PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1577029
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1577029
Automotive Casting Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global Automotive Casting Market was valued at USD 72.03 billion and is projected to grow at a CAGR of 5.8% from 2024 to 2032. Increasing automotive production drives market growth, fueled by rising global vehicle demand due to population growth and urbanization, especially in developing nations. Economic advancements in China, India, and Brazil have spurred domestic vehicle production, and as living standards rise, more consumers can afford vehicles. The automotive industry is investing in plant expansions and new technologies like automation and robotics to boost production efficiency and capacity. Government policies and incentives favoring manufacturing are also amplifying automotive production, increasing the demand for automotive castings essential in vehicle manufacturing.
The overall automotive casting industry is classified based on the vehicle, process, application, distribution channel, and region.
The market segments vehicle types into passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers. In 2023, passenger cars led the market with revenues surpassing USD 65 billion, projected to exceed USD 105.1 billion by 2032. High production volumes and strong consumer demand drive the need for cast components like engine blocks, structural parts, and transmission cases. This segment quickly adopts advanced casting technologies and materials, driven by consumer preferences for better performance, fuel efficiency, and safety. Stringent regulations on fuel efficiency and emissions further drive the need for innovative casting solutions. Ongoing customization, frequent model updates, and stable aftermarket demand for replacement parts and repairs solidify the dominance of passenger vehicles in the casting market.
The market segments materials into iron, steel, aluminum, and others. Aluminum emerged as the leading segment, commanding a 63% market share, and is projected to grow at a CAGR of 5.8% through 2032. Aluminum's dominance stems from its lightweight nature, which reduces vehicle weight and enhances fuel efficiency. Its superior strength-to-weight ratio ensures durability and safety, while corrosion resistance extends the lifespan of automotive parts. Aluminum's flexibility facilitates the casting of intricate shapes, making it ideal for innovative automotive components. Its recyclability aligns with the industry's environmental goals.
In 2023, the Asia-Pacific automotive casting market was valued at approximately USD 72 billion and is projected to reach USD 119.16 billion by 2032. Rapid industrialization and urbanization in China and India have increased vehicle production and demand. The region's strong automotive manufacturing base, supported by numerous OEMs and suppliers, drives market growth. Significant investments in technology and infrastructure, coupled with lower labor and production costs, provide the region with a competitive advantage. Government policies and incentives aimed at bolstering the automotive sector, alongside a commitment to producing lighter and more fuel-efficient vehicles, reinforce Asia-Pacific's leading position in the market.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definition
- 1.2 Base estimates and calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2018 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Stringent Emission Regulations
- 3.2.1.2 Increasing Automotive Production
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 High cost of casting materials
- 3.2.1 Growth drivers
- 3.3 Technology and innovation landscape
- 3.4 Growth potential analysis
- 3.5 Regulatory landscape
- 3.6 Pricing analysis
- 3.7 Porter's analysis
- 3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Vehicle, 2021 - 2032, (USD Billion) (Kilo tons)
- 5.1 Key trends
- 5.2 Passenger cars
- 5.3 Light commercial vehicles
- 5.4 Heavy commercial vehicles
- 5.5 Two wheelers
Chapter 6 Market Estimates and Forecast, By Material, 2021 - 2032, (USD Billion) (Kilo tons)
- 6.1 Key trends
- 6.2 Iron
- 6.3 Steel
- 6.4 Aluminum
- 6.5 Others
Chapter 7 Market Estimates and Forecast, By Process 2021 - 2032, (USD Billion) (Kilo tons)
- 7.1 Key trends
- 7.2 Sand casting
- 7.3 Die casting
- 7.4 Investment casting
- 7.5 Others
Chapter 8 Market Estimates and Forecast, By Application 2021 - 2032, (USD Billion) (Kilo tons)
- 8.1 Key trends
- 8.2 Engine
- 8.3 Transmission and suspension
- 8.4 Brakes and wheels
- 8.5 Others
Chapter 9 Market Estimates and Forecast, By Distribution channel, 2021 - 2032, (USD Billion) (Million units)
- 9.1 Key trends
- 9.2 OEM
- 9.3 Aftermarket
Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032, (USD Billion) (Kilo tons)
- 10.1 Key trends
- 10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
- 10.4.6 Malaysia
- 10.4.7 Indonesia
- 10.4.8 Rest of Asia Pacific
- 10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
- 10.6 MEA
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 South Africa
- 10.6.4 Rest of MEA
Chapter 11 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
- 11.1 Bell Foundry
- 11.2 Buhler AG
- 11.3 CFS Foundry
- 11.4 Dawang Steel Castings
- 11.5 Dynacast, Ryobi
- 11.6 Endurance Technologies
- 11.7 Gibbs Die Casting
- 11.8 Impro, Zetwerk
- 11.9 Martinrea International, Inc
- 11.10 Regensburger Druckgusswerk Wolf GmbH
- 11.11 Ryobi
- 11.12 Sunrise Metal
- 11.13 Zetwerk
- 11.14 Zollern GmbH
