Iron Casting market Size Touch US$ 140.6 billion by 2030
The global Iron Casting market size is expected to be worth around US$ 140.6 billion by 2030, according to a new report by Vision Research Reports.
The global Iron Casting market size was valued at US$ 86.0 billion in 2020 and is anticipated to grow at a CAGR of 7.1% during forecast period 2021 to 2030.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 140.6 Bn by 2030 |
| Growth Rate | CAGR of 7.1% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Hitachi Metals, Ltd.; Brakes India Pvt. Ltd.; Dandong Foundry; GIS; OSCO Industries, Inc.; Chamberlin plc; Crescent Foundry; Xinxing Ductile Iron Pipes Co. Ltd.; Jinan Meide Casting Co. Ltd.; Tianjin New Wei San Industrial Co., Ltd. |
Growth Factors
The recent outbreak of COVID-19 has hada significant impact on the iron casting demand, which has hindered market growth. The decline in growth and production of the European automotive industry owing to the COVID-19 pandemic has affected the demand for iron casting and its raw materials. To recover from their losses, European countries have allocated stimulus packages to revive the economy and several industries, such as automotive. For instance, in September 2020, the France government announced around USD 118.3 billion to reduce the economic impact of the pandemic.
Asia Pacific was also majorly impacted due to the pandemic. However, the countries are reporting quick recovery, especially China. The rapid growth in the construction & infrastructural projects in the region is expected to spur the product demand for applications in pipes & fittings. In addition, the growth of the automotive industry from the second quarter of 2020 onwards is expected to boost the product demand.
By Product Analysis
Gray cast iron was the largest segment in 2020 and held a revenue share of more than 64%. The segment is likely to maintain its position during the forecast period. Gray cast iron is the most common type of casting and is widely used in industrial applications.
the ductile iron segment is estimated to register a CAGR of 5.0% over the forecast period on account of growing demand for pipes & fittings in the building & construction sector.
Some of the common applications of gray cast iron include manhole covers, cinder blocks, internal combustion engine cylinder blocks, housings, hydraulic and suspension parts, valves, electrical boxes, wind turbine castings, machinery bases, and tractor parts among others.
By Application Analysis
Automotive was the largest application segment in 2020 and accounted for are venue share of over 29.5%. Iron castings products account for around 8% of the share in the overall weight of the vehicle.
The railways segment is estimated to grow at the fastest CAGR over the forecast period. Government allocation for the transportation infrastructure sector in developing as well as developed economies is projected to remain a key contributing factor for the segment growth.
By Regional Analysis
Asia Pacific was the largest regional market in 2020 and accounted for a revenue share of over 60%. China is the leading producer and consumer of iron casting products across the globe. The region is mainly driven by a large volume of industrial production insectors, such as automotive, building & construction, railway, energy, and machinery.
Key Players
Hitachi Metals, Ltd.
Brakes India Private Ltd.
Dandong Foundry
GIS
OSCO Industries, Inc.
Chamberlin plc
Crescent Foundry
Xinxing Ductile Iron Pipes Co. Ltd.
Jinan Meide Casting Co. Ltd.
Tianjin New Wei San Industrial Co., Ltd.
Market Segmentation
By Product
Gray
Ductile
Malleable
By Application
Automotive
Machinery & Tools
Pipes &Fittings
Railways
Power Generation
Others
Regional
North America
U.S.
Canada
Mexico
Europe
Germany
Italy
France
U.K.
Russia
Turkey
Asia Pacific
China
India
Japan
South Korea
Indonesia
Central & South America
Brazil
Argentina
Middle East & Africa (MEA)
South Africa
The Iron 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 Iron Casting market for the base year 2020 and the forecast between 2021 and 2030. 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 Iron Casting market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Iron 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 Iron 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 Iron 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 Iron 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 Iron Casting market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. 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 Iron Casting market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Iron 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 Iron 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.
Iron 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 Iron 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 Iron 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 Iron Casting market. These factors have benefited the growth of the global market for Iron 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 Iron 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 Iron 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
Research Methodology:
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.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers