Metal Casting Market Opportunities with Advanced Technology and Forecast to 2031
metal casting market was valued at $129.5 billion in 2021, and is projected to reach $226.8 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031
OREGON, PORTLAND, UNITED STATES, February 8, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global metal casting market was estimated at $129.5 billion in 2021 and is expected to hit $226.8 billion by 2031, registering a CAGR of 5.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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The key market players analyzed in the global metal casting market report Dynacast International, ahresty corporation, Rheinmetall Ag, Ryobi Die Casting (USA), Inc., Georg Fischer Ltd., Nemak, Aisin World Corp. of America, Endurance Technologies Limited, MINO Industry USA, Inc, Dawang Steel Casting Foundry, GIBBS, Gujarat Precision Cast Pvt. Ltd., Omnidex Group, RFQLINE, INC, and Sujan Industries. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Its increased dependency on the marine, aerospace, and automotive sectors impacted the global metal casting market negatively, especially during the initial period.
However, as the lockdowns were lifted and the manufacturing units started resuming their operations, the market for metal casting also started getting back on track.
The global metal casting industry is analyzed across end-user industry, process, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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Based on end-user industry, the automotive segment accounted for the major share in 2021, holding nearly two-fifths of the global market. The same segment would also grow at the fastest CAGR of 6.3% throughout the forecast period.
Based on process, the sand-casting segment generated the highest share in 2021, accounting for nearly one-third of the global market. The same segment is also projected to manifest the fastest CAGR of 6.2% from 2022 to 2031.
Based on region, the market across Asia-Pacific held the lion’s share in 2021, garnering nearly two-thirds of the global market. The same region is also expected to cite the fastest CAGR of 6.2% by 2031. The other provinces studied in the report include Europe, North America, and LAMEA.
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