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Steel Casting Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 150
  • SKU: IRTNTR45170
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The steel casting market share is expected to increase by 3274.74 thousand million tonnes per annum from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.19%.

This steel casting market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers steel casting market segmentation by application (automotive and transportation, construction and infrastructure, mining, power, and others) and geography (APAC, North America, Europe, the Middle East and Africa, and South America). The steel casting market report also offers information on several market vendors, including ArcelorMittal SA, Columbia Steel Casting Co Inc, Dandong Fuding Engineering Machinery Co. Ltd., Doosan Corp., Ferralloy Inc., Fortune Foundries Pvt. Ltd, Fundiciones Del Estanda SA, Goodwin Steel Castings Ltd., Harrison Steel Castings Co., Hitachi Ltd., Hyundai Steel Co., Isgec Heavy Engineering Ltd., Japan Steel Works M and E Co Ltd, Kobe Steel Ltd., Maynard Steel Casting Co., Milwaukee Precision Casting Inc., Nucor Corp., Peekay Steel Castings Pvt Ltd, SIGMA Engineered Solutions, and Stainless Foundry and Engineering Inc among others.

What will the Steel Casting Market Size be During the Forecast Period?

Steel Casting Market Size

Download Report Sample to Unlock the Steel Casting Market Size for the Forecast Period and Other Important Statistics

 

Steel Casting Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The growing construction activities are notably driving the steel casting market growth, although factors such as environmental concerns related to the casting industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the steel casting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Steel Casting Market Driver

The growing construction activities are one of the key factors driving the steel casting market growth. In Europe, countries such as Portugal, Spain, France, and Germany are leading the residential construction industry. The rising population in these countries is one of the prime reasons for the growth of the construction industry in Europe. Upcoming sports events, such as FIFA World Cup 2022 and World Aquatics Championships in 2023 in Qatar, will drive the use of steel casting products during the forecast period. Thus, the construction industry in emerging markets is expected to witness a higher growth rate than that of the advanced economies, owing to the increase in the number of residential projects due to continuous population growth.

Key Steel Casting Market Trend

The introduction of automation in the die casting process is one of the key steel casting market trends fueling the market growth. Automated robots are now slowly being introduced into casting machines in conjunction with computer numerical control tools that ensure high-quality, reliable, and precisely cast parts. In foundries, robots are mainly used to pour molten metal into die casts and to remove the finished product from the casts. The incorporation of automated robots into the casting system will lead to increased productivity, thereby providing reliable and efficient cast parts to end-user industries. Thus, the adoption of automated casting machinery will rise during the forecast period with the rising demand for enhanced productivity in the automotive sector.

Key Steel Casting Market Challenge

Environmental concerns related to the casting industry are one of the factors limiting the steel casting market growth. The generation of pollutants, dust, and particles and emission of poisonous gases are some of the environmental hazards associated with the casting industry. Governments and casting industry associations have established standards and guidelines to combat pollution by controlling emissions and appropriate disposal of pollutants generated during steel casting. Many environmental regulations, such as Metal Molding and Casting (MMC) effluent guidelines and standards by the US Environmental Protection Agency (EPA), have a notable impact on the operations of steel casting foundries. Such factors will limit the market growth during the forecast period.

This steel casting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global steel casting market as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the steel casting market during the forecast period.

Who are the Major Steel Casting Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ArcelorMittal SA
  • Columbia Steel Casting Co Inc
  • Dandong Fuding Engineering Machinery Co. Ltd.
  • Doosan Corp.
  • Ferralloy Inc.
  • Fortune Foundries Pvt. Ltd
  • Fundiciones Del Estanda SA
  • Goodwin Steel Castings Ltd.
  • Harrison Steel Castings Co.
  • Hitachi Ltd.
  • Hyundai Steel Co.
  • Isgec Heavy Engineering Ltd.
  • Japan Steel Works M and E Co Ltd
  • Kobe Steel Ltd.
  • Maynard Steel Casting Co.
  • Milwaukee Precision Casting Inc.
  • Nucor Corp.
  • Peekay Steel Castings Pvt Ltd
  • SIGMA Engineered Solutions
  • Stainless Foundry and Engineering Inc

 

This statistical study of the steel casting market encompasses successful business strategies deployed by the key vendors. The steel casting market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • hitachi.com - The company offers steel casting products such as Hitachi Vacuum Die Casting-V, the HERCUNITE series, and cast iron.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The steel casting market report contains comprehensive market knowledge, and an in-depth vendor landscape adds to an analysis of the key vendors.

Steel Casting Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the steel casting market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Steel Casting Market?

Steel Casting Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

70% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the steel casting market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The presence of leading automotive manufacturers in countries such as China, India, Japan, and South Korea will facilitate the steel casting market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted the growth of the regional market. However, the removal of lockdowns in several countries in the region, such as India, China, Australia, and Japan, owing to the initiation of large-scale vaccination drives in 2021, resulted in the resumption of operations in steel casting plants, which, in turn, fueled the demand for steel casting products in APAC in 2021 and will continue during the forecast period.

What are the Revenue-generating Application Segments in the Steel Casting Market?

Steel Casting Market Share

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The steel casting market share growth in the automotive and transportation segment will be significant during the forecast period. The aircraft fleet strength is expected to increase by more than 18.64% globally during 2020-2025, which will increase the demand for manufacturing aircraft components and turbine engine parts. Hence, the steel casting market is expected to experience significant growth in the automotive and transportation segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the steel casting market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Steel Casting Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.19%

Market growth 2022-2026

3274.74 th MTPA

Market structure

Fragmented

YoY growth (%)

3.85

Regional analysis

APAC, North America, Europe, the Middle East and Africa, and South America

Performing market contribution

APAC at 70%

Key consumer countries

US, Canada, China, India, Germany, and Italy

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

ArcelorMittal SA, Columbia Steel Casting Co Inc, Dandong Fuding Engineering Machinery Co. Ltd., Doosan Corp., Ferralloy Inc., Fortune Foundries Pvt. Ltd, Fundiciones Del Estanda SA, Goodwin Steel Castings Ltd., Harrison Steel Castings Co., Hitachi Ltd., Hyundai Steel Co., Isgec Heavy Engineering Ltd., Japan Steel Works M and E Co Ltd, Kobe Steel Ltd., Maynard Steel Casting Co., Milwaukee Precision Casting Inc., Nucor Corp., Peekay Steel Castings Pvt Ltd, SIGMA Engineered Solutions, and Stainless Foundry and Engineering Inc

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, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Steel Casting Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive steel casting market growth during the next five years
  • Precise estimation of the steel casting market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the steel casting industry across APAC, North America, Europe, the Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of steel casting market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Automotive and transportation - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Automotive and transportation - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 29: Data Table on Automotive and transportation - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 30: Chart on Automotive and transportation - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Automotive and transportation - Year-over-year growth 2021-2026 (%)
    • 5.4 Construction and infrastructure - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Construction and infrastructure - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 33: Data Table on Construction and infrastructure - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 34: Chart on Construction and infrastructure - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Construction and infrastructure - Year-over-year growth 2021-2026 (%)
    • 5.5 Mining - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Mining - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 37: Data Table on Mining - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 38: Chart on Mining - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Mining - Year-over-year growth 2021-2026 (%)
    • 5.6 Power - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Power - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 41: Data Table on Power - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 42: Chart on Power - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Power - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Others - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Application
      • Exhibit 48: Market opportunity by Application (thousand MTPA)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on North America - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 70: Chart on South America - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 71: Data Table on South America - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 72: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 India - Market size and forecast 2021-2026
      • Exhibit 82: Chart on India - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 83: Data Table on India - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 Italy - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Italy - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 91: Data Table on Italy - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 92: Chart on Italy - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Italy - Year-over-year growth 2021-2026 (%)
    • 7.13 Canada - Market size and forecast 2021-2026
      • Exhibit 94: Chart on Canada - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 95: Data Table on Canada - Market size and forecast 2021-2026 (thousand MTPA)
      • Exhibit 96: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 97: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 98: Market opportunity by geography (thousand MTPA)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 99: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 101: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 102: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 103: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 104: Matrix on vendor position and classification
            • 10.3 ArcelorMittal SA
              • Exhibit 105: ArcelorMittal SA - Overview
              • Exhibit 106: ArcelorMittal SA - Business segments
              • Exhibit 107: ArcelorMittal SA - Key news
              • Exhibit 108: ArcelorMittal SA - Key offerings
              • Exhibit 109: ArcelorMittal SA - Segment focus
            • 10.4 Columbia Steel Casting Co Inc
              • Exhibit 110: Columbia Steel Casting Co Inc - Overview
              • Exhibit 111: Columbia Steel Casting Co Inc - Product / Service
              • Exhibit 112: Columbia Steel Casting Co Inc - Key offerings
            • 10.5 Dandong Fuding Engineering Machinery Co. Ltd.
              • Exhibit 113: Dandong Fuding Engineering Machinery Co. Ltd. - Overview
              • Exhibit 114: Dandong Fuding Engineering Machinery Co. Ltd. - Product / Service
              • Exhibit 115: Dandong Fuding Engineering Machinery Co. Ltd. - Key offerings
            • 10.6 Doosan Corp.
              • Exhibit 116: Doosan Corp. - Overview
              • Exhibit 117: Doosan Corp. - Business segments
              • Exhibit 118: Doosan Corp. - Key news
              • Exhibit 119: Doosan Corp. - Key offerings
              • Exhibit 120: Doosan Corp. - Segment focus
            • 10.7 Hitachi Ltd.
              • Exhibit 121: Hitachi Ltd. - Overview
              • Exhibit 122: Hitachi Ltd. - Business segments
              • Exhibit 123: Hitachi Ltd. - Key news
              • Exhibit 124: Hitachi Ltd. - Key offerings
              • Exhibit 125: Hitachi Ltd. - Segment focus
            • 10.8 Hyundai Steel Co.
              • Exhibit 126: Hyundai Steel Co. - Overview
              • Exhibit 127: Hyundai Steel Co. - Product / Service
              • Exhibit 128: Hyundai Steel Co. - Key offerings
            • 10.9 Isgec Heavy Engineering Ltd.
              • Exhibit 129: Isgec Heavy Engineering Ltd. - Overview
              • Exhibit 130: Isgec Heavy Engineering Ltd. - Business segments
              • Exhibit 131: Isgec Heavy Engineering Ltd. - Key offerings
              • Exhibit 132: Isgec Heavy Engineering Ltd. - Segment focus
            • 10.10 Kobe Steel Ltd.
              • Exhibit 133: Kobe Steel Ltd. - Overview
              • Exhibit 134: Kobe Steel Ltd. - Business segments
              • Exhibit 135: Kobe Steel Ltd. - Key offerings
              • Exhibit 136: Kobe Steel Ltd. - Segment focus
            • 10.11 Nucor Corp.
              • Exhibit 137: Nucor Corp. - Overview
              • Exhibit 138: Nucor Corp. - Business segments
              • Exhibit 139: Nucor Corp. - Key news
              • Exhibit 140: Nucor Corp. - Key offerings
              • Exhibit 141: Nucor Corp. - Segment focus
            • 10.12 SIGMA Engineered Solutions
              • Exhibit 142: SIGMA Engineered Solutions - Overview
              • Exhibit 143: SIGMA Engineered Solutions - Product / Service
              • Exhibit 144: SIGMA Engineered Solutions - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 145: Inclusions checklist
                • Exhibit 146: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 147: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 148: Research methodology
                • Exhibit 149: Validation techniques employed for market sizing
                • Exhibit 150: Information sources
              • 11.5 List of abbreviations
                • Exhibit 151: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Steel Casting market growth will increase by $2906.26 thousand MT during 2019-2024.
              The steel casting market is expected to grow at a CAGR of 4.19% during 2019-2024.
              Technavio has segmented the steel casting market by application (Automotive and transportation, Construction and infrastructure, Mining, Power, and Others) and geographic (APAC, Europe, North America, MEA, and South America).
              ArcelorMittal SA, Berkshire Hathaway Inc., Doosan Corp., Hitachi Ltd., Hyundai Steel Co., Isgec Heavy Engineering Ltd., Kobe Steel Ltd., Nucor Corp., Peekay Steel Castings Pvt. Ltd., The Weir Group Plc are a few of the key vendors in the steel casting market.
              APAC will register the highest growth rate of 70.18% among the other regions. Therefore, the steel casting market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • China
              • US
              • India
              • Germany
              • Mexico
              The key factors driving the steel casting market growth are:
              • Growing construction activities
              The steel casting market vendors should focus on grabbing business opportunities from the automotive and transportation segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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