Technavio’s market research analysts have estimated the global aluminum die casting machinery market to grow steadily at a CAGR of around 7% by 2020. This market research analysis identifies the growing market for light weight vehicles to reduce CO₂ emissions as one of the primary drivers for growth in this market. Recent government regulations on vehicle emission standards have induced automotive manufacturers to shift their focus to the use of light-weight metals for producing automobile parts. Light-weight vehicles result in lesser fuel consumption rates thereby reducing CO2 emissions. Moreover,light-weight aluminum parts reduce production costs and offer more durability. This rise in demand for the need of light-weight automobiles will augment the necessity of aluminum die cast components,which will create a potential demand for aluminum die cast machinery.
The growing demand from the automotive industry has compelled die casting machine manufacturers to incorporate various simulation-based software in their offerings. Simulation-based manufacturing results in reduced wastage and operational costs. Additionally,they can also predict defects and their location easily and more precisely than the conventional method. This adoption of simulation-based castings is considered to be one of the major trends that will gain traction in this market in the coming years.
Product segmentation and analysis of the aluminum die casting machinery market
HPDC (high-pressure die casting)
LPDC (low-pressure die casting)
GDC (gravity die casting)
During 2015,the HPDC segment dominated the aluminum die casting machinery market and accounted for about 70% of the total market share. Though tooling costs are significantly high,this pressure die casting process enables industries to attain superior quality finished products that are thin-walled and lightweight. Moreover,casting tolerances are low that reduces the need for machining. This ensures that the output is in a near-to-finish state,making it highly preferable compared to other processes.
In this market study,analysts have predicted that APAC will dominate the aluminum die casting machinery market during the forecast period and account for more than 71% of the total market share by 2020. Due to its low raw material prices and comparatively cheap labor cost,APAC induced major casting manufacturers to consolidate their business in its region. Factors such as advancements in technology and the demand for highly durable and affordable automotive parts will propel the growth of the market in the next four years.
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