LONDON--(BUSINESS WIRE)--The global aluminum die casting machinery market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global aluminum die casting machinery market size is the benefits offered by die casting machines and die-cast parts. The techniques of forming metal, such as sand casting and forging cannot produce light metal parts of accurate surface finish in large quantities. Thus, the demand for die casting machinery is increasing significantly for manufacturing lightweight metal parts that are made of aluminum, magnesium, or zinc alloys. Die casting process ensures a high surface finish and limits the need for secondary operations.
As per Technavio, the global shift toward NEVs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global aluminum die casting machinery market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Aluminum Die Casting Machinery Market: Global Shift toward NEVs
Several countries across the world are increasingly focusing on the electrification of transportation solutions, such as passenger cars, and light commercial vehicles (LCVs). Thus, the proportion of NEVs in global automobile sales is expected to increase significantly. Moreover, NEVs must be lightweight to increase range and address range anxiety, which is common among the users of NEVs. Hence, NEVs use more aluminum content than fossil fuel vehicles. Thus, the global shift toward NEVs will stimulate the demand for aluminum die casting machinery market during the forecast period.
“Apart from the global shift toward NEVs, other factors such as the increasing global production of bauxite ore and the growing trend of M&As among buyers will have a significant impact on the growth of the aluminum die casting machinery market value during the forecast period,” says a senior analyst at Technavio.
Global Aluminum Die Casting Machinery Market: Segmentation Analysis
This market research report segments the global aluminum die casting machinery market by product (HPDC, LPDC, and others), and geographic regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the aluminum die casting machinery market in 2018, followed by Europe, North America, South America, and MEA respectively. The growth of the aluminum die casting machinery market share in APAC can be attributed to factors such as the stringent emission norms mandating the reduction of vehicle weight, and the emergence of APAC as a manufacturing hub for aerospace and defense equipment.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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