Enjoy complimentary customisation on priority with our Enterprise License!
The aluminum die casting market size is estimated to grow at a CAGR of 7.61% between 2022 and 2027 with the market size forecast to increase by USD 36.59 billion.
This aluminum die casting market report extensively covers market segmentation by Application, Type, and Geography. The Application segment is classified into automotive, heavy machinery and industrial, aerospace and defense, construction, and others. The Type segment is divided into pressure die casting, gravity die casting, and others. The Geography segment includes key regions such as APAC, Europe, North America, Middle East and Africa, and South America. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The growth of the market depends on several factors such as the growing use of aluminum die casting in the automotive industry, rising urbanization and infrastructure development, and rising renewable energy initiatives.
To learn more about this report, Request Free Sample
Aluminum die casting is a metal casting process that involves injecting molten aluminum alloy into a mold, also known as a die, under high pressure. This process allows for the creation of intricate and detailed parts with high precision. Aluminum die casting is widely used across industries due to its ability to produce lightweight yet strong and durable components.
The automotive segment is estimated to witness significant growth during the forecast period. Currently, nearly 30-35% of automotive components are made of aluminum alloys, mainly developed using high-pressure die-casting processes. Demand for aluminum parts produced utilizing high-pressure die casting has grown in many industrial applications in recent years, as the process allows for the production of lightweight parts and offers high flexibility.
Get a glance at the market contribution of various segments View the PDF Sample
The automotive segment was the largest segment and was valued at USD 35.26 billion in 2017. Furthermore, increasing activities to replace iron and steel with aluminum in the auto industry and increasing investments in the auto and infrastructure sectors are expected to further boost market growth. Global aluminum die casting market growth is expected to improve during the forecast period to meet the growing demand for lightweight parts and high-conductivity metal parts from both the automotive and non-automotive sectors.
APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
Growing demand for lightweight and high-strength castings is driving market growth in the region. In addition, the region is characterized by a source of cheap skilled labor, making it the most profitable region for various industrial manufacturers, such as automobiles, to establish manufacturing facilities. Additionally, the shift in the global manufacturing landscape towards South Asian countries is expected to have a positive impact on market growth during the forecast period.
Rising renewable energy initiatives is the key factor driving the growth of the market. Aluminum die casting is used to produce parts such as covers, housings, brackets, and structural components in onshore and offshore wind turbines. Aluminum die casting is used to produce structures and mounting frames for solar panels. These components must be lightweight, corrosion-resistant, and able to withstand weather conditions.
Additionally, aluminum's die-cast ability to produce lightweight, durable, and thermally conductive parts makes it a valuable solution to meet the specific needs of renewable energy initiatives. Therefore, increasing renewable energy initiatives will drive the growth of the market during the forecast period.
Rising demand for electric vehicles is the primary trend shaping the growth of the market. In the electric vehicle market, to achieve high range with a given battery size and weight, reducing the weight of the electric vehicle is essential. Therefore, aluminum is the preferred material used in electric vehicles. The growing penetration of electric vehicles globally will continue to drive the aluminum die-casting market in the future.
Furthermore, according to the IEA, sales of electric and hybrid electric vehicles (HEVs) are expected to increase significantly and account for 30% of the global auto market by 2030, compared to 4% of the 86 million vehicles sold in 2019. Hence, the increasing demand for electric vehicles will drive the growth of the global aluminum die casting market during the forecast period.
Increasing the use of advanced steel for automotive body parts is a challenge that affects the growth of the market. Steel is by far the best choice of automakers around the world. To improve passenger safety and vehicle performance, reducing vehicle weight has become a top priority for companies operating in the automotive industry. Advanced high-strength steel (AHSS) is the fastest-growing material in the automotive industry and a key material in reducing the mass of vehicles.
Additionally, the most popular lightweight material that competes with steel is aluminum. The use of aluminum in the automotive industry has increased slightly. However, car body structures made from aluminum cost 60-80% more than car body structures made from steel. Therefore, the higher cost and lower durability of aluminum compared to advanced steels such as AHSS will impede the growth of the global aluminum casting market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alcast Technologies Ltd.: The company offers aluminum die casting solutions such as Automated Flaskless Moulding, Squeezer Moulding, and Air Set Moulding.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Aludyne Inc., Amsted Industries Inc., Buhler AG, BUVO Castings BV, Chicago White Metal Casting Inc., Dynacast, Endurance Technologies Ltd., Georg Fischer Ltd., Gibbs, IBEX ENGINEERING PVT. LTD., Madison Kipp Corp., Martinrea Honsel Germany GmbH, Phb Inc., Ryobi Ltd., Sandhar Technologies Ltd., Sundaram Clayton Ltd., Sunrise Metal, Toyota Motor Corp., and Walbro LLC
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aluminum Die Casting Market Customer Landscape
Aluminum Die Casting Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.61% |
Market growth 2023-2027 |
USD 36.59 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.79 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 52% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alcast Technologies Ltd., Aludyne Inc., Amsted Industries Inc., Buhler AG, BUVO Castings BV, Chicago White Metal Casting Inc., Dynacast, Endurance Technologies Ltd., Georg Fischer Ltd., Gibbs, IBEX ENGINEERING PVT. LTD., Madison Kipp Corp., Martinrea Honsel Germany GmbH, Phb Inc., Ryobi Ltd., Sandhar Technologies Ltd., Sundaram Clayton Ltd., Sunrise Metal, Toyota Motor Corp., and Walbro LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.