Automotive Metal Die Casting Market Size

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.