Aluminium & Magnesium Die Casting Market - Rising esteem for fuel-efficient vehicles is fueling the market growth
According to a new market report published by Stratistics MRC the Global Automotive Parts Aluminium& Magnesium Die-Casting market accounted for $6.2 billion in 2014 and is expected to reach $10.8 billion by 2022 growing at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period. The growing automobile industry and amalgamation of lightweight parts in automobiles has influenced the market growth. The movement of the auto industry, coupled with new home sales, will give a very reliable indication on the health of the die casting industry.
Global Automotive Parts Die-Casting market is segmented by Product into Pressure die casting, vacuum die casting, Squeeze die casting, and Semi-solid die casting. Among these products, Pressure die casting commanded the market in 2014 and will be the most picked production process for the next 5-10 years. This is mainly due to the ease of operation, high productivity and economic feasibility of the process. However Vacuum die casting is expected to grow at the faster pace during the forecast period due to minimal porosity and tensile strength of the end product from the process
Global Automotive Parts Aluminium & Magnesium Die-Casting market is segmented by Raw material into Aluminum, Zinc, Magnesium, and Others. By raw material, Aluminum accounted for the largest market revenue in 2014. Swing towards lightening and higher flexibility in robotics and machining tools in the automotive industry spiked up the use of aluminum for die casting parts. However Magnesium is expected to grow at the highest CAGR during the forecast period.
Browse the full report at "Global Automotive Parts Aluminium & Magnesium Die Casting Market Outlook".
Global Automotive Parts Aluminium & Magnesium Die-Casting market is segmented by Application into Body assemblies, Engine Parts, Transmission parts, and others. Among the applications segment, Body assemblies segment commanded the market with largest revenue in 2014. However others segment is expected to grow at the highest CAGR during the forecast period. For body assemblies, North America commanded the largest market revenue and RoW is expected to grow at the highest CAGR during the forecast period.
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America commanded the largest market revenue in 2014. However Rest of the World is expected to grow at the highest CAGR during the forecast period. North America has the largest market and accounts for more than 30% of the global market share driven by the government initiatives, large-scale domestic production, and availability of resources. In the United States, Aluminum Die-Casting market for automobiles has matured and is witnessing stable growth over the past few years. On the other hand, China with its magnesium reserve is anticipated to emerge as the leading supplier of the magnesium die cast parts. India is progressively growing as a hub for the automobile components manufacturers, particularly for magnesium and zinc die cast auto parts. India and China are expected to boost the global market during the forecast period strongly driven by the rapid growth in automobile industry.
The key players in the Automotive Parts Die-Casting market include Castwel Autoparts Pvt Ltd., Dynacast, Endurance Group, Mino Industry USA Inc., Kinetic Die Casting Company, Sunbeam, Auto Pvt. Ltd, Gibbs Die Casting Group, Rockman Industries Ltd., Texas Die Casting, and Sipra Engineers Pvt. Ltd.
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