LONDON, Oct. 21, 2015 /PRNewswire/ -- Transportation alone accounts to over 25% of the aluminum end market share. With CAFÉ standards becoming increasingly stringent, automobile manufacturers have been forced to continually seek for better ways to increase the fuel economy. Reducing the vehicle weight has been the prime agenda to improve the gas mileage, and the most popular scope for doing has been replacing steel parts with aluminum. According to a recent study, aluminum is now regarded as the leading material used in the manufacture of engine and wheels in automobiles. Audi has been manufacturing an all-aluminum structure for its A8 model for nearly 20 years. Ford is developing an all-aluminum structure for its F-150 pickup. Along with the chassis, employing aluminum die-casting parts has also been the latest trend and it was observed that cutting down the weight of the vehicle by 15% could enhance the fuel economy by 25%.
The global market for automobile parts aluminum die casting, registered revenue $5.08 billion in 2015 and is expected to touch $6.64 billion by 2020 with an estimated CAGR of 5.52% 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 aluminum die casting parts.
Automobile industry is highly dependent on the environmental protection agency regulations, owing to the high emissions by the automotive units. The move by EPA of raising the mile per gallons standards to 35.5 miles per gallon by 2016 and then 54.5 mpg by 2025 actually helped the die casting industry as the auto industry concluded the only way they can get to those mileage standards is by light weighting the vehicles. Aluminum, and specifically aluminum die castings, in many of the power train and engine areas, are the only way they've concluded they could achieve this. This is one of the major reasons for the predicted growth of the industry in the area of structural die-castings too. Further, aluminum is becoming increasingly popular material for this purpose due to its ability to be easily recycled. Approximately 75% of aluminum consumed can be reused, and reclaimed aluminum can be recycled indefinitely, making it's the most popular material for automotive part die-casting.
North America is the largest market for automotive aluminum die casting globally. This huge market in the region was mainly due to large-scale domestic production, government initiative and availability of resources. Rockman Industries, Castwel Auto parts Pvt. Ltd., Endurance Group, Dynacast, Sandhar technologies limited, Gibbs die casting group and Die casting solution GmbH are some of the key players in the market. The market is segmented based on the production process 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 automotive aluminum parts die casting market, analyzes the current market trends on a global and region scale in detail.
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 automotive aluminum die casting materials and parts that are under development and in research pipeline.
This report provides the list of major players in the market and gives an in depth analyst perspective of what makes the products and strategies of these players stand out.
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