LONDON, Oct. 14, 2015 /PRNewswire/ -- 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. The North America market for automotive parts die casting registered revenue of $2.83 billion in 2014 and is estimated to touch $4.04 million by 2020 at a decent CAGR of 6.12% over the forecasted period. Market for magnesium die cast parts in automotive is expected to grow at a higher CAGR of 12.7% over the coming 5 years, while that of zinc is expected to grow at a slower pace of around 3%.
However, this market was highly influenced by socio-economic factors and unemployment rates in the region. Since the 2008 Recession, though the GDP showed growth, it was under-performing and with a low consumer sentiment, the consumption of the die casting parts also stayed low. Though the manufacturing capacity use of the die casts has improved slightly, it will still be low over a long period. Overall, the automotive die casting market in North America has a potential scope of growth with the die casting capacity utilization ahead of overall manufacturing utilization.
Dependence of the automobile manufacturers on the environmental agency regulations and a recent 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.
Rules levied 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 U.S to create a "die casting farm system". This aide in the entry of more technically qualified students into the die casting industry and improve the performance of the former as a whole. This initiative was mainly due to increased automation and a demand for higher skills from the workforce.
Briggs & Stratton Corp., California Die Casting Incorporated, Dynacast Incorporated, Auto Cast Incorporated, Rockwell automation and Ryobi Die Casting (USA) Inc., 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.
Report offers the following:
This report on North America automotive parts die casting market, analyzes the current market trends on a regional and country-wise scale, in detail.
This report is a crackdown of 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 in North America
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.
It also deals with the latest regulations and initiatives taken by the North America Die Casting Association for an up-to-date market understanding.
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