Aluminum Casting Market size is expected to reach USD 135.20 billion by 2030

 Aluminum Casting Industry Overview

The global aluminum casting market size is expected to reach USD 135.20 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2022 to 2030. Rising demand for lightweight vehicles is anticipated to propel market growth as the product is used in manufacturing various auto components.

 

Aluminum Casting Market Segmentation

Grand View Research has segmented the global aluminum casting market on the basis of process, application, and region:

Based on the Process Insights, the market is segmented into Die Casting, Permanent Mold Casting, Others

  • The die casting segment accounted for the largest volume share of over 50.0% in 2021 owing to the rising demand for aluminum casting products in the automotive sector. Die casting is used to manufacture various auto parts such as engines, cylinders, gears, and flywheels, which are used in high-end vehicles to mass-produce vehicles. This is owing to factors such as the low cost of die casting and strict CO2emission laws being laid down around the world.
  • Aluminum die casting is further segmented into pressure die casting and others. The distinct characteristics offered by pressure die casting such as smooth surface finish, easy filling of cavity, strong mechanical properties, and tighter dimension tolerance are expected to assist segment growth, especially in the automotive sector. The others category includes vacuum and squeeze die casting.
  • Permanent mold casting is a process to manufacture a large number of cast products using a single mold structure that is made from high-temperature withstanding materials, such as cast iron and die steel. The finished product from permanent mold casting has a superior finish with high dimensional tolerance, which makes it suitable for the manufacturing of motorsport and recreational vehicle components.

 

Based on the Application Insights, the market is segmented into Transportationn Industrial Building & Constructionn Others

  • The transportation application segment accounted for the largest revenue share of over 55.0% in 2021. The growth is attributed to the increasing demand for lightweight vehicles and aircraft globally. Sports vehicle is among the most lucrative segments in the lightweight vehicle sector. 
  • In the industrial application segment, construction equipment is likely to observe strong growth in the years to come owing to rigorous infrastructure development across the globe. Asia Pacific has observed a surge of Chinese construction equipment manufacturers such as XCMG and Sany in this segment over the past decade, which is likely to result in steady demand for aluminum casting products.
  • The building and construction segment is anticipated to exhibit a CAGR of 3.3% in terms of volume from 2022 to 2030 owing to the increasing use of aluminum casting products in houses. Aluminum casting can be employed in various applications such as roofing, door handles, windows, and curtain walling. The rising replacement of iron and steel due to changing consumer preferences and the benefits of aluminum, such as lightweight and aesthetic appeal, are anticipated to drive the market over the coming years.

 

Aluminum Casting Regional Outlook 

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

The market is competitive and is likely to expand on account of the growing penetration of aluminum castings in EVs. For instance, in September 2020, Tesla announced the installation of aluminum casting machines for the production of chassis at a German plant, for increasing its EV production. This enables the company to leverage the market growth.

Some prominent players in the global aluminum casting market include:

  • Walbro
  • Alcoa Corporation
  • Consolidated Metco, Inc.
  • BUVO Castings
  • RDW Wolf, GmbH
  • Georg Fischer Ltd.
  • Dynacast
  • GIBBS
  • Ryobi Limited
  • Martinrea Honsel Germany GmbH
  • Bodine Aluminum
  • Alcast Technologies
  • Endurance Technologies Limited
  • Aluminum Corporation of China Limited

 

Order a free sample PDF of the Aluminum Casting Market Intelligence Study, published by Grand View Research. 

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