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Global Foundries Market Size, Share, Growth And Forecast 2023-2032
Foundries Market Report
The Business Research Company's Foundries Global Market Report 2023 identifies stable economic growth as the major driver for the foundries market's growth in the forecast period. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period.
The global foundries market grew from $174.07 billion in 2022 to $188.51 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The foundries market is expected to grow to $250.01 billion in 2027 at a CAGR of 7.3%.
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Major competitors in the foundries market are Ryobi Limited, Aludyne Inc., Kobe Steel Ltd., Georg Fischer AG, Grupo Industrial Saltillo S.A.B. de C.V, Neenah Enterprises Inc., Vesuvius plc, Anhui Yingliu Electromechanical Co. Ltd., Allegheny Technologies Incorporated, and Doosan Heavy Industries & Construction Co. Ltd.
A key trend in the foundries market includes automated manufacturing systems. Automation systems refer to a machine, tool, or technology such as robotics and AI that helps to reduce human intervention and improve safety in metal manufacturing processes such as processing, assembling, and material handling. This allows metal manufacturing companies to increase efficiency and production, improve safety on the manufacturing floor, enhance product quality, perform complex and varied tasks, enhance process stability, provide flexibility to produce products, and eliminate routine manual tasks.
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The foundries market is segmented -
•By Type: Ferrous Metal Foundries, Nonferrous Metal Foundries
•By Foundry Type: Pure Play Foundry, Integrated Device Manufacturers
•By Application: Automobile, Pipes and Fittings, Agricultural Machinery, Electrical Equipment, Machine Tools, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the foundries market.
The Business Research Company's "Global Foundries Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Foundries Market Include:
1. Executive Summary
2. Report Structure
3. Foundries Market Characteristics
4. Foundries Market Product Analysis
5. Foundries Market Supply Chain
……
16. Eastern Europe Foundries Market
17. North America Foundries Market
18. South America Foundries Market
19. Middle East Foundries Market
20. Africa Foundries Market
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Foundries Market Characteristics:
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