Company projects growth in die-casting sector

5th March 2021

     

Font size: - +

T

echnology research and advisory company Technavio expects the aluminium die-casting machinery market size to grow by $1.21-billion during the period 2020 to 2024.

"One of the primary growth drivers for this market is the benefits offered by aluminium die-casting machinery,” says a Technavio industrials senior analyst.

According to the report, the aluminium die-casting machinery market is expected to post a year-on-year growth rate of 3.78% with 69% of the growth originating from Asia Pacific.

The presence of a large base of automotive components manufacturers, increasing prevalence of aerospace and defence equipment manufacturers, and growing production of neighbourhood electric vehicles (EVs) in China will significantly drive the aluminium die-casting machinery market growth in this region over the forecast period.

China and Japan are the key markets for aluminium die-casting machinery in the Asia Pacific. Market growth in this region will be faster than the growth of the market in other regions.

The aluminium die-casting machinery market size is expected to accelerate at a compound annual growth rate of over 5% during the forecast period and is segmented by product and geography. As mentioned in the report, the market is fragmented owed to the presence of many established vendors holding significant market share.

“Better surface finish and tight tolerance of aluminium die-cast parts produced by high pressure die-casting (HPDC), high efficacy of HPDC in critical applications, and the increasing demand for neighbourhood EVs are expected to boost the growth of the market segment during the forecast period.”

Additionally, the report also adds that market growth in this segment will be slower than the growth of the market in the low pressured die-casting and other segments.

Moreover, there is a preference for die-casting machinery over sand casting and forging, to manufacture metal products, because of its ability to produce lightweight metal parts with a quality surface finish.

Edited by Zandile Mavuso
Creamer Media Senior Deputy Editor: Features

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION