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. The major players are focusing on adopting strategies such as product innovations, mergers, and acquisitions to expand their geographic presence and gaining a competitive advantage in the market.
The increasing demand for lightweight yet durable automobile structural components is driving the growth of the automotive hydroforming parts market. Hydroforming allows manufacturers to produce intricate parts that are lighter and more energy efficient compared to traditional manufacturing techniques.
The global automotive hydroforming parts market is expanding rapidly across developing regions owing to rising automobile production and ownership in countries such as China, India, Brazil, and Mexico. Establishment of local manufacturing facilities by leading players is helping to bridge the gap between demand and supply in emerging markets.
Market key trends
One of the major trends in The Automotive Hydroforming Parts Market is the development of new aluminum alloys specifically designed for the hydroforming process. Aluminum alloy sheets offer weight savings of upto 50% compared to steel and are gaining popularity for use in Load-bearing structural and crash-impact components. Companies are innovating advanced aluminum alloys with precise compositions for optimum formability and strength when hydroformed.
Porter’s Analysis
Threat of new entrants: The high capital requirements and economies of scale in production act as barriers for new companies entering the market.
Bargaining power of buyers: Large automakers have more bargaining power compared to small parts manufacturers due to the fragmented nature of suppliers.
Bargaining power of suppliers: Established suppliers in the industry have established relationships with automakers reducing substitutability.
Threat of new substitutes: Substitute materials can be used for specific non-structural components, but there are no cost-effective substitutes for structural vehicle components.
Competitive rivalry: Intense competition exists between established suppliers globally to produce light-weight yet strong components.
Geographical Regions
North America dominates the global market currently, accounting for over 30% of the total market share in 2024, valued at US$ 4.5 Bn. Stringent vehicular safety and emissions regulations have increased demand for advanced lightweight components in the region.
Asia Pacific is expected to be the fastest growing regional market, expanding at a CAGR of 9.2% during the forecast period. Presence of emerging economies like China and India experiencing strong automotive production growth coupled with rising disposable income levels are driving the demand.
