Automobile Castings Market was valued at USD 87 Billion in 2022 and is projected to reach USD 115 Billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.
As we move into the period from 2023 to 2033, the automobile castings market is expected to see a transformative shift, driven by a variety of new factors. The rising demand for electric vehicles (EVs) is one of the key drivers for this change. EVs require specialized components such as electric motor housings, battery enclosures, and structural parts, which are often manufactured using advanced casting techniques. Moreover, the increasing adoption of autonomous driving technology is likely to drive further demand for complex castings used in sensors, cameras, and other electronic systems integrated into modern vehicles.
Additionally, the shift toward sustainability is expected to play a pivotal role in shaping the future of the automobile castings market. With governments across the globe tightening emission regulations and promoting green technologies, manufacturers are increasingly turning to sustainable casting processes that reduce carbon emissions and energy consumption. The use of recycled materials and the development of more energy-efficient casting technologies are expected to become major trends over the next decade.
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The global automobile castings market has undergone significant changes from 2018 to 2022, with a wide range of factors influencing demand and supply. Between 2018 and 2022, the automobile castings industry saw a steady growth rate driven by increasing vehicle production, technological advancements in casting processes, and the expanding demand for lightweight materials in automotive design. The growing emphasis on fuel-efficient and eco-friendly vehicles led to a rising demand for aluminum castings, which are lightweight and highly durable. As a result, the automotive sector has been incorporating more aluminum die-cast components, contributing to the overall market growth.
During this period, the global automobile castings market experienced some challenges due to fluctuating raw material prices, supply chain disruptions, and the economic slowdown caused by the COVID-19 pandemic. Despite these challenges, the market showed resilience, with key players innovating and focusing on automation and the adoption of advanced casting technologies such as 3D printing and investment casting.
Precision Castparts
Hitachi Metals
Amsted Rail
Weichai Holding Group Co.
Ltd.
Ryobi
Doosan Heavy Industries & Construction
CITIC
Nemak
Alcoa
Kobe Steel
ME Elecmetal
Hua Xiang Group
FAW Group
Gibbs Die Casting
Endurance
CHALCO
China Hongqiao
HongTeo
Wencan
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automobile Castings Market
Commercial Vehicle
Family Vehicle
Special Vehicle
Based on Types the Market is categorized into Below types that held the largest Automobile Castings market share In 2023.
Gray Cast Iron Casting
Ductile Iron Casting
Steel Casting
Aluminum Casting
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automobile Castings Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automobile Castings Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automobile Castings Market, By Type
6. Global Automobile Castings Market, By Application
7. Global Automobile Castings Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automobile Castings Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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