Market
Highlights:
Aluminum is the
preferable metal than zinc and magnesium on account of its relatively
lightweight, versatility, low cost, high dimensional stability, and
recyclability. It is used in the manufacturing of die cast components such as
engine and powertrain castings and wheels, back trunk, doors, shock towers,
cross members, bumpers, and body extrusions of cars.
Get Free Sample Now@ https://www.marketresearchfuture.com/sample_request/7698
Pressure die
casting process is reliable, quick, and cost-effective for production of large
volume metal components that are net-shaped with high tolerance and dimensional
stability. There are two types of pressure die casting, namely high-pressure
die casting and low-pressure die casting. Out of which, the former process is
relatively better owing to excellent dimensional tolerance and is economical
for both smaller and larger volume production. It is used in the production of
the compressor housing, main housing, transmission cover, clutch housing,
master cylinders, front lever, and filter head.
The automotive metal die casting market is projected
to be valued at USD 46,167.5 million by the end of 2023 and projected
to register a CAGR of 8.75% during the forecast period. Die
casting is a process that is characterized by forcing molten metal into the
mold cavity under high pressure.
However, the
only bottleneck in the growth trajectory of the global automotive metal die
casting market is the high production and maintenance costs associated with the
process. Moreover, fluctuating raw material prices is further expected to
hamper global market growth. Nevertheless, the growing demand for automotive
metal die casting in the production of battery casings in electric vehicles is
likely to create immense growth opportunities for the market players.
Segment
Analysis:
The global
automotive metal die casting market has been segmented based on metal, process
type, application, and region. On the basis of metal, the global market has
been classified into aluminum, zinc, magnesium, and others. Among these, the
aluminum segment held the largest market share of 67.63% in 2017 and is
estimated to reach USD 31,447.5 million by 2023. This is attributed
to relatively low cost, durability, light weight, recyclability, surface
finishing options, and corrosion resistance properties. Zinc is projected to be
the fastest-growing segment with a robust CAGR of 8.70% owing to excellent
finishing capabilities, aesthetic features, superior strength, durability,
rigidity, and economical castability.
Based on process
type, the global market has been categorized into high-pressure die casting,
gravity die casting, low-pressure die casting, and others. Among these, the
high-pressure die casting segment dominated the market with a market share of
50.07% in 2017 and is projected to register the highest CAGR of 9.53% in the following
years. This is attributed to its excellent surface finishing capabilities, high
production efficiency, better mechanical properties, excellent dimensional
tolerance, and is economical both for smaller and larger volume production.
Also, it is possible to manufacture very small wall thickness and complex
products with intricate designs.
By application,
the global market has been divided into structural components, engine parts,
transmission components, and others. Among these, the structural components
segment accounted for the largest market share of 40.14% in 2017 and is
estimated to reach USD 19,846.0 million during the forecast period. These
components can replace multiple individual components, which, in turn, helps to
reduce the overall weight of the vehicle.
Global key Player:
·
Endurance Technologies Limited
·
Rockman Industries Ltd
·
Nemak
·
Sandhar
·
Martinrea International, Inc
·
Dynacast
·
Buhler AG
·
Ryobi Limited
·
Shiloh Industries, Inc
·
GF Casting Solutions AG
·
Minda Corporation Limited
·
Tadir-Gan Group
·
PHB Corp.
·
Gibbs
·
Eco die casting Co., Ltd
Regional
Analysis
The Automotive Metal Die Casting Market is studied with respect to five key
regions, namely Asia-Pacific, Europe, North America, Latin America, and the
Middle East & Africa. As per MRFR analysis, the Asia-Pacific market
accounted for the largest market share
of 51.27% in 2017 and is likely to be the fastest-growing market
with a robust CAGR of 9.48% by
2023. The market in Europe was the second largest and is projected to be valued
at USD 4,147.6 million by
the end of 2023. The North American market held a substantial market share of 15.5%in 2017.
Key Findings
of the Study:
- Global automotive metal die casting
market is projected to reach over
7,259.1 kilotons by 2023 with a healthy CAGR of 9.45% during the
assessment period of 2018–2023
- The Asia-Pacific market accounted
for the largest market share due to the robust growth of the automotive Market
in the economies such as India, Thailand, South Korea, and China
- The aluminum metal segment dominated
the global market growth with
67.63% market share in 2017 and is expected to be valued
at USD 31,447.5 million by
the end of 2023
- The high-pressure die casting
process type segment dominated the market with a market share of 50.07% in 2017 and
is estimated to grow at a notable CAGR of 53% during the review period
- The structural components
application segment held the largest market share of 40.14% in 2017 and is estimated to register a
healthy CAGR of 9.93% during
the forecast period.
- Some of the leading players
operating in the automotive metal die casting market are Endurance
Technologies Limited (India), Nemak (Mexico), Dynacast (US), Rockman
Industries Ltd (India), Buhler AG (Switzerland), among others.
Access Full Report Details and Order
this Premium Report @ https://www.marketresearchfuture.com/reports/automotive-metal-die-casting-market-7698
No comments:
Post a Comment