Press release
Automotive Metal Casting Market 2019 Future Growth Prospects, Trends, Share, And Regional Forecast To 2023
The key players of global Automotive Metal Casting market are Nemak (Mexico), Ryobi Limited (Japan), Rheinmetall Automotive (Germany), GF Automotive (Switzerland), Ahresty Corporation (Japan), and Dynacast (U.S.). In 2016, these companies accounted for a share of XX% of the global market.
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The global embedded system for electric vehicle market has witnessed consistent growth over the past few years and is projected to capture a moderate CAGR over the forecast period of 2011-2027, reveals a research report published by Market Research Future (MRFR). Embedded systems have observed rapid growth in electric vehicles on account of various advantages that they offer such as reduction in vehicle accidents, increase in safety, and driving comfort with driver assistance functions like adaptive cruise control. Car manufacturers mostly concentrate on the functionality of cars as a hardware device only, thus complexities regarding safety and comfort arise in electric vehicles. Manufacturers have come up with novel approaches to cope up with this issue which has resulted in a paradigm shift from hardware to software and ultimately augmented the growth of the market. Increase in the consumer base of electric vehicles is a crucial driver of the market.
Weight reduction in vehicles is another major trend in the market that is expected to boost the demand, with manufacturers opting for lightweight materials to ensure reduction in emission rates. As a result, the use of lightweight materials such as aluminum, magnesium and zinc, has increased in the automotive industry. With major manufacturers and suppliers in the automotive industry competing at globally, the intensity of competition within the automotive industry has increased. Such intense competition is pushing various manufacturers and suppliers across the supply chain to develop high quality metal casting solutions to acquire greater market share.
The automotive metal casting market is currently booming in the Asia Pacific region. Rapidly rising vehicle production in this region is one of the primary driving factors. Improving infrastructure in this region combined with improving living standards, have positively impacted the automotive industry. Additionally, a global shift has been witnessed in the Asia Pacific region providing opportunities to major manufacturers in the market in the form of tax cuts and government subsidies. Availability of cheap labor in this region has also been a key factor in the automotive metal casting market. China is the key growth driver as it is expected that its body safety structures will be adapted to European standards, including wider use of metal casting components.
North America and Europe are the other two leading regions, mainly due to the established automotive industry. Existence of major manufacturers in this region is also a key driver of the automotive metal casting industry. Heavy investment in research and development enables manufacturers in this region to develop new techniques and products to utilize the future market trends. A key trend in this region has been the development of the lightweight material so as to tackle the problem of high emission rates.
List Of Tables:
TABLE 9 EUROPE AUTOMOTIVE METAL CASTING, BY DRIVE TYPE 2011-2027, (MILLION) 22
TABLE 10 EUROPE AUTOMOTIVE METAL CASTING, BY DRIVE TYPE 2011-2027, (MILLION) 22
TABLE 11 MIDDLE EAST AUTOMOTIVE METAL CASTING, BY DRIVE TYPE 2011-2027, (MILLION) 23
TABLE 12 AFRICA AUTOMOTIVE METAL CASTING, BY DRIVE TYPE, 2011-2027, (MILLION) 23
TABLE 13 EUROPE AUTOMOTIVE METAL CASTING 2011-2027, ($MILLION) 24
TABLE 14 EUROPE AUTOMOTIVE METAL CASTING, BY COUNTRY 2011-2027, ($MILLION) 25
TABLE 15 GERMANY AUTOMOTIVE METAL CASTING, BY VEHICLE TYPE 2011-2027, ($MILLION) 25
Continued…
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