Automotive Parts Die-Casting Market

Key Insights

The Global Automotive Parts Die-Casting Market is valued at USD 46.31 Billion in 2023 and is projected to reach a value of USD 78.1 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 6.8% between 2024 and 2032.

Definition and Overview

Automotive parts die casting is a technique that is used to make parts that need much precision. With the use of extensive equipment it is easy to make parts that have the unusual geometry. This can be enhanced by using alloys in the die casting process, to offer virtually unlimited die cast parts, making die casting the best process to manufacture automotive parts. Various automotive parts that are manufactured using die casting methods include engine parts, mounting brackets and stator, among others.

The Global Automotive Parts Die-Casting Market is segmented based on by Production Process Type, Raw Material, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Automotive Parts Die-Casting in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2023 to 2032.

Global Automotive Parts Die-Casting Market: COVID-19 Impact Analysis

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2023 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Market Insights

The increasing automobile sales have is anticipated to augment the growth of the automotive parts die casting market during the forecast period. This is attributable to the rapid urbanization, rising disposable income of the consumers, regulations associated to fuel efficiency, and improvement in dynamics. Furthermore, increase in global sales of automobiles has also caused a major inclination towards the adoption of personal vehicles which is in turn expected to support the growth of the automotive parts die casting market in the forecast period.

The government initiatives to implement laws and regulations for vehicular emission mandated automobile manufacturers to use advanced technologies to confine high emission levels in vehicles in various countries. Recent guidelines by environmental protection agency (EPA) have induced automotive to source components for manufacturing lightweight vehicles. This in turn is expected to drive the market for automotive parts die casting industry in the country. Furthermore, initiatives taken by national air duct cleaners association (NADCA) towards advancing the technical workforce in the industry of die casting are also supporting the growth of the market.

The major factor which is expected to hamper the growth of the market is variation in raw material prices. The durability of a die is dependent on the temperature of the molten metal and its cycle time. The dies that are used in die casting are generally made out of hardened tool steels since cast iron cannot withstand the high pressures involved, therefore the dies are very expensive, and hence results in high start-up costs.

Market Segmentation

Production Process Type Analysis: Preview

On the basis of Production Process Type, the market is segmented into Pressure Die-casting, Vacuum Die-casting, Squeeze Die-casting, Semi-solid Die-casting. Vacuum Die-casting held the leading share in 2022 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Vacuum Die-casting in emerging economies in Asia Pacific region.

Raw Material Analysis: Preview

Based on Raw Material, the market is segmented into Aluminum, Zinc, Magnesium, Others. Aluminum accounted for the highest market share and is expected to grow at a significant CAGR from 2023 to 2032.

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Regional Analysis Preview

On the basis of region, the Global Automotive Parts Die-Casting Market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held the largest share of the Global Automotive Parts Die-Casting Market in 2022. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is one of the most profitable countries for companies operating in the market.

Competitive Landscape

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the Global Automotive Parts Die-Casting Market are Ningbo Zhenhai Xinxie Machinery, Sibar, NORTHWEST DIE CASTING, Pacific Die Casting, Kinetic Die Casting Company, Dynacast, Ningbo Parison Die Casting, Alu Die Casting, Rockman, GF Automotive, Sandhu Auto Engineers, Wotech, Mino, Ryobi Die Casting, Aisin Auto.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

The Global Automotive Parts Die-Casting Market can be categorized as Type, Application, End-Use Industry, and Region.