Automotive Metal Casting Market to depict appreciable growth prospects over 2022-2030
Automotive Metal Casting Market Highlights
utomotive metal casting market has witnessed a significant growth, mainly due to the current hype of mobility services, autonomous driving, digitization and automotive-dominated electric powertrains. With the boom in automotive manufacturing, automotive chassis and exterior worldwide account for a major share of automotive metal casting market growth. Vehicle weight reduction is another major trend on the market which is expected to boost demand, with producers opting for lightweight materials to ensure emission reduction rates.
As a result, in the automotive
industry, the use of lightweight materials such as aluminium, magnesium and
zinc has increased.With major manufacturers and suppliers competing at global
level in the automotive industry, competition intensity within the automotive
industry has increased. Such intense competition is forcing diverse suppliers
and manufacturers around the supply chain to establish high-quality metal
casting solutions to gain greater market share. Moreover, consumer expenditure
has considerably improved all over the globe, due to a growth in urbanization
and availability of new employment opportunities. This is likely to upsurge
expenditure in the automotive sector.
The fluctuating cost of metals in
the automotive casting industry is considered to be a significant retraining
factor. The growing demand for steel is directly proportional to the growing
demand for cars worldwide.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/5447
Competitive Dynamics
The major players of global
Automotive Metal Casting market are Rheinmetall Automotive (Germany), Nemak
(Mexico), GF Automotive (Switzerland), Ryobi Limited (Japan), Ahresty
Corporation (Japan), and Dynacast (U.S.).
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 analyzed on the on the basis of application as Engine, Body Assembly,
and Transmission.
On the basis of materials, the
market has been segmented as cast iron, aluminum casting, magnesium casting and
zinc casting.
Regional Outlook
In the Asia Pacific region the
automotive metal casting market is booming. One of the primary driving factors
for this area is increasingly growing vehicle output. Overall shift in the
global automotive industry favors the entire Asia Pacific region in leading the
charge to be the next powerhouse in the automotive sector. Improving infrastructure
in this region, combined with enhancing living standards, has had a positive
impact on the entire automotive industry.
In addition, a global shift has
been witnessed in the Asia Pacific region, which offers major producers on the
market opportunities in the form of tax cuts and government subsidies. Cheap
labor supply in this area has also been a key influence on the casting market
for automotive metals. China is the key driver of growth, as its body safety
structures are expected to be adapted to European standards, including more
extensive usage of metal casting components.
North America and Europe are the
other two leading countries, due primarily to the automotive industry that has
developed itself. The presence of major manufacturers in this area is also a
primary driver of the casting industry for automotive metals. Heavy investment
in R&D allows manufacturers in this region to develop new techniques and
products to exploit future market trends. A significant trend in this region
has been the expansion of the lightweight material so as to tackle the
difficulty of high emission rates.
The automotive industry is in the
bourgeoning stage in the Middle East and the South America. The market for
automotive metal casting is expected to have a steady growth during the
forecast period.
Continue......
Browse Complete Report @ https://www.marketresearchfuture.com/reports/automotive-metal-casting-market-5447
About Market Research Future -
At Market Research Future (MRFR),
we enable our customers to unravel the complexity of various industries through
our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw
Research Reports (3R), Continuous-Feed Research (CFR), and Market Research
& Consulting Edibles.
MRFR team has the supreme
objective to provide the optimum quality market research and intelligence
services to our clients. Our market research studies by products, services,
technologies, applications, end-users, and market players for global, regional,
and country-level market segments, enable our clients to see more, know more,
and do more, which help to answer all their most important questions.
In order to stay updated with the
technology and work process of the industry, MRFR often plans & conducts
meet with the industry experts and industrial visits for its research analyst
members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258
0071(US) +44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Comments
Post a Comment