Iron castings market: APAC is estimated to contribute 68% to the growth of the global market during the forecast period - Technavio

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Dec 19, 2022, 08:30 ET

NEW YORK, Dec. 19, 2022 /PRNewswire/ -- The iron castings market size is forecast to grow by 23,204.12 thousand tons at a CAGR of 5.15% between 2022 and 2027. APAC is forecast to contribute 68% to the growth of the global iron castings market during the forecast period. The market in the region is estimated to grow at the fastest pace during the forecast period. The increase in manufacturing activities in emerging markets and the growth in the automotive sector will facilitate the iron castings market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled Global Iron Castings Market 2023-2027

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Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Buy the Report

Iron castings market: Segmentation Analysis

Technavio has segmented the iron castings market end-user (automobile, industrial machinery, infrastructure and construction machines, power, and others), product (gray iron, duct iron, and malleable iron), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The report provides actionable insights and estimates the contribution of all segments to the growth of the global iron castings market.

The automobile segment held the largest share of the market in 2022. The segment is driven by the growth of the passenger car market globally. In addition, the modernization and development of assembly line equipment and machinery in the automotive plants are fueling the growth of the segment.

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Key factor driving market growth

The growth in the automobile segment is one of the factors driving the iron castings market growth.
Most of the automobile components such as engine parts, gears and bushings, suspension, brakes, steering, and crankshaft are made of cast iron.
Manufacturers of heavy commercial vehicles and tractors are shifting toward the development of engines that generate more horsepower. This is increasing the use of cast iron products such as cylinder blocks and cylinder heads.
Factors such as increased employment, growth in per capita income, and easy credit facilities have improved the purchasing power of consumers, which is increasing the adoption of passenger cars.
As a result of these factors, the global iron castings market size will increase over the forecast period.

Leading trends influencing the market

The modernization of the foundry industry is one of the key iron castings market trends fueling the market growth. Manufacturers across regions are increasingly adopting stringent quality standards and environmentally-friendly techniques to reduce harmful emissions. They are exhibiting an increased preference for automated molding methods for melting, mechanized diametric molding for sand molding, and continuous casting for chemical sand binding. Manufacturers are also adopting cold casting processes to reduce waste production and reduce the use of raw materials. Moreover, the lightweight property of cold-cast products makes them easier to handle and ship, thereby reducing energy costs. Such modernization activities by foundry operators are expected to positively influence the growth of the market during the forecast period.

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What are the key data covered in this iron castings market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the iron castings market between 2023 and 2027
Precise estimation of the size of the iron castings market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the iron castings market industry across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of iron castings market vendors

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Iron Castings Market Scope
Report Coverage	Details
Page number	173
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.15%
Market growth 2023-2027	23204.12 thousand tons
Market structure	Fragmented
YoY growth 2022-2023 (%)	5.55
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 68%
Key countries	US, China, India, Japan, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Benton Foundry Inc., BMF GROUP, chamberlin Plc, Dandong Fuding Engineering Machinery Co. Ltd., Decatur Foundry Inc., Deeco Metals, Endurance Technologies Ltd., Hitachi Metals Ltd., Krakatau Posco, MAGMA Giessereitechnologie GmbH, NINGBO INNOVAW MECHANICAL CO., LTD, OSCO Industries Inc., Plymouth Foundry Inc., Qingdao Tian Hua Yi He Foundry Factory, Reliance Foundry Co. Ltd., Shibaura Machine CO., LTD, Sumitomo Electric Industries Ltd., thyssenkrupp AG, Waupaca Foundry Inc., and Willman Industries Inc
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and 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.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand t)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand t)
Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global iron castings market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global iron castings market 2017 - 2021 (thousand t)

4.2 Geography Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 (thousand t)

4.3 End-user Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 (thousand t)

4.4 Product Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Product Segment 2017 - 2021 (thousand t)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand t)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

6.1 Market segments

Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

6.2 Comparison by End-user

Exhibit 32: Chart on Comparison by End-user
Exhibit 33: Data Table on Comparison by End-user

6.3 Automobile - Market size and forecast 2022-2027

Exhibit 34: Chart on Automobile - Market size and forecast 2022-2027 (thousand t)
Exhibit 35: Data Table on Automobile - Market size and forecast 2022-2027 (thousand t)
Exhibit 36: Chart on Automobile - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Automobile - Year-over-year growth 2022-2027 (%)

6.4 Industrial machinery - Market size and forecast 2022-2027

Exhibit 38: Chart on Industrial machinery - Market size and forecast 2022-2027 (thousand t)
Exhibit 39: Data Table on Industrial machinery - Market size and forecast 2022-2027 (thousand t)
Exhibit 40: Chart on Industrial machinery - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Industrial machinery - Year-over-year growth 2022-2027 (%)

6.5 Infrastructure and construction machines - Market size and forecast 2022-2027

Exhibit 42: Chart on Infrastructure and construction machines - Market size and forecast 2022-2027 (thousand t)
Exhibit 43: Data Table on Infrastructure and construction machines - Market size and forecast 2022-2027 (thousand t)
Exhibit 44: Chart on Infrastructure and construction machines - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Infrastructure and construction machines - Year-over-year growth 2022-2027 (%)

6.6 Power - Market size and forecast 2022-2027

Exhibit 46: Chart on Power - Market size and forecast 2022-2027 (thousand t)
Exhibit 47: Data Table on Power - Market size and forecast 2022-2027 (thousand t)
Exhibit 48: Chart on Power - Year-over-year growth 2022-2027 (%)
Exhibit 49: Data Table on Power - Year-over-year growth 2022-2027 (%)

6.7 Others - Market size and forecast 2022-2027

Exhibit 50: Chart on Others - Market size and forecast 2022-2027 (thousand t)
Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 (thousand t)
Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

6.8 Market opportunity by End-user

Exhibit 54: Market opportunity by End-user (thousand t)

7 Market Segmentation by Product

7.1 Market segments

Exhibit 55: Chart on Product - Market share 2022-2027 (%)
Exhibit 56: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product

Exhibit 57: Chart on Comparison by Product
Exhibit 58: Data Table on Comparison by Product

7.3 Gray iron - Market size and forecast 2022-2027

Exhibit 59: Chart on Gray iron - Market size and forecast 2022-2027 (thousand t)
Exhibit 60: Data Table on Gray iron - Market size and forecast 2022-2027 (thousand t)
Exhibit 61: Chart on Gray iron - Year-over-year growth 2022-2027 (%)
Exhibit 62: Data Table on Gray iron - Year-over-year growth 2022-2027 (%)

7.4 Duct iron - Market size and forecast 2022-2027

Exhibit 63: Chart on Duct iron - Market size and forecast 2022-2027 (thousand t)
Exhibit 64: Data Table on Duct iron - Market size and forecast 2022-2027 (thousand t)
Exhibit 65: Chart on Duct iron - Year-over-year growth 2022-2027 (%)
Exhibit 66: Data Table on Duct iron - Year-over-year growth 2022-2027 (%)

7.5 Malleable iron - Market size and forecast 2022-2027

Exhibit 67: Chart on Malleable iron - Market size and forecast 2022-2027 (thousand t)
Exhibit 68: Data Table on Malleable iron - Market size and forecast 2022-2027 (thousand t)
Exhibit 69: Chart on Malleable iron - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on Malleable iron - Year-over-year growth 2022-2027 (%)

7.6 Market opportunity by Product

Exhibit 71: Market opportunity by Product (thousand t)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 73: Chart on Market share by geography 2022-2027 (%)
Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 75: Chart on Geographic comparison
Exhibit 76: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 (thousand t)
Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 (thousand t)
Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 (thousand t)
Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 (thousand t)
Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 North America - Market size and forecast 2022-2027

Exhibit 85: Chart on North America - Market size and forecast 2022-2027 (thousand t)
Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 (thousand t)
Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 89: Chart on South America - Market size and forecast 2022-2027 (thousand t)
Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 (thousand t)
Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand t)
Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand t)
Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 China - Market size and forecast 2022-2027

Exhibit 97: Chart on China - Market size and forecast 2022-2027 (thousand t)
Exhibit 98: Data Table on China - Market size and forecast 2022-2027 (thousand t)
Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

9.9 India - Market size and forecast 2022-2027

Exhibit 101: Chart on India - Market size and forecast 2022-2027 (thousand t)
Exhibit 102: Data Table on India - Market size and forecast 2022-2027 (thousand t)
Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)

9.10 US - Market size and forecast 2022-2027

Exhibit 105: Chart on US - Market size and forecast 2022-2027 (thousand t)
Exhibit 106: Data Table on US - Market size and forecast 2022-2027 (thousand t)
Exhibit 107: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 108: Data Table on US - Year-over-year growth 2022-2027 (%)

9.11 Germany - Market size and forecast 2022-2027

Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 (thousand t)
Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 (thousand t)
Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.12 Japan - Market size and forecast 2022-2027

Exhibit 113: Chart on Japan - Market size and forecast 2022-2027 (thousand t)
Exhibit 114: Data Table on Japan - Market size and forecast 2022-2027 (thousand t)
Exhibit 115: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 116: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 117: Market opportunity by geography (thousand t)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 118: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 120: Overview on factors of disruption

11.4 Industry risks

Exhibit 121: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 122: Vendors covered

12.2 Market positioning of vendors

Exhibit 123: Matrix on vendor position and classification

12.3 Benton Foundry Inc.

Exhibit 124: Benton Foundry Inc. - Overview
Exhibit 125: Benton Foundry Inc. - Product / Service
Exhibit 126: Benton Foundry Inc. - Key offerings

12.4 BMF GROUP

Exhibit 127: BMF GROUP - Overview
Exhibit 128: BMF GROUP - Product / Service
Exhibit 129: BMF GROUP - Key offerings

12.5 chamberlin Plc

Exhibit 130: chamberlin Plc - Overview
Exhibit 131: chamberlin Plc - Business segments
Exhibit 132: chamberlin Plc - Key offerings
Exhibit 133: chamberlin Plc - Segment focus

12.6 Dandong Fuding Engineering

Exhibit 134: Dandong Fuding Engineering - Overview
Exhibit 135: Dandong Fuding Engineering - Product / Service
Exhibit 136: Dandong Fuding Engineering - Key offerings

12.7 Decatur Foundry Inc.

Exhibit 137: Decatur Foundry Inc. - Overview
Exhibit 138: Decatur Foundry Inc. - Product / Service
Exhibit 139: Decatur Foundry Inc. - Key offerings

12.8 Deeco Metals

Exhibit 140: Deeco Metals - Overview
Exhibit 141: Deeco Metals - Product / Service
Exhibit 142: Deeco Metals - Key offerings

12.9 Endurance Technologies Ltd.

Exhibit 143: Endurance Technologies Ltd. - Overview
Exhibit 144: Endurance Technologies Ltd. - Product / Service
Exhibit 145: Endurance Technologies Ltd. - Key offerings

12.10 Hitachi Metals Ltd.

Exhibit 146: Hitachi Metals Ltd. - Overview
Exhibit 147: Hitachi Metals Ltd. - Business segments
Exhibit 148: Hitachi Metals Ltd. - Key offerings
Exhibit 149: Hitachi Metals Ltd. - Segment focus

12.11 Krakatau Posco

Exhibit 150: Krakatau Posco - Overview
Exhibit 151: Krakatau Posco - Product / Service
Exhibit 152: Krakatau Posco - Key offerings

12.12 MAGMA Giessereitechnologie GmbH

Exhibit 153: MAGMA Giessereitechnologie GmbH - Overview
Exhibit 154: MAGMA Giessereitechnologie GmbH - Product / Service
Exhibit 155: MAGMA Giessereitechnologie GmbH - Key offerings

12.13 OSCO Industries Inc.

Exhibit 156: OSCO Industries Inc. - Overview
Exhibit 157: OSCO Industries Inc. - Product / Service
Exhibit 158: OSCO Industries Inc. - Key offerings

12.14 Plymouth Foundry Inc.

Exhibit 159: Plymouth Foundry Inc. - Overview
Exhibit 160: Plymouth Foundry Inc. - Product / Service
Exhibit 161: Plymouth Foundry Inc. - Key offerings

12.15 Qingdao Tian Hua Yi He

Exhibit 162: Qingdao Tian Hua Yi He - Overview
Exhibit 163: Qingdao Tian Hua Yi He - Product / Service
Exhibit 164: Qingdao Tian Hua Yi He - Key offerings

12.16 Sumitomo Electric Industries Ltd.

Exhibit 165: Sumitomo Electric Industries Ltd. - Overview
Exhibit 166: Sumitomo Electric Industries Ltd. - Business segments
Exhibit 167: Sumitomo Electric Industries Ltd. - Key news
Exhibit 168: Sumitomo Electric Industries Ltd. - Key offerings
Exhibit 169: Sumitomo Electric Industries Ltd. - Segment focus

12.17 thyssenkrupp AG

Exhibit 170: thyssenkrupp AG - Overview
Exhibit 171: thyssenkrupp AG - Business segments
Exhibit 172: thyssenkrupp AG - Key news
Exhibit 173: thyssenkrupp AG - Key offerings
Exhibit 174: thyssenkrupp AG - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 175: Inclusions checklist
Exhibit 176: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 177: Currency conversion rates for US$

13.4 Research methodology

Exhibit 178: Research methodology
Exhibit 179: Validation techniques employed for market sizing
Exhibit 180: Information sources

13.5 List of abbreviations

Exhibit 181: List of abbreviations

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