Automotive Metal Die Casting Market
Posted by manisha on April 29th, 2021
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The report covers an in-depth analysis of COVID 19 pandemic impact on Global Automotive Metal Die Casting Market by region and on the key players revenue affected till April 2020 and expected short term and long-term impact on the market.
The metal die casting is a process in wherein molten metal is infused inside a closed vessel with conditions like high pressure and temperature and cooled quickly until the solidified part becomes rigid to allow flow from the mold. Various applications of metal die casting in automotive such as shielding telematics and electronic equipment, providing vital shielding for telematics, which integrates telecommunications, navigation, and entertainment features within the vehicles’ systems, designing lightweight components for improved vehicle fuel economy are driving the global automotive metal die casting market. Moreover, factors such as stringent environmental regulations by various Environmental Protection Agencies to reduce 〖CO〗_2 emissions, increasing adoption of emerging technologies by automotive die casting market players and increasing supportive initiatives by various regions die casting associations to develop recyclable die castings that help to achieve firm product recycling requirements are driving the automotive die casting market growth.
However, factors such as high costs pertaining to metal die casting, fluctuations in raw material prices, lack of universal enforcement directive about use of metal die casting, less awareness in underdeveloped countries are restraining the market growth over the forecast period.
Global Automotive Metal Die Casting Market is segmented by metal, application and by region. By metal, aluminium held highest market share in 2019 and is expected to keep its dominance over the forecast period. The aluminium metal is used in the manufacturing of various automotive die cast components like engine and powertrain castings and wheels, shock towers, doors, back trunk, and bumpers because it is less expensive, more efficient, and easier to handle. Thus, increasing use of aluminium is expected to drive the market growth of this segment over the forecast period. Aluminum is followed by Magnesium and Zinc metal. Zinc held 27.34% of market share in 2019 and is expected to keep dominance over the forecast period. Zinc is easy for casting. It offers various benefits such as high level of production efficiency, superior quality and cost-effectiveness. Magnesium metal segment is expected to hold xx% of market share over the forecast period. Magnesium die casting has significant advantages, primarily the specific weight; due to these advantages it is widely used in the automotive industry with the ability to produce complex castings which reduce the weight of the vehicle and thus their fuel consumption. By application, structural components held the highest market share in 2019 and is expected to keep its dominance over the forecast period.
By geography, Asia-Pacific held highest market share of 48.78% in 2019 and is expected to keep its dominance over the forecast period owing to rapid expansion of automotive industry in this region. Factors such as rapid growth of the automotive industry in the developing economies of China, South Korea, India, and Thailand, the rising concerns over the 〖CO〗_2 emissions, increasing presence of automotive manufacturers and growing disposable income and purchasing power of consumers are driving the market growth in this region. China is leading the market in this region followed by Japan and India. APAC is followed by North America and Europe. North America is expected to hold xx% of market share over the forecast period owing to stringent regulations about 〖CO〗_2 emissions. Factors such as, adoption of automotive metal die casting in the manufacturing of lightweight components used in premium automobiles, increasing production of electrical vehicles in this United States are driving the market growth in this region. Europe is expected to hold xx% of market share over the forecast period.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Automotive Metal Die Casting Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Automotive Metal Die Casting Market dynamics, structure by analyzing the market segments and project Global Automotive Metal Die Casting Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Metal Die Casting Market make the report investor’s guide.
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Global Automotive Metal Die Casting Market, by Metal
• Structural Components
• North America
• Kkr Metal Components
This Report Is Submitted By : Maximize Market Research Company
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About the Authormanisha
Joined: June 26th, 2020
Articles Posted: 99
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