LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global aluminum die casting machinery market to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest market research report.
In this report, Technavio highlights the emergence of high-capacity die casting machinery as one of the key emerging trends in the global aluminum die casting machinery market. The two major indicators for determining the overall productivity of a die casting cell are die casting process efficiency and uptime. To determine this as accurately as possible, the overall equipment efficiency method has been implemented across the industry that draws a comparative study between the theoretical output capacity and the actual capacity of the plant. This methodology involves the complete evaluation of the die casting cell, i.e., the die casting machine and its peripherals. Factors such as time, velocity, and quality are also taken into consideration.
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In this report, Technavio analysts highlight the shift towards the use of lightweight metals in the automotive industry as a key factor contributing to the growth of the global aluminum die casting machinery market:
Global aluminum die casting machinery market: Shift towards the use of lightweight metals in the automotive industry
Aluminum die casting machinery is used majorly by automotive part manufacturers to produce lightweight aluminum cast parts that are used in the automotive production assembly. The increasing emissions from vehicles have compelled governments globally to impose strict mandates on vehicle emissions. Hence, automotive manufacturers are shifting towards the use of lightweight metal parts like aluminum and manganese in order to fulfill the regulatory norms. Lightweight vehicles help in reducing the overall energy consumption and increase the overall efficiency of the vehicles.
According to a senior analyst at Technavio for engineering tools, “In regions such as APAC, the automotive industry had experienced robust growth during 2016-2017. In countries such as China and India, factors like technological advancements, implementation of stringent emission norms, and increasing demand for fuel efficiency are driving the passenger vehicle segment in this region.”
Global aluminum die casting machinery market segmentation
This market research report segments the global aluminum die casting machinery market into the following products (HPDC and LPDC) and key regions (the Americas, APAC, and EMEA).
Of the two major products, the HPDC segment held the largest market share in 2017, accounting for nearly 70% of the market. The market share for this product is expected to increase by 2022. The fastest growing product is HPDC, which will account for nearly 71% of the total market share by 2022.
APAC was the leading region for the global aluminum die casting machinery market in 2017, accounting for a market share of nearly 58%. By 2022, APAC is expected to continue dominating the market and register the highest growth.
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