August 01, 2024 11:09 ET | Source: SNS Insider pvt ltd SNS Insider pvt ltd
Pune, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Aluminum Die Casting Machines Market Growth Analysis: factory direct sales
“According to SNS Insider Research, The Aluminum Die Casting Machines Market size was valued at US$ 1.162 Billion in 2023, and is estimated to reach US$ 1.947 Billion by 2032 with a growing CAGR of 5.9% over the forecast period 2024-2032.”
The Aluminum Die Casting Machines Market is substantiated by the increased demand for lightweight and high-strength components, primarily in the automotive and aerospace sectors. The industrial process has considerable advantages, rendering both manufacturing severity and surface finish outstanding, and enabling die casting to become the best option for the production of vital components of relatively complex shapes, which are used widely in the aforementioned industries. Noteworthy is the fact that the automotive sector is particularly important in terms of market growth as OEMs are increasingly using Aluminum to improve fuel efficiency and reduce the weight of vehicles. Not only market growth but also advances in technology are driven by emission regulations that are resulting in reduced vehicle weights along with improved fuel economies. With high-pressure die casting being the leading segment, technological innovations such as the high-pressure die-casting process and the semi-solid metal casting process are improving the production process as well as determining new application areas. All in all, the shift towards high-pressure die casting and new facilities such as oxygen-fuelled die casting deliver important technical and financial benefits, such as enhanced mechanical and physical features of the cast material and cost efficiency.
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Major Players Analysis Listed in this report are:
Aluminum Die Casting Machines Market Report Scope:
By Type: The market is dominated by the high-pressure die casting with a market share of over 42% in 2023. This type is preferred by many due to its ability to create intricate shapes with high precision and great surface finish. This method is used in automotive, aerospace, and the consumer electronics sector due to its high efficiency and productivity rate.
By End-User: The automotive segment will continue to dominate the market with a share of over 30% in 2023 and for the forecast period. The automotive industry is in high demand for lightweight, superior strength parts for the assembly of vehicles. This method is best for producing engine blocks, transmission housings, and wheels.
By Customer: The OEM segment will dominate the market by over 62% share by 2023. The need among the OEMs to have machines optimized and tailored for their particular production requirements will be leading to the high adoption of the Aluminum die casting machines. Moreover, for the OEMs the precision, durability and efficiency and paramount leading to the domination of the segment.
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Aluminum Die Casting Machines Market Key Segmentation:
The Asia-Pacific region is the largest in 2023. This is due to the rapid growing automotive industry and the heavy investments being made by the sectors for mechanical and manufacturing equipment. Asia-Pacific countries are witnessing an explosion in automotive numbers and production numbers, increasing the demand for Aluminum die casting machines. The governments and industries in the region are investing heavily in infrastructure and development, fueling the market in the region.
The future of the Aluminum Die Casting Machines Market is anticipated to thrive, owing to the continuous innovation in casting technology and growing necessity in key industries. The automotive will dominate the market due to this sector’s shift to lightweight material to enhance fuel economy and meet the capability of regulatory standards. Furthermore, the aerospace industry demand for integrated structures, which necessitates fabrication of high-strength components, will drive the market. Similarly, emerging technologies like semi-solid metal casting and developments in die casting will create additional space for market expansion. The market will benefit from the increasing affordability and sustainability offered by Aluminum.
In April, 2022: Yoshiaki Murakami Fun filed a hostile bid for the Toshiba Machine in January, 2020, as the government calls for reforms in the corporate governance. This is to increase the accountability of the management to the investors.
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Table of Contents – Major Key Points
7. Aluminum Die Casting Machines Market Segmentation, By Type
8. Aluminum Die Casting Machines Market Segmentation, By End Use
9. Aluminum Die Casting Machines Market Segmentation, By Customer
13. Use Case and Best Practices
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