The precision metal stamping industry has seen a constant evolution since its inception more than 230 years ago, with enhanced equipment and modernized techniques still holding true to the procedure’s commitment to perfection.
Pioneers in the expansion of metal stamping services are constantly investing in research and development measures within the industry to further develop automation and streamline processes.
Here are some insights into the precision metal stamping market in recent and upcoming years:
The Precision Metal Stamping Industry in Recent Years
Even with the cost of metal prices rising, precision metal stampings is still the most economical for businesses. With increased demand, the competition in the industry has accelerated rapidly— especially since metal parts are heavily used in almost every manufacturing business.
The Rapid Expansion of the Industry
In 2020, the metal stamping market was a $187.3 Billion industry, and although COVID-19 could play an unpredictable role in the growth, experts predict that the market could expand at a compound annual growth rate of 5% from 2021-2026.
The rapid acceleration is driven largely by the automotive industry and consumer electronics, with technological advancements pushing increased metal production to meet the demand for new and existing parts.
The Future of Precision Metal Stamping
Because so many industries rely heavily on precision metal stamping services, the market is not expected to slow down, despite concerns about COVID-19’s impact.
Since custom metal stamping services are cost-effective, economical, and provide enhanced durability over other methods, more and more companies are expected to adopt this method to improve the quality of their products.
There’s no telling exactly what the future of precision metal stamping holds, but for now, it’s looking bright.
An Unbeatable Resource Under One Roof
Prototype & Short-Run Services, Inc. & American Wire EDM lives under the same roof to operate as one of the most efficient metal stamping companies in California. Our 20,000 square foot facility is equipped with state-of-the-art machines operated by highly skilled technicians.
We serve the aerospace, medical, military, electronics, commercial industries and so many more. For custom metal stampings, prototype parts or any other needs, don’t hesitate to reach out.
Request a quote.