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The global aluminum parts gravity die casting market was valued at USD 5,351 in 2020 million and is projected to reach USD 7,413 million by 2026, registering a CAGR of about 4.82% during the forecast period (2021 - 2026)

During the outbreak of coronavirus during 2020, the whole supply chain of automotive industry was impacted very badly. The OEMs struggled to keep their operations going, but as the lockdown and restrictions were lifted the automotive industry regained its momentum and so the aluminum parts gravity die casting market.

New York, April 15, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aluminum Parts Gravity Die Casting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06062867/?utm_source=GNW


The market is largely driven by supply chain complexities in the die casting industry, the expanding automotive market, increasing penetration of die casting parts in industrial machinery, the growing constructional sector, and employing aluminum castings in electrical and electronics sector.

The CAFÉ standards and EPA policies to cut down automobile emissions and increase fuel efficiency are driving the automakers to reduce weight of the automobile by employing lightweight metals. Subsequently, employing die-cast parts as a weight reduction strategy is acting as a major driver for the former market in automotive segment.

Key Market Trends
Stringent EPA Regulations and Cafe Standards Driving Growth

The automobile regulatory frameworks in Europe and North America have been instrumental in creating a sustainable environment in the automobile industry.

The latest regulatory framework, the Euro 6, which was introduced in 2011 and came into effect from September 2014 onward, changed the regulatory standards that have been crucial in determining the dynamics of the automotive market in the region. Since 2013, the EC (European Commission), along with EEA/EMEP, has been maintaining the record of emission performance standard for each new vehicle registered in Europe.

The emission regulations bind the automotive manufacturers together. The freight companies and fleet owners are rapidly moving toward incorporating more technologies that are expected to reduce the average emission rate.

- Thereby, a need to reduce vehicle weight for lowering emission levels has greatly encouraged the employment of die casted parts in the vehicles.
- Automobile manufacturers are always looking for ways to make the vehicle components more efficient, in order to improve fuel efficiency of the vehicle and to reduce carbon emissions. Lightweight construction, using efficient and cost-optimized aluminum die casted parts, plays a key role in achieving this goal. Companies, like Nemak, are focusing on the “lightweight” trend and introducing electric vehicle products (manufactured by using HPDC process) into the automotive industry.

Asia-Pacific Remains the Largest Market

Asia-Pacific is the largest automotive market in the world. China is the world’s leading exporter of aluminum and aluminum products. In 2019, China’s exports of aluminum were valued at USD 26 billion, almost USD 10 billion more than Germany, the second-largest exporter.

China is among the world’s largest suppliers of car parts, exporting motor vehicle parts and accessories worth USD 33.63 billion in 2019. In addition to its low labor costs, China has become known as "the world’s factory" because of its strong business ecosystem, lack of regulatory compliance, low taxes and duties, and competitive currency practices.

In FY2020, the aluminum production in India stood at 3.6MT. India stands as the second-largest foundry industry that produces castings in the world. Foundries in India are capable of producing gravity die casting products that serve a wide range of applications conforming to international standards.

The government’s focus on ‘Make in India’, developing the automotive industry, and the stringent emission norms, is driving the market growth. In FY2019, 6.7 lakh passenger vehicles were exported from India. Companies such as Hyundai, Kia, Maruti Suzuki, and Volkswagen are exporting Indian-made cars to the African region instead of setting up the factory there because of low-cost manufacturing and availability of parts suppliers in India.

Competitive Landscape
The global market for aluminum parts gravity die casting is fragmented with the presence of many regional small-medium scale players across several countries, as well as large-scale/ international players.

These key players have focused their revenues on R&D to come up with better production processes and alloys. This strategy may assist in the production of premium quality die-cast parts for the global automotive and industrial sectors. Key players have also expanded their reign globally through various mergers, expansions, partnerships, joint ventures, and acquisitions. For instance, in 2021, Endurance Technologies announced the commencement of commercial production of aluminum die-castings and carry out the integration of disc brake components with control brake modulators.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06062867/?utm_source=GNW

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