LONDON--(BUSINESS WIRE)--Technavio analysts forecast the ferrous metal casting machinery market in North America 2018-2022 to grow at a CAGR of over 5%, according to their latest market research report.
The casting process incorporating simulation technology is one of the major trends being witnessed in the ferrous metal casting machinery market in North America. The simulation technology is used to produce reliable, high-precision, and cost-effective components through the casting method. It also aids in enhancing the casting yield and reducing the overall processing time. As compared with conventional casting methods, simulation-based casting helps in easy detection of defects and eliminates them seamlessly to optimize the feed ability of the casting process.
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In this report, according to Technavio analysts, one of the key factors contributing to the growth of the ferrous metal casting machinery market in North America is x-ray casting defect recognition aiding in increasing efficiency:
Ferrous metal casting machinery market in North America: x-ray casting defect recognition helps in increasing efficiency
Metal casting industries have been using the automatic or assisted defect recognition (ADR) in X-ray applications. Constant upgrading of tubes and software with improved algorithms in the X-ray technology is slowly helping it in gaining impetus in the production process. The inline ADR system was first installed 20 years ago in the automotive casting production process and is still in use.
According to a senior analyst at Technavio for unit operations, “The digital radiography technology is accepted across a wide array of end-user markets and has presented many opportunities for software tools. The use of digital imaging technology in production processes has made image processing easy, increasing the overall casting process efficiency. This helps in deciding whether to accept or reject the produced part.”
Ferrous metal casting machinery market in North America: market segmentation and analysis
This market research report segments the ferrous metal casting machinery market in North America by technology (HPDC, LPDC, and GDC), end-user (automotive, off-highway equipment, and industrial machinery), and geography (US, Canada, and Mexico). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Based on technology, the HPDC segment held the largest market share in 2017, accounting for nearly 70% of the market. This segment is expected to grow steadily during the forecast period.
The US accounts for the major share in the ferrous metal casting machinery market in North America. The significant contribution to the market share is because of the extensive demand for metal casting machinery from end-user industries in the country.
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