LONDON, Oct. 28, 2015 /PRNewswire/ -- Recovery of automotive manufacturing is driving the market for magnesium die casting in India. India's democratic government is permanent and the pledge of liberal economic policy of all the governments acts as a major growth factor for the aluminum die casting industry in the country. This is further aided by skilled, cheaper labor force and the government incentives for small and medium scale industries. As of today, India boasts of over 400 die casting companies, making it one of the major supplier of die cast parts in the global market. Of these, over 25 units produce around 12,000 tons of die cast parts per year.
The India market for automobile parts magnesium die-casting is expected to grow to at a higher CAGR over the forecasted period. Growing small-medium scale die casters in India and subsequently, India emerging as automobile component manufacture hub for the western automakers is driving the former market in this country. Further, lightweight, superior machining, greater die life, large thin-walled near net shape casting, greater mechanical properties and greater general corrosion resistance over aluminium is making the automakers prefer the former. Even the regional die casters for magnesium automotive parts are slowly increasing with the demand from automotive industry.
Magic Precision Inc., Meridian Lightweight Technologies, MK Group of Companies, Morimura Bros Inc., Ryobi Die Casting Inc., Gibbs Die Casting Group and Georg Fischer Limited 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.
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This report on India Automotive parts Magnesiumdie casting market, analyzes the current market trends in India, 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 Indiaautomotive magnesiumdie castingalloys 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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