Metal casting market is projected to grow at a CAGR of 8.87% during the forecast period, to reach a market size of USD 39.94 billion by 2025 from USD 20.23 billion in 2017.
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The key players in the Metal Casting Market include – Nemak (Mexico), Ryobi Limited (Japan), Rheinmetall Automotive (Germany), GF Automotive (Switzerland), Ahresty Corporation (Japan), Dynacast (US), Endurance (India), Mino Industrial (Japan), Aisin Automotive Casting (US), Gibbs Die Casting (US).
The Asia Oceania region is estimated to lead the metal casting market. It is also the fastest growing market from 2017 to 2025.
The market growth in the region can be attributed to higher vehicle production owing to low production cost, increasing presence of established OEMs, increasing sales of premium vehicles as a result of rising disposable income, and increase in demand for lightweight materials.
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Further, some of the key metal cast manufacturers such as Dynacast (US), Ryobi (Japan), Shiloh Industries (US), and Hiroshima Aluminum (Japan) are expanding their presence in this region. For instance, in August 2017, Dynacast opened a new sales office in Aichi-ken, Japan to cater the increased demand for automotive casting parts in the domestic market.
- Automotive casting components manufacturers
- Automotive casting component suppliers, traders, and distributors
- Automotive casting materials manufacturers and suppliers
- Automotive OEMs
- Automotive component manufacturing associations
- Government and regulatory authorities
- Research and consulting associations
Complete Report Copy of Metal Casting Market by Process (Gravity, High & Low Pressure, Sand), Application (Body Assembly, Engine, and Transmission), Material (Iron, Al, Mg, Zn), Component, ICE & EV (Passenger Car, LCV, HCV, BEV, HEV & PHEV), and Region - Global Forecast to 2025 www.rnrmarketresearch.com/contacts/1286550
HPDC is estimated to be the fastest growing segment of the metal casting market during the forecast period. The process offers advantages such as shorter cycle time, excellent finished products, higher dimensional accuracy for larger and complex parts, and best fit for mass production.
According to an industry expert, HPDC is one of the most preferred technologies around the world as it is suitable for several components that include battery housing, clutch casing, crankcases, engine blocks, differential cover housing, engine mount, flywheel housing, front door, and turbocharger housing among others. All the above-mentioned factors are expected to drive the high pressure die casting market in the coming years.
The hybrid electric vehicle is estimated to dominate the metal casting market during the forecast period. The sales of hybrid vehicles directly impact the demand for metal casting components.
hybrid vehicles accounted for 71.8% of the total sales of electric & hybrid vehicles in 2016. Furthermore, owing to the extensive government support in tax exemption, incentives, and discounts, the Asia Oceania region accounted for 67.9% of the total HEV sales in 2016.
With rising HEV sales, the demand for metal casting components such as battery boxes, cross-car beam, and seat frames would also increase, which, in turn, would drive the growth of metal casting market for HEVs.
The primary objective of the study is to define, describe, and forecast the metal casting market by process, IC vehicle type, components, hybrid & electric vehicle type, and region. It analyzes the opportunities offered by various segments of the market to the stakeholders.
It tracks and analyzes competitive developments such as expansions, joint ventures, acquisitions, and other industry activities carried out by key industry participants.
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