Dublin, December 23, 2020 (GLOBE NEWSWIRE) – The North American & Asian Aluminum Die Casting Size Analysis Report by Production Process (Pressure Die Casting, Other), by End Use, by Region, and add the Departmental Outlook report, 2020 – 2027 ” ResearchAndMarkets.com’s offering.
North America and Asia aluminum die casting market size is expected to reach USD 33.49 billion by 2027, expanding at a CAGR of 7.1% from 2020 to 2027.
Increased demand from the transportation industry for light elements is expected to drive market growth.
The growth of the market is accelerating due to the advantages of both aluminum alloy and die casting process. Aluminum is coated with copper or silicon in die casting because it tends to crack or shrink at high temperatures. The properties of aluminum, such as light weight and high corrosion resistance, make it suitable in the manufacture of parts with thin walls and complex shapes and those that require exposure to electrical or thermal energy. The advantages of die casting include improved quality, long service life delivery, high reliability due to uniformity of fully productive parts, fast production, the requirement for minimal maintenance, multifunctional design, and least assembly.
The transportation industry emerged as the largest end-use segment in 2019 as the product finds various applications in vehicles, such as in electrical connectors, housing dies, thin walls, engine blocks, cylinders, transmission, chassis, and other body parts. However, as a result of the release of covid-19, passenger car sales fell sharply worldwide, thus impacting the demand for aluminum die casting.
In the US, sales of passenger cars and light lorries fell by almost 23%. The decline was around 20% in Japan for the passenger car market. Major economies have also seen a decline in motorcycle sales. For example, in India, Royal Enfield generates the largest sales from its motorcycles with an engine capacity of less than 350 cc. The company’s sales had fallen by about 13% in January 2020 in the country as a result of BS6 norms. Sales were affected by the covid-19 pandemic in March 2020.
Product demand continues in the construction industry as well, which skyrocketed until covid-19 disrupted most global operations. However, with very little restriction in most countries, the construction activities have started to resume slowly. However, the overall revenue of the construction industry is expected to be negative as as a result of the downturn, sales in the residential sector were significantly affected. For example, home sales and launches declined 26% and 51% in the fourth quarter of the 2020 financial year in India.
The U.S., a highly visible market in the industry, is one of the toughest countries in the world due to covid-19 and its major end-use industries are seeing a decline in demand and output. For example, the country’s power sector has been significantly affected. The department has already seen scraps and delays in its installation projects amid the global health crisis and in addition, it has received a large number of reactive rent bills.
This move represents a multi-million dollar blow to the industry. For example, Avangrid Inc., which owns a power plant in the U.S., received a bill for more than USD 3 million for 2 years rent on its 131 MW Tule wind farm project on federal land. The energy market of the US aluminum die castings market is expected to see a significant decline in demand in the future.
The competitive position of the market is particularly intense as market players suffer losses in the current fiscal year. The players are thwarting their plans for the future, which have been shattered by the pandemic. For example, in May 2020, Shiloh Industries Inc. withdrew. out the fiscal year 2020 guideline issued in December 2019, considering the economic uncertainty caused by covid-19. The company withdrew their production and focused on maintaining its liquidity throughout the organization.
North American & Asia Aluminum Die Casting Market Report
- Asia is expected to record the fastest growth rate, in terms of revenue, over the forecast period as a result of a rapid pace resumption in China’s manufacturing activities.
- North America is expected to see a slow growth rate of 2.7% in volume over the forecast period due to a decline in manufacturing activity and an increase in covid-19 cases across the countries in the region.
- The US is expected to record a CAGR of 3.1% in volume over the forecast period. Demand for production in the country is expected to increase with the resumption of construction work
- Consumer durables are another hard segment of the market that has been hit hard. A large proportion of the industry was not accounted for under essentials, which had a profound effect on its production and sales. For example, is the sports industry crore? 2,000 in Jalandhar, India sees very negative situation as manufacturing operations are forced to be halted under government restrictions
- South Korea is expected to regain stability soon as the country has taken control of the virus very successfully, which is a good sign for the market as the manufacturing operations are expected to start and work soon at a higher capacity.
Key topics covered:
Chapter 1 Approach and Scope
Chapter 2 Executive Summary
Chapter 3 North American & Asian Aluminum Die Casting market variables, trends, & scope
3.1. Market line forecast
3.1.1. Parental market perspective
3.2. Prediction & growth mapping
3.3. Market dynamics
3.4. North America & Asia aluminum die casting industry analysis – Porter
3.5. North America & Asia aluminum die casting industry analysis – PESTEL
3.6. Key contracts & analysis of strategic alliances
3.6.1. Joint Ventures
3.6.2. Mixing & building
3.6.3. Strategic transplants
Chapter 4 North American Aluminum Die Casting Market: Asia: Production Process Measurements & Trend Analysis
4.1. Definition & scope
4.2. Product process movement & market segmentation analysis, 2019 & 2027
4.3. Weight lifting
4.3.2. High-pressure die casting
4.3.3. Low-weight die-casting
4.4. Others
Chapter 5 North American Aluminum Die Casting Market: Asia: end-use estimates & trend analysis
5.1. Definition & scope
5.2. End-user movement analysis & market share, 2019 & 2027
5.3. Transport
5.3.1. Market assessments & forecasts, in transit, 2016 – 2027 (Kilotons) (USD Million)
5.3.2. General road transport
5.3.3. Sports road transport
5.3.4. Heavy vehicles
5.3.5. Aerospace & flight
5.4. Business
5.4.1. Market assessments & forecasts, in industry, 2016 – 2027 (Kilotons) (USD Million)
5.4.2. Agricultural equipment
5.4.3. Construction equipment
5.4.4. Others
5.5. Building & construction
5.6. Telecommunications
5.7. Consumer durables
5.8. Power
5.9. Others
Chapter 6 North American and Asian Aluminum Die Casting Market: Regional Measurements & Trend Analysis
Chapter 7 North American Aluminum Die Casting Market: Asia: A Competitive Analysis
7.1. Recent developments & impact analysis, with key market participants
7.2. Company classification (major innovators, market leaders, emerging players)
7.3. Seller landscape
7.3.1. List of key players / suppliers (top 10), by country
7.3.2. List of end users
7.3.3. Company market position analysis
Chapter 8 Aluminum Die Casting Market of North America and Asia: Company Profiles
- Bocar
- Shiloh Industries Inc.
- Corporal Madison-Kipp
- Accurcast Inc.
- Port Port
- Spartan light metal products
- George Fischer Limited.
- Ryobi Limited
- Martinrea Honsel
- PGI Far East Precision Products Co. Ltd.
- Chongqing Yujiang Die Casting Co., Ltd
- GuangDong HongTeo Accurate Technology Co. Ltd.
- Zouping Tiansheng Metal Technology Co., Ltd.
- General aluminum manufacturing company
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