Market Synopsis
The Global Aluminum Die Casting Machinery Market 2020 is expected to witness substantial growth and cross USD 1.5 Billion by 2025 at a projected CAGR of 6%.
Market Overview
The aluminum die-casting machine market is growing globally as aluminum is increasingly being used in the automotive , aerospace, construction and power industries around the world. Aluminum has several qualities which make it more suitable for use in the manufacturing of automobiles than steel. While steel is cheaper, it is more substantial, resulting in reduced fuel economy. Automotive parts manufacturers, particularly those in developed countries, increasingly incorporate lightweight aluminum die casting machinery and metal parts into their products to advance the overall fuel efficiency. Aluminum die casting machines and metal die casting components give various advantages. This increases their adoption and thus drives the global casting machinery market for aluminum die casting. Environmental pollution is currently becoming a matter of great concern in society. The transport sector is an important polluting contributor. A majority of countries around the world are focusing on introducing electrification of transport solutions and banning fossil-fuel vehicles in order to reduce pollution levels. Thus, the transition from traditional vehicle models to new energy vehicles has increased the demand for aluminum die casting machines and metal pieces, thus fostering the growth of the market for aluminum die casting machines.
The malevolence of aluminum even for intricate patterns lends itself to die casting. Although initial investment requirements for the production of die-casting machines for aluminum are high, demand is rising, especially for specific aluminum parts. Aluminum die-casting machines use less power than die-casting machines made of steel, which also drives market growth. Aluminum is also easily recyclable and further contributes to high demand , particularly in the packaging industry.
Segmentation
The segments of the product type are casting die with high pressure (HPDC), casting die with low pressure (LPDC), and others. Owing to the unprecedented casting cycle time provided by these devices, the high-pressure die casting (HPDC) segment accounts for more than 70 per cent of market share, making it the largest segment.
The automotive segment is the largest because in automotive manufacturing aluminum parts are gradually replacing iron and steel components. Aluminum is a lightweight metal that greatly enhances vehicle fuel efficiency, a factor driving segment growth.
Key Players
The key players of the Global Aluminum Die Casting Machine market are K. Technology Holdings Limited (Hong Kong), Buhler AG (Switzerland), Toshiba Machine Co., Ltd (Japan), Ube Industries, Ltd (Japan), TOYO Machinery & Metal (Japan), Walbro (US), Alcast Company (US), Consolidated Metco, Inc. (US), Zitai Precision Machinery Co., Ltd (Taiwan), Gibbs Die Casting Corp. (US), Idra Group Ltd (Italy), Frech (EN) (Germany), and HMT Machine Tools Limited (India).
Regional Assessment
Due to the increasing demand for die-cast aluminum in the power, construction, automotive , aerospace and packaging industries in the region, the North American market for die-casting machinery is growing.
The growth of the European market for die-casting machines is driven by the presence of production hubs in Germany and the UK, where aluminum is widely used in the manufacture of automobiles, packaging and kitchen utensils.
The biggest regional market for aluminum die-casting machines, power infrastructure development and a large market for aluminum utensils are driving the region's market growth. In addition, in the region which is the largest in the world, aluminum is increasingly being used in the automotive industry.
The rest of the world is a small regional market, where growth is driven primarily by local utensil demand and power infrastructure expansion. In addition, Africa has vast reserves of bauxite which can serve to boost the growth of the region's aluminum die-casting machine market.
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