Die Casting Machines Market Segmentation:
Raw Material Segment Analysis
The aluminum segment in the die casting machines market is projected to capture the highest share of about 55% by 2035. Automobile manufacturers are increasingly using die casting machinery for manufacturing aluminum components and parts instead of iron and steel since it is significantly lighter than steel and has several additional benefits, such as ductility over other materials. In the market for raw materials, aluminum has a strong advantage. Additionally, with the growing demand for electric vehicle this segment is also set to experience growth since this material offers great conductivity to the EV. 2022 started off strong, shattering previous records. Sales of electric vehicles (EVs) surpassed approximately 9 million, accounting for about 13% of all new automobiles sold. This represents a significant increase from over 8% in 2021.
Machine Type Segment Analysis
Die casting machines market from the hot chamber die casting segment is projected to generate the highest share of over 60% during the forecast period. This is due to benefits such as faster-cycling manufacturing, intricate cast-in detail, decreased porosity, and longer die-casting life due to lower melting points and die design efficiencies. Both zinc and magnesium are produced using the hot chamber die casting technique. These materials are considered to be the best option for electronic items such as medical devices which further include X-ray machines, and more.
Our in-depth analysis of the global die casting machines market includes the following segments:
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