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(I-AutoNewsWire.com, September 26, 2017 ) Over the past five years, the global casting market has witnessed a slow-paced growth of less than 4%, with 2015 registering just a 0.5% increase in sales by volume (in metric ton). Although the market is experiencing a slump, it is still in a growth phase, and the growth rate is expected to increase, owing to the increasing adoption of aluminum in vehicles, by most of the automakers. The primary reason for this adoption is the tightening of emission norms across the globe, as decreasing the weight of cars is being considered as an effective measure to reduce emissions, and aluminum leads the race of lightweight materials for weight reduction. Aluminum in cars weighs as much as 150 kg on an average, with Smartfortwo comprising of the least value of 62 kg and Range Rover being at the highest value of 610 kg. Magnesium, aluminum’s closest competitor, is also being adopted, albeit in high-end vehicles. Therefore, among alternative non-ferrous metals, aluminum occupies the lion’s share.
A few intriguing questions about the industry answered in the report are -
• What are the growth prospects of the global die casting industry?
• How will the emergence of electric vehicles effect the die casting market?
• In the near future will die casting be downtrodden by metalworking?
• How much will aluminum’s share be, in a car made in 2025?
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Asia-Pacific is the largest market for the die cast components in the world, with China and India, which occupy more than 50% share by volume, being the leading countries. The die casting market is highly fragmented, with many small scale companies contributing to more than 50% of the share. Only a few companies, such as, Nemak, KSPG, George Fischer, etc., have worldwide presence. Local die casters cater to a major chunk of the market. Although the booming electric vehicle sales and other manufacturing processes, like metalworking, pose a threat to the industry, these restraints can be overcome by rigorous expansion of the product portfolio and increased production rate. The expansion of product portfolio hints at die casters becoming OEM suppliers to EV manufacturers, and despite the production rate of die cast components being higher than the gap (between die cast and metalworked components), it is supposed to become almost unreachable.
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Objectives of the Study -
1. To provide detailed analysis of the market structure, along with forecast of the various segments and sub-segments of the global die casting market.
2. To provide insights about factors affecting the market’s growth. To analyze the global die casting market based on various factors, including price, supply chain, Porter’s five force analysis, etc.
3. To provide geography-wise revenues of the segments and sub-segments with respect to the following regions - North America, Europe, Asia-Pacific, and Rest of the World.
4. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
5. To track and analyze competitive developments, such as, joint ventures, strategic alliances, mergers & acquisitions, new product developments, and R&D initiatives in the global die casting market.
About Mordor Intelligence
Mordor Intelligence is a market intelligence and business advisory firm. The company operates in the business of industry analysis & consulting, in over 16 verticals. In today’s fast-paced and competitive business environment, every customer has unique information requirements. Having understood this, Mordor offers custom market intelligence and advisory services along with syndicated reports, to help them gain an edge over the competition. The company has successfully catered to over 500 (40% of fortune 500) clients since 2013.
Mordor Intelligence
Sakshi Seth
7860584254
sakshi.s@mordorintelligence.com
Source: EmailWire.Com
Source: EmailWire.com
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