Die Casting Machines Market Size to Gain Traction of $4.9 Billion, Growth Opportunities by 2030

According to a new report published by Allied Market Research, titled, "Die Casting Machines Market" size was $2.7 billion in 2020, and is estimated to reach $4.9 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030.

The analysis of the market encompasses various applications within industrial sectors, including transportation, mechanical and manufacturing equipment, building and construction, among others. The primary drivers of the market include the expansion of the global manufacturing industry and increased investments in the automotive, electronics, and defense sectors. However, the market growth may face constraints due to the volatility of raw materials.

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In 2020, the Asia-Pacific region emerged as the dominant force in the global die casting machines market, contributing to approximately half of the industry's revenue share. The Asia-Pacific market is experiencing robust growth at a high Compound Annual Growth Rate (CAGR), driven by the burgeoning manufacturing and automotive industries in emerging economies.

The escalating demand for automobiles, electronic products, and home appliances has led to a significant rise in the utilization of metals and alloys, given their versatile properties. This surge in demand has propelled the growth of the die casting machines market, as these machines efficiently cast metals into desired shapes and sizes.

Moreover, the positive momentum in the construction industry has further bolstered the die casting machines market. Government initiatives and free trade agreements on a global scale have played a crucial role in stimulating manufacturing activities, thereby amplifying the demand for die casting machines.

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The global die casting machines market is segmented on the basis of type, material, end-user, and region.

By type, it is divided into cold chamber die casting machine, hot chamber die casting machine, and gravity die casting machine.

By material, the market is divided into aluminum, zinc, magnesium, and others.

By end-user, it is segmented into transportation, mechanical & manufacturing equipment, building & construction, and others.

Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is projected to experience growth during the forecast period owing to expansion of the automotive sector in the region.

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Top Players:
The key players profiled in the die casting machines report include Agrati AEE Srl, Bühler AG, Form Technologies, L.K. Machinery International Limited, Norican Global A/S, Oskar Frech GmbH + Co. KG, Shibaura Machine Co., Ltd., Toyo Machinery & Metal Co., Ltd., UBE, and Zitai Precision Machinery Co., Ltd.

KEY FINDINGS OF THE STUDY
• The report provides an extensive analysis of the current and emerging die casting machines market trends and dynamics.
• Depending on type, the cold chamber die casting machine dominated the die casting machines market, in terms of revenue in 2020 and the gravity die casting machines segment is projected to grow at a significant CAGR during the forecast period.
• By end user, the transportation segment registered highest revenue in 2020.
• By region, Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the die casting machines market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive the outlook of the die casting machines industry.
• The report provides an extensive analysis of the current trends and emerging die casting machines market opportunities.
• In-depth die casting machines market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.

About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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This release was published on openPR.