The North America automotive parts die casting market size is projected to expand at a substantial CAGR during the forecast period. The growth of the market is attributed to the increasing urbanization and automation.
A die casting machine is a machine that uses high pressure to force molten metal into a reusable metal die. Single cavity, multiple cavity, and combination dies are different types of dies. This method is used to make surface alloy and metal pieces that are precisely dimensioned, defined, smooth, and textured. Chassis, air valve, flywheel & bracket, smart locks, and vehicle appliances are examples of metal parts. The automobile die casting technique is a manufacturing method for producing sophisticated and complicated metal parts and components utilizing reusable molds known as dies. Metal, die casting machine, furnace, and die are all utilized in the die casting process in vehicles. The metal, which is generally a nonferrous alloy such as zinc or aluminum, is melted in a furnace before being pumped into dies in a die casting machine.
The Covid-19 pandemic affected the demand and supply of automotive parts zinc die casting market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing urbanization and automation is projected to fuel the market during the forecast period.
- Government programs are key factors propelling the market in the coming years.
- High cost of product is estimated to hamper the market growth.
- Lack of skilled labor act as major challenge that can hinder the market during the forecast period.
- R&D investment and technological advancement is anticipated to create lucrative opportunities for the market players.
Scope of the Report
The report on the North America automotive parts die casting market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
North America Automotive Parts Die Casting Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2021
|
|
Historic Data
|
2019–2020
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Material (Aluminum, Zinc, Magnesium, and Others), Production (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting, and Semi-solid Die Casting)
|
|
Regional Scope
|
The US, Canada, and Mexico
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Rheinmetall AG; RYOBI Die Casting; Martinrea Honsel; and KSM Casting.
|
Market Segment Insights:
The magnesium segment holds a major market share
Based on material, the North America automotive parts die casting market is segregated into aluminum, zinc, magnesium, and others. The magnesium segment is estimated to expand at a high CAGR during forecast period. Due to the abundance of magnesium in the region, as well as its qualities as the light and most malleable metal, the use of magnesium die casting is rapidly rising. Despite their high conductive characteristics, magnesium alloys provide a good shield against electromagnetic and radio interference. As a result, magnesium alloy products are often employed in automotive parts for EMI shielding.
The vacuum die casting segment is projected to hold a major market share
Based on production, the North America automotive parts die casting market is segregated into pressure die casting, vacuum die casting, squeeze die casting, and semi-solid die casting. The vacuum die casting segment is expected to represent a key share of the market during the forecast period. Countries all around the world have enacted strict emission regulations in order to combat global warming. Governments all across the globe are working to mitigate the harmful impacts of global warming and decrease their carbon footprint. Japan is currently implementing new emission standards based on the Euro VI standards. As a result of the implementation of emission standards in a number of countries, OEMs around the world are expected to investigate new technologies that aid in the reduction of emissions in automobiles. Freight companies and fleet owners are putting a lot of effort into developing technologies that will reduce the average emission rate.
The market in US is projected to hold a major market share
In terms of country, the North America automotive parts die casting market is classified as the US, Canada, and Mexico. The US is anticipated to dominate the market. Automobile sales in the United States increased in 2019. The country is a major exporter of automobiles to numerous regions of the world, owing to rising demand for automobiles in the country as well as globally.
Segments
Segments Covered in the Report
The North America automotive parts die casting market is segmented on the basis of
Material
- Aluminum
- Zinc
- Magnesium
- Others
Production
- Pressure Die Casting
- Vaccum Die Casting
- Squeeze Die Casting
- Semi-solid Die Casting
End-users
- Engine Parts
- Transmission Components
- Body Parts
Regions
Key Players
- Rheinmetall AG
- RYOBI Die Casting
- Martinrea Honsel
- KSM Casting
Competitive Landscape
Major players competing in the North America automotive parts die casting market include Rheinmetall AG, RYOBI Die Casting, Martinrea Honsel, and KSM Casting.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
