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The Metal Casting Market was worth USD 143.69 Billion in 2022 and is expected to rise to USD 225.48 Billion by 2030, with a CAGR of 6.8% between 2023 and 2030.
Transportation, heavy machinery, machine tools, plant machinery, defense, electrical equipment machines, hardware, residences, and art are just some of the many applications for metal castings. Rising demand from new sectors is driving the metal casting industry to new heights. Half of all metal castings sold are used in the transportation and heavy equipment industries. The metal casting industry is growing because the body assembly component is essential in the manufacturing of cars. As X-ray casting fault detection technologies become increasingly popular, the global metal casting market is expected to grow significantly over the forecast period. Metal casting is anticipated to grow as a result of technological advancements in process inspection, such as digital imaging and radiography. In response to the deteriorating environmental conditions and the need to reduce waste and operational costs, manufacturers have created simulation-based castings.
Market Segmentation for Metal Castings
In 2022, automotive & transportation was the largest metal casting application category, and it is anticipated to grow at a CAGR of 5.4%. Production of autos around the world has increased slowly but steadily over the past few years, which is a very positive sign. In 2022, global auto production grew by 2.3%, as reported by the International Organization of Motor Vehicle Manufacturers. Car manufacturers and their suppliers must keep the lightweight properties of aluminum in mind.
The industrial sector controlled 28.4% of the market in 2022. Metal valves and gaskets, decanters, air injection tubes, flanges, radiation protection tubes, coal throw pipes, air injection tubes, rollers, collectors, elbows, and bends are just a few of the industrial goods that utilize iron and steel. The rise of the industrial category is expected to be driven by the development of the manufacturing sectors in China and other emerging economies.
A Study of the Metal Casting Industry by Raw Material
In 2022, iron casting accounted for 69.4 percent of the market. Emerging markets are expected to account for a sizeable share of this market's demand, especially in the automotive, construction, and oil & gas sectors. Finished casting products are likely to be a focal point for investors. The production of iron castings increased by 0.8% compared to the previous year, as reported by the World Foundry Organization. It was 156.58 kilotons in weight. The output of ductile iron and grey iron metal products increased by 1.1% and 1.3%, respectively.
Lightweight metals like magnesium and aluminum are in high demand, which might be good news for market sellers. Lightweight material manufacturing is anticipated to rise during the forecast period as a result of rising demand for energy efficiency and tighter pollution regulations. These materials aid in lowering fuel costs because of the lightweight nature of vehicle components. Over the forecast period, the aluminum casting market is anticipated to grow at a CAGR of 9.3 percent.
Indicators of Growth in the Metal Casting Industry
Boosting Market Expansion by Increasing Industrialization and Infrastructure Development
Metal castings are in high demand because of rising investment in manufacturing and transportation systems. The need for metal castings in industries including the automotive, construction, energy, and machinery manufacturing industries grows as countries industrialize. Metal castings are in high demand because of the increasing number of construction projects that require them. Metal castings are in high demand because of the constant need for maintenance and repair of already built structures like bridges, railroads, and pipelines. For the sake of the infrastructure's lifespan and stability, it is imperative that aged and worn-out parts be replaced with metal castings that can withstand the test of time.
Constraints on the Metal Casting Industry
Lack of Qualified Workers to Stifle Economic Development
Expertise in casting methods, mold building, and metallurgy are all necessary for success in the metal casting sector. However, a lack of qualified labor in some areas can stifle a metal casting company's expansion. Longer lead times, reduced productivity, and challenges maintaining consistent quality standards might result from a lack of competent labor.
Report Coverage
Global Metal Casting research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Metal Casting report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Metal Casting competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Metal Casting market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Metal Casting market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Metal Casting market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Alcoa Corporation (United States), Thyssenkrupp AG (Germany), General Electric Company (United States), Nemak (Mexico), Buhler AG (Switzerland), Bharat Forge Limited (India), Hitachi Metals, Ltd. (Japan), Arconic Inc. (United States), CITIC Dicastal Co., Ltd. (China), Xinxing Ductile Iron Pipes Co., Ltd. (China), Amsted Industries Incorporated (United States), China First Heavy Industries (CFHI) (China), Weichai Group (China), Grupo Industrial Saltillo (Mexico), Neenah Foundry Company (United States), Metal Technologies Inc. (United States), Ryobi Limited (Japan), Aisin Takaoka Co., Ltd. (Japan), Waupaca Foundry, Inc. (United States), Gibbs Die Casting Corp. (United States), Kocel Machinery Co., Ltd. (China), Shiloh Industries, Inc. (United States)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Metal Casting market based on the below-mentioned segments:
Global Metal Casting Market, By Material
Iron, Steel
Aluminum
Others
Global Metal Casting market, By Application
Automotive & Transportation
Industrial
Building & Construction
Others
Global Metal Casting market, Regional Analysis
Transportation, heavy machinery, machine tools, plant machinery, defense, electrical equipment machines, hardware, residences, and art are just some of the many applications for metal castings. Rising demand from new sectors is driving the metal casting industry to new heights. Half of all metal castings sold are used in the transportation and heavy equipment industries. The metal casting industry is growing because the body assembly component is essential in the manufacturing of cars. As X-ray casting fault detection technologies become increasingly popular, the global metal casting market is expected to grow significantly over the forecast period. Metal casting is anticipated to grow as a result of technological advancements in process inspection, such as digital imaging and radiography. In response to the deteriorating environmental conditions and the need to reduce waste and operational costs, manufacturers have created simulation-based castings.
Market Segmentation for Metal Castings
In 2022, automotive & transportation was the largest metal casting application category, and it is anticipated to grow at a CAGR of 5.4%. Production of autos around the world has increased slowly but steadily over the past few years, which is a very positive sign. In 2022, global auto production grew by 2.3%, as reported by the International Organization of Motor Vehicle Manufacturers. Car manufacturers and their suppliers must keep the lightweight properties of aluminum in mind.
The industrial sector controlled 28.4% of the market in 2022. Metal valves and gaskets, decanters, air injection tubes, flanges, radiation protection tubes, coal throw pipes, air injection tubes, rollers, collectors, elbows, and bends are just a few of the industrial goods that utilize iron and steel. The rise of the industrial category is expected to be driven by the development of the manufacturing sectors in China and other emerging economies.
A Study of the Metal Casting Industry by Raw Material
In 2022, iron casting accounted for 69.4 percent of the market. Emerging markets are expected to account for a sizeable share of this market's demand, especially in the automotive, construction, and oil & gas sectors. Finished casting products are likely to be a focal point for investors. The production of iron castings increased by 0.8% compared to the previous year, as reported by the World Foundry Organization. It was 156.58 kilotons in weight. The output of ductile iron and grey iron metal products increased by 1.1% and 1.3%, respectively.
Lightweight metals like magnesium and aluminum are in high demand, which might be good news for market sellers. Lightweight material manufacturing is anticipated to rise during the forecast period as a result of rising demand for energy efficiency and tighter pollution regulations. These materials aid in lowering fuel costs because of the lightweight nature of vehicle components. Over the forecast period, the aluminum casting market is anticipated to grow at a CAGR of 9.3 percent.
Indicators of Growth in the Metal Casting Industry
Boosting Market Expansion by Increasing Industrialization and Infrastructure Development
Metal castings are in high demand because of rising investment in manufacturing and transportation systems. The need for metal castings in industries including the automotive, construction, energy, and machinery manufacturing industries grows as countries industrialize. Metal castings are in high demand because of the increasing number of construction projects that require them. Metal castings are in high demand because of the constant need for maintenance and repair of already built structures like bridges, railroads, and pipelines. For the sake of the infrastructure's lifespan and stability, it is imperative that aged and worn-out parts be replaced with metal castings that can withstand the test of time.
Constraints on the Metal Casting Industry
Lack of Qualified Workers to Stifle Economic Development
Expertise in casting methods, mold building, and metallurgy are all necessary for success in the metal casting sector. However, a lack of qualified labor in some areas can stifle a metal casting company's expansion. Longer lead times, reduced productivity, and challenges maintaining consistent quality standards might result from a lack of competent labor.
Report Coverage
Global Metal Casting research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Metal Casting report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Metal Casting competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Metal Casting market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Alcoa Corporation (United States), Thyssenkrupp AG (Germany), General Electric Company (United States), Nemak (Mexico), Buhler AG (Switzerland), Bharat Forge Limited (India), Hitachi Metals, Ltd. (Japan), Arconic Inc. (United States), CITIC Dicastal Co., Ltd. (China), Xinxing Ductile Iron Pipes Co., Ltd. (China), Amsted Industries Incorporated (United States), China First Heavy Industries (CFHI) (China), Weichai Group (China), Grupo Industrial Saltillo (Mexico), Neenah Foundry Company (United States), Metal Technologies Inc. (United States), Ryobi Limited (Japan), Aisin Takaoka Co., Ltd. (Japan), Waupaca Foundry, Inc. (United States), Gibbs Die Casting Corp. (United States), Kocel Machinery Co., Ltd. (China), Shiloh Industries, Inc. (United States) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Metal Casting Market from 2021 to 2030.
- Market Forecast for Metal Casting Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Metal Casting competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Metal Casting
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Metal Casting market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Metal Casting market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Alcoa Corporation (United States), Thyssenkrupp AG (Germany), General Electric Company (United States), Nemak (Mexico), Buhler AG (Switzerland), Bharat Forge Limited (India), Hitachi Metals, Ltd. (Japan), Arconic Inc. (United States), CITIC Dicastal Co., Ltd. (China), Xinxing Ductile Iron Pipes Co., Ltd. (China), Amsted Industries Incorporated (United States), China First Heavy Industries (CFHI) (China), Weichai Group (China), Grupo Industrial Saltillo (Mexico), Neenah Foundry Company (United States), Metal Technologies Inc. (United States), Ryobi Limited (Japan), Aisin Takaoka Co., Ltd. (Japan), Waupaca Foundry, Inc. (United States), Gibbs Die Casting Corp. (United States), Kocel Machinery Co., Ltd. (China), Shiloh Industries, Inc. (United States)
Primary Target Market
- Market Players of Metal Casting
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Metal Casting market based on the below-mentioned segments:
Global Metal Casting Market, By Material
Iron, Steel
Aluminum
Others
Global Metal Casting market, By Application
Automotive & Transportation
Industrial
Building & Construction
Others
Global Metal Casting market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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