The
global Aluminum Die Casting Market size is expected to
reach USD 105.63 billion by 2030, registering CAGR of 5.4% from 2023 to 2030
according to a new report by Grand View Research, Inc. The growth of the
telecommunication sector coupled with the increasing demand for lightweight
materials from the automotive and aerospace industries is expected to propel
the market growth in the coming years.
Die
casting is a process, performed by forcing molten aluminum into a steel die
(mold) under pressure. Based on production process, the market is segregated
into pressure die casting and other processes. Pressure die casting is further
segmented into high and low, where the former constitutes a larger share due to
its higher production rates. On average, European vehicles consist of 80-100
kilograms of high pressure die casting (HPDC) components. Other types of die
casting include vacuum and squeeze, which find use in applications, such as
solar sensors and turbine blades.
Aluminum
die casting components are extensively used in numerous industries, including
transportation, industrial, building and construction, telecommunication,
consumer durables, and energy. The transportation industry is anticipated to
maintain its lead during the forecast period as it is the key consumer of
aluminum die casting. Aluminum die cast parts are used in general road and
sports road transportation, heavy vehicles, and aerospace sectors.
Asia
Pacific is anticipated to register the fastest growth rate over the forecast
period. Progress in manufacturing activities in developing economies of the
region is propelling the product demand. For instance, in September 2020,
Hyundai Motor began production at its second plant in Vietnam. This is expected
to increase the production capacity by 140.0%.
Rising
product demand has led to increased competitive rivalry in the market. Major
market players are set to gain a competitive edge and recover their losses from
the previous year owing to the pandemic, by means of strategic initiatives such
as mergers & acquisitions in addition to increasing production capacities.
List of Key Players of Aluminum Die Casting Market
- Alcast
Technologies
- BUVO
Castings
- Chongqing
CHAL Precision Aluminium Co., Ltd.
- Consolidated
Metco, Inc.
- Endurance
Technologies Limited
- FAIST Group
- GF Casting
Solutions
- GIBBS
- Martinrea
Honsel Germany GmbH
- Madison-Kipp
Corporation
- Ryobi
Limited
Related Press
Release@ Aluminum Die Casting Market Report
Aluminum Die Casting Market Report Highlights
- Based on
application, telecommunication is expected to register the highest CAGR of
7.3% in terms of revenue during the forecast period owing to increasing
technological advancements and rising investments in the sector
- In the
pressure die casting production process segment, HPDC held the largest
revenue share of over 74.0% in 2022 and is anticipated to maintain its
lead during the forecast period. This can be attributed to the high
preference for HPDC among casting manufacturers owing to the high efficiency
of the process
- Asia Pacific
held the largest revenue share of more than 50.0% in 2022 on account of
the increasing investments in developing economies pertaining to capacity
expansions, especially in the transportation industry
- In North
America, the U.S. accounted for a revenue share of over 64.0% in 2022.
Rising construction spending, coupled with EV production in the country,
is expected to prove fruitful for the market growth during the coming
years
Aluminum Die Casting Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 72.57 billion |
|
Revenue forecast in 2030 |
USD 105.63 billion |
|
Growth rate |
CAGR of 5.4% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Request For A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/6128/rfc
Aluminum Die Casting Market Segmentation
Grand
View Research has segmented the global aluminum die casting market based on the
production process, application, and region:
Aluminum Die Casting Production Process
Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Pressure Die
Casting
- High
Pressure Die Casting
- Low
Pressure Die Casting
- Others
Aluminum Die Casting Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- Transportation
- General
Road Transportation
- Sports Road
Transportation
- Heavy
Vehicles
- Aerospace
& Aviation
- Industrial
- Agricultural
Equipment
- Construction
Equipment
- Others
- Building
& Construction
- Telecommunication
- Consumer
Durables
- Energy
- Others
Aluminum Die Casting Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Russia
- U.K.
- Turkey
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central
& South America
- Brazil
- Middle East
& Africa
- South
Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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