Press release
Key Factors and Emerging Trends Shaping the Process Plants Gas Turbine Market Landscape
Process Plants Gas Turbine Market
Projected Growth and Market Size of the Process Plants Gas Turbine Market
The process plants gas turbine market is anticipated to grow steadily, reaching a value of $3.28 billion by 2030. This represents a compound annual growth rate (CAGR) of 6.9% over the forecast period. The market's growth is propelled by factors such as wider adoption of low-emission turbine technologies, increased investments aimed at boosting industrial energy efficiency, expansion of hybrid power generation systems, a greater reliance on digital predictive maintenance tools, and heightened attention on fuel flexibility. Key trends driving this expansion include the deployment of highly efficient combined cycle turbines, the implementation of digital turbine monitoring systems, growing demand for fuel-flexible gas turbines, the rise of modular gas turbine installations, and a stronger focus on enhancing operational reliability.
Download a free sample of the process plants gas turbine market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=29156&type=smp&utm_source=OpenPR&utm_medium=Paid&utm_campaign=Feb_PR
Prominent Players Influencing the Magnesium Automotive Parts Market
The market is characterized by the presence of several leading companies, such as Georg Fischer AG, Linamar Corporation, Nemak S.A.B. de C.V., Rheinmetall AG, Handtmann Metallgusswerk GmbH, Spartan Light Metal Products Inc., Pace Industries Inc., Dynacast International Inc., Meridian Lightweight Technologies Inc., Ryobi Limited, Endurance Technologies Limited, Rockman Industries Limited, Sandhar Technologies Limited, Mag Specialties Inc., Chicago White Metal Casting Inc., Twin City Die Casting Company, MRT Castings Limited, Zhejiang Wanfeng Auto Wheel Co. Ltd., Zibo Deyuan Metal Materials Co. Ltd., Kobe Steel Ltd., Minda Corporation Limited, and Harrison Castings Limited.
In a notable development, Teknia Manufacturing Group SLU, a Spain-based manufacturer, acquired Svensk Tryckgjutning AB (STG) in April 2023 for an undisclosed sum. This acquisition strengthens Teknia's capabilities in aluminium and magnesium injection moulding, crucial for producing lightweight, high-precision components aimed at electric vehicles. It also broadens Teknia's production footprint, enhances its expertise in multi-material manufacturing, and positions the company as a leader in the evolving mobility sector. Svensk Tryckgjutning AB, based in Sweden, specializes specifically in magnesium automotive parts manufacturing.
Key Drivers Accelerating Growth in the Magnesium Automotive Parts Sector
One of the main growth drivers in this market is the rising demand for lightweight materials that can improve vehicle efficiency and reduce emissions. Magnesium alloys, known for their exceptional strength-to-weight ratio, are increasingly favored by automotive manufacturers for their role in enhancing fuel economy and meeting stringent environmental regulations.
Additionally, the push towards electric and hybrid vehicles is accelerating the adoption of magnesium parts, as these vehicles benefit immensely from weight reduction strategies to extend battery life and driving range. Investments in recycling technologies further support sustainable manufacturing, making magnesium a key material choice for the future of automotive production.
View the full magnesium automotive parts market report:
https://www.thebusinessresearchcompany.com/report/magnesium-automotive-parts-global-market-report?utm_source=OpenPR&utm_medium=Paid&utm_campaign=Feb_PR
Innovative Manufacturing Techniques Boosting Market Expansion
Industry leaders are turning to advanced manufacturing methods like semi-solid processing to improve the performance and sustainability of magnesium parts. This technique involves shaping metal alloys in a state that is partly solid and partly liquid, which enhances flowability, casting quality, mechanical strength, and energy efficiency during production.
For example, in December 2024, SAIC Motor Corp. Ltd. introduced its second-generation magnesium alloy case for electric drive assemblies-recognized as the world's first mass-produced magnesium alloy case created using semi-solid processing. This innovation reduces component weight significantly while boosting strength, ductility, and corrosion resistance. It also facilitates the large-scale use of magnesium in new energy vehicles, supporting lightweight, energy-efficient mobility solutions. Moreover, this technology eliminates the need for protective gases and lowers energy consumption, aligning well with global sustainable manufacturing goals.
Segment Breakdown of the Magnesium Automotive Parts Market
The market is segmented into several categories to provide a detailed understanding of its structure:
1) By Type: Die-Cast Magnesium Parts and Extruded Magnesium Components
2) By Manufacturing Process: Cold Chamber Die Casting and Hot Chamber Die Casting
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Electric Vehicles, and SUVs and Crossovers
4) By Application: Structural Components and Interior and Exterior Trim
5) By End-User Industry: Original Equipment Manufacturers (OEMs) and Product Manufacturers
Further subdivisions include:
- Die-Cast Magnesium Parts such as Gearbox Housings, Steering Components, Electronic Housings, and Cooling System Components
- Extruded Magnesium Components including Structural Reinforcement Beams, Crash Management Components, Battery Enclosure Frames and Supports, Interior Structural Frames, and Thermal Management Profiles
This detailed segmentation highlights the diverse applications and manufacturing processes that are contributing to the rapid growth and innovation within the magnesium automotive parts market.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Key Factors and Emerging Trends Shaping the Process Plants Gas Turbine Market Landscape here
News-ID: 4405525 • Views: …
More Releases from The Business Research Company
Market Trend Analysis: The Impact of Recent Innovations on the Roll Slitting Mac …
The roll slitting machine market is positioned for consistent growth as industries continue to demand more efficient and precise slitting solutions. With evolving needs across packaging, manufacturing, and specialized applications, this market is set to expand significantly over the coming years. Let's explore the market's size projections, key players, emerging trends, and segmentation details to understand the outlook better.
Projected Growth of the Roll Slitting Machine Market by 2030
The roll…
Polyurethane Processing Machine Market Overview, Key Trends, and Top Player Anal …
The polyurethane processing machine industry is positioned for stable growth as demand for advanced manufacturing technologies rises globally. Innovations and expanding applications in sectors like construction and automotive are expected to drive steady market development through 2030. Below, we explore the market size, key players, trends, and segment details shaping this evolving industry.
Projected Market Value and Growth Outlook for the Polyurethane Processing Machine Market
The market for polyurethane processing machines…
Key Players and Competitive Overview in the Robotic Steel Beam Welding Market
The robotic steel beam welding industry is on the brink of significant expansion as technology and demand converge to reshape the market landscape. With increasing infrastructure developments and advances in automation, this sector is set for substantial growth, promising new opportunities and innovations in the years ahead. Let's delve into the market size projections, key players, influential trends, and main product segments defining this evolving field.
Projected Growth and Market Size…
Leading Industry Participants Consolidating Their Presence in the Pneumatic Angl …
The pneumatic angled finish nailer market is on track for impressive growth over the coming years, driven by several industry factors and evolving customer demands. This report explores the market's projected expansion, key players, emerging trends, and segmentation to provide a clear understanding of the current landscape and future outlook.
Market Size and Growth Trajectory of the Pneumatic Angled Finish Nailer Market
The pneumatic angled finish nailer market is anticipated to…
More Releases for Mag
Anti-MAG Peripheral Neuropathy Treatment Market - Industry Trends and Forecast
The global anti-MAG peripheral neuropathy treatment market is projected to witness significant growth during the forecast period. Increase in the demand from developing economies will uplift the market growth, also rise in the prevalence of the disease, increase in the R&D activities in the market and rise in the consumption of junk food which causes weak immunity in the population acts as some of the major factors among others driving…
MAG Welding Robots Market Analysis and Future Prospects for 2030
The world of the mag welding robots market is a complex and ever-evolving landscape, shaped by consumer demands and technological advancements. In this report, we delve into the depths of this market to provide a profound and comprehensive analysis, catering to a diverse audience that includes manufacturers, suppliers, distributors, and investors. Our primary goal is to empower industry stakeholders with invaluable insights to make informed decisions in a rapidly changing…
Child Safety Lock Market | Dreambaby, KidCo, Lindam, Mag Security
The global child safety lock market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the child safety lock market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth…
Tabletop Centrifuge Market | Centruion, Digisystemlab, EKF Diagnostics, Elektro- …
The global tabletop centrifuge market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the tabletop centrifuge market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
US Transcranial Magnetic Stimulator (TMS) Market Competition by Company, Country …
The Transcranial Magnetic Stimulator (TMS) market was valued at US$ 309.53 million in 2020 and is projected to reach US$ 631.29 million by 2028; it is expected to grow at a CAGR of 9.4% from 2021 to 2028.
The major factors such as the growing prevalence of neurological disorders, increasing geriatric population and neurological disorders associated with age, and presence of well-established healthcare facilities drive the growth of the transcranial magnetic…
MAG IAS GmbH – new ownership structure and credit facility
- Mo Meidar transfers shares of parent company MAG Europe GmbH to trust entities
- Transfer opens up possibility for new investor to step in and strengthen the operational business
- Credit facilities adapted to support current growth, management and financial partners working on long-term financing agreements
Göppingen, November 24, 2011 – The shares of MAG Europe GmbH, parent company of MAG IAS GmbH, have been transferred to German trust entities. The new…
