High

Hyderabad, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "High-pressure Die Casting Market Report (2023-2028)," the market is estimated at USD 36.42 billion in 2023. It is expected to register a CAGR of 6.16% during the forecast period.

High-pressure die castings refer to alternative components that are lightweight. These are molds made by forcing molten metals at high speed and pressure.

Report Summary:

Report Attribute

Details

Market Size (2023)

USD 36.42 billion

Market Size (2028)

USD 49.11 billion

CAGR (2023-2028)

6.16%

Study Period

2018-2028

Fastest Growing Market

Asia-Pacific

Largest Market

Asia-Pacific

Forecast Units

Value (USD billion)

Report Scope

Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends

Key Market Drivers

The growing penetration of die-cast parts in automotive and industrial machinery.

The growth of the construction sector.

Who are the Top Companies in the High-pressure Die Casting Market?

The high-pressure die-casting market is highly fragmented in nature. The market comprises several domestic and international players worldwide. The competitiveness of the market has increased because many small- and medium-scale players are entering and expanding their business in the market.

Significant players in the high-pressure die-casting market are,

Georg Fischer AG

Shiloh Industries Ltd

Ryobi Die Casting Inc.

Nemak SAB De CV

Rheinmetall AG (Rheinmetall Automotive, formerly KSPG AG)

Sundaram - Clayton Ltd

Koch Enterprises Inc. (Gibbs Die Casting Group)

Engtek Group

Officine Meccaniche Rezzatesi SpA

Endurance Group

Rockman Industries

Dynacast (Form Technologies Inc.)

Other Reports That Might Be of Your Interest:

Australia Electric Vehicle Market Report - The Australian electric vehicle market value is estimated at USD 6.38 billion in 2023. It is expected to reach USD 26.61 billion by 2028, registering a CAGR of 33.06% during the forecast period (2023-2028).

GCC Electric Vehicle Market Report - The GCC electric vehicle market size is estimated at USD 3.66 billion in 2023. It is expected to reach USD 8.75 billion by 2028, registering a CAGR of 19.03% during the forecast period (2023-2028).

Key Highlights from the High-pressure Die Casting Market Report:

Automotive Segment to Drive the Market

Automobile parts like engine blocks, gearbox housing, clutch shoes, and allow wheels are manufactured using the high-pressure die-casting method. Many die-cast manufacturers are increasing their offerings to cater to the increasing demands of the automotive industry.

Die casting has various use cases in automotive applications like electronic, structural, and engine components. EV producers are integrating large castings into their vehicle structures to improve the life cycle and age of the vehicles.

Asia-Pacific to Witness Highest Growth

China is among the major producers of die-casting parts and occupies a large share of the market in Asia-Pacific. The country’s metal casting industry has over 26,000 facilities, among which 8,000 produce non-ferrous castings.

Foundries in Asia-Pacific are focused on technical quality and brand orientation to gain consumer preference, thus gaining various opportunities in the market.

What are the Latest Developments in the High-pressure Die Casting Market?

In November 2022, Pace Industries closed its two die-casting plants in Muskegon. The company produces aluminum die castings and zinc die castings, among others, for the automotive industry.

In May 2022, GF Casting Solutions announced it will enhance the production of EV products and services.

Mordor Intelligence has Segmented the High-pressure Die Casting Market Based on Raw Material Type, Application, and Geography:

By Raw Material Type (Market Size and Forecast based on Value (USD billion), 2018-2028)

Aluminum

Zinc

Magnesium

By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)

Automotive

Electrical and Electronics

Industrial Application

Other Applications

By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)

North America

United States

Canada

Rest of North America

Europe

Germany

United Kingdom

France

Italy

Rest of Europe

Asia-Pacific

India

China

Japan

South Korea

Rest of Asia-Pacific

Rest of the World

South America

Middle East and Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the High-pressure Die Casting Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

Europe Off-Highway Vehicle HVAC Market Report - The European off-highway vehicle HVAC market size is estimated at USD 631.93 million in 2023. It is expected to reach USD 772.17 million by 2028, registering a CAGR of 4.09% during the forecast period (2023-2028).

Electric Commercial Vehicle Market Report – The electric commercial vehicle market size is estimated at USD 105.66 billion in 2023. It is expected to reach USD 323.73 billion by 2028, registering a CAGR of 25.10% during the forecast period (2023-2028).

Electric Scooter and Motorcycle Market Report - The electric scooter and motorcycle market size is estimated at USD 0.97 billion in 2023. It is expected to reach USD 1.32 billion by 2028, with a CAGR of 6.43% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

Attachment

High-Pressure Die Casting Market - Mordor Intelligence