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Casting is a manufacturing process in which molten material is poured into a mold or hollow space of the required shape and then allowed to solidify. The solidified part, also known as casting, is extracted from the mold to complete the process. Casting substances can be metals or various other cold setting material that are prepared by mixing two or more than two components, such as clay or plaster. Casting is generally employed to manufacture complex shapes that are hard to be produced by any other method. Casting equipment helps to reduce the time for completing the full casting process and increases productivity.
Rise in demand for lightweight metals that are utilized in various industries, especially the automotive industry, to assemble automobiles, is increasing the demand for casting equipment. Moreover, rise in manufacturing volume in all types of industries also boosts the sale of casting equipment, globally. These are the key factors that are projected to propel the casting equipment market during the forecast period.
New opportunities are emerging in the casting equipment market globally with the emergence of CAD programs that optimizes casting design. One new opportunity in the current casting equipment technology cycle is adoption of CAD files to guide additive manufacturing programs, such as in 3D-printing of bonded sand into optimally designed molds and cores. These trends help in redesigning castings (or fabrications, or other assemblies) as lighter, more functionally effective cast structural elements of vehicles, machines, etc. Coordinating with these trends also makes it possible to expedite the design of a customized machine to maximize the potential of its market niche.
Quality defects are likely during the production of materials using casting equipment. Also, during the casting design process, there are risks of internal defects where metal flow is used to identify and reduce the risk of internal defects caused by gas pockets during mold filling. These factors act as a restraint for the growth of the casting equipment market.
China and Japan are the dominant countries in the casting equipment market. Growing demand for casting equipment in North America and Europe and increased awareness and benefits about casting equipment is offering new opportunities in these regions.
The casting equipment market growth in the APAC region can be credited to rising awareness about lightweight casting part equipment in countries such as India, Taiwan, and Indonesia.
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level.
Some of the major companies identified in the casting equipment market are:
Casting Equipment Market, By Casting type
Casting Equipment Market, By End-user
Casting Equipment Market, By Machine Type
Casting Equipment Market, By Distribution Channel
Casting Equipment Market, by Region
The report on the casting equipment market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
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Casting Equipment Market
