Report Code: A08902 | Pages: NA | Apr 2023 | 2401 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Die Casting Market
Request Now !Rise in income of middle-class families and improved standards of living in developing and developed countries have increased the sales of passenger cars. With increase in sales of the automotive sector, the automotive die casting market has proliferated. A die casting is a specialized tool used to cut shape using a press. Manufacturers are looking for flexible die casting solutions that suit the OEMs configuration set-ups and meet their quality and volume output requirements. With introduction of automated die casting manufacturing process, the time-consuming process in vehicle production has reduced significantly.Â
COVID-19 scenario analysis:Â
Rising disposable income in developing economies and increasing production of vehicles is the major driving factor of automotive die casting market. Automotive die casting plays a vital role in manufacturing of automotive industries. Additionally, die casting parts being effective in weight reduction, reduces the emission and increases the fuel-efficiency which in turn is anticipated to propel the growth of market. Moreover, die casting aids in more design freedom and flexibility to create complex parts. However, variation in raw material prices can hinder the market growth. Over the years, die casting manufacturers are in constant search for improvement in quality which is another driving factor in this market.
The automotive die casting market trends are as follows:
The demand for light-weighting of vehicle parts has increased significantly. With use of lightweight parts, the overall weight of vehicle is reduced. Along with it, the emission from vehicle is also reduced. Additionally, the rising adoption of fuel-efficient vehicles has increased the demand for lightweight parts. This has led to increasing adoption of aluminum die casting in vehicle manufacturing.
With increase in population in Asia-Pacific and emerging economies, the demand for automotive has boosted in recent years. Automakers are shifting their manufacturing units in Asia-Pacific as it avoids hefty import duties. Additionally, the labor and manufacturing cost in Asia-Pacific is comparatively low. Besides, manufacturers get an opportunity to dominate the region with their product range. Furthermore, due to under-developed infrastructure for EV in majority of Asia-Pacific countries, the market for gasoline vehicle and automotive die casting market will continue to proliferate.Â
Key benefits of the report:
Questions answered in the automotive die casting market research report:
Automotive Die Casting Market Report Highlights
Aspects | Details |
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By Application Type |
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By End user |
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By Vehicle type |
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By Region |
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Key Market Players | Castwel Autoparts, Dynacast, Endurance group, Martinrea Honsel, Rheinmetall Automotive, Shiloh Industries, GF Casting Solutions, Ryobi Die Casting Inc., Nemak, Italpresse Gauss |
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