The global Aluminum Casting market size is expected to be worth around US$ 83.1 billion by 2027, according to a new report by Vision Research Reports.
The global Aluminum Casting market size was valued at US$ 50.4 billion in 2019 and is anticipated to grow at a CAGR of 6.3% during forecast period 2020 to 2027.
Rising demand for lightweight vehicles is anticipated to propel market growth as the product is used in manufacturing various auto components.
According to the Center for Automotive Research, the global sales of lightweight vehicles are expected to reach nearly 110 million units by 2026. The growth is attributable to stringent regulations on reducing fuel emissions, thus driving the need for lightweight materials such as aluminum. Vehicles made of aluminum offer better acceleration and better braking systems, thereby improving fuel economy.
However, despite steady demand from the automotive sector, the shift toward electrical drive is expected to negatively impact the market. A combustion engine requires 220 cast products and an electrical drive requires only 25 of them. Nonetheless, the growing demand for structural components and sensor casings of a vehicle is likely to continue as the electric engine or motor requires to die casting components to produce battery housings and casings. This, in turn, is anticipated to help keep product demand steady over the coming years.
The die casting segment accounted for a volume share of 52.6% in 2019 owing to the rising demand for aluminum casting products in the automotive sector. Die casting is used to manufacture various auto parts such as engines, cylinders, gears, and flywheel, which are used in high-end vehicles to mass-produce vehicles. This is owing to factors such as the low cost of die casting and strict CO2 emission laws being laid down around the world.
Rising demand for motorcycles, especially in the U.S., is likely to drive the demand for permanent mold casting over the coming years. As per data published by the U.S. International Trade Commission (USITC) in 2018, the new registration of 600cc or less motorcycles increased from 58.3 thousand units in 2013 to 63.4 thousand units in 2017. Thus, steady demand from the motorcycle segment is likely to offer ample opportunities for manufacturers of aluminum permanent mold casting in the near future.
Transportation was the largest segment in the aluminum casting market and accounted for a revenue share of 59.5% in 2019. The growth is attributed to the increasing demand for lightweight vehicles and aircraft globally. Sports vehicle is among the most lucrative segments in the lightweight vehicle sector. The popularity of sporting events, rallies, and races in North America and Europe continue to drive the demand for sports vehicles, thereby boosting the demand for aluminum casting.
The building and construction segment is anticipated to exhibit a CAGR of 4.8% in terms of volume from 2020 to 2027 owing to the increasing use of aluminum casting products in houses. Aluminum casting can be employed in various applications such as roofing, door handles, windows, and curtain walling. Rising replacement of iron and, due to changing consumer preferences and benefits of aluminum such as lightweight and aesthetic appeal, is anticipated to drive the market over the coming years.
The Asia Pacific region held a volume-based share of 46.2% in 2019 owing to the rapidly expanding manufacturing sector in China and India. Automakers are shifting or expanding their production facilities in these countries owing to low labor cost and government policy support, such as 100% FDI allowed under automatic route for auto components. As of December 2018, Continental, a Germany-based automaker invested USD 25.65 million in setting up a premium surface materials facility in Pune, India with a production capacity of 5 million square meters and is expected to start operations in 2020.
Europe accounted for a revenue share of 22.6% in 2019 owing to its established automotive sector, supported by stringent regulations on reducing CO2 emissions. Euro 6c with real driving emissions (RDE) and Euro 6b emission standards along with World Harmonized Light Vehicle Testing Procedure (WLTP) is likely to boost the demand for lightweight materials such as aluminum in the region, which in turn, is anticipated to augment market growth over the coming years.
Alcoa Corporation; Aluminum Corporation of China Limited; Alcast Technologies; Bodine Aluminum, Inc.; Consolidated Metco, Inc.; Dynacast; Endurance Technologies Limited; Gibbs Die Casting Corporation; Martinrea Honsel Germany GmbH; Ryobi Ltd; and Walbro.
Pressure die casting
Permanent mold casting
Building & construction
Central & South America
Middle East & Africa
The Aluminum Casting market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Aluminum Casting market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Aluminum Casting market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Aluminum Casting market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Aluminum Casting market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Aluminum Casting capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Aluminum Casting by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Aluminum Casting market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Aluminum Casting market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Aluminum Casting market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Aluminum Casting industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Aluminum Casting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Aluminum Casting market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Aluminum Casting market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Aluminum Casting market. These factors have benefited the growth of the global market for Aluminum Casting. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Aluminum Casting. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Aluminum Casting are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Aromatherapy Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Polypropylene Compounds Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Turkey Automotive Plastic Compounding Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Expanded Polypropylene Foam Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Automotive Plastics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...