Metal Casting Market to Grow at 8.87% CAGR to 2025 | ReportsnReports
PUNE, India, January 9, 2018 /PRNewswire/ --
Metal Casting Market is forecast to reach $39.94 billion by 2025 from $20.23 billion in 2017 at a CAGR of 8.87% during (2017-2025) driven by increase in vehicle light-weighting trend as a result of growing stringency in emission & fuel efficiency standards, and benefits offered by casting such as higher precision, accuracy, and excellent surface finish, increasing vehicle production and lack of alternative manufacturing processes.
Browse 120 Market Data Tables and 48 Figures spread through 172 Pages and in-depth TOC on "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" http://www.reportsnreports.com/reports/1274408-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-st-to-2025.html .
The metal casting market is dominated by a few global players that include Nemak (Mexico), Ryobi Limited (Japan), Rheinmetall Automotive (Germany), GF Automotive (Switzerland), Ahresty Corporation (Japan), Dynacast (US), Endurance (India), and Mino Industrial (Japan).
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. 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.
Inquire for DISCOUNT on "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" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=1274408 .
High Pressure Die Casting (HPDC) is projected to grow at the highest rate in the metal casting market over the period of next eight years. 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. The 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 premium vehicle sales in Asia Oceania has increased from 11,379.9 thousand units in 2012 to 12,938.2 thousand units in 2016, at a CAGR of 3.26%. According to China Association of Automobile Manufacturers (CAAM), the demand for low segment cars has shown a downfall in China, and hence, automotive OEMs are shifting their production focus towards mid and premium end vehicles. Thus, all the above-mentioned factors will prompt the OEMs to utilize an increasing amount of aluminum and magnesium casting components that would increase the power and performance of the vehicle.
Order a 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" research report at http://www.reportsnreports.com/purchase.aspx?name=1274408 .
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.
The study contains insights provided by various industry experts, ranging from component manufacturers, materials suppliers, and OEMs. The break-up of the primaries is as follows:
- By Company Type: Component Manufacturers - 52%, Material Suppliers - 26%, and OEMs - 22%
- By Designation: C-level - 55%, D-Level - 38%, and Others - 7%
- By Region: North America - 42%, Europe - 37%, and Asia Oceania - 21%
Another research titled Aluminum Casting Market Global Forecast to 2022 says, the aluminum casting market is projected to grow at a CAGR of 7.33% from 2017 to reach $79.13 billion by 2022. The transportation segment is estimated to dominate the aluminum casting market through 2022. The Asia-Pacific aluminum casting market constituted the largest market share and is projected to register the highest growth rate during the forecast period. Companies such as Alcoa Corporation (U.S.), Ryobi Limited (Japan), Aluminum Corporation of China (China), Nemak S.A.B. de C.V. (Mexico), Rio Tinto (U.K.), United Company Rusal (Russia), China Hongqiao Group Limited (China), Arconic Inc. (U.S.), Gibbs Die Casting Corp (U.S.), Dynacast Charlotte (U.S.) have been profiled in this 169 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1012834 .
Explore more reports on Automotive Market at http://www.reportsnreports.com/market-research/automotive/ .
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