Hyderabad, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "High-pressure Die Casting Market Report (2023-2028)," the market is estimated at USD 36.42 billion in 2023. It is expected to register a CAGR of 6.16% during the forecast period.
High-pressure die castings refer to alternative components that are lightweight. These are molds made by forcing molten metals at high speed and pressure.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 36.42 billion |
| Market Size (2028) | USD 49.11 billion |
| CAGR (2023-2028) | 6.16% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing penetration of die-cast parts in automotive and industrial machinery. |
| The growth of the construction sector. |
Who are the Top Companies in the High-pressure Die Casting Market?
The high-pressure die-casting market is highly fragmented in nature. The market comprises several domestic and international players worldwide. The competitiveness of the market has increased because many small- and medium-scale players are entering and expanding their business in the market.
Significant players in the high-pressure die-casting market are,
- Georg Fischer AG
- Shiloh Industries Ltd
- Ryobi Die Casting Inc.
- Nemak SAB De CV
- Rheinmetall AG (Rheinmetall Automotive, formerly KSPG AG)
- Sundaram - Clayton Ltd
- Koch Enterprises Inc. (Gibbs Die Casting Group)
- Engtek Group
- Officine Meccaniche Rezzatesi SpA
- Endurance Group
- Rockman Industries
- Dynacast (Form Technologies Inc.)
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Key Highlights from the High-pressure Die Casting Market Report:
Automotive Segment to Drive the Market
- Automobile parts like engine blocks, gearbox housing, clutch shoes, and allow wheels are manufactured using the high-pressure die-casting method. Many die-cast manufacturers are increasing their offerings to cater to the increasing demands of the automotive industry.
- Die casting has various use cases in automotive applications like electronic, structural, and engine components. EV producers are integrating large castings into their vehicle structures to improve the life cycle and age of the vehicles.
Asia-Pacific to Witness Highest Growth
- China is among the major producers of die-casting parts and occupies a large share of the market in Asia-Pacific. The country’s metal casting industry has over 26,000 facilities, among which 8,000 produce non-ferrous castings.
- Foundries in Asia-Pacific are focused on technical quality and brand orientation to gain consumer preference, thus gaining various opportunities in the market.
What are the Latest Developments in the High-pressure Die Casting Market?
- In November 2022, Pace Industries closed its two die-casting plants in Muskegon. The company produces aluminum die castings and zinc die castings, among others, for the automotive industry.
- In May 2022, GF Casting Solutions announced it will enhance the production of EV products and services.
Mordor Intelligence has Segmented the High-pressure Die Casting Market Based on Raw Material Type, Application, and Geography:
- By Raw Material Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Aluminum
- Zinc
- Magnesium
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Automotive
- Electrical and Electronics
- Industrial Application
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East and Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the High-pressure Die Casting Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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