India Metal Casting Market Anticipated to Reach US$ 21,252 Million during 2024-2032 | IMARC Group

The latest report by IMARC Group, titled "India Metal Casting Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032," the India metal casting market size reached US$ 12,473 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 21,252 Million by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.

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Factors Affecting the Growth of the India Metal Casting Industry:

• Rising Demand from Key Industries:

The growth of India's metal casting market is significantly influenced by the increasing demand from key industries. Over the years, sectors such as automotive, infrastructure, and manufacturing have experienced substantial growth, leading to a surge in demand for metal castings. The automotive industry, in particular, is a major consumer of cast metal components for engines, transmissions, and various other parts. This sustained demand is propelled by factors such as population growth, urbanization, and a rising middle-class consumer base, which drive the need for automobiles and infrastructure development. As these industries continue to expand, the metal casting market in India is poised for steady growth.

• Technological Advancements and Process Efficiency:

The growth of the market can be attributed to the adoption of advanced technologies and process efficiency improvements. Traditional foundries are increasingly embracing modern techniques like computer-aided design (CAD), computer-aided manufacturing (CAM), and 3D printing for pattern-making and mold preparation. These innovations not only enhance the precision and quality of castings but also reduce production time and material wastage. Additionally, the implementation of energy-efficient practices and sustainable foundry processes align with global environmental standards, making Indian metal castings more competitive in the international market. As technology continues to advance, the industry's capacity for growth is expected to expand further.

• Global Expansion and Export Opportunities:

The market is also influenced by its growing presence in the global market and export opportunities. With a robust manufacturing base and competitive pricing, Indian foundries are increasingly looking beyond domestic borders to tap into international markets. Several Indian companies have successfully established themselves as reliable suppliers of metal castings in various countries. The government's "Make in India" initiative and favorable trade agreements have further facilitated this expansion. The diversification of export destinations and a focus on high-value segments like aerospace and defense offer immense growth potential for the Indian metal casting industry. As globalization continues to shape the market, Indian manufacturers are well-positioned to leverage these opportunities for sustained growth.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/india-metal-casting-market

India Metal Casting Market Report Segmentation:

By Process:

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

Sand casting is the largest segment by process because it offers a cost-effective and versatile method for producing a wide variety of intricate metal components, making it a preferred choice for manufacturers across different industries.

By Material:

• Cast Iron
• Aluminum
• Steel
• Zinc
• Magnesium
• Others

Cast iron represents the largest segment by material in the Indian metal casting market, mainly because of its durability, heat resistance, and suitability for various applications.

By End-use:

• Automotive and Transportation
• Equipment and Machine
• Building and Construction
• Aerospace and Military
• Others

Automotive and transportation is the largest segment in the metal casting market in India by end-use, reflecting the significant demand for metal components in this industry.

By Component:

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

Alloy wheels are the largest segment by component in the Indian metal casting market, with the increasing popularity of alloy wheels for their lightweight and stylish attributes.

By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

The passenger car category holds the largest market share by vehicle type in India's metal casting industry, owing to the substantial production and demand for passenger vehicles.

By Electric and Hybrid type:

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

Hybrid electric vehicles represent the largest segment among electric and hybrid vehicle types, reflecting the growing interest in eco-friendly transportation options in India.

By Application:

• Body Assemblies
• Engine Parts
• Transmission Parts
• Others

The body assemblies represent the largest segment by application due to the extensive use of metal castings in the construction of vehicle bodies.

By Region:

• North India
• West and Central India
• South India
• East India

Based on the region, the market has been divided into North India, West and Central India, South India, and East India.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

India Metal Casting Market Trends:

The market is primarily driven by the increasing demand for customized and specialized castings. Industries such as aerospace, healthcare, and renewable energy are seeking tailored solutions that meet their unique requirements. Additionally, the emerging trend has prompted foundries to invest in specialized equipment and expertise to deliver high-precision castings with intricate designs and specific material properties.

Moreover, environmental sustainability has become a significant focus in the metal casting industries which is adopting eco-friendly practices such as using recycled materials, reducing energy consumption, and implementing efficient waste management systems. Besides this, rapid digitalization is on the rise in Indian metal casting which is propelling the market growth.

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