Dublin, October 13, 2021--(Business Wire)--The "Die Casting Machinery Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's products.
The die-casting machinery market is valued at USD 2 billion in 2020 and is expected to reach 4 billion by 2026. The compound annual growth rate during the forecast period (2021-2026) will exceed 6%.
LK Technology Holdings Limited
Toyo Machinery & Metal Co., Ltd.
Oskar Frech GmbH Co. KG
Zitai Precision Machinery Co., Ltd.
The die-casting machinery market is increasingly adopting aluminum
The largest market segment that automakers are increasingly paying attention to is aluminum, rather than steel and iron, to use die-casting machinery to produce parts. Because aluminum is much lighter than steel, and because it has many advantages such as ductility compared with other materials, aluminum is expected to occupy a dominant position in the raw material field of the market.
In addition, the rising cost of fossil fuels and the increasing popularity of electric vehicles have become important driving forces for the market. In addition, various regions have implemented strict environmental regulations and cafe standards to support the adoption of die-casting processes and related machinery.
In December 2018, the European Union enacted new carbon dioxide emissions regulations for passenger cars and commercial vehicles. The agreed goal is to reduce the average carbon dioxide emissions of new passenger cars by 15% and 37.5% in 2025 and 2030, respectively, both relative to the 2021 base. It will be reduced by 15% by 2025 and another 31% by 2030, which will be used for light commercial vehicles.
Among all the factors driving the market, the increasing customer preference for aluminum products and the continued increase in aluminum use are expected to provide significant growth for the market.
The Asia-Pacific region will achieve significant growth during the forecast period
Due to the expansion of the automotive industry in the region, the Asia-Pacific region is expected to achieve growth during the forecast period. In addition, the growth of investment in construction activities in emerging markets and the surge in machinery and manufacturing equipment manufacturers are also expected to promote the growth of the die-casting machine market in the region.
Emerging economies, such as China and India, are expected to experience significant growth in the automotive and other manufacturing industries. China is one of the world's largest suppliers of auto parts. In 2019, auto parts exports reached 33.63 billion U.S. dollars. In addition to low labor costs, China is due to its strong business ecosystem, lack of compliance, low taxes and tariffs, and competitive currency practices.
This, in turn, is expected to significantly boost the demand for the die-casting machinery market in the region. In addition, the growing demand for industrial instruments is expected to drive the growth of the die-casting machinery market in North America. The rise of industrial manufacturing and the automotive industry in Europe is also expected to promote the growth of the die-casting machinery market during the forecast period.
4.3 Industry attractiveness-Porter's five forces analysis
5.1.1 Cold Chamber Die Casting Machine
5.1.2 Hot chamber die casting machine
7 Market opportunities and future trends
For more information about this report, please visit https://www.researchandmarkets.com/r/1hdtki
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