The global die casting machines market was valued at US$ 2.8 billion in 2021 and it is anticipated to grow up to US$ 5.0 billion by 2031, at a CAGR of 5.8% during the forecast period.
Global Die Casting Machines Market report from Global Insight Services is the single authoritative source of intelligence on Die Casting Machines Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Die casting machines are conventionally employed in casting non-ferrous metals, including aluminum, zinc, copper, lead, and magnesium. Moreover, the die casting machines are used in tin-based alloys. The use of multiple equipment in the die casting machine has gathered steam in small to medium-sized castings, particularly due to the cost-effectiveness factor. Further, modern die casting machines are capable of providing excellent surface finish and marked dimensional consistency. The growing uptake of die casting machines in manufacturing units pertaining to high-strength suspension automotive is an essential factor boosting the demand for die casting machines.
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Market Drivers and Trends
The automotive industry is keen on adopting new technologies to make their vehicles faster and safe simultaneously. Vehicle manufacturers use modern technologies and incorporate mechanisms to ensure every component used within vehicles is of perfect shape, quality, and size. And aluminum die casting is one such mechanism that can help deliver intricate components, which can be used within breaking mechanisms and for manufacturing different types of vehicles. Also, aluminum die casting manufacturers use reliable metals such as aluminum and zinc to make dedicated structures and components, which vehicles can use for better reliability and durability.
Further, there are several reasons why the automobile industry tends to adopt aluminum die casting as a method of manufacturing components, such as brake pads and seat belt clips. Some of the benefits of using aluminum die casting in the automobile industry include safety & reliability, manufacturing lightweight components, flexibility for making intricate components with better efficiency, and manufacturing of eco-friendly & sustainable components. Thus, it is anticipated to aid the growth of the die casting machines market in the forecast period.
Market Restraints and Challenges
Several disadvantages are restraining the market growth for die casting machines. Such as, the process of die casting often has a higher initial cost than when compared to that of the extrusion process. Moreover, though a die casting might yield closer tolerances, an extruded shape will be stronger. Also, a die casting is likely to contain some porosity while an extrusion has none. In addition, the surface finish of a die casting will likely require machining. Still, an aluminum extrusion’s surface can be used in a finished part, assuming the dimensional tolerances created to meet the needs of the part. Die castings are limited to metals with low melting points, such as aluminum, magnesium, and copper, have higher initial tooling costs and mold life can be short. Extrusions are a better option in shorter production runs due to lesser start-up costs. Therefore, some of the above-mentioned factors might act as a restarting factor for the die casting machines market.
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Global Die Casting Machines Market Segmentation
By Type
- Cold Chamber Die Casting Machine
- Hot Chamber Die Casting Machine
- Gravity Die Casting Machine
By Material
- Aluminum
- Zinc
- Magnesium
- Others
Major Players in the Global Die Casting Machines Market
The key players studied in the global die casting machines market are AGRATI AEE S.r.l (Italy), Bühler AG (Switzerland), Form Technologies (US), L.K. Technology Holdings Limited (Hong Kong), Norican Group (ItalPresseGauss) [Denmark], Oskar Frech GmbH + Co. KG (Germany), Shibaura Machine CO., LTD. (Japan), Toyo Machinery & Metal Co., Ltd. (Japan), Ube Machinery Corporation, Ltd. (Japan), and Zitai Precision Machinery Co.,Ltd. (Taiwan).
COVID-19 Impact
In 2020, the COVID-19 pandemic resulted in economic challenges owing to subsequent lockdowns. In 2020, manufacturing industries were severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. A swift decline in manufacturing revenues due to virtually nonexistent manufacturing demand and slow production capabilities had limited the expenditure on the production of die casting machines worldwide. Thus, the COVID-19 pandemic had negatively affected the global die casting machines market in 2020.
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