Asia Pacific Automotive Parts Die Casting Market - Growth, Trends, Forecast (2015-2020)
LONDON, Oct. 20, 2015 /PRNewswire/ -- With demand for lightweight automobiles and energy saving trends on the rise, the automotive parts die casting market grew substantially in the Asia Pacific region. Cheaper labor and low manufacturing costs in India and China further propelled the growth of the market in these countries. Over the past 2 decades, small privately run factories in this region have become much competitive and professional in producing die cast automobile parts. However, the market in Asia Pacific for automobile and related products was subjected to imperfect competition and resulted in huge capacity, large number of competitors and high redundancy and overlap.
Thailand is emerging as a major automobile exporting country, driven by Japanese FDI. Chinese automobile sector is growing very fast and is poised to make its impact in the international trade arena. India is consolidating its position with strong domestic and external demand for high quality parts at lower prices. All these factors together are driving the market for automotive die casting parts market in Asia pacific region.
The Asia Pacific market for automobile parts die-casting is registered revenue $1.93 billion in 2014 and is expected to touch $2.96 billion by 2020, with an estimated CAGR of 7.36% over the forecasted period. Increased automation in the die casting industry spiked the productivity and a parallel demand for the former from the automotive industry is dragging the attention of automotive manufacturers towards highly durable die casting parts.
Dynacast, Sunbeam Auto Pvt. Ltd., Caparo Aluminum India, Ryobi Group, HICOM die castings are some of the key players in the market. The market is segmented based on the production process type, by raw material type, by application type and by geography type. In a nutshell, automobile makers are now focusing on collaborating with the part die casting manufacturers in order to produce fuel-efficient and lightweight automobiles.
Report offers the following:
This report on Asia Pacific automotive parts die casting market, analyzes the current market trends of die casting industry of India, China, Japan, Korea and Australia markets in details.
This report offers the technical aspects and economic data of the market and its forecast to the next 5 years (2015-2020).
It also discusses the latest technologies in the Asia Pacific automotive die casting materials and parts that are under development and in research pipeline.
This report provides the list of major players in the regional market and gives an in depth analyst perspective of what makes the products and strategies of these players stand out and how these players are planning to expand their reign in the region.
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