The automotive parts zinc die casting market size is projected to register a substantial CAGR during the forecast period, 2021–2028. 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 utilised in the die casting process in vehicles. The metal, which is generally a nonferrous alloy such as zinc or aluminium, 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.
Automotive Parts Zinc Die Casting 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 Automotive Parts Zinc Die Casting Market Report
The report on the automotive parts zinc die casting market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Automotive Parts Zinc Die Casting Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Production Process (Pressure Die Casting, Vacuum Die Casting, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Pace Industries; Sandhar Technologies; Brillcast Manufacturing LLC; Dynacast; and Ashok Minda Group
Automotive Parts Zinc Die Casting Market Segment Insights
The vacuum die casting segment is projected to hold a major market share
Based on production, the automotive parts zinc die casting market is divided into pressure die casting, vacuum die casting, and others. The 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.
Asia-Pacific is expected to dominate the market
On the basis of geography, the automotive parts zinc die casting market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia-Pacific is anticipated to dominate the market during the forecast period. The automotive parts zinc die casting market in the Asia-Pacific region has developed significantly as a result of rising vehicle light-weighting and wide energy-saving trends, as well as increasing industrial and manufacturing sectors. With increasing local and international demand for high-quality zinc die-cast components at reduced rates, India is strengthening its position.
The European automotive industry is the most technologically sophisticated and inventive in the world. The reduction of fuel consumption and CO2 emissions has become a significant priority item for automotive manufacturers in the region as a result of the economic crisis and political demands. In Europe, non-ferrous castings produced an average of 20 metric tons per person, with a range of up to 58 metric tons. Furthermore, approximately 80% of the castings made in Europe are supplied within the European Union.
The automotive parts zinc die casting market has been segmented on the basis of
- Pressure Die Casting
- Vacuum Die Casting
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Pace Industries
- Sandhar Technologies
- Brillcast Manufacturing LLC
- Ashok Minda Group
Key players competing in the automotive parts zinc die casting market include Pace Industries, Sandhar Technologies, Brillcast Manufacturing LLC, Dynacast, and Ashok Minda Group.
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.