Sarasota, FL, Dec. 20, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Automotive Part Die Casting Market (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting and Semi-Solid Die Casting) by Raw Material (Aluminum, Zinc, Magnesium and Others) Market for Body Assemblies, Engine Parts, Transmission Parts and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021” . According to the report, global demand for automotive part die casting market was valued at around USD 7.54 billion in 2015 and is expected to reach approximately USD 11.86 billion in 2021, growing at a CAGR of slightly above 7.8% between 2016 and 2021.
The growth of automotive part die casting market is mainly attributed to increasing demand for lightweight automobiles coupled with rapidly growing automotive industry across the globe. In addition, energy saving trend, favorable government initiative, and industry regulations, various initiative by EPA to raise the mile per gallons standards from 35.5 miles per gallon (mpg) till 2016 and 54.5 mpg by 2025 have opened up alluring opportunities for automotive part die casting industry. Initiatives by NADCA to improve the technical workforce and NADCA’s work with several community colleges in the U.S. to create a die-casting farm system is expected to improve the performance of the whole die casting market.
Browse through 18 Market Tables and 28 Figures spread over 110 Pages and in-depth TOC on “Global Automotive Part Die Casting Market: Type, Material, Application, Size, Share, Growth, Trends, Analysis, Segment and Forecast 2015-2021”.
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Pressure die casting and vacuum die casting are major process types involved in the die casting market. In 2015, vacuum die casting process is expected to attain acceptance at a faster pace, due to minimal porosity and tensile strength of the end product from the process. Pressure die casting segment is also expected to achieve significant growth in coming years.
The shift towards lightening and easy customization of the part in the automotive industry spiked up the use of aluminum for die casting parts. Technological advancement such as new magnesium thixomolding, a type of semi-solid metal casting by Proto Labs is expected to show tremendous growth for magnesium as a raw material.
Browse the full " Automotive Part Die Casting Market (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting and Semi-Solid Die Casting) by Raw Material (Aluminum, Zinc, Magnesium and Others) Market for Body Assemblies, Engine Parts, Transmission Parts and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021 " report at https://www.zionmarketresearch.com/report/aut...ing-market
Body assemblies and engine parts emerged as leading application segments of automotive part die casting market in 2015. Increasing automotive production is expected to contribute the growth of both application segments in coming years.
North America has the largest market and accounted for more than 31% of the global market share in 2015. The growth is mainly attributed to the large-scale domestic production, government initiatives and availability of resources. An earlier move by EPA of raising the mile per gallons standards to 35.5 miles per gallon by 2016 and then 54.5 mpg by 2025 is expected to spur the demand for light vehicles in coming years. Rockwell automation, California Die Casting Incorporated, Briggs & Stratton Corp., Dynacast Incorporated and Auto Cast Incorporated are some major players expected to contribute to the growth in this region.
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North America was closely followed by Asia pacific in 2015. Increasing automotive industries along with the initiative by the EPA, OSHA and NADCA is expected to boost the demand for automotive part die casting market in coming years. Demand for light vehicles, the presence of strong growing economies like China and India, the focus on the industrial sector for collaborating with die-casting manufacturers to produce the lightweight component for their machinery is expected to propel the growth of automotive die casting industry in coming years. Due to low-density metal coupled with the presence of a large amount of reserve make magnesium die casting as an ideal raw material for die casting and expected to show significant growth in the region.
European automotive industry is well known for its technically advanced and innovative automotives. Demand for light weight vehicles, the presence of major international players, the government initiative for reduction of fuel consumption and CO2 emission, move by EPA are the major supporting factors expected to stimulate the growth of the market in the year to come.
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The developing economies in Latin America also have a potential market for the growth of the automotive part die casting market. Rising demand for light vehicles coupled with overall cost reduction as far as energy is concerned is the key growth factors expected to contribute to the growth of the automotive part die casting market in Latin America. Brazil, Chile, and Peru are expected to be the key contributing countries for the growth of the market.
The Middle East and Africa is expected to be one of the fastest growing regional markets for automotive part die casting in the coming years. U.A.E and Saudi Arabia is expected to be the most lucrative market for automotive part die casting in the Middle East. Rising preference of middle-eastern countries and Sub-Saharan Africa by multinational companies to source components and assemble vehicles for the local and international markets is predicted to favor the market growth in this region.
Major participants in the automotive part die casting space include Texas Die Casting, Consolidated Metco, Endurance Group, Rockman Industries Inc., Ryobi Die-casting Inc., Alcast Technologies, Dynacast and Alcoa Howmet amongst others.
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These report segments of global automotive part die casting market are as follows:
Global Automotive Part Die Casting Market: Type Segment Analysis
- Pressure Die Casting
- Vacuum Die Casting
- Squeeze Die Casting
- Semi-Solid Die Casting
Global Automotive Part Die Casting Market: Raw Material Segment Analysis
- Aluminum
- Zinc
- Magnesium
- Others
Global Automotive Part Die Casting Market: Application Segment Analysis
- Body Assemblies
- Engine Parts
- Transmission Parts
- Others
Global Automotive Part Die Casting Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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