News

Apr 04, 2024

Aluminum Parts Gravity Die Casting Market Revenues to Reach USD 8.15 billion by 2028

Hyderabad, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Aluminum Parts Gravity Die Casting Market Report (2023-2028)," the market is estimated at USD 6.44

Hyderabad, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Aluminum Parts Gravity Die Casting Market Report (2023-2028)," the market is estimated at USD 6.44 billion in 2023. It is expected to register a CAGR of 4.82% during the forecast period.

Gravity die casting is a casting process where molten metal is poured into a mold using gravity, and filling is controlled by tilting the mold. This is one of the oldest methods of casting, which offers high production speed. Supply chain complexities in die-casting, automotive industry expansion, increased use of die-cast parts in industrial machinery, growth in the construction sector, and aluminum castings in electronics are driving the growth of the market. Automakers require lightweight metals for weight reduction, which is expected to drive the use of die-cast parts in the automotive sector in the coming years.

Report Summary:

Report Attribute

Details

Market Size (2023)

USD 6.44 billion

Market Size (2028)

USD 8.15 billion

CAGR (2023-2028)

4.82%

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

Growing demand from the automotive sector.

Advantage of high production speed.

Who are the Top Companies in the Global Aluminum Parts Gravity Die Casting Market?

The market is fragmented, with the presence of many regional small-medium scale players across several countries, as well as large-scale/international players. Key players have also expanded their operations globally through various mergers, expansions, partnerships, joint ventures, and acquisitions. They are focusing their revenues on R&D to come up with better production processes and alloys.

The significant players in the global aluminum parts gravity die casting market are,

Rockman Industries

Endurance Technologies Limited

Minda Corporation Limited

Hitachi Metals Ltd

MAN Group Co.

MRT Castings Ltd

Harrison Castings Limited

Vostermans Companies

CIE Automotive

Sundaram Clayton Ltd

GWP Manufacturing Services AG

Other Reports That Might Be of Your Interest:

Die Casting Market Report - The die casting market size is expected to grow from USD 77.99 billion in 2023 to USD 105.55 billion by 2028, at a CAGR of 6.24% during the forecast period (2023-2028).

China Automotive Parts Aluminum Die Casting Market Report - The Chinese automotive parts aluminum die casting market size is estimated at USD 9.62 billion in 2023, and it is expected to reach USD 14.31 billion by 2028, at a CAGR of 8.26% during the forecast period (2023-2028).

Key Highlights from the Global Aluminum Parts Gravity Die Casting Market Report:

Influence of Stringent Regulations and Standards

Regulatory frameworks like Euro 6 in Europe and emission performance standards maintained by EC and EEA/EMEP have influenced the automobile industry's sustainability.

Freight companies and fleet owners are adopting emission-reducing technologies to meet the regulations. Vehicle weight reduction is necessary to meet their emission reduction goals, driving the use of die-cast parts in vehicles.

Automakers seek efficiency and carbon emission reduction, leading to the importance of lightweight aluminum die-casted parts.

Asia-Pacific Dominating the Market

The Asia-Pacific region holds the largest automotive market globally, primarily due to economies like China and India, as well as active player engagement and government initiatives.

China is a significant exporter of aluminum and related products. The high demand for Chinese products globally is boosting the aluminum parts gravity die-casting market.

India's 'Make in India' initiative, automotive industry development, and strict emission norms are propelling the growth of the market studied in the country. Passenger vehicle exports from India are growing.

What are the Latest Developments in the Global Aluminum Parts Gravity Die Casting Market?

In November 2022, Anderton Castings added capacity to its aluminum high-pressure die casting, machining, welding, and assembly, to be able to assist in immediate resourcing projects.

In August 2022, Wencan Group Co. Ltd announced that it intends to build a production base of aluminum die-cast parts for New Energy Vehicles (NEVs) in Lu'an Economic and Technological Development Zone, Anhui Province.

Mordor Intelligence has Segmented the Global Aluminum Parts Gravity Die Casting Market Based on Application and Geography.

By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)

Automotive

Parts and Components

Transmission Parts

Engine Parts

Brake Parts

Other Parts and Components

Vehicle Type

Passenger Cars

Commercial Vehicles

Other Vehicles

Electrical and Electronics

Industrial Applications

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

China

Japan

India

South Korea

Rest of Asia-Pacific

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

South Africa

Turkey

Rest of Middle East & Africa

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 Global Aluminum Parts Gravity 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.

Attachment

Aluminum Parts Gravity Die Casting Market - Mordor Intelligence