Report Code: A07528 | Pages: NA | Mar 2023 | 1115 Views | ||
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Request Now !Steel is one of the most versatile materials available as it can be welded and processed to serve numerous end-user industries. Steel casting is formed by pouring liquid steel into a cavity. The steel cools and gets stiffen in the cavity and then evacuated for cleaning. Heat treatment is required to meet specific characteristics. Gears, valve bodies, hydroelectric turbine wheels, rail street truck frames, forging presses, mining apparatus, valves & fittings, axle housing, and motor chamber blocks are some of the steel casting products. Steel castings types are carbon steels and alloy steels. Low-alloy steel has around 8% alloying substance and high-alloy steel has more than 8%. Â
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Steel casting gives the end-user industries the benefit of choosing the desired size and shape of casting dependent on their requirement. Steel casting provides metallurgical adaptability and improved weldability & functionality at high temperatures. In addition, steel casting items are more reliable than other metal castings. The decreased delivery time and improved efficiency offered by steel casting are expected to empower end users to accomplish different economic advantages. These effective properties of steel casting help its development in different applications in the end industries, thereby fueling the market growth during the analysis period.Â
Utilization of aluminum-based compounds and other composite materials in the automotive sector and high energy required for casting process hinder the steel casting market growth during the analysis period. For example, magnesium and aluminum alloys build the presentation attributes of vehicles and aviation.Â
Transportation, mining, and oil & gas are some of the end-user industries that display great interest for steel casting, owing to its properties. For instance, the structure adaptability offered by steel casting empowers end-user industries to choose the shape and size of the casting according to their application. High design quality offered by steel castings makes them ideal compared to other castings such as aluminum.
Asia-Pacific is expected to be one of the fastest-growing regions, owing to the rapidly growing construction sector, automotive sector, and others. India is expected to be one of the major contributors to the steel casting market. This is attributed to the favorable government regulations for energy & power sector, infrastructure sector, and others.Â
Questions answered in the steel casting market research report:
Steel Casting Market: Global Opportunity Analysis and Industry Forecast 2020–2027 Report Highlights
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Key Market Players | Berkshire Hathaway Inc., Hitachi Metals Ltd., Japan Casting & Forging Corporation., Kobe Steel Ltd., Peekay Steel Castings (P) Ltd., Anhui Yingliu Electromechanical Co., Ltd., Precision Castparts Corp., Amsteel Castings Pvt. Ltd., Nucor Corporation, Pacific Steel Casting Company, Hyundai Steel, ESCO Group LLC |
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