NEW YORK, Jan. 27, 2022 /PRNewswire/ -- The dies and molds market in India will observe strong growth between 2020 and 2025 with the rise in local manufacturing activities. In addition, the growing production and sales of automobiles is increasing the demand for various components. This, in turn, is increasing the demand for dies and molds in India.
Other factors that are supporting the growth of the market are the availability of low-cost labor, skilled manpower, and low-cost steel production. Besides, the growing middle-class population and increasing disposable incomes of people are attracting many players to expand their operations in the country, which is positively influencing the growth of the market in focus.
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Key Dies and Molds Market Report Highlights:
Dies and Molds Market in India: Segmentation Analysis
The automotive industry is the largest consumer of dies and molds. The industry has been observing significant growth in India over the past few years due to factors such as the presence of a younger population, low-cost skilled manpower, and advances in automotive technologies. The country is also one of the important markets for the biggest automobile manufacturers such as Suzuki and Honda, both in terms of two-wheelers and four-wheelers. All these factors are fueling the growth of the market in the automotive segment.
Similarly, by application, the casting segment generated maximum revenue in the market in 2021. The growth of the segment can be attributed to increasing manufacturing and construction activities in India. The market growth in the segment will be significant during the forecast period.
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Dies and Molds Market in India: Vendor Landscape
Alfa Plast Mould, Classic Die Tools, DIETECH INDIA (P) Ltd., Godrej & Boyce Manufacturing Co. Ltd., Greatoo Intelligent Equipment Inc., Hindustan Die Castings, JPM Group, LÄPPLE AG, NAGATA AUTO PARTS Co. Ltd., and Sankalp Engineering & Services Pvt. Ltd. are some of the dominant players in the dies and molds market. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market.
The dies and molds market in India is fragmented due to the presence of a large number of vendors. The influx of international payers that offer high-quality products has increased the competition in the market. Hence, regional players are focusing on increasing their foothold in the market by offering products at comparatively lower-costs than international players. Some vendors are incorporating CAD/CAM software as well as automation technologies to gain a competitive advantage. Vendors are also adopting inorganic growth strategies such as mergers and acquisitions to remain competitive in the market.
Alfa Plast Mould: The company offers a wide range of professional plastic molds including precision plastic Injection mold, plastic Blow mold with D flashing unit, compression molds, plastic hot runner system mold, fully automatic injection molds, transfer molds, plastic injection molded components.
Classic Die Tools: The company offers molds with high-quality raw materials, high-quality other standard parts, and ultra-modern technology in compliance with set industry norms.
DIETECH INDIA (P) Ltd.: The company offers low pressure die casting (LPDC), gravity die casting (GDC), and over 3600 high pressure die casting (HPDC) for aluminum components for all major OEM and Tier I customers.
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Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the dies and molds market in India.
Metal injection molding is widely used in various metalworking applications. The technique can be used to lightweight complex-shaped parts that find extensive applications across industries such as automotive, aerospace, and defense. With the growth of these industries, the demand for metal injection molding is expected to increase during the forecast period, thereby driving the market growth.
To know about a few other market drivers, trends, and challenges,
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Dies And Molds Market In India Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9% |
Market growth 2021-2025 |
USD 1.47 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.89 |
Regional analysis |
India |
Performing market contribution |
India at 100% |
Key consumer countries |
Afghanistan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alfa Plast Mould, Classic Die Tools, DIETECH INDIA (P) Ltd., Godrej & Boyce Manufacturing Co. Ltd., Greatoo Intelligent Equipment Inc., Hindustan Die Castings, JPM Group, LÄPPLE AG, NAGATA AUTO PARTS Co. Ltd., and Sankalp Engineering & Services Pvt. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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