$8.1 Billion Automotive Magnesium Die Casting Market – Global Trajectory & Analytics to 2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Automotive Magnesium Die Casting – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Automotive Magnesium Die Casting Market to Reach $8.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Automotive Magnesium Die Casting estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$8.1 Billion by 2027, growing at a CAGR of 10% over the analysis period 2020-2027.
Pressure Die Casting, one of the segments analyzed in the report, is projected to record a 10.8% CAGR and reach US$2.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Vacuum Die Casting segment is readjusted to a revised 9.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 13.2% CAGR
The Automotive Magnesium Die Casting market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 13.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 8.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR.
Squeeze Die Casting Segment to Record 10% CAGR
In the global Squeeze Die Casting segment, USA, Canada, Japan, China and Europe will drive the 9.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$654.4 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027, while Latin America will expand at a 11.4% CAGR through the analysis period.
Select Competitors (Total 46 Featured):
- Chicago White Metal Casting, Inc.
- China Precision Diecasting, Inc.
- Georg Fischer AG
- Gibbs Die Casting Corporation
- Kinetic Die Casting Company
- Magic Precision Inc.
- Meridian Lightweight Technologies, Inc.
- Morimura Bros., Inc.
- Pace Industries
- Ryobi Die Casting, Inc.
- Shiloh Industries, Inc.
- Sundaram Clayton Ltd.
- Twin city die casting Co.
For more information about this report visit https://www.researchandmarkets.com/r/fds6nx
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