India Foundry And Casting Market Size, Share, and Growth Analysis 2025-2033

MARKET OVERVIEW

The India Foundry and Casting Market reached a value of USD 19.80 Billion in 2024. It is projected to grow to USD 51.19 Billion by 2033, exhibiting a CAGR of 11.13% during the forecast period of 2025 to 2033. This growth is driven by infrastructure development, automotive industry expansion, demand for machinery parts, government initiatives like "Make in India," technological advances, and rising exports.

STUDY ASSUMPTION YEARS
➤ Base Year: 2024
➤ Historical Year/Period: 2019-2024
➤ Forecast Year/Period: 2025-2033

INDIA FOUNDRY AND CASTING MARKET KEY TAKEAWAYS
➤ Current Market Size: USD 19.80 Billion in 2024
➤ CAGR: 11.13% during 2025-2033
➤ Forecast Period: 2025-2033
➤ The market is propelled by continuous infrastructure development and expansion of the automotive sector.
➤ Government policies including "Make in India" significantly support market growth.
➤ Technological advancements like automation, simulation tools, and 3D printing boost efficiency and quality.
➤ India produces approximately 12 million MT of castings annually with an expected market value of USD 25 Billion by 2025.
➤ Adoption of Industry 4.0 tools such as data analytics and predictive maintenance is increasing.

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MARKET TRENDS
Indian foundry and casting sector is experiencing rapid technological transformation with automation, simulation tools, and sophisticated robotics enhancing processes. The use of Computer-Aided Design (CAD) and Computer-Aided Manufacturing (CAM) systems improves accuracy and reduces defects. Application of 3D printing technology in pattern and mold production shortens product development times. Advanced melting and molding technologies increase efficiency while minimizing material wastage, leading to superior quality output and competitive positioning in global markets.

With the ongoing Industry 4.0 momentum, Indian foundries are increasingly embracing intelligent manufacturing techniques, incorporating data analytics and predictive maintenance tools. This streamlines production, reduces downtime, and improves operational efficiency. A recent example includes SMG Group's acquisition in July 2024 of Hunter Foundry Machinery Corporation, a global leader in matchplate moulding machines and sand casting technology. These trends underline the sector's technological evolution towards more automated, efficient, and innovative manufacturing methods.

The market benefits from growing infrastructure and automotive sectors, which are fundamental growth drivers. Expansion in vehicle production, driven by consumer demand and electric vehicle adoption, increases the need for high-quality castings like engine blocks and brake components. Infrastructure projects, including highways, railways, airports, and housing, stimulated by programs like the National Infrastructure Pipeline (NIP) and Pradhan Mantri Awas Yojana (PMAY), fuel demand for structural and machinery castings. This has sustained growth opportunities especially in iron, steel, and non-ferrous castings, with the automotive sector's shift towards lighter, fuel-efficient vehicles supported by Lost Foam Casting technology.

MARKET GROWTH FACTORS
Government initiatives such as "Make in India" and infrastructure development projects play a pivotal role in market expansion. The government's push for heavy industrial growth and investment in renewable energy projects boosts demand for metal castings and foundry products. This attracts investments and encourages technological adoption in manufacturing units, expanding production capacity and market penetration.

The automotive industry's growth is a significant market driver, with increased vehicle production and the shift towards electric vehicles (EVs). Automotive manufacturers demand quality cast components including engine blocks, transmission housings, and brake parts. The market is projected to reach USD 25 Billion by 2025 primarily due to automotive and construction sector demand, emphasizing the sector's importance in India's industrial landscape.

Industrialization and urbanization contribute markedly to the foundry and casting market. Expansion of urban infrastructure and machinery parts requirements lead to increased foundry production. Investment in construction, housing, and transportation sectors supported by government programs ensures steady growth. Additionally, export growth enhances competitiveness and market size, as Indian foundries increase their presence in global markets by leveraging advanced manufacturing technologies and consistent quality improvements.

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MARKET SEGMENTATION

Casting Type Insights:
➤ Gray Iron Castings: Includes traditional iron castings used widely in various industries.
➤ Ductile Iron (SG Iron) Castings: Features ductile characteristics suitable for automotive and infrastructure applications.
➤ Steel Castings: Steel-based products catering to heavy industry and machinery.
➤ Non-Ferrous Castings: Comprises castings made from metals other than iron and steel.
➤ Others: Covers any additional casting types outside the main categories.
Manufacturing Process Insights:
➤ Sand Casting: A traditional process using sand molds to create metal parts.
Investment Casting: A precision casting process for complex shapes and fine details.
➤ Die Casting: Involves forcing molten metal into molds under high pressure.
➤ Centrifugal Casting: Uses centrifugal force to produce cylindrical casting products.
➤ Others: Encompasses other manufacturing processes not listed above.

End Use Industry Insights:
➤ Automotive: Casting components used in vehicle manufacturing.
➤ Railways: Cast parts for railway infrastructure and rolling stock.
➤ Agriculture and Tractor Industry: Casting products supporting agricultural machinery.
➤ Machine Tools and Engineering: Components for machinery and engineering equipment.
➤ Construction and Infrastructure: Structural and machinery castings for building projects.
➤ Aerospace and Defense: Specialized castings for aerospace and defense applications.
➤Power and Electrical Equipment: Castings used in power generation and electrical devices.
➤ Sanitary and Pipe Fittings: Components used in plumbing and piping sectors.

REGIONAL INSIGHTS

The report segments the market by regions: North India, South India, East India, and West India. However, specific dominant region and exact statistics such as market share or CAGR by region are not provided in the source.
Regional data: Not provided in source.

RECENT DEVELOPMENTS & NEWS

In July 2024, Meson Valves India Limited acquired a majority stake in Milindpra Castings Private Limited for ₹70,330, enhancing its footprint in the metal casting sector. In December 2024, JS Auto Cast Foundry, a Bharat Forge subsidiary, announced an investment of ₹67.5 crore to expand its Perundurai unit in Tamil Nadu. This expansion will increase annual production capacity of grey and SG iron castings by over 60%, from 72,000 tonnes to 116,000 tonnes, strengthening the company's market position and addressing rising casting demand.

KEY PLAYERS
➤ Meson Valves India Limited
➤ Milindpra Castings Private Limited
➤ JS Auto Cast Foundry
➤ Bharat Forge
➤ SMG Group
➤ Hunter Foundry Machinery Corporation

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This release was published on openPR.