Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The "Die Casting - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Die Casting Market to Reach $100.2 Billion by 2026
The global market for Die Casting estimated at US$76.4 Billion in the year 2022, is projected to reach a revised size of US$100.2 Billion by 2026, registering a compounded annual growth rate (CAGR) of 7.2% over the analysis period.
China represents the largest regional market for Die Casting and is projected to reach US$41.3 Billion by 2026. Asia-Pacific is forecast to emerge as the fastest growing regional market with a CAGR of 8.3% over the analysis period.
Die casting market is influenced by the stable growth in the global economy and the fast-paced industrial and manufacturing activity being seen in high-growth emerging economies specifically in China and India.
Growing demand for lightweight and energy efficient components from automotive and consumer appliances industries, and increasing investments in electronics, construction, mining and aerospace and defense sectors present considerable growth opportunities.
The intensifying efforts to expand 4G networks and launch 5G networks are driving demand for die castings in the telecommunications industry. Sustained advancements in technology associated with casting automation will also fuel market for die castings in the coming years. Demand for passenger cars and light commercial vehicles across the globe, more so importantly in developing markets, will especially drive robust demand for use of cast products for a range of automobile parts and components in the coming years.
The market is also expected to benefit immensely from the shift towards aluminum over steel and iron products among automakers. Demand for passenger cars and light commercial vehicles across the globe, more so importantly in developing markets, will especially drive robust demand for use of cast products for a range of automobile parts and components in the coming years.
The market is also expected to benefit immensely from the shift towards aluminum over steel and iron products among automakers. Consumer appliances represent another promising market for die castings, with growth supported by advancements in scroll compressors in refrigeration and air conditioning.
Rapid pace of industrialization, technical advancements, falling prices of air conditioners and refrigerators, increased affordability among consumers in developing markets present a sizeable opportunity for the global die casting market in the long-term.
With castings market in developed economies gradually maturing, future growth potential is expected to emerge from high-growth developing economies. The growing use of castings in a range of applications including automotive, mass transportation, heavy machinery, and building & construction industries is driving growth in the region.
Further, the emergence of numerous manufacturing plants in low-cost Asian economies represents key growth drivers in the region. The market for Ferrous castings is forecast to dominate market share over the analysis period. Growth in the ferrous metal castings market over the next few years will be primarily driven by soaring demand for ductile iron castings.
Strong preference for lightweight castings in line with trend of producing light weight and yet robust and durable end products will continue to drive demand for ductile iron castings, which are relatively lighter than gray iron castings. Besides weight factor, ductile iron castings score over gray iron castings in terms of wear resistance, surface hardness and impact resistance.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- An Introduction to Die Casting
- Die Casting Market: Critical for Production of Manufactured Parts and Finished Goods
- Die Casting Volume Market Analysis
- Developing Economies Continue to Spearhead Market Growth
- An Insight into Global Castings Production
- Global Castings Market (2018): Average Production per Plant in Thousand Metric Ton by Select Leading Countries
- Ferrous Metal Castings Continue to Dominate, While Nonferrous Metal Castings Gradually Gaining Ground
- Global Economic Environment and Manufacturing Sector Trends Influence Die Casting Market Dynamics
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS(Total 69 Featured):
- Arconic, Inc.
- Endurance Technologies Limited
- Form Technologies, Inc.
- GF Casting Solutions AG
- Gibbs Die Casting Corp.
- Hitachi Metals, Ltd.
- Martinrea Honsel Germany GmbH
- Pace Industries
- Ryobi Limited
- Sigma Electric Manufacturing Corp.
3. MARKET TRENDS & DRIVERS
- Die Cast Automotive Parts Receive a Boost Against the Backdrop of the Engineering Focus Shed on Lightweighting
- Massive Engineering Interest in Lightweighting Catalyzes Application of Aluminum Die Cast in Auto Parts
- Rising EV Sales: Another Emerging Growth Catalyst in the Automotive End-Use Sector
- With Myriad Factors Boosting the Outlook for EVs, Die-Casting Foundries Will Witness the Emergence of New Demand Opportunities: Number of EVs On Road Worldwide by Type (In Units) for the Years 2016, 2018, and 2022
- Competition between Steel and Aluminum Castings Heats Up in the Auto Industry
- Heavy Transportation Segments Add to the Demand
- Heavy Industrial Equipment/Machinery Manufacturing Industry Promises Bright Prospects
- Opportunity Indicators
- Sustained Demand for Consumer Appliances Worldwide: A Strong Growth Driver
- Increasing Replacement of Wrought Iron and Steel with Aluminum Castings in Military and Defense Applications: An Opportunity for Growth
- Increased Defense Spending Bodes Well for Die Casting Market
- Rising Significance of Castings in Energy Production Chain Spurs Demand from Power Industry
- Mechanization of Agriculture Adds to the Demand
- Production of Plumbing Pipes & Fittings: A Lucrative Market Opportunity for Castings
- Global Market for Plumbing Fittings and Fixtures
- Porosity-Free, High-Strength and Superior Finish Aluminum Castings: A Key Requirement in Medical Devices
- Telecommunications Equipment: A High Potential End-use Application
- Die Casting: The Most Widely Used Process to Transform Aluminum into Products
- High Pressure Die Casting Market Rides on the Lightweight Trend in Automotive Industry
- Global High Pressure Die Casting Market
- Magnesium Emerges as a Promising Alternative to Aluminum Die Cast
- Comparative Analysis of Design Parameters
- Automation Ensures Improved Productivity for Die Casting Industry
- Growing Automation in Aluminum Die Casting Fosters Improved Productivity
- Technological Advancements and Innovations Spur Market Growth
- Simulation-based Castings Continues to Gain Traction
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/8gmebx
