The report "Aluminum Casting Market by Process (Die Casting, Permanent Mold Casting, Sand Casting), End-use Sector (Transportation, Industrial, Building & Construction), and Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2026" The global aluminum casting market size is estimated at USD 70.4 billion in 2021 and is projected to reach USD 100.5 billion by 2026, at a CAGR of 7.4%. The market for aluminum casting has experienced significant growth, primarily due to its use in passenger cars, motorbikes, aerospace, railways, shipbuilding, commercial vehicles, heavy machinery, building & construction hardware, power & hand tools, and telecom. With the emergence of new industries, the need for lightweight vehicles and automobiles is also increasing; this is creating scope for the aluminum casting market. Economic development, coupled with easy availability of labor and raw materials, particularly in China, is driving the continuous expansion of production facilities across industries in the country.
Browse 285 market data Tables and 51 Figures spread through 228 Pages and in-depth TOC on "Aluminum Casting Market by Process (Die Casting, Permanent Mold Casting, Sand Casting), End-use Sector (Transportation, Industrial, Building & Construction), and Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/aluminum-casting-market-55112121.html
Die Casting segment likely to hold largest share of the aluminum casting market during the forecast period.
Die Casting is the largest process segment of the aluminum casting market. Die casting processes find wide application in any production process that creates high volume metal components. The dominant market position of the die casting segment can be attributed to the efficiency and economical nature of the process that offers a broader range of shapes and components than other casting techniques. Die casting is extensively used in the automobile sector for parts such as engine blocks, wheel spacers, valve covers, and others. The advantage associated with die casting is that the parts produced deliver a long service life. High reliability, quick production, and versatility in design are others benefits related to the die casting technique.
The Industrial sector is projected to witness the highest growth in demand for aluminum casting market during the forecast period.
Aluminum castings find a wide range of applications in the industrial sector. Aluminum cast products find applications in various heavy equipment used in industries such as engineering and manufacturing. These products are cost-effective to implement and offer better strength and temperature resistance; they can be installed relatively quickly as compared to traditionally used materials in various sectors, ranging from manufacturing to medical. Manufacturers are therefore opting for aluminum cast products.
Rapid economic growth in China, India and Japan is expected to propel the APAC aluminum casting market in the coming years.
APAC is the largest market for aluminum casting market, in terms of value. The demand for aluminum casting is highly dependent on the economic growth of a region. According to the International Monetary Fund (IMF), China and India are among the fastest-growing economies, globally. Countries such as Japan and China are expected to post steady growth in the aluminum casting market due to the growing industrial, automotive, and construction projects. The APAC aluminum casting market has been growing rapidly over the past few years with the rising income level of the middle-class population and increasing government investments in the industrial, automobile, and Building & Construction sectors
The key companies profiled in this report on the aluminum casting market include Rio Tinto (UK), Ryobi Limited (Japan), United Company RUSAL (Russia), China Hongqiao Group Limited (china), Aluminum Corporation of China Limited (China), Alcoa Corporation (US), are key players in aluminum casting market.
Don’t miss out on business opportunities in Aluminum Casting Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441