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The global metalforming market for automotive, projected to grow at a compound annual growth rate (CAGR) of 2.83 percent from 2018 to 2025, when it’s expected to reach go from $221 billion to $269 billion, owes its growth to growing consumer demand and increasing vehicle production and growing demand for commercial vehicles. This, according to a study by Dublin, Ireland-based Research and Markets.

The study projects hydroforming, generally used to manufacture hollow tube structures such as manifolds and exhaust cones, as the fastest growth by forming technique segment. Meanwhile, cold forming, estimated to be the largest market by forming type, is projected to maintain its position in the forecast period.