Automotive Metal Die Casting Market size was over USD 43.12 billion in 2023 and is projected to exceed USD 110.41 billion by 2036, witnessing over 7.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of automotive metal die casting is evaluated at USD 45.71 billion. The growth of the market can be attributed to the factors such as, the convenient recycling of the die casting components, rising demand for lightweight parts for the vehicles, increasing adoption of fuel-efficient vehicles, and spreading awareness of carbon footprints prevention from the automobile manufacturing process, and others. Moreover, the global automotive industry is anticipated to grow during the forecast period with the production of about 90 million light vehicles worldwide. Furthermore, automotive die casting includes metal casting that is to force metals under high pressure to shape them accordingly. Additionally, the requirement to stop carbon emissions owing to vehicles is also anticipated to boost the growth of the automotive metal die casting market during the forecast period. As per a report by the United States Environmental Protection Agency in 2018, it can be stated that approximately 4.6 metric tons of carbon dioxide are emitted by a typical passenger vehicle annually. Therefore, new upgrade in vehicles to prevent carbon emission is emerging. All these factors are estimated to influence the growth of the market positively over the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
7.5% |
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Base Year Market Size (2023) |
USD 43.12 billion |
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Forecast Year Market Size (2036) |
USD 110.41 billion |
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Regional Scope |
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The market is segmented by metal into aluminum, magnesium, zinc, and others, out of which, the aluminum segment is anticipated to hold the notable share in the global automotive metal die casting market on account of its requisite properties, such as, durability, inexpensive, adaptability, lightweight, surface finishing possibilities, and others. Aluminum is highly utilized to make significant parts of automobiles and this procedure is called aluminum die casting.
Our in-depth analysis of the global market includes the following segments:
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By Metal |
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By Procedure |
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By Application |
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Regionally, the global automotive metal die casting market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Asia Pacific industry is anticipated to hold largest revenue share by 2036, propelled by higher demand for die casting components and growing automotive industry in the region. Additionally, automotive die casting provides higher freedom in designing the parts and enhances fuel efficiency. For instance, in 2020, about 8 million vehicles were sold in the Asia Pacific. Furthermore, China is estimated to become the leading country in the Asia Pacific over the forecast period. In 2021, approximately 20 million passenger cars were manufactured solely in China while in 2019, the country generated about 20 million sales in the car market.
Furthermore, the global automotive metal die casting market is also projected to witness a modest growth in the North America region. The growth of the market in North America is ascribed to factors including growing initiatives to reduce CO2 emissions and the rising automotive industry.
July 2, 2021: Koch Air, which is a Koch Enterprises, Inc. subsidiary announced the complete acquisition of Lathrop Trotter, a company that facilitates niche-based products, such as combined heat and power system.
Author Credits: Dhruv Bhatia
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