Automotive Part Die Casting Market Trend, Share, Growth, Size and Forecast 2030

Automotive Part Die Casting Market Size

The global Automotive Part Die Casting Market accrued earnings worth approximately 11.1 (USD Billion) in 2021 and is predicted to gain revenue of about 20.31 (USD Billion) by 2028, is set to record a CAGR of nearly 7.8% over the period from 2022 to 2028. The study provides assessment and analysis of the Automotive Part Die Casting Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Automotive Part Die Casting Market: Outlook

Increase in middle-income group population coupled with rise in standard of living in emerging countries as well as developed nations have resulted into surge in sale of passenger vehicles. This has resulted in humungous demand for automotive part die casting across globe. Reportedly, a die casting in automotive sector is a special tool that is utilized for cutting automotive parts in uniform shapes through use of a press. Product manufacturers prefer flexible die casting services that can suit original equipment manufacturer configuration set up along with meeting quality of products & volume output needs. Owing to launching of automated die casting production processes, the consumption of time in vehicle manufacture has come down drastically.

COVID-19 Impact Study of Automotive Part Die Casting Market

Lack of capital and less production of various components in automotive industry has severely impacted automotive market during COVID times. Apart from this, outbreak of COVID-19 pandemic has resulted into customers not able to visit car and two-wheeler showrooms due to social distancing laws and lockdowns. This has increased the gap between demand and supply of vehicles leading to less production of vehicles during COVID, thereby impacting demand for automotive part die casting components. Reportedly, automotive part die casting business has come across huge challenges owing to lower demand for original equipment manufacturers due to rapid spread of COVID pandemic. Disruptions in supply chain activities are predicted to halt goods exchange, thereby severely impacting growth of automotive part die casting market.

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Automotive Part Die Casting Market: Dynamics

• Drivers: Surge in per capita income of population in emerging economies and rise in vehicle production will drive growth of automotive part die casting market. Need for reducing GHG emissions and focus on enhancing fuel efficiency will drive market trends.
• Restraints: Fluctuations in raw material costs and negative impact of COVID-19 on sales of the product will impede growth of industry.
• Opportunities: With product playing a key role in weight reduction and need for effective designing as well as suppleness in creating complex components will open new growth avenues for automotive part die casting industry.
• Challenges: Transportation activities are hit by COVID-19 pandemic and changes in policies of governments regarding product approval & dales post COVID conditions will impact demand-supply growth curvature and can pose a challenge to the business.

Automotive Part Die Casting Market: Segmentation

Based on different segments, automotive part die casting market is divided into production type, raw material type, application type, end-user, and vehicle type. On basis of production type, market is sectored into squeeze die-casting, semi-solid die-casting, pressure die-casting, and vacuum die-casting. Raw material type wise, automotive part die casting industry is divided into aluminum, magnesium, and zinc. In terms of application type, industry is segregated into body assemblies, transmission components, and engine components. Based on end-user, automotive part die casting sector is divided into automotive OEMs and Independent Manufacturers. In-Vehicle type terms, the industry is sectored into passenger vehicle and commercial vehicle.

Automotive Part Aluminum Die Casting Segment To Contribute Majorly Towards Market Share By 2028

Growth of segment over next six years is subject to its light weight and corrosion resistance properties of aluminum. In addition to this, mechanical features of the raw material as well as its thermal & electric conductivity will drive segmental surge. Apart from this, low density aluminum is required for die casting and hence finds massive application in automotive part die casting industry. Moreover, aluminum die casting method possesses high strength at extreme temperatures.

Vacuum Die-Casting To Lead Production Process Segment In 2022-2028

Rise in demand for vacuum die-casting in aluminum part die casting process is due to former’s ability in manufacture of effective weldable vehicle products in comparison to other processes.  Automotive products produced in this way are very big.

Global Automotive Part Die Casting Market: Report Scope:

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Automotive Part Die Casting Market: Regional Insights

Asia Pacific To Dominate Automotive Part Die Casting Market Over 2022-2028

Growth of regional market over forecasting timespan is due to thriving automotive vehicle sector in countries such as China with massive vehicle production & sale. Rise in sale of passenger cars in countries such as Malaysia, India, China, and Indonesia will drive regional market trends.

Key Industry Participants

Giant players have strongly influenced market and will continue to do so even in foreseeable future. They include Consolidated Metco, Inc., Endurance Technologies Limited, Rockman Industries, Ryobi Die-casting Inc., Alcast Technologies, Dynacast, and Howmet Aerospace Inc.

Breakthroughs Taking Place In Automotive Part Die Casting Industry

• In February 2021, Endurance Technologies Limited – a key manufacturer of aluminum die casting products- based in Maharashtra, India opened its commercial product unit in Tamil Nadu in Country. The establishment is predicted to increase volume of production of aluminum die castings and will supply machine aluminum castings to firms such as Royal Enfield and Hyundai.
• In December 2020, a UK-based firm referred as Ryobi Aluminum Casting Limited declared that it secured a multi-million pound contract with a new transmission supplier in electrified drivetrains business. The deal is worth UK pound of 15 million yearly and is likely to produce nearly 1, 50,000 clutch & transmissions units annually for new hybrid automotive from 2023.

The global automotive part die casting market is segmented as follows:

By Production Type

• Squeeze Die-Casting
• Semi-Solid Die-Casting
• Pressure Die-Casting
• Vacuum Die-Casting

Raw Material Type

• Aluminum
• Magnesium
• Zinc

By Application Type

• Body Assemblies
• Transmission Components
• Engine Components

By End-User

• OEMs
• Independent Manufacturers

 By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa