Pune, India, April, 2018 /MRFR Press Release/- Market Research Future published a half cooked research report on global automotive parts die casting market. The automotive parts die casting market is expected to expand at CAGR of around 7% during the period 2017 to 2023.
The automotive industry was dependent on manual tasks for the manufacture of precision components for the longest time. The global industry dynamics changed with the advent of the die casting technology. The die casting is metal casting process in which, the high-temperature molten metal is forced into the mold cavity at a high pressure in a controlled manner. This mold cavity doesn’t represent the actual size specifications of the component to be manufactured. It is rather designed and manufactured taking into consideration the allowances, clearances and shrinkage or expansion space required by the molten metal upon its cooling. The mold cavity must be manufactured from a metal whose melting point is much higher than that of the metal, which is being poured in molten state into the cavity for giving it the desired shape. The cavity then provides the desired shape and size to the molten metal. The poured molten metal cools inside the same cavity.
The purpose of the automotive die casting is to manufacture high strength, long lasting and affordable critical components of the automobile. The die casting process is widely used in the automotive industry due to a number of reasons. This process can easily be used in mass scale production and is very effective. This process is quite efficient, especially, when used for manufacturing budget automobiles, since the cost of vehicle manufacturing reduces drastically due to the process. The automakers are pressured from the governments to reduce their carbon footprint in the context of vehicle production. The die casting process being simple to perform, requires minimum cost for execution. The electricity and other costs that would be incurred by the automakers in case of heavy machinery use for component manufacturing, are avoided.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific market is expected to have the maximum growth in the die casting market. The automotive industry, in this region, has been growing for a long time. Post the economic recession of 2008, the Asian automotive industry was the first to resurrect and start expanding again. Countries such as Japan with their technical know-how and India & China with their cheap labor and abundant resources are driving the automotive industry. Asia Pacific is considered the next global automotive hub in the next decade. The automotive sales would be complemented by affordable prices and long lasting & low maintenance cars. The Europe region always manufactures the most high-end cars. To make these automobiles more efficient, the use of die-cast would help bring down cost and increase the technical stability of the automobile. The North America market, has been the largest automotive market in terms of sales per unit person. The preference of large SUVs and the long distances covered by the customers in this region, encourages automakers to manufacture robust cars, which are low on maintenance. All these reasons make continuous growth of global automotive parts die casting market, evident.
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Scope of the Report
This study provides an overview of the Global Automotive Parts Die Casting Market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Automotive Parts Die Casting Market by its Production Process Type, Raw Material Type, Application Type, Vehicle Type and Region.
The key players in automotive parts die casting market are Alcast Company (U.S.), Dynacast, LLC (U.S.), Endurance Technologies Limited (India), Gibbs Die Casting Corp (U.S.), Rockman Industries (India), Ryobi Die Casting Inc. (U.S.), Kinetic Die Casting Company, Inc. (U.S.), Magic Precision, Inc. (China), Meridian Lightweight Technologies Inc. (England) and Mino Industry USA, Inc. (U.S.) among others.