India Automotive Stamping: Automotive Stamping in India Evolving with Changing Dynamics
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from the Business category at
30 Aug 2024 09:25:30 am.
The automotive stamping industry in India has witnessed significant growth over the past decade, in line with the rising demand for passenger and commercial vehicles across the country. Stamped auto-components such as doors, hoods, external body parts, and underbody parts are a crucial part of automobile manufacturing. The growing domestic demand as well as export potential has pushed automakers to ramp up their local production and source more parts locally. This has greatly benefitted the Indian stamping industry which is not only meeting higher local needs but also exporting stamped parts globally.Expanding Capacities of India Automotive StampingMajor automotive stamping manufacturers have undertaken large capacity expansion programs to cater to both existing automaker clients as well as new global clients. For instance, Bharat Forge's Kalyani Pawas plant near Pune with an annual capacity of over 450,000 MT is one of the largest integrated metal forming facilities in the world. It produces a wide variety of stamped components supplied to almost all leading vehicle manufacturer.Rise of Electric Vehicles Bringing New OpportunitiesThe rising popularity of hybrid and electric vehicles worldwide is opening new avenues of growth for India Automotive Stamping. While EVs have less moving internal parts compared to conventional vehicles, they still require a complete set of stamped external body parts and underbody frames and panels. Leading EV manufacturers are actively sourcing such components from Indian suppliers due to their cost competitiveness as well as proximity to growing South Asian EV markets. This has prompted stamping experts likeSchuler India andAutomotive Axles to develop new press lines and manufacturing technologies tailored for EV components. Automakers are also partnering with specialists to produce battery enclosures, motor housing, and other critical e-mobility parts locally using advanced stamping-joining techniques.Localized Sourcing Emerging as Key TrendWith relaxed FDI norms and govt schemes like PLI, Indian auto industry witnessed significant investments from global automakers in past few years leading to expansion of their local manufacturing operations. This includes several new vehicle assembly plants as well as engine & transmission facilities coming up across major auto hubs. Naturally, automakers are now insisting on sourcing more auto components locally in line with the 'Make in India' vision. Stamped parts constitute a key category where OEMs want enhanced localized sourcing level considering the large volumes, weight & bulk. Leading stampers are capitalizing on this key trend by partnering with global Tier I firms to establish joint stamping units in India and directly supply major car makers. This is helping in reducing import dependency as well as reducing logistics cost of transporting heavy press parts from overseas.Focus on Lean Manufacturing and High Precision StampingWith growing competitiveness, Indian stampers are putting more emphasis on adopting advanced lean manufacturing practices to optimize plant efficiency and productivity. Use of tool pre-setting robots, automated guided vehicles, centralized greasing systems etc. help in reducing changeover times and wastages. Simultaneously, capabilities are being enhanced for producing highly complex stampings requiring close dimensional tolerances, multi-stage forming, and specialized surface treatments. State-of-art hydraulic & mechanical press lines along with robotic welding deliver components within micrometer-level precision for stringent OEM quality norms. High tech stamping solutions are also reducing assembly times at vehicle plants through greater part consolidation and value addition during pre-processing. These measures are improving the cost-quality proposition for global sourcing from India. Growth Outlook and Potential ChallengesThe automotive stamping sector in India holds immense potential for further capacity expansion and technology upgrades driven by EV adoption, global supply chain shifts, and rising vehicle localization content levels. Market growth forecast estimates peg the domestic stamping industry revenues to touch $15-18 billion by 2030. However, factors like rising steel input costs, scarcity of skilled manpower, and delays in infrastructure projects remain as challenges.Timely policy interventions are needed in areas like facilitating availability of developed industrial land and common facilities; promotion of research & development; funding for greenfield stamping clusters; and incentives for e-mobility component manufacturing to sustain long term competitiveness. With continued focus on advanced manufacturing and emerging technologies, the Indian automotive stamping industry seems poised for an era of sustainable growth.Get more insights on: - India Automotive StampingGet More Insights — Access the Report in the Language that Resonates with You:-About Author:Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)
