Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Steel Casting Market Outlook

The global steel casting market is projected to grow at a CAGR of 5% during 2024-2032.

Global Steel Casting Market

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The high design flexibility that steel casting offers provide end-users the freedom to choose the application-based casting shape and size. Steel casting also provides metallurgical versatility and enhanced weldability and high-temperature workability. The products of steel casting are more reliable than other castings of metal. The decreased shipping time and increased steel casting productivity is expected to propel the steel casting market forward. These superior steel casting characteristics will increase their demand for multiple applications in the end-user sectors and thus increase the development of the market.

Market Segmentation

Steel casting is a specialized type of casting integrating different steel forms. Steel casting is used when cast iron is unable to provide sufficient power or resistance to shock. 

Global Steel Casting Market By Application

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The steel casting market can be divided on the basis of application into:

  • Mining 
  • Power 
  • Oil and Gas
  • Others

The EMR report looks into the regional markets of steel casting like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Global Steel Casting Market By Region

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Market Analysis

The combination of automated robots and computer numerical tools in casting machines enable the production of high-quality, reliable, and accurate casting products. The implementation of automated casting equipment will also increase with the rising demand for improved productivity in the manufacturing sectors, including the automotive industries. Thus, aiding the growth of the steel casting market. One of the critical market trends for steel casting will be the introduction of automation in the die-casting method, which will have a beneficial effect on the market growth.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global steel casting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Precision Castparts Corp. (Berkshire Hathaway Inc.) (NYSE: BRK.A)      
  • Hitachi Metals Ltd.  
  • Japan Casting & Forging Corp. 
  • Kobe Steel Ltd.  
  • Peekay Steel Castings Pvt. Ltd.    
  • Others 

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • Region
Breakup by Application
  • Mining
  • Power
  • Oil and gas
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Precision Castparts Corp. (Berkshire Hathaway Inc.)
  • Hitachi Metals Ltd.
  • Japan Casting & Forging Corp.
  • Kobe Steel Ltd.
  • Peekay Steel Castings Pvt. Ltd.
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is projected to grow at a CAGR of 5% between 2024 and 2032.

The major drivers of the market include combination of automated robots and computer numerical tools in casting machines, improved productivity in the manufacturing sectors and automation in the die-casting method.

The introduction of automation in the die-casting method is expected to be a key trend guiding the growth of the market.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Steel casting finds applications in mining, power, and oil and gas, among others.

The major players in the market are Precision Castparts Corp. (Berkshire Hathaway Inc.), Hitachi Metals Ltd., Japan Casting & Forging Corp., Kobe Steel Ltd., and Peekay Steel Castings Pvt. Ltd., amongst others.

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