Aluminum Die Casting Machinery Market 2021: Challenges, Growth Drivers
The global aluminum die casting machine market has been growing rapidly over the past few years. The market growth primarily attributes to the increasing use of aluminum in the construction, automotive, aerospace, and power industries worldwide. Aluminum is lighter than steel, which makes it more suitable for lightweight automotive parts manufacturing. While steel is less expensive, it is heavier, which results in reduced fuel economy.
This, as a result, increases the demand for aluminum in the making of automotive parts. Moreover, the burgeoning automotive industry escalates market growth. According to Market Research Future (MRFR), the global aluminum die casting machines market is projected to grow to USD 1.5 Billion by 2025, registering 6% CAGR during the estimated period (2019-2025).
High initial investments to produce aluminum die-casting machines increase the market size. The ultimate tensile strength of aluminum is an important property that determines its mechanical performance. The high moldability of aluminum in the making of various aluminum parts of different size and shape thus create substantial market demand.
Besides, the automotive industry is undergoing revolutionary technological changes in mobility, digitalization, and autonomous driving & electrification. These trends create a turbulent environment for aluminum die casting machines. Additionally, easy recyclability of aluminum contributes further to high demand, especially in the packaging industry. The ever-increasing population and rapid urbanization & industrialization substantiate the market growth, driving the power and construction industry.
Simultaneously, rapid economic growth influences market growth, driving the automotive, construction, and power industry by increasing consumers' purchasing power. Conversely, high investment capital, and availability of alternative die-casting methods are major factors projected to impede the market growth. Nevertheless, spurring rise across the industry verticals would support the market growth throughout the assessment period.
Aluminum Die Casting Machines Market Segment
The report is segmented into three dynamics;
By Product Type : High-Pressure Die Casting (HPC), Low-Pressure Die Casting (LPDC), and others.
By Industry Vertical: Automotive, Power, Building & Construction, and others.
By Regions : Europe, North America, APAC, and Rest-of-the-World.
Aluminum Die Casting Machines Market Regional Analysis
The Asia Pacific region dominates the global aluminum die casting machinery market. The largest market share attributes to the vast development of power infrastructure and a large market for aluminum utensils. Besides, the burgeoning automotive manufacturing sector and rapid growth in the key product segment drive the regional market's growth.
Moreover, increasing awareness about technological developments in die-casting techniques drives the demand in the regional market. India and China hold larger shares in the regional market, emerging as major automotive hubs. Also, increasing population and rapid urbanization & industrialization in the region drive the market demand.
Europe stands second in the global aluminum die casting machines market. The market growth is driven by the presence of manufacturing hubs in Germany and the UK, where aluminum is widely utilized in automobiles, packaging, and kitchen utensil industries. Europe has been the global hub for automotive research and innovation. Additionally, the large and well-established automotive sector and the resurging economy in the region play a vital role in the growth of the aluminum die casting machines market.
North America is rapidly emerging as a promising market for aluminum die casting machines. Factors such as well-established automotive industries and increasing vehicle production in this region create substantial opportunities. Furthermore, rising demand for die-cast aluminum in the construction, power, aerospace, automotive, and packaging industries drive the regional market. The North American aluminum die casting machines market is estimated to grow significantly during the forecast period.
Global Aluminum Die Casting Machines Market – Competitive Analysis
Highly competitive the aluminum die casting machines market is largely dependent on automobile production and sales. Due to the strong presence of notable players accounting for a substantial market share due to their innovations, the market appears diversified. To gain a larger industry share, market manufacturers incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch.
Major Players:
Players leading the global aluminum die casting machines market are Buhler AG (Switzerland), K. Technology Holdings Ltd. (Hong Kong), Toshiba Machine Co., Ltd. (Japan), TOYO Machinery & Metal (Japan), Ube Industries, Ltd. (Japan), Walbro (US), Zitai Precision Machinery Co., Ltd. (Taiwan), Alcast Company (US), Consolidated Metco, Inc. (US), Gibbs Die Casting Corp. (US), Frech (EN) (Germany), Idra Group Ltd (Italy), and HMT Machine Tools Limited (India), among others.
Industry/ Innovation/ Related News:
July 13, 2020 ---- Tesla, Inc. (the US), an electric vehicle and clean energy company, announced big die casting plans. The company plans for the more efficient production of the Tesla model with the help of huge die-cast cells. Thus, Tesla is preparing the next step in the use of aluminum for cars to deal with the current issue of the SAE automotive engineering magazine extensively.
Tesla would be receiving the required house-sized die casting cells from Italian die casting machine producer, IDRA. The company has ordered two of these Giga presses, and the first will be installed soon.
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