NEW YORK, Oct. 19, 2015 /PRNewswire/ -- Finite global resources, optimization of energy consumption and the associated reduction of CO2 emissions have become the priority of every government and it is the automotive industry that is dragged into the spotlight, when the concept of emission reduction is brought up. Companies such as Proto Labs came up with their new Magnesium thixomolding, a type of semi-solid metal casting, which is expected to produce complex net-shape parts with thin walls, light weight and minimal porosity, and is considered safer and more environmentally friendly than magnesium die casting. Automotive industry has witnessed a dramatic growth over the past couple of years. However, it never restricted itself, pertaining to inviting new innovations. At present, the automotive manufacturers are striving to meet the targets for highly tensile chassis frames and strong automotive parts that are long standing, light weight and cost effective.
The Global Automobile Parts Die Casting market registered revenue of $7.45 billion in 2014 and is expected to touch $10.83 billion by 2020 with an estimated CAGR of 6.43% 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.
Automobile industry is highly dependent on the Environmental Protection Agency (EPA) regulations, owing to high emissions by the automotive units. The move by EPA of raising the mile per gallons standards to 35.5 miles per gallon (mpg) by 2016 and then 54.5 mpg by 2025 has helped the die casting industry, as the auto industry concluded the only way they can get to those mileage standards is by producing lightweight 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.
The other factor driving this market is the industry regulations. Regulations imposed by OSHA and initiatives by NADCA to improve the technical workforce in the die casting industry is expected to improve the overall production of the die casting market and in turn, the market for automotive parts die casting. NADCA is working with several community colleges in the U.S to create a "die casting farm system". This aides in the entry of more technically qualified students into the die casting industry and improve the performance of the former as a whole. The end market for die casting is quite prolific and an increase of 17.1 million units by 2015 is expected from 16.3 million units in 2013. The market for magnesium die cast parts in automotive is expected to grow at a higher CAGR of 12.1% over the next 5 years, while that of zinc is expected to grow at a slower pace.
North America is the largest market for Automotive Die Casting globally. This huge market in the region was mainly due to large-scale domestic production, government initiatives 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 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.
This report on Automotive 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 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 from the pack.
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