The report "Global Automotive Parts Aluminium Die Casting Market": By Type (Pressure, Vacuum, Squeeze, Semi-Solid); By Application (Body Assemblies, Engine Parts, Transmission Parts) & By Geography - Forecast (2018-2024).
Envision Inteligence estimates that Global Automotive Parts Aluminium Die Casting market is projected to reach $82.12 billion by the end of 2024 with a CAGR of 7.34% from $56.57 billion in 2018.
The process used to manufacture the metal parts with high reliability and accuracy by the use of moulds is called die casting and is used in the different automotive companies to manufacture different parts. Aluminium die casting is die casting done by Aluminium metal which is mostly preferred.
The moulds which are prepared by aluminium die casting are having the advantages like aluminium is recyclable and resistant to corrosion.
So the markets related to aluminium die casting are having inclined growth.
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Global automotive parts aluminium die casting market is having the increased growth due to advancements in technology and high efficiency. APAC is having the largest share when the markets related to the aluminium die casting are considered and followed by Europe and North America.
As there is trending growth in the sectors like transportation & construction the durability and ability to bear high temperature are influencing the application of cast aluminium products in the transportation and other sectors. Characteristics such as lightweight and strength of cast aluminium are the major factors driving the demand for aluminium casting.
There are many big firms which are emerging into die casting industry depending on advantages acquired by aluminium material and about to achieve fair pace during the forecast period.
Key players in the market include:
- Chicago White Metal Casting Inc.
- Sipra Engineers Pvt. Ltd.
- Endurance Technologies Private Limited
- Jaya Hind Industries Pvt. Ltd
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