Metal Casting Market 2023 | Worth US$ 236.7 Billion by 2028 | Growth Rate (CAGR) of 7.4% | IMARC Group

Metal Casting Market Outlook 2023-2028

The latest report by IMARC Group, titled "Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global metal casting market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global metal casting market size reached US$ 151.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 236.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Metal casting refers to a process in which molten metal is poured into a hollow container of desired geometrical shape to form a solidified part. There are various reliable and effective metal casting materials, including gray iron, ductile iron, aluminum, steel, copper, zinc, etc. Metal casting can produce objects with complex shapes and is cheaper than other manufacturing processes for producing medium to large quantities of castings. Cast metal products are an integral part of human life and the economy as they are found in manufactured goods and equipment, ranging from home appliances and surgical equipment to critical components for aircraft and automobiles. In line with this, metal casting finds extensive applications in several industries, such as construction, automotive, mining, aerospace, defense, etc.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Metal Casting Market Trends:

The increasing usage of this process, as it aids in improving energy efficiency, lowering production costs, enhancing environmental quality, creating innovative new cast products, etc., is primarily augmenting the metal casting market. Furthermore, owing to these advantages, it is widely adopted in pipes and fittings, mining and oilfield machinery, internal combustion engines, railroads, valves, farm equipment, etc., which depend heavily on casting to create uniform items. Apart from this, the rising requirement for metal recycling as metal casting foundries rely on it as a cost-efficient source of raw material that minimizes metal is acting as another significant growth-inducing factor. Moreover, extensive R&D activities and the development of computer-based visualization tools for die casters to create alternative means for molding are expected to fuel the metal casting market in the coming years.

Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/metal-casting-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• NEMAK SAB de CV
• GF Casting Solutions AG
• Dynacast Ltd.
• Ryobi Limited
• Rheinmetall Automotive AG
• Endurance Technologies Limited
• Ahresty Corporation
• Gibbs (Koch Enterprises Inc.)
• Aisin Automotive Casting, LLC
• MINO Industry USA, Inc.
• Thyssenkrupp AG
• Toshiba Machine Co., Ltd

Key Market Segmentation:

Breakup by Process:

• Gravity Casting
• High-Pressure Die Casting (HPDC)
• Low-Pressure Die Casting (LPDC)
• Sand Casting

Breakup by Material Type:

• Aluminum
• Cast Iron
• Magnesium
• Zinc
• Others

Breakup by Components:

• Alloy Wheel
• Battery Housing
• Clutch Casing
• Cross Car Beam
• Crank Case
• Cylinder Head
• Others

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Breakup by Electric and Hybrid Type:

• Hybrid Electric Vehicles (HEV)
• Plug-In Hybrid Electric Vehicles (PHEV)
• Battery Electric Vehicles (BEV)

Breakup by Application:

• Body Assemblies
• Engine Parts
• Transmission Parts
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Metal Casting Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.