Automotive Parts Die Casting Market Growth Rate, Future Scope, Analysis, Business Development And CAGR To 2023
Automotive Parts Die Casting Market – Overview
The automakers are pressured from the governments to reduce their carbon footprint in the context of vehicle production. The die casting process being simple to perform, requires minimum cost for execution. The electricity and other costs that would be incurred by the automakers in case of heavy machinery use for component manufacturing, are avoided.
The market is expected to witness a 7% CAGR in the forecast period.
Segmental Analysis
The segmentation of the Automotive Parts Die Casting Market is carried out on the basis of production process type, raw material type, application type, vehicle type, and region. On the basis of production process type, the Automotive Parts Die Casting Market is segmented into squeeze die casting, pressure die casting, vacuum die casting and semi-solid die casting. Based on the raw material type, the Automotive Parts Die Casting Market is segmented into zinc, magnesium, aluminium, and others. Based on the application type, the Automotive Parts Die Casting Market is engine parts, body assemblies, transmission parts, and others. On the basis of vehicle types, the Automotive Parts Die Casting Market is segmented into heavy commercial vehicle (HCV), passenger vehicle and commercial vehicle (LCV). Based on the region, the Automotive Parts Die Casting Market is segmented into North America, Europe, Asia Pacific and Rest of the World.
Detailed Regional Analysis
The regional evaluation of the Automotive Parts Die Casting Market includes regions such as North America, APAC, Europe, and Rest of the World. The Asia Pacific market is anticipated to push the progress of the Automotive Parts Die Casting Market. The automotive industry in this region is anticipated to develop rapidly due to the growing population, the collective purchasing power of the people, and a growing middle-class base. Nations such as India and China are anticipated to develop as a main automotive hub in the following decade. The European regional market has been the automotive hub globally for research and innovation.
Key Players
The noteworthy contenders in the Automotive Parts Die Casting Market are Dynacast, LLC (U.S.), Endurance Technologies Limited (India), Alcast Company (U.S.), Gibbs Die Casting Corp (U.S.), Kinetic Die Casting Company, Inc. (U.S.), Rockman Industries (India), Ryobi Die Casting Inc. (U.S.), Meridian Lightweight Technologies Inc. (England), Magic Precision, Inc. (China), and Mino Industry USA, Inc. (U.S.) among others.
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