(MENAFN- EIN Presswire) Die Casting Machines Market 2020-2031
Die Casting Machines Market by Type (Cold Chamber Die Casting Machine, Hot Chamber Die Casting Machine, Gravity Die Casting Machine)
PORTLAND, UNITED STATES, March 16, 2023 /einpresswire.com / -- die casting is a manufacturing process that involves injecting molten metal into a mold to create a solid object. The process is widely used in the production of a variety of products, from automobile parts to consumer electronics. As a result, the demand for die casting machines has been on the rise in recent years, driving the growth of the die casting machines market.
Global die casting machines market size was $2,664.7 million in 2020, and is projected to reach $4,864.6 million by 2030, growing at a CAGR of 6.1% from 2021 to 2030. This growth is attributed to the increasing demand for die casting products in various end-use industries such as automotive, aerospace, and construction. The Asia Pacific region is expected to dominate the market during the forecast period, owing to the high demand for die casting products in countries such as China and India.
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COMPETITION ANALYSIS
Key companies 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.
The die casting machines market can be segmented based on machine type, end-use industry, and region. Based on machine type, the market can be divided into hot chamber die casting machines and cold chamber die casting machines. Hot chamber die casting machines are suitable for metals with low melting points, such as zinc, while cold chamber die casting machines are used for metals with high melting points, such as aluminum and copper.
Die casting machine engages in the process of forcing molten metal into reusable metal die under high pressure. Dies are classified into single & multiple cavity and combination dies. This process is utilized to manufacture accurately dimensioned, defined, smooth, and textured surface alloy and metal parts. These metal parts include chassis, air valve, flywheel & bracket, smart locks, and automobiles appliances.
Based on end-use industry, the die casting machines market can be segmented into automotive, aerospace, construction, consumer goods, and others. The automotive industry is the largest end-use industry for die casting machines, accounting for more than 50% of the market share. The increasing demand for lightweight and fuel-efficient vehicles is driving the growth of the automotive industry, which in turn is boosting the demand for die casting machines.
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The construction industry is also a significant end-use industry for die casting machines, as the process is used to produce components for building facades, windows, and doors. The aerospace industry is expected to witness significant growth during the forecast period, owing to the increasing demand for lightweight and high-performance aircraft components.
In terms of region, the Asia Pacific region is expected to dominate the die casting machines market during the forecast period, owing to the high demand for die casting products in countries such as China and India. The increasing investments in the automotive and construction industries in these countries are driving the growth of the die casting machines market.
North America and Europe are also expected to witness significant growth during the forecast period, owing to the increasing demand for lightweight and fuel-efficient vehicles in these regions. The presence of major automotive manufacturers in these regions is also contributing to the growth of the die casting machines market.
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the die casting machines market is expected to witness significant growth during the forecast period, owing to the increasing demand for die casting products in various end-use industries such as automotive, aerospace, and construction. The Asia Pacific region is expected to dominate the market, driven by the high demand for die casting products in countries such as China and India. The increasing investments in the automotive and construction industries in these countries are driving the growth of the die casting machines market.
David Correa
Allied Analytics LLP
+ +1-800-792-5285
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