Die Casting Machines Market Expected to Reach $4.9 Billion by 2030

According to a new report published by Allied Market Research, titled, “Die Casting Machines Market" size was $2.7 billion in 2020, and is estimated to reach $4.9 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030. In 2020, the cold chamber segment accounted for the highest die casting machines market share and gravity die casting machines is expected to witness significant growth during the forecast period, owing to increase in demand in demand from machinery manufacturing and automotive industry. 

The market is analyzed with respect to different applications in industrial verticals such as transportation, mechanical & manufacturing equipment, building & construction and others. The market is mainly driven by growth of the global manufacturing industry and increase in investment in automotive, electronics and defense industry. However, volatility of raw materials can limit the growth of the market. In 2020, the Asia-Pacific market dominated the global die casting machines market, in terms of revenue, accounting for around half the share of the die casting machines industry. Moreover, the market in Asia-Pacific region is witnessing growth at a high CAGR, owing to growth of manufacturing and automotive industry in emerging countries. The rising demand for automobiles, electronic products and home appliances has significantly increased the use of metals and alloys, attributed to their versatility of use and physical properties. This has driven the die casting machines market growth, owing to its capability to efficiently cast metals in required shapes and sizes. Furthermore, growth of the construction industry has positively influenced the die casting machines market. In addition, various government initiative and free trade agreements across the globe have propelled manufacturing activities, thereby fueling the demand for die casting machines.

Furthermore, on the basis of end user, the mechanical & manufacturing equipment industry is anticipated to grow rapidly, owing to rapid growth of manufacturing industry fueled by supportive government initiatives and various free trade agreements. For instance, according to India Brand Equity Foundation, the Indian consumer electronics market is expected to reach $21.2 billion by 2025, up from $10.93 billion in 2019. Furthermore, in November 2020, 15 countries from the Asia-Pacific region signed the Regional Comprehensive Economic Partnership (RCEP), which is a free trade agreement that is anticipated to boost various manufacturing industries in the region. These factors significantly boost the demand for various manufacturing machineries and equipment, thereby positively influencing the market. 

However, during the pandemic lockdown, various manufacturers in the die casting machines market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of die casting machine manufacturing companies. In addition, lack of manpower and raw materials also constricted supply of die casting components, and has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to recovery of die casting machines companies.

The global die casting machines market is segmented on the basis of type, material, end-user, and region. By type, it is divided into cold chamber die casting machine, hot chamber die casting machine, and gravity die casting machine. By material, the market is divided into aluminum, zinc, magnesium, and others. By end-user, it is segmented into transportation, mechanical & manufacturing equipment, building & construction, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is projected to experience growth during the forecast period owing to expansion of the automotive sector in the region.

The key players profiled in the die casting machines report include Agrati AEE Srl, Bühler AG, Form Technologies, L.K. Machinery International Limited, Norican Global A/S, Oskar Frech GmbH + Co. KG, Shibaura Machine Co., Ltd., Toyo Machinery & Metal Co., Ltd., UBE, and Zitai Precision Machinery Co., Ltd.

 KEY FINDINGS OF THE STUDY
•    The report provides an extensive analysis of the current and emerging die casting machines market trends and dynamics.  
•    Depending on type, the cold chamber die casting machine dominated the die casting machines market, in terms of revenue in 2020 and the gravity die casting machines segment is projected to grow at a significant CAGR during the forecast period.
•    By end user, the transportation segment registered highest revenue in 2020.
•    By region, Asia-Pacific is projected to register highest growth rate in the coming years. 
•    The key players within the die casting machines market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive the outlook of the die casting machines industry. 
•    The report provides an extensive analysis of the current trends and emerging die casting machines market opportunities.  
•    In-depth die casting machines market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.