Global iron castings market
Author: Sharon Date: 2016-3-25 15:55:14
The global iron castings market to grow at a moderate CAGR of more than 6% during the forecast period. The rapid growth in the automotive industry sector is one of the key factors driving the growth of the iron castings market during the forecast period. The automotive industry is one of the prime end-users of iron castings owing to its extensive applications in the manufacture of engine parts,gears and bushings,suspension,brakes,steering,and crankshafts. Moreover,the economic recovery in the US and Europe has led to increased consumer spending on automobiles. This demand will compel automotive manufacturers to increase their production capacities,thereby propelling the growth prospects of the iron castings market in the coming years.