Booming Automotive Industry Drives the Global Automotive Metal Casting Market
Market Research Future (MRFR) report on the global automotive metal
casting market is a critical evaluation that offers a succinct overview of the
market. The study covers the COVID-19 analysis of the global automotive metal
casting market and offers a comprehensive and reliable illustration of market
segments, recent trends, growth estimates, and market challenges from 2017 to
2023 (forecast period) with a view to identifying economic opportunities.
Metal casting processes have been practiced for thousands of years. They
are commonly used for preparing sculpture, particularly in bronze, jewelry in
precious metals, and weapons and tools. Casting is a process in which a liquid
metal is put into a mold that contains a hollow shape. The global automotive
industry is growing rapidly. Metal casting is often used to make complex
automotive structures and shapes that would be unworkable by other methods.
Globalization, digitalization, and intense competition are changing the face of
the metal casting industry.
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Market Dynamics
The automotive metal casting market has seen a significant surge,
primarily due to the current hype of mobility services, autonomous driving,
digitization, and electric powertrains that dominate the automotive industry.
With the boom in automotive production, the automotive chassis and exteriors
worldwide have made a significant contribution to the growth of the automotive
metal casting industry. Weight reduction in vehicles is another significant
market trend that is expected to fuel demand, with manufacturers opting for
lightweight materials to ensure a reduction in emissions. As a consequence, the
use of lightweight materials like aluminum, magnesium, and zinc in the
automotive industry has increased. With significant manufacturers and suppliers
in the automotive sector competing globally, the level of competition within
the automotive industry has grown.
Such intense competition involves numerous manufacturers and suppliers
across the supply chain to develop high-quality metal casting solutions to grow
their market share.
However, fluctuating metal prices are projected to be a significant
retraining factor in the automotive metal casting industry. Increased demand
for steel is directly proportional to the rising demand for automobiles
worldwide.
Market Segmentation
The global metal casting market has been segmented based on application
and materials.
On the basis of application, the global metal casting market has been
segmented into body assembly, engine, and transmission.
On the basis of materials, the global metal casting market has been
segmented into aluminum casting, cast iron, magnesium casting, and zinc
casting.
Regional Analysis
By region, the global metal casting market has been segmented into North
America, Europe, Asia Pacific, Middle East & Africa, and South America.
The automotive metal casting market is currently expanding in the Asia
Pacific region. Rapidly growing vehicle production in this area is one of the
key drivers. Improving infrastructure in this region, coupled with improving living
standards, has had a positive effect on the automotive industry as a whole. In
addition, there has been a global shift in the Asia Pacific region, creating
opportunities for major manufacturers in the market in the form of tax cuts and
government subsidies. The availability of cheap labor in this area was also a
critical factor in the automotive metal casting industry. China is a crucial
driver of development, as its body safety structures are expected to be adapted
to European standards, including the broader use of metal casting components.
The other two leading regions are North America and Europe, primarily
due to the established automotive industry. Major manufacturers in this area
are also a primary driver for the automotive metal casting industry. Massive
investment in research and development allows manufacturers in this area to
develop new techniques and products to take advantage of potential market
trends. The production of lightweight material to address the problem of high
emission rates has been a critical trend in this area.
Key Players
Notable players in the global automotive metal casting market are Nemak
(Mexico), Ryobi Limited (Japan), Ahresty Corporation (Japan), Rheinmetall
Automotive (Germany), GF Automotive (Switzerland), and Dynacast (U.S.).
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Key Questions
Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/
Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this
market?
- What are the strategies adopted by
key players?
TABLE OF
CONTENTS
1 EXECUTIVE
SUMMARY
2 SCOPE OF
THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET
LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN
ANALYSIS
4 MARKET
DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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