Automotive Parts Die Casting Market 2023 Analysis By Top Players | Dynacast, Endurance Technologies Limited

As per the report published by The Brainy Insights, the global automotive parts die casting market is expected to grow from USD 15.28 billion in 2021 to USD 28.40 billion by 2030, at a CAGR of 7.13% during the forecast period 2022-2030. The Asia Pacific region emerged as the largest market for the global automotive parts die casting market, with a 35% share of the market revenue in 2021. The Asia Pacific currently dominates the automotive parts die casting market due to an increase in the disposable income of consumers, which has led to a rise in demand for vehicles. Asia-Pacific is expected to rise in the forecast period due to the adoption of new policies by the government, which is encouraging the adoption of automotive parts die casting.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭- https://www.thebrainyinsights.com/enquiry/sample-request/12791

Automotive Parts Die Casting Market Size by Product Type (Vacuum Die-Casting, Pressure Die-Casting, Squeeze Die-Casting, Gravity Die-Casting, & Semi-Solid Die-Casting), Raw Material Type (Aluminum, Magnesium, Zinc, & Others), Application, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Dynacast, Endurance Technologies Limited, Gibbs Die Casting Group, Linmar Corporation, Georg Fischer Limited, Nemak, Sandhar Technologies Limited, Castwel Auto Parts Private Limited, Alcast Company, and Kinetic Die Casting Company, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product type segment is divided into vacuum die-casting, pressure die-casting, squeeze die-casting, gravity die-casting, & semi-solid die-casting. The pressure die-casting segment dominated the market, with a market share of around 45% in 2021. The raw material type segment is divided into magnesium, aluminum, zinc, and others. Over the forecast period, the aluminum segment is expected to grow at the fastest CAGR of 9.61%. The application segment is divided into transmission parts, engine parts, body assemblies, battery, and related components, & others. In 2021, the transmission parts segment dominated the market, accounting for around 44% of global revenue. Transmission parts are involved in the primary function of a vehicle, i.e., movement. The critical importance of transmission makes it the most dominant sub-segment. It is produced on a larger scale than other automotive parts for new vehicles and repairing/replacing. The complex designs of transmissions can be manufactured with ease, with die casting methods contributing significantly to the development of this segment.

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Increasing concern about climate change has led to a shift in government policies to become more environment-friendly and sustainable. There needs to be a reduction in carbon emissions produced by automobiles on the road to reduce carbon emissions. The exhaust from these vehicles increases carbon emissions resulting in temperature rise. Government policies aimed at promoting & encouraging the adoption of automotive parts die casting method to improve fuel-efficiency of cars by providing subsidies & incentives will drive the die casting market.

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