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Global High Pressure Die Casting Market to Grow at a CAGR of 6.68% During 2022-2027, Aided by Advancements in Digital Technologies

According to a new report by EMR titled, ‘Global High Pressure Die Casting Market Report and Forecast 2022-2027’, the market is estimated to grow at a CAGR of 6.68% in the forecast period of 2022-2027.

The global market for high pressure die casting is being driven by the rising adoption of digital technology to optimise the casting process. With the development and ubiquities of AI and cloud computing, relevant data is stored in a cloud based platform, which is then evaluated using AI driven business applications that provide insights to products and leads way for innovations, thereby augmenting the market growth. In addition to this, AI and Big data are increasingly employed to run predictive analysis on maintenance of autonomous machines operating on IoT technology. Hence, these are some of the factors augmenting the growth of the market.

In December 2020, DGS Druckguss Systeme AG, a leading company in the global market for high pressure die casting, announced an investment in a new 4400 to high pressure die casting machine. The HP-DC machine is designed for large structural, battery, or chassis casting parts for the automotive industry. Further, vacuum supported high pressure die casting parts can be made from aluminium along with magnesium in a parallel series casting process. Such developments by leading market players are stimulating the growth of the market. The market growth can further be associated with the expansion strategies employed by key players of automotive industry, such as Hyundai Motor Company (OTCMKTS: HYMTF).

Market Analysis by Raw Material, Application, and Region:

  • On the basis of raw material type, the market can be divided into aluminum, zinc, and magnesium.
  • The market, based on application, can be segmented into automotive, electrical and electronics, and industrial applications, among others.
  • The major regional markets for high pressure die casting include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by its growing applications in the automotive industry for the production of engine blocks, gearbox casings, oil slumps, and structural parts like cross-car beams, among other automobile parts.
  • High pressure die casting eliminates the need for assembly or welding along with the added advantage of achieving a broader range of shapes, thereby stimulating the market growth. 
  • The rising demand for aluminum as a raw material in high pressure die casting process for applications in the construction and automotive sectors is bolstering the market growth.
  • In addition to the lightweight composition of aluminium, the growing demand can also be associated with stringent government regulations to reduce the weight of vehicles to reduce carbon and GHG emissions.

Key Offerings of the Report:

  • The EMR report gives an overview of the global high pressure die casting industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for raw materials, applications, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global high pressure die casting market are Dynacast, Koch Enterprises Inc., Endurance Group, Ryobi Die Casting Inc., Shiloh Industries Ltd, and Georg Fischer AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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