Aluminum Die Casting Machine Market is expected to cross USD 1.5 Billion by 2025 at a projected CAGR of 6%.
The aluminum die-casting machine market is growing globally due to the increasing use of aluminum in the automotive, aerospace, construction, and power industries worldwide. Aluminum has several qualities that make it more suitable for use in automotive manufacturing than steel. While steel is less expensive, it is heavier, which results in reduced fuel economy.
The malleability of aluminum lends itself to die casting, even for complex patterns. Though initial investment requirements are high to produce aluminum die-casting machines, demand is increasing, especially for specific-shaped aluminum parts. Aluminum die-casting machines consume less power than steel die-casting machines, which is also driving market growth. Moreover, aluminum is easily recyclable, contributing further to high demand, especially in the packaging industry.
According to the International Resource Panel, in 2010, the per capita use of aluminum was over 80 kg, with developed countries recording levels in excess of 350 kg. Developing nations have a low per capita aluminum use of 35 kg, but this figure is increasing with the rapid expansion of industries in developing economies. With over 60 million metric tons of aluminum produced globally in 2018 alone, the demand for aluminum die-casting machines is forecast to grow concurrent to the increase in per capita use of aluminum.
Aluminum Die-Casting Machine Market Key Players
Aluminum Die-Casting Machine Market USP
Aluminum die casting machines can produce a wide array of shapes and can be precision-engineered for critical applications.
By Product Type
By Industry Vertical
|CAGR||6% CAGR (2020-2027)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type and Industry Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Buhler AG (Switzerland), K. Technology Holdings Limited (Hong Kong), Toshiba Machine Co., Ltd (Japan), TOYO Machinery & Metal (Japan), Ube Industries, Ltd (Japan), Walbro (US), Zitai Precision Machinery Co., Ltd (Taiwan), Alcast Company (US), Consolidated Metco, Inc. (US), Gibbs Die Casting Corp. (US), Frech (EN) (Germany), Idra Group Ltd (Italy), HMT Machine Tools Limited (India)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market can attain a decent growth rate of 6% during the review period.
By 2025, the market size can be USD 1.5 bn.
Buhler AG (Switzerland), K. Technology Holdings Limited (Hong Kong), Toshiba Machine Co., Ltd (Japan), TOYO Machinery & Metal (Japan), Ube Industries, Ltd (Japan), Walbro (US), Zitai Precision Machinery Co., Ltd (Taiwan), Alcast Company (US), Consolidated Metco, Inc. (US), Gibbs Die Casting Corp. (US), Frech (EN) (Germany), Idra Group Ltd (Italy), HMT Machine Tools Limited (India) and others are the renowned players in the global market.
The automotive industry vertical is in the lead in the global market.
The market growth in North America is projected to be steady in the coming years, given the surging demand for die-cast aluminum in the construction, power, aerospace, packaging and automotive industries.