Iron Casting Category Is Expected to Grow at CAGR of 6.1% From 2023 to 2030Posted by rahul nikade on October 12th, 2023 Iron Casting Procurement Intelligence The iron casting category is anticipated to grow at a CAGR of 6.1% from 2023 to 2030. Rapid industrialization has boosted the utilization of the category in various industries such as construction, industrial machinery, and automotive industries, which is driving the growth of the category. Iron casting is utilized in the production of parts such as gearbox cases, suspension parts, engine blocks, brake parts, and others. Additionally, the demand for the category products is rising due to their durability, high strength, and cost-effectiveness which is also anticipated to drive the category growth over the coming years. Order your copy of the Iron Casting category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis Iron Casting Procurement Intelligence Report Scope The Iron Casting category is expected to have pricing growth outlook of 6% - 7% from 2023 to 2030, with below pricing models.
Supplier Selection Scope of Report
Supplier selection criteria of Report
Iron Casting Procurement Intelligence Report Coverage Grand View Research will cover the following aspects in the report:
Iron Casting Procurement Cost and Supplier Intelligence Raw materials, labor, utilities, machinery & equipment, rent, and others are some of the cost components of the category. The cost of machinery & equipment may vary depending on the size of the operation. Raw materials, labor, machinery & equipment account for a major part of the cost component. The cost of iron casting is cheaper than cast steel due to low material cost, and energy cost to produce a final product. Installation and setup costs for equipment can cost around USD 10,000 to USD 50,000. In terms of sourcing iron casting, the hybrid model, widely embraced in this sector, seamlessly integrates in-house processes with full-service outsourcing. Some suppliers prefer a partially outsourced approach by outsourcing specific tasks like raw material procurement and transportation services. For certain operations, such as the entire iron casting process-from pouring material into molds to the final product and transportation-maintaining an in-house team can prove advantageous for companies. Building robust partnerships with raw material suppliers, particularly for iron ore, and ensuring the supply chain's consistency and traceability are crucial elements in effectively sourcing within this category. Buyers of the category such as automotive, construction, and manufacturing industries usually look for casting design offered, type of metal used, product quality, post-casting operations, and production capacity. Maintaining uniform quality across orders and ensuring consistency from the initial to the final casting in each order is important and hence should be considered when selecting a reliable category supplier. List of Key Suppliers
Add-on Services provided by Grand View Research Pipeline:
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc. Browse through Grand View Research’s collection of procurement intelligence studies:
Brief about Pipeline by Grand View Research: A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. Our services include (not limited to):
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