18-Nov-2019: The global aluminum die
casting market size is anticipated to reach USD 48.93
billion by 2025, according to a new report by Grand View Research, Inc. It is
projected to register a CAGR of 10.1% during the forecast period. Increasing
demand for lightweight parts in the automotive sector is anticipated to drive
the growth.
Recycled aluminum
has widely gained popularity, as the demand for products with low carbon
footprint escalates. The momentum towards reducing carbon footprint is already
gaining prominence in the market. For instance, in 2016, Jaguar Land Rover
launched a project to return used vehicle parts to Novelis after the end of the
vehicle’s lifecycle.
Industrial Internet
of Things (IIoT) and industry 4.0 are emerging technologies in the aluminum die
casting market. Industrial IoT offers benefits across various areas such as
efficiency, new business models, new revenue streams and risk management and
safety compliance. With integration of electronic devices in casting
manufacturing, products can be obtained with improved functionality at an
enhanced productivity rate. Also, sensors can be embedded in the castings to
detect, measure and evaluate mechanical loads such as deformations, tensile
forces and vibrations in casting products.
Over the years to
come, digital platforms are likely to play a major role especially for the
small or medium level manufacturers. The rising prominence of such platforms
has encouraged the vendors to develop highly interactive websites to attract
new customers with their product range.
Many countries are
making efforts to control the pollution caused by the manufacturing sector. For
instance, the Government of China is offering increased incentives to the
companies implementing various steps to curb pollution. The scheme shall be
applicable for the industries such as metal, cement, glass, coking, and waste
to energy. In addition, province of Hebei in China is offering a pace setter
scheme for the industries which impose stricter norms to limit pollution than
necessary emission standards, consume low levels of coal and water, and
implement green supply chain system.
As per the
International Aluminum Institute, aluminum die castings for sub-frames and body
parts are projected to grow from 1.1 kg per vehicle in 2015 to 6.5 kg per
vehicle in 2020. While aluminum castings for steering knuckles are anticipated
to increase from 5.4 kg per vehicle in 2015 to 7.4 kg per vehicle in 2020.
Thus, the increase of aluminum content in vehicles to remain a key driving
factor for the market.
In
depth research report on Aluminum Die Casting Market
Further key findings from the report suggest:
·
In terms of revenue, pressure die casting accounted for 58.6%
of market share in 2018 on account of increasing vehicle production
·
High pressure die casting is expected to witness a CAGR of
10.3% from 2019 to 2025 due to increased production of automotive components
·
Consumer durables are expected to witness the fastest growth
over the forecast period due to increasing disposable income in emerging
countries
·
Transportation application accounted for a revenue share of
61.5% in 2018 and is expected to witness considerable growth over the forecast
period. Increasing production capacities of automakers is a key growth driver
·
Asia Pacific is expected to witness the fastest growth in
automotive production in the forthcoming years
·
Key players in the aluminum die casting market are focused on
acquisitions to expand their presence across different regions
Grand View Research
has segmented the global aluminum die casting market on the basis of process,
application, and region:
Aluminum Die Casting Process Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Pressure Die Casting
·
Low Pressure Die Casting
·
High Pressure Die Casting
·
Others
Aluminum Die Casting End Use Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Transportation
·
General Road Transportation
·
Sports Road Transportation
·
Heavy Vehicles
·
Aerospace & Aviation
·
Industrial
·
Agricultural Equipment
·
Construction Equipment
·
Others
·
Building & Construction
·
Telecommunication
·
Consumer Durables
·
Energy
·
Others
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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