Automotive Part Die Casting Market Demand, Size & Top Players Analysis, 2028

Automotive Part Die Casting Market: Industry Perspective

The global automotive part die casting market size was worth around USD 11.1 billion in 2021 and is predicted to grow to around USD 20.31 billion by 2028 with a compound annual growth rate (CAGR) of roughly 7.8% between 2022 and 2028.

The report analyzes the global automotive part die casting market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the automotive part die casting industry.

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Die casting is a process that is used to produce metal parts by forcing molten metal under high pressure into a die cavity. This manufacturing process allows products to be made with the high degree of accuracy and repeatability. Die casting process also can produce fine details such as textured surfaces or names without any need for further processing.

increase in the middle-income group population coupled with rise in standard of living in emerging countries as well as developed nations have resulted into surge in sale of passenger vehicles. This has resulted in humungous demand for automotive part die casting across the globe. Reportedly, die casting in automotive sector is a special tool that is utilized for cutting automotive parts in uniform shapes through use of a press.

Product manufacturers prefer flexible die casting services that can suit original equipment manufacturer configuration setup along with meeting quality of products & volume output needs. Owing to launching of automated die casting production processes, the consumption of time in vehicle manufacture has come down drastically.

COVID-19 Impact Analysis

Lack of capital and less production of various components in automotive industry has severely impacted automotive market during COVID times. Apart from this, an outbreak of the COVID-19 pandemic has resulted in customers not being able to visit car and two-wheeler showrooms due to social distancing laws and lockdowns. This has increased the gap between demand and supply of vehicles leading to less production of vehicles during COVID, thereby impacting demand for automotive part die casting components.

Reportedly, the automotive part die casting business has come across huge challenges owing to lower demand for original equipment manufacturers due to the rapid spread of the COVID pandemic. Disruptions in supply chain activities are predicted to halt goods exchange, thereby severely impacting growth of automotive part die casting market.

Global automotive part die casting market is primarily driven by increasing demand for lightweight automobiles, energy saving trend, rapidly growing automotive industry across the globe paired with favorable government initiative and industry regulations. In addition, the initiative by the EPA (Environmental Protection Agency) to raise the mile per gallons standards from 35.5 miles per gallon (mpg) by 2016 and 54.5 mpg by 2025 has created lots of opportunities for automotive die casting industry to grow tremendously. Initiatives by NADCA to improve the technical workforce and strategy of working with several community colleges in the U.S. to create a die-casting farm system are expected to improve the performance of the whole die casting market.

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Automotive Part Die Casting Market: Dynamics

Key Growth Drivers:

The surge in per capita income of the population in emerging economies and the rise in vehicle production will drive the growth of the automotive part die-casting market. The need for reducing GHG emissions and focusing on enhancing fuel efficiency will drive market trends.

Restraints:

Fluctuations in raw material costs and the negative impact of COVID-19 on sales of the product will impede growth of industry.

Opportunities:

With products playing a key role in weight reduction and the need for effective designing as well as suppleness in creating complex components will open new growth avenues for the automotive part die casting industry.

Challenges:

Transportation activities are hit by the COVID-19 pandemic and changes in policies of governments regarding product approval & dales post-COVID conditions will impact demand-supply growth curvature and can pose a challenge to the business.

Automotive Part Die Casting Market: Segmentation

The global automotive part die casting market is segmented based on production type, raw material, application, end-user, vehicle type, and region.

On the basis of production type, the market is sectored into squeeze die-casting, semi-solid die-casting, pressure die-casting, and vacuum die-casting. Vacuum die-casting is poised to dominate the production type segment within the automotive part die casting market from 2022 to 2028. This growth is attributed to its superior ability to produce high-quality, weldable automotive components compared to traditional methods. By effectively eliminating air pockets during the casting process, vacuum die-casting ensures minimal defects and enhances the overall strength and integrity of the final product. This technology is particularly crucial for manufacturing large and complex automotive components where high-quality and reliability are paramount.

By Raw material, the automotive part die casting industry is divided into aluminum, magnesium, and zinc. The aluminum segment is growing at a high rate and is projected to dominate the global market. The growth trajectory of this segment is significantly influenced by the inherent properties of aluminum. Its lightweight nature, coupled with exceptional corrosion resistance, positions it as a prime candidate for various applications. Furthermore, aluminum's advantageous mechanical properties, thermal conductivity, and electrical conductivity further bolster its appeal. Crucially, aluminum's low density makes it an ideal choice for die casting, a critical process in automotive part manufacturing. The high strength exhibited by aluminum castings, even at extreme temperatures, further enhances its desirability within this sector.

In terms of application, industry is segregated into body assemblies, transmission components, and engine components.

Based on end-users, the automotive part die casting sector is divided into automotive OEMs and independent manufacturers.

In terms of vehicle type, the industry is sectored into passenger vehicles and commercial vehicles.

Automotive Part Die Casting Market: Report Scope

Automotive Part Die Casting Market: Regional Analysis

Asia Pacific To Dominate Automotive Part Die Casting Market Over 2022-2028

The growth of the regional market over the forecasting timespan is due to the thriving automotive vehicle sector in countries such as China with massive vehicle production & sales. The rise in the sale of passenger cars in countries such as Malaysia, India, China, and Indonesia will drive regional market trends.

Recent Developments

• In February 2021, Endurance Technologies Limited – a key manufacturer of aluminum die casting products- based in Maharashtra, India opened its commercial product unit in Tamil Nadu in Country. The establishment is predicted to increase volume of production of aluminum die castings and will supply machine aluminum castings to firms such as Royal Enfield and Hyundai.
• In December 2020, a UK-based firm referred to as Ryobi Aluminum Casting Limited declared that it secured a multi-million pound contract with a new transmission supplier in electrified drivetrains business. The deal is worth a UK pound of 15 million yearly and is likely to produce nearly 1, 50,000 clutch & transmissions units annually for new hybrid automotive from 2023.

Automotive Part Die Casting Market: Competitive Landscape

The global automotive part die casting market is dominated by players like:

• Consolidated Metco, Inc.
• Endurance Technologies Limited
• Rockman Industries
• Ryobi Die-casting Inc.
• Alcast Technologies
• Dynacast
• Howmet Aerospace Inc.

The global automotive part die casting market is segmented as follows;

By Production Type

• Squeeze Die-Casting
• Semi-Solid Die-Casting
• Pressure Die-Casting
• Vacuum Die-Casting

By Raw Material

• Aluminum
• Magnesium
• Zinc

By Application

• Body Assemblies
• Transmission Components
• Engine Components

By End-User

• OEMs
• Independent Manufacturers

 By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa