(EMAILWIRE.COM, July 26, 2019 ) The Metal Casting Market is estimated to be USD 18.73 Billion in 2016 and is projected to grow at a CAGR of 8.87% during the forecast period, to reach USD 39.94 Billion by 2025.

Structural & design changes, increasing trend of light-weighting in passenger cars (such as increase in use of alloy wheels, lightweight engine blocks, & seat frames etc.) as a result of stringent emission norms, and benefits offered by casting process such as higher precision, accuracy, shorter cycle time, and excellent surface finish are expected to drive the market for metal casting during the forecast period.

Some of the key metal casting component manufacturers and suppliers include Nemak (Mexico), Ryobi Limited (Japan), Rheinmetall Automotive (Germany), GF Automotive (Switzerland), Ahresty Corporation (Japan), Dynacast (US), Endurance (India), Mino Industrial (Japan), Aisin Automotive Casting (US) (a subsidiary of Aisin Seiki (Japan)), and Gibbs Die Casting (US).

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=23885716

The engine parts application is estimated to lead this market during the forecast period. Cylinder heads, engine block, engine mounts, exhaust manifold, intake manifold, oil pan, and turbochargers are some of the key components considered under this application. With the rising trend of vehicle light-weighting, the casted iron engine block is replaced by aluminum engine block for further weight reduction. BMW, PSA Group, and General Motors among others are offering their vehicle models with aluminum engine blocks. Further, as per the US Department of Energy (US DOE), by using lightweight components, a quarter of US fleet, which is around 240 million (cars and trucks), can save approximately 5 billion gallons of fuel per year by 2030. Furthermore, as per MarketsandMarkets analysis, V6 and V8 engines are preferred in US & Canada owing to higher demand for SUVs. The European and Asia Oceania markets have a higher demand for I4 and I3 & I4 engines, respectively. Thus, as the engines are getting bigger and complex with turbocharging capabilities, the demand for aluminum casted engine parts is expected to rise in the future.

Aluminum is estimated to hold the largest share of this market from 2017 to 2025. Engine downsizing is a key trend that is changing the market dynamics of the automotive industry. The engine is becoming bigger and complex with additional turbo capabilities to generate more power. As per a study published by the European Aluminium Association, the average aluminum content in a passenger car was around 150 kg in 2015. While the engine and transmission parts together contributed 36%, wheels owned 20%. The same study suggests that the aluminum content is expected to reach 180 kg by 2020. The demand for aluminum cast components for powertrain and body assemblies is thus projected to rise in the coming years.

Request for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=23885716

Asia Oceania is projected to be the largest and fastest-growing market, in terms of volume and value during the review period. The Asia Oceania region is anticipated to be the most promising market for metal casting in the next eight years owing to the increased production of passenger cars as well as electric vehicles. China is the largest automotive hub in the region owing to the presence of many local as well as international OEMs such as Brilliance Auto, JAC Motors, SAIC Motor, Volkswagen, and General Motors. Further, according to OICA, the passenger car production of Japan and India together had grown from 10.1 million units in 2011 to 11.5 million units in 2016, at a CAGR of 15.84%. Also, according to the International Energy Agency (IEA), the sales of BEV and PHEV in China climbed by 75% and 30%, respectively from 2015 to 2016. Similarly, BEV sales in Japan jumped by 48% in 2016 from 2015. In addition to high vehicle production and sales, other factors such as increasing GDP, rising per capita income, and low production costs have created growth opportunities in this region. All the factors mentioned above will prompt the tier-1 suppliers to develop lighter metal casted components to enhance the overall vehicle performance.

Target Audience:

*Automotive casting components manufacturers
*Automotive casting component suppliers, traders, and distributors
*Automotive casting materials manufacturers and suppliers
*Automotive OEMs
*Automotive component manufacturing associations
*Government and regulatory authorities
*Research and consulting association