The global Automotive Hydroformed Parts Market Growth Accelerated by Adoption of Lighweight Materials

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Automotive hydroformed parts are lightweight components produced through a non-sheet forming manufacturing process that uses high-pressure fluid such as oil, air or gas to deform metal sheet or tube into a variety of complex cross-sections. These parts have strength properties that are comparable or superior to cast or machined parts. The global automotive industry is witnessing increasing demand for lightweight materials to improve fuel efficiency and reduce vehicular emissions. The automotive hydroformed parts help automobile manufacturers meet stringent standards and regulation around lightweight vehicles.

The global Automotive Hydroformed Parts Market is estimated to be valued at US$ 12.888 Mn 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 key trends:

Adoption of lightweight materials to boost fuel efficiency and reduce emissions is one of the major trends witnessed in the automotive hydroformed parts market. OEMs are increasingly opting for hydroformed components made of advanced high-strength steel and aluminum alloys to reduce vehicle weight and meet stringent emission norms. The lightweight hydroformed parts are up to 30% lighter than traditionally formed components and help improve fuel economy by up to 10%. Their growing uptake is expected to drive the demand for hydroforming technology and parts during the forecast period.

Segment Analysis
The global automotive hydroformed parts market size is dominated by the body and chassis segment. This segment accounts for over 35% of the total market share owing to increased use of hydroforming process in manufacturing complex geometrical shaped body and chassis parts such as B-pillars, rails, and bumpers. Hydroforming helps reduce part count, material waste and overall vehicle weight.

Key Takeaways
The global automotive hydroformed parts market is expected to witness high growth over the forecast period 2023 to 2030. The global Automotive Hydroformed Parts Market is estimated to be valued at US$ 12.888 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.

Asia Pacific dominating the global automotive hydroformed parts market with over 40% market share. Growing passenger vehicle production in China, India and Southeast Asian countries is fueling market growth. Europe holds the second largest share led by vehicle manufacturing hub Germany. Stringent regulations regarding vehicle weight reduction and fuel efficiency are anticipated to support market expansion.

Key players operating in the automotive hydroformed parts market are Alf Engineering, F-TECH, Magna International, Metalsa, Nissin Kogyo, Sango Co., Ltd., Tata Precision Tubes, Tenneco, Thyssenkrupp AG, Vari-Form, and Yorozu. Magna International and Metalsa are dominating players owing to their strength in body structure manufacturing using hydroforming technology. Smaller players are focusing on expanding in new regions to gain higher shares. Collaborations with OEMs are expected to help players boost sales of hydroformed automotive components.

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