Ferrous metal casting machinery is used for the production of ferrous cast parts. These parts are used in the assembling and manufacturing of components and equipment in various end-use industries. Casting machinery offers a superior rate of production capacity and helps in generating complex cast parts. The casting of ferrous materials is generally achieved through means of sand casting, shell casting, and investment casting. The materials used in the ferrous casting process are iron alloys and cast-iron alloys that include ductile iron casting, steel iron casting, and grey iron casting. The ferrous metal casting machinery is used for end-use purposes such as industrial machinery, automotive, off-highway equipment, and others.
COVID-19 Scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the ferrous metal casting machinery industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of ferrous metal casting machinery market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Drivers, restraints, and opportunities
The growing demand for automatic defect recognition (ADR) in x-ray applications is a major factor that is expected to drive the growth of the ferrous metal casting machinery market. Besides, technological advancements in tubes and software with advanced algorithms in x-ray technology is another key factor that can potentially fuel the growth of the ferrous metal casting machinery market. Moreover, the utilization of digital imaging technology in production processes has enhanced the efficiency of the overall casting process. This factor can boost the growth of the ferrous metal casting machinery market. However, high energy consumption by the ferrous metal casting machinery is a restraining factor for the market growth. On the contrary, integration of simulation technology in the casting process for high precision, reliable components, and cost efficiency can provide lucrative growth opportunities for the ferrous metal casting machinery market during the forecast period.
Trends in the ferrous metal casting machinery market
New technologies to flourish the market
Technological advancements and growth in automation in the ferrous metal casting machinery have led to the incorporation of new technologies such as simulation technology in the casting processes. The technology for casting and simulation is promoted with the name AutoCAST. This technology helps in estimating the best parting line and casting orientation to prevent drafts and undercuts. Also, it helps in automatically determining the gating and feeder locations. The emergence of such new technologies is anticipated to create a significant positive impact on the growth of the ferrous metal casting machinery market.
Advanced products offerings by key manufacturers
Manufacturers in the ferrous metal casting machinery market are focusing on new product developments with advanced features to differentiate their products from others in the market. For instance, Elecon Engineering Company, an Indian manufacturing company offers ferrous metal casting equipment with features such as the capacity of 600 MT/month, weight range up to 4500 Kg single pc., material grades of carbon steel, stainless steel, chrome steel, Ni-based alloys, and others, and maximum size of 4M X 3M X 2M. Such advance featured products offered by key market players can boost the sales of the ferrous metal casting equipment in the market that eventually results in a positive growth of the ferrous metal casting machinery market.
Key benefits of the report:
- This study represents the analytical representation of the global ferrous metal casting machinery market combined with the ongoing trends and future predictions to determine investment opportunities.
- The present market is thoroughly analyzed to enlighten the ferrous metal casting machinery market growth.
- The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global ferrous metal casting machinery market.
- Segmentation details of the global ferrous metal casting machinery market.
- The report gives a comprehensive global ferrous metal casting machinery market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years.
Ferrous metal casting machinery market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Type by Type Report Highlights
Key Market Players
Bühler Holding AG, Vulcan Engineering Co., Norican Group, Toshiba Machine Co., Ltd., TOYO MACHINERY & METAL CO., Ltd.