DUBLIN--(BUSINESS WIRE)--The "Metal Casting Market by Process (Gravity, High & Low Pressure, Sand), Application (Body Assembly, Engine & Transmission), Material (Iron, Al, Mg, Zn), Component, ICE & EV (Passenger Car, LCV, HCV, BEV, HEV & PHEV) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The metal casting market is projected to reach USD 39.94 Billion by 2025 from USD 20.23 Billion in 2017, at a CAGR of 8.87% during the forecast period.
Structural & design changes, increasing trend of light-weighting in passenger cars (such as increase in use of alloy wheels, lightweight engine blocks, & seat frames etc.) as a result of stringent emission norms, and benefits offered by casting process such as higher precision, accuracy, shorter cycle time, and excellent surface finish are expected to drive the market for metal casting during the forecast period.
Aluminum is estimated to hold the largest share of the metal casting market from 2017 to 2025. Engine downsizing is a key trend that is changing the market dynamics of the automotive industry.
The engine parts application is estimated to lead the metal casting market during the forecast period. Cylinder heads, engine block, engine mounts, exhaust manifold, intake manifold, oil pan, and turbochargers are some of the key components considered under this application. With the rising trend of vehicle light-weighting, the casted iron engine block is replaced by aluminum engine block for further weight reduction. BMW, PSA Group, and General Motors among others are offering their vehicle models with aluminum engine blocks.
Further, as per the US Department of Energy (US DOE), by using lightweight components, a quarter of US fleet, which is around 240 million (cars and trucks), can save approximately 5 billion gallons of fuel per year by 2030. Furthermore, as per the research analysis, V6 and V8 engines are preferred in US & Canada owing to higher demand for SUVs. The European and Asia Oceania markets have a higher demand for I4 and I3 & I4 engines, respectively. Thus, as the engines are getting bigger and complex with turbocharging capabilities, the demand for aluminum casted engine parts is expected to rise in the future.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Metal Casting Market, By Process
7 Metal Casting Market, By Material Type
8 Metal Casting Market, By Application
9 Metal Casting Market, By Component
10 Metal Casting Market, By IC Vehicle Type
11 Metal Casting Market, By Electric & Hybrid Vehicle Type
12 Metal Casting Market, By Region
13 Competitive Landscape
14 Company Profiles
- Ahresty Corporation
- Aisin Automotive Casting
- GF Automotive
- Gibbs Die Casting
- Mino Industrial
- Rheinmetall Automotive
- Ryobi Limited
For more information about this report visit https://www.researchandmarkets.com/research/28xk26/global_metal?w=4