Global Die Casting Market Analysis/Forecast Report
Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) — The ‘Die Casting – Global Market Trajectory & Analytics’ report has been added to from ResearchAndMarkets.com offer.
Global die casting market to reach $100.2 billion by 2026
The global Die Casting Market estimated to be worth US$76.4 billion in 2022 is expected to reach a revised size of US$100.2 billion by 2026, registering a compound annual growth rate (CAGR) of 7 .2% over the analysis period.
China represents the largest regional market for die casting and is expected to reach US$41.3 billion by 2026. Asia-Pacific is expected to become the fastest growing regional market with a CAGR of 8. 3% over the analysis period.
The die casting market is influenced by the steady growth of the global economy and the rapid industrial and manufacturing activity seen in high-growth emerging economies, particularly China and India.
Growing demand for lightweight, energy-efficient components from the automotive and consumer appliance industries, as well as growing investments in the electronics, construction, mining, aerospace and defense sectors present considerable growth opportunities.
Intensified efforts to expand 4G networks and launch 5G networks are driving the demand for die castings in the telecom industry. Sustained technological advancements associated with casting automation will also fuel the die casting market in the coming years. The demand for passenger cars and light commercial vehicles across the world, especially in developing markets, will particularly drive strong demand for the use of molded products for a range of automotive parts and components in the years to come.
The market should also benefit enormously from the move towards aluminum at the expense of steel and iron products among car manufacturers. The demand for passenger cars and light commercial vehicles across the world, especially in developing markets, will particularly drive strong demand for the use of molded products for a range of automotive parts and components in the years to come.
The market should also benefit enormously from the move towards aluminum at the expense of steel and iron products among car manufacturers. Consumer appliances represent another promising market for die castings, with growth supported by advances in scroll compressors in refrigeration and air conditioning.
The rapid pace of industrialization, technical advancements, falling prices of air conditioners and refrigerators, increased accessibility for consumers in developing markets present a huge opportunity for the global die casting market in the long run.
With the gradual maturation of the castings market in developed economies, future growth potential is expected to emerge from high-growth developing economies. The growing use of castings in a range of applications including automotive, mass transit, heavy machinery, and building and construction industries is driving growth in the region.
Additionally, the emergence of numerous manufacturing plants in low-cost Asian economies represent key growth drivers in the region. The ferrous castings market is expected to dominate the market share over the analysis period. The growth of the ferrous metal castings market over the next few years will be mainly driven by the growing demand for ductile iron castings.
The strong preference for lightweight castings, in line with the trend to produce lightweight yet strong and durable end products, will continue to drive the demand for ductile iron castings, which are relatively lighter than gray iron castings. Besides the weight factor, ductile iron castings stand out from gray iron castings in terms of wear resistance, surface hardness and impact resistance.
What’s new for 2022?
- Global competitiveness and percentage market shares of main competitors
- Market presence in multiple geographies – Strong/Active/Niche/Trivial
- Peer-to-peer collaborative online interactive updates
- Access to digital archives
- Free updates for one year
Main topics covered:
1. MARKET OVERVIEW
- Overview of the influencer market
- An introduction to die casting
- Die casting market: critical for the production of manufactured parts and finished products
- Die Casting Volume Market Analysis
- Developing economies continue to spearhead market growth
- An overview of global casting production
- Global Castings Market (2018): Average Production per Plant in Thousand Metric Tons by Selected Leading Countries
- Ferrous metal castings continue to dominate, while non-ferrous metal castings are gradually gaining ground
- Global economic environment and manufacturing industry trends influence die casting market dynamics
- Impact of Covid-19 and a looming global recession
- Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)
2. FOCUS ON CERTAIN PLAYERS(Total 69 featured):
- Arconic, Inc.
- Endurance Technologies Limited
- Form Technologies, Inc.
- GF Casting Solutions SA
- Gibbs Die Casting Corp.
- Hitachi Metals, Ltd.
- Martinrea Honsel Germany GmbH
- Rhythm Industries
- Ryobi Limited
- Sigma Electric Manufacturing Corp.
3. MARKET TRENDS AND DRIVERS
- Die-cast auto parts get a boost amid engineering focus on lightweighting
- Massive engineering interest in lightweighting catalyzes the application of die-cast aluminum in automotive parts
- Rising Electric Vehicle Sales: Another Emerging Growth Catalyst in the Automotive End-Use Sector
- With a myriad of factors driving the outlook for electric vehicles, die casting foundries will see the emergence of new demand opportunities: number of electric vehicles on the road globally by type (in units) for the years 2016, 2018 and 2022
- Competition between steel and aluminum castings intensifies in the automotive industry
- Heavy haul segments add to demand
- Heavy industrial equipment and machinery manufacturing industry promises bright prospects
- Opportunity Indicators
- Sustained demand for consumer devices worldwide: a powerful engine of growth
- Growing Replacement of Wrought Iron and Steel with Aluminum Castings in Military and Defense Applications: A Growth Opportunity
- Rising defense spending bodes well for the die casting market
- Rising Importance of Castings in Power Generation Chain Drives Demand from Power Industry
- Mechanization of agriculture increases demand
- Production of plumbing pipes and fittings: a lucrative market opportunity for castings
- Global plumbing fittings and fixtures market
- Aluminum castings without porosity, high strength and superior finish: a key requirement in medical devices
- Telecommunications equipment: a high-potential end-use application
- Die casting: the most widely used process for turning aluminum into products
- High-pressure die-casting market rides light trend in automotive industry
- Global high pressure die casting market
- Magnesium emerges as a promising alternative to die-cast aluminum
- Comparative analysis of design parameters
- Automation guarantees improved productivity for the die casting industry
- Increasing Automation in Aluminum Die Casting Drives Improved Productivity
- Technological advancements and innovations are driving the growth of the market
- Simulation-based casts continue to gain traction
4. GLOBAL MARKET OUTLOOK
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/8gmebx