Industrial Casting Market: Global Industry Analysis And Forecast (2024-2030)

The Industrial Casting Market was valued nearly US$ 57.66 Bn in 2023. Industrial Casting Market size is estimated to grow at a CAGR of 7.34 % & is expected to reach at US$ 94.67 Bn. by 2030.
Industrial Casting Market Overview:
The report study on the Industrial Casting market is a thorough examination of the industry, market, & key players. The demand & supply sides of the market were segmented in the analysis. The Industrial Casting study also includes a competitive landscape & trends by market segments, technology, and investment.

Due to increased product demand from various industries such as transportation, industrial, & building & construction, the worldwide industrial casting market is expected to rise at a CAGR of 5% over the forecast period.To know about the Research Methodology :- Request Free Sample Report

Industrial Casting Market Trends:

The industrial casting market is being propelled forward by rising product demand from the automotive industry. Because of their light weight & potential to improve fuel efficiency, aluminium parts, the metal of casting, are widely used in cars in place of steel & iron components. Aluminum's intrinsic qualities, like lightweight, corrosion resistance, high stability for complicated geometries, high electrical & thermal conductivity, and high tensile strength, are driving up demand for industrial casting metals. During the forecast period, these factors are expected to be a major driver for the industrial casting market. Another factor propelling the industrial casting industry is the growing use of simulation-based castings.

During the forecast period, the industrial casting market is likely to be hampered by the high energy requirements of the process. Industrialization in rising nations like India & China, as well as government initiatives, are important factors driving the industrial casting market forward. The government enacts environmentally friendly regulations to limit pollution by using emission-reduction technologies. During the estimated period, this aspect is expected to generate a lucrative opportunity to fuel the industrial casting sector.
Industrial Casting Market Segment Analysis:
The industrial casting market is divided into two categories: ferrous castings & non-ferrous castings. By 2030, the non-ferrous product segment is expected to have a market share of xx percent. Non-ferrous metals such as magnesium, aluminium, copper, & zinc are commonly employed in lighter parts since they are stronger.

Transportation, industrial, building & construction, and others are the end-user segments of the market. In the year 2023, the transportation segment had the biggest market share, and it is expected to increase at a CAGR of xx% over the forecast period. Strict government regulations to reduce gasoline emissions, as well as a high demand for fuel-efficient automobiles, are increasing the transportation industry's industrial casting business. Metals such as aluminium are expected to see increased use in the aerospace industry. Waterways and railroads also employ industrial casting metals. The industrial casting market's sector demand is boosted by the aforementioned aspects.

The Industrial Casting Market is predicted to be dominated by APAC:

Because of the rapid development of the building & construction industry in rising economies like India & China, APAC is expected to increase by xx percent during the forecast period. Growing population & rising per capita disposable incomes in Asia Pacific lead to expanding demand in the building & construction industry. These factors are expected to fuel the region's industrial casting industry.

APAC building & construction industry:

Infrastructure, data centers, & smart cities are all growing in popularity.

In the year 2023, 66% of investors intend to invest in Australian infrastructure. Meanwhile, 60% want to put money into Singapore's infrastructure. On Australia, USD 19 billion will be invested in hard infrastructure projects. This includes road & rail projects at US$7.5 Bn, road safety improvements for USD 2.8 Bn, & local road improvements worth USD 1.4 billion. In the year 2021, data center investments in the APAC region surged by 35%. In 2023, there will be over 250 data center projects in APAC, with the majority of them expected to be operational by 2030. Spending on APAC smart cities is expected to reach USD 48.3 Bn in 2023, according to estimates.

In industrialized economies, strict government regulations on the industrial sector are in place to decrease fuel emissions. For example, the US Environmental Protection Agency has imposed several restrictions in the electricity and automotive industries to reduce greenhouse gas emissions & emission levels. As a result, manufacturers are investing in R&D to increase power, reduce the weight of automotive components, & improve fuel efficiency.

The objective of the report is to present a comprehensive analysis of the Industrial Casting Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players which include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Industrial Casting Market dynamics, structure by analyzing the Market segments and project the market size. Clear representation of competitive analysis of key players by End-Users, price, financial position, End-Users portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
Industrial Casting Market Scope: Inquiry Before Buying



Industrial Casting Market


Base Year
2023
Forecast Period
2024-2030


Historical Data
CAGR
Market Size in 2023 
Market Size in 2030


2018 to 2023
7.34%
US$ 57.66 Bn
US$ 94.67 Bn.



Segments Covered


by End-Users
Transportation
Industrial
Building & Construction
Others
by Product
Ferrous Castings
Non-Ferrous Castings


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Key Players are :
1. Alcoa
2. Ryobi
3. Martinrea Honsel
4. Gibbs Die Casting
5. Alcast
6. Hitachi Metals
7. Dynacast
8. Consolidated Metco
9. Precision Castparts
10.Avalon Precision Casting
11.ESCO Corp.
12.Great Lakes Castings LLC
13.Impro Precision Industries Ltd.
14.KSB SE, and Co. KGaA
15.Meridian Lightweight Technologies Inc.
16.ThyssenKrupp
17.Others

FAQ’S:

1) What is the share of the Industrial Casting Market in 2023?
Answer: The market was accounted for 57.66 Bn in the year 2023.

2) Which Product segment is dominating the Industrial Casting Market?
Answer: Ferrous Castings segment is the dominating Product segment in the market.

3) What are the key players in the Industrial Casting Market?
Answer: Alcoa, Ryobi, Martinrea Honsel, Gibbs Die Casting, Alcast, Hitachi Metals, Dynacast, Consolidated Metco, Precision Castparts, Avalon Precision Casting, ESCO Corp. Great Lakes Castings LLC, Impro Precision Industries Ltd., KSB SE, and Co. KGaA
Meridian Lightweight Technologies Inc., ThyssenKrupp, Others.

4) Which region has the largest share in Industrial Casting Market??
Answer: Europe region holds the highest share in 2023.