Complex and intricate automobile parts rely heavily on automotive die casting for better quality products. The global automotive parts die casting market is gaining strong winds and is expected to register 7% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) in their latest report on the market discusses possibilities that could impact the coming years.
The automotive parts die casting market is enjoying tailwinds from rising disposable income which is spurring the demand for car intakes. This process is known for its precision. At the same time, energy saving and eco-friendly ways of manufacturing are providing momentum to the market.
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MRFR in their latest report on the automotive parts die casting market included a detailed study based on a fitting segmentation. The segmentation includes production process, raw materials, application type, and vehicle type.
Based on the production process, the automotive parts die casting market can be segmented into pressure die-casting, vacuum die-casting, squeeze die-casting, and semi-solid die-casting. The pressure die casting segment is enjoying much market cognizance due to its simple operational techniques and affordable price for large-scale manufacturing. Such features have helped the segment in dominating maximum market share.
Based on the raw materials, the automotive parts die casting market can be segmented into aluminum, zinc, magnesium, and others. The aluminum segment is having better traction due to its malleability and its weight is proving beneficial in curbing carbon output.
Based on the application type, the automotive parts die casting market can be segmented into body assemblies, engine parts, transmission parts, and others. The die casting process has substantial usage in manufacturing of engine parts and transmission parts. The requirement is triggered by high complexity and intricacy shown by the design and production process.
Based on the vehicle type, the automotive parts die casting market encompasses passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment has substantial market coverage due to a hike in the sale of passenger cars. The growth can be attributed to increased disposable income.
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are regions that have been named in the region-specific analysis of the global automotive parts die casting market.
The APAC market is expected to gain the most from the automotive parts die casting market due to recent setting up of several manufacturing units by global players. At the same time, easy availability of labor which is also cost-effective and quick access to raw materials are important factor to determine the market scenario for the coming years. The automotive industry is witnessing rapid growth due to hike in population and surge in disposable income in the hands of the middle class. Countries such as India and China have impacted the global market by becoming major traction providers.
Europe has made a name as the global automotive hub for research and innovation. The die casting process has significant contribution in manufacturing components to substantiate required intricate design. North America has the highest automobiles and owner ratio owing to which the market is gaining good grounds.
Companies to ensure substantial growth for the global automotive parts die casting market are Endurance Technologies Limited (India), Alcast Company (U.S.), Dynacast, LLC (U.S.), Kinetic Die Casting Company, Inc. (U.S.), Mino Industry USA, Inc. (U.S.), Magic Precision, Inc. (China), Meridian Lightweight Technologies Inc. (England), Rockman Industries (India). Ryobi Die Casting Inc. (U.S.), Gibbs Die Casting Corp (U.S.), and others. MRFR enlisted these companies for a better analysis of the upcoming years of the market. The profiling includes latest developments in terms of deployment of strategies which is to get a comprehensive picture of the evolving trends.
The global automotive parts die casting market is expecting strong support from latest technologies that have been included in the manufacturing procedure such as 3D printing technology and additive manufacturing. Due to the inclusion of 3D technology, the expected cost of the final products are going to go down further and ensure better market expansion scopes.
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List Of Tables
Table 1 Global Automotive Injector Nozzle Market: By Region, 2017-2023
Table 2 North America Automotive Injector Nozzle Market: By Country, 2017-2023
Table 3 Europe Automotive Injector Nozzle Market: By Country, 2017-2023
Table 4 Asia Pacific Automotive Injector Nozzle Market: By Country, 2017-2023
Table 5 RoW Automotive Injector Nozzle Market: By Country, 2017-2023
List Of Figures
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
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