Technavio has announced its latest market research report titled Global Aluminum Die Casting Machinery Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Aluminum Die Casting Machinery Market 2020-2024 (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--The new aluminum die casting machinery market Research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the Benefits Offered by Aluminum Die Casting Machinery,” says a senior analyst for Industrials at Technavio.
The preference for die casting machinery is higher over sand casting and forging, to manufacture metal products, because of its ability to produce lightweight metal parts with a quality surface finish. Die casting machinery is also effective in the large-scale production of light metal parts because of its fast cycle time and low tolerances. Moreover, there is a significant demand for lightweight metal components from industries such as automotive and aerospace and defense equipment. Automotive manufacturers, especially in developed countries, are increasingly incorporating lightweight aluminum die-cast parts in their products to improve the overall fuel efficiency. These benefits offered by die casting machines and die-cast parts are increasing their adoption rate, which will contribute to aluminum die casting machinery market growth during the forecast period.
As the markets recover Technavio expects the aluminum die casting machinery market size to grow by USD 1.21 billion during the period 2020-2024.
Aluminum Die Casting Machinery Market Segment Highlights for 2020
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
The Global Aluminum Die Casting Machinery Market will grow by USD 1.21 bn during 2020-2024
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/