Die Casting Services Market expected to reach US$ 90 Bn & ~ 9.7% CAGR Over forecast period (2021 – 2030)

The die casting services market is projected to expand at a CAGR of 9.7% throughout 2020-2030. As per FMI’s recent research report, the market growth can be attributed to a shift from the conventional metal steel to aluminium in various end-use sectors such as the automotive and construction industry.

“Market players are experimenting with novel technologies and employing several materials such as brass and aluminium to attain lightweight products.” concludes the FMI analyst.

die casting services market

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Key Highlights

  • The global die casting services market will account for US$ 90 Bn by 2030 end.
  • North America will be reflecting a steady CAGR of 4.4% due to higher sales of passenger vehicles in countries such as The US and Canada.
  • While gravity casting will reflect a higher CAGR than other categories, but high-pressure casting would hold the highest market share.
  • The automotive sector is anticipated to remain lucrative throughout the forecast period.

Drivers

  • Escalating demand for lightweight automobile parts to propel market growth.
  • Extensive use in the consumer electronics goods sector will generate the scope of market expansion.
  • Increasing popularity of aluminum die casting is projected to support the stance of the die casting services market over the coming decade.

Restraints

  • Supply and volatility in the prices of raw material are anticipated to impact the market growth over the forecast period.
  • Environmental regulations for the metallurgy sector regarding their emissions challenges market growth.

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COVID-19 Impact on the Market

The global sales of consumer goods and automobiles have foreseen a drop in since the onset of the COVID-19 pandemic. A shift in consumers’ buying behavior has prompted a decline in demand. With the transport and manufacturing of consumer products coming to a halt, the worldwide die casting services market is negatively impacted by the pandemic.

Competitive Landscape

Key market players operating in the market are Kuusakoski Group, Spark Minda, NEMAK, Linamar Corporation, Ryobi Limited, Carlton Die Castings Ltd., Handtmann Group of Companies, Form Technologies, Koch Enterprises Limited., Expromet Technologies Global Limited, Premier Die Casting Company, Elcee Group B.V., Koch Enterprises Inc., Dean Group of Companies, MRT Castings Limited., NovaCast Limited, JPM Group, Arrow Butler Castings Ltd, Harrisons Die Casting, and Lupton and Place Ltd.

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Key Segments

Product Type

  • High Pressure Casting
  • Low Pressure Casting
  • Gravity Casting

Application

  • Telecom
  • Consumer Goods
  • Automotive
  • Electronics
  • Aerospace and Defense
  • Other Applications

Regional Outlook

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Argentina, Rest of LATAM)
  • Europe (Germany, U.K., France, Italy, Spain, BENELUX, Russia, Rest of Europe)
  • Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Indonesia)
  • Oceania (Australia, New Zealand)

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