Automotive Sand Casting Market: Introduction
- Sand casting is the most widely used casting process to manufacture products from a wide array of materials and to cater a broader range of customers. It utilizes expendable sand molds to form complex metal parts that can be made of nearly any alloy.
- Sand casting involves the pouring of molten metal into a cavity-shaped sand mold where it solidifies. It is suitable for manufacturing parts in a wide range of sizes and weights.
Key Drivers of Automotive Sand Casting Market
- Changing economic conditions amidst rise in employment have boosted the automobile sector. Rise in employment levels has increased per capita income and thus, the expenditure capacity of people has also risen, which has fueled the sale of vehicles. Number of families owning more than one vehicles along with number of first time buyers is increasing, which in turn is driving automotive production. Automakers are ramping up their production capacities to cater to the rising demand from consumers, which in turn is boosting the demand for automotive components. Thus, expansion of the automotive sector is directly propelling the global automotive sand casting market.
- Vehicles are becoming more and more sophisticated with every passing year due to emergence of new technologies and changing customer demands. Electric vehicles, and autonomous vehicles are witnessing high demand from consumers, which is attracting the focus and investment of automotive companies. Automobile manufacturers are striving to bring down the kerb weight of their vehicle models by using various materials with a high strength-to-weight ratio. Various parts of the automobile are being made much stronger than before in order to comply with the high standards set by regulatory agencies. Sand casting enables automotive companies to manufacture parts of complex geometries with around 15% weight reduction. This has been a major reason for sand cast products to find multiple applications in new-generation vehicles, from battery enclosures to body structure. Thus, on-going mobility transformations, which has propelled the demand for economic & lightweight products, is boosting the global automotive sand casting market.
Challenges in Automotive Sand Casting Market
- Dimensional accuracy, surface finish, and other characteristics of sand cast parts are inferior to the parts made from other casting processes. Shell molding, pressure die casting, and other such processes are gaining popularity, as these more advanced casting process offer better dimensional accuracy, higher productivity rate, and low labor costs as compared to that offered by sand casting. This emergence of alternative casting processes is restraining the global automotive sand casting market.
Impact of COVID-19 pandemic on Automotive Sand Casting Market
- The COVID-19 pandemic led to decline in sales and production of automobiles, which in turn hampered the demand for automotive sand casting products. The automotive market is further hampered by the recent electronic chip crisis, which also restrains the automotive sand casting market. However, automakers are striving to return to normalcy and sales of vehicles has increased in the post-COVID era, which is expected to boost the global automotive sand casting market.
Asia Pacific to hold significant share of global automotive sand casting market
- Based on geography, Asia Pacific held a significant share of the global automotive sand casting market in 2020. China is the world’s largest automotive market by both annual sales and manufacturing output. The total passenger vehicle production in China exceeded 16 million in 2020, while according to data from the Chinese Ministry of Industry and Information Technology, over 21.44 million passenger vehicles were sold across China in 2019. Likewise, other countries such as Japan, India, South Korea, and those in ASAEN are leading manufacturing hubs of automobiles. This strong presence of automakers and automotive component suppliers is driving the share held by Asia Pacific of the global automotive sand casting market.
Key Players Operating in Automotive Sand Casting Market
The global automotive sand casting market is moderately concentrated due to the presence of multiple players. A few of the key players operating in the automotive sand casting market are:
- A.W. Schumacher
- AmTech International
- Bernier Cast Metals, Inc.
- Ermak Foundry & Machining, Inc.
- Grainger & Worrall Limited
- Hanloo Cooperation
- Haworth Castings Ltd.
- Peterson Enterprises
- Precise Cast Prototypes & Engineering, Inc.
- Rheinmetall AG
Global Automotive Sand Casting Market: Research Scope
Global Automotive Sand Casting Market, by Sand Type
- Green Sand
- Dry Sand
- Core Sand
- Loam Sand
Global Automotive Sand Casting Market, by Material
- Stainless Steel
- Cast Iron
Global Automotive Sand Casting Market, by Component
- Engine Components
- Engine Blocks
- Engine Manifolds
- Cylinder Heads
- Transmission Cases
- Body Structures
- Brake Drums & Rotors
Global Automotive Sand Casting Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicle
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- Buses & Coaches
Global Automotive Sand Casting Market, by Sales Channel
Global Automotive Sand Casting Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.