Automotive Casting Market Opportunity Assessment to Disclose Lucrative Revenue Prospects for Players

Technological advancements in automotive production is anticipated to drive the expansion of automotive casting market in the coming years. Strict regulatory norms and regulations are encouraging automobile manufacturers to control CO2 emission levels through reduction of overall vehicle weight. As a result, the demand for lightweight materials like aluminum is rising, since they provide notable weight reduction advantages.

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Among several casting techniques, die casting process is steadily gaining significance owing to its ability to make complex parts with high dimensional accuracy. Some automotive casting companies like Sunrise Metal, Dawang Steel Castings, Gibbs Die, Endurance Technologies, and Dynacast are focusing on new product development. In 2021, LK Group introduced the technologically advanced Dreampress 9000-ton giga press die casting machine, considered to be the world’s largest die casting machine, having wider application ranges in the automotive industry, offering higher performances.

Driven by emerging product developments, the global automotive casting market size is expected to register USD 169 billion by 2027. Described below are some of the top trends augmenting the demand for automotive castings.

  • Stringent emission regulations in Europe

The Europe automotive casting market is likely to hold over 15% share over the forecast timeframe. Continuous R&D initiatives related to automotive production and stringent regulatory environment regarding vehicle emission levels and weight reduction will fortify this growth. Regulatory bodies in the region have set up a framework to reduce vehicle emission levels and targets for vehicle manufacturers to bring down the emission levels.

Moreover, the European Parliament and the Council have advised producers of passenger cars to decrease average CO2 emission levels from new cars by 2030. Manufacturers have to strictly follow these rules, failing which, they will be required to pay a fine per vehicle.

  • Rising demand for zinc and magnesium based automotive castings

Some of the materials used for making automotive castings include steel, iron, aluminum and others like magnesium and zinc. Of these, zinc and magnesium are in high demand and are projected to exceed USD 13 billion in the upcoming years. The adoption of zinc in automotive casting is high given to its high corrosion resistance, low cost, superior strength, and exceptional stability, which are some important casting material properties.

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  • Increasing application in brakes and wheels

The brakes and wheels segment is expected to hold more than 15% market share credited to the surging demand of cast wheels owing to easy workability, exceptional strength, and low weight. In 2019, manufacturer of steel wheels, Wheels India, announced its plan to launch a new cast aluminum manufacturing plant in India. While in 2021, Endurance Technologies, a Indian auto component manufacturer, announced commencement operations at its new plant that will manufacture aluminum die-castings and integrate disc brake components with control brake modulators.

Table of Contents of the Report (TOC):

Chapter 4   Automotive Casting Market, By Material

4.1    Global automotive casting market material insights

4.2    Iron

4.2.1    Market estimates and forecast, 2017 – 2027

4.2.2    Market estimates and forecast, by region, 2017 – 2027

4.3    Steel

4.3.1    Market estimates and forecast, 2017 – 2027

4.3.2    Market estimates and forecast, by region, 2017 – 2027

4.4    Aluminum

4.4.1    Market estimates and forecast, 2017 – 2027

4.4.2    Market estimates and forecast, by region, 2017 – 2027

4.5    Others

4.5.1    Market estimates and forecast, 2017 – 2027

4.5.2    Market estimates and forecast, by region, 2017 – 2027

Chapter 5   Automotive Casting Market, By Process

5.1    Global automotive casting market process insights

5.2    Sand casting

5.2.1    Market estimates and forecast, 2017 – 2027

5.2.2    Market estimates and forecast, by region, 2017 – 2027

5.3    Die casting

5.3.1    Market estimates and forecast, 2017 – 2027

5.3.2    Market estimates and forecast, by region, 2017 – 2027

5.4    Investment casting

5.4.1    Market estimates and forecast, 2017 – 2027

5.4.2    Market estimates and forecast, by region, 2017 – 2027

5.5    Others

5.5.1    Market estimates and forecast, 2017 – 2027

5.5.2    Market estimates and forecast, by region, 2017 – 2027

 

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