Automotive Die Casting Market: Introduction
- Die casting is a specialized tool used to cut shape using a press. Manufacturers prefer flexible die casting solutions that suit the OEMs’ configuration set-ups and meet their quality and volume output requirements. Introduction of automated die casting manufacturing process has reduced the time-consuming process of vehicle production significantly.
- This process commonly involves a process called hot chamber die casting. The zinc is heated until it reaches a molten state, then pressure forces it into a mold in the shape of the automotive part needed. After the metal cools and hardens, it is removed from the mold. Automotive die casting process is increasingly being utilized to manufacture components such as passenger car body parts, engine parts, and transmission parts.
Key Drivers of Automotive Die Casting Market
- Demand for light weight car parts has risen dramatically. The overall weight of the vehicle has decreased by using lightweight elements, which in turn has also reduced vehicle emissions. Additionally, a rise in adoption of fuel-efficient vehicles has increased the demand for lightweight parts. This has boosted the adoption of aluminum die casting in vehicle manufacturing.
- Government initiatives are inclined toward energy saving, which is boosting the need for components that are manufactured by the die casting process. Furthermore, the manufacturing processes of other vehicle parts are being updated.
- Lowering the carbon footprint for the automobile manufacturing process is rapidly becoming one of the priorities of the automobile industry, thereby propelling the automotive die casting market
Challenges of Automotive Die Casting Market
- The pandemic has affected the complete production of the automobile, which made a huge impact on the transport sector too. Considering the rising EV market which is more in need for the lighter weight parts for the vehicles is affecting the Investment casting market by reducing its demand.
- Automotive die casting is essential in the manufacturing of automobiles. Furthermore, because die casting parts are good at reducing weight, they lower emissions and improve fuel efficiency, which is expected to drive the market. Furthermore, die casting allows for greater design freedom and flexibility when producing complex pieces. Variations in raw material prices, on the other hand, is likely to restrain the market.
Opportunities of Automotive Die Casting Market
- The automotive industry witnessed significant expansion in the last couple of years. Presently, automotive manufacturers are striving to meet the targets for highly tensile chassis frames and strong automotive parts, which are durable, lightweight, and cost-effective.
- There have been significant developments and improvements in the conventional die casting process, which are generating many opportunities for manufacturers. The ultra-high-vacuum die casting process is applied for producing large and thin component parts, such as space-frames and pillars, which are usually welded to automobile chassis.
Automotive Die Casting Market: Regional Segmentation
- Post COVID-19 crisis, Asia is poised to witness rapid growth, as compared to its counterparts, as the region has been witnessing significant growth in its industrial output for the last few years, especially in China and countries in Southeast Asia. The underdeveloped infrastructure for EVs in majority of Asia Pacific countries, is likely to propel the market for gasoline vehicles and automotive die casting in the near future.
- The economy of China is growing, and the disposable income of middle-class consumers is also increasing. This, in turn, is fueling the demand for vehicles in the country. The production for vehicles in China has increased considerably in the last five years, owing to the low production costs in the country. On the other hand, Europe is a leading region of the global die casting market along with North America.
Key Players Operating in Global Automotive Die Casting Market
- Castwel Auto Parts Pvt Ltd
- Die-casting Solutions GmbH
- Endurance Group
- Gibbs Die-casting Group
- Kinetic Die-casting Company
- Mino Industry USA, Inc.
- Ningbo Parison Die-casting Co. Ltd
Automotive Die Casting Market, by Process Type
- Pressure Die-casting
- Vacuum Die-casting
- Squeeze Die-casting
- Semi-solid Die-casting
Automotive Die Casting Market, by Raw Material
Automotive Die Casting Market, by Application
- Body Assemblies
- Engine Parts
- Transmission Parts
Automotive Die Casting Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Central & South America
- Middle East and Africa