Global Die Casting Machine Market - WishTree Insight

Global Die Casting Machine Market by Type (Hot Chamber, Cold Chamber, and Gravity Die Casting), Material (Magnesium, Aluminium, and Zinc), End-User (Mechanical & Manufacturing Equipment, Transportation, Building & Construction), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Die Casting Machine market size was valued at USD 63.4 billion in 2021 and is expected to surpass USD 116.2 billion by 2031, expanding at a CAGR of 8.3 % during the forecast period, 2021–2031. The market's growth is attributed to rising industrialization, increasing demand for lightweight vehicles in the automobile sector, and technological advancement.

INTRODUCTION

Die casting machinery is used to process the production of complex shapes with accuracy and surface finish. It enables a rapid production cycle, eliminates post-treatment work, and reduces porosity on each surface. The global manufacturing industry is growing at a prominent rate which is driving the market. The rising demand for complex shape products in the automotive industry is expected to create significant growth opportunities for die-casting machines in the market worldwide. The increase in demand for fuel-efficient, low-emission, and high-performance has created lucrative growth in the global die-casting machine market.

Market Trends, Drivers, Restraints, and Opportunities

• Rising industrialization in developing economies is a key factor to drive the market.
• Increasing demand for lightweight vehicles in the automobile sector is driving the market.
• Technological advancement in die-casting technology is expected to drive the market.
• Rising fossil fuel costs and increasing adoption of electric vehicles are driving the market.
• Die-casting machines are limited to mass production, due to high-cost investment and running costs hampering the market growth.
• Changing the requirements of end users is expected to hamper the market.
• Lack of well-trained and skilled workforce in the die-casting industry is hindering the market.

Scope of the Report

Market Segment Insights

The hot chamber casting machine segment is projected to register a considerable CAGR

Based on type, the die casting machine market is divided into a hot chamber, cold chamber, and gravity die casting. The hot chamber casting machine segment is expected to expand rapidly during the forecast period.

The aluminum segment is expected to expand at a rapid pace

Based on material, the die-casting machine market is divided into magnesium, aluminum, and zinc. The aluminum segment is expected to expand rapidly during the forecast period.

The transportation segment is projected to register a considerable CAGR

On the basis of end-user, the die-casting machine market is segregated into mechanical & manufacturing equipment, transportation, building & construction. The transportation segment is projected to register a considerable CAGR during the forecast period. On the other hand, the mechanical & manufacturing equipment segment is anticipated to account for a major market share during the forecast period.

The Asia Pacific region is anticipated to constitute a key market share

In terms of regions, the die-casting machine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia-Pacific region is expected to constitute a key share of the market during the projected period. The growth in the region is attributed to the rapid growth of the automotive and manufacturing industry.

Competitive Landscape

Key players competing in the Die Casting Machine market are Consolidated Metco, Inc. (U.S.); Empire Die Casting Company (U.S.); Hitachi metals Ltd (China); Alcast Technologies (Canada); GF Casting Solution AG (Switzerland); Shiloh Industries Inc. (U.S.); Sigma Electric Manufacturing Corp. (U.S.); Guangdong Yizumi (China).

FAQs

How much is the market worth?

The Die Casting Machine market size was valued at USD 63.4 billion in 2021 and is expected to surpass USD 116.2 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 8.3%.

What segments are covered in the Die Casting Machine report?

The segments covered in the report are type (hot chamber, cold chamber, and gravity die casting), material (magnesium, aluminum, and zinc), and end-user (mechanical & manufacturing equipment, transportation, building & construction).

Mention the key players in the market.

Consolidated Metco, Inc. (U.S.); Empire Die Casting Company (U.S.); Hitachi metals Ltd (China); Alcast Technologies (Canada); GF Casting Solution AG (Switzerland); Shiloh Industries Inc. (U.S.); Sigma Electric Manufacturing Corp. (U.S.); Guangdong Yizumi (China).