Automotive Parts Aluminium Die-Casting Market. The Automotive Parts Aluminum Die-Casting Market was estimated at a value of about USD 32. 72 million in 2017. The industry is forecasted to register a CAGR of over 6.
New York, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Automotive Parts Aluminium Die Casting Market - Analysis of Growth, Trends and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05778184/?utm_source=GNW
95%, during the forecast period.
Demand from the Electric Vehicle Segment
The growing concern for optimizing energy consumption and reducing CO2 emissions has led to the introduction of regulations for the automotive industry. The regulation of emissions standard for vehicles in particular has led to a paradigm change, resulting in the promotion of innovative concepts for the construction of light automotive components. In addition to substituting heavy materials, such as steel, with lighter metals like aluminum, the use of structural die-cast components also contribute to reducing the weight of automobiles.
Electric or hybrid vehicles also benefit significantly, where drive and powertrain elements, such as electric motors can be manufactured using structural components made of die-cast aluminum, zinc, and copper. Electric vehicle industry has been rapidly developing internationally due to a confluence of factors, such as emission norms, industry shifts, and shift in consumer preferences. Demand for electric and hybrid vehicles is increasing because of growing environmental concerns regarding CO2 emissions and efforts by government authorities (EC) and programs (such as Europe NCAP) to make vehicles more fuel-efficient. With the recovery of the economy in many countries, real income of the people is expected to grow up, along with the shift of consumer preference to fuel efficient vehicles, which will further increase the adoption of electric vehicles in the forecast period.
Cost Issues and Resource Inefficiencies
The decisions and measures adopted by the global regulatory authorities to protect the climate are having a significant impact on the aluminum casting foundries. The European Union has plans to bring down the primary energy usage to around 20% by the year 2020. The energy savings target (i.e. to cut primary energy usage) has been formulated for the subsequent period, extending to the year 2050.
The renewables reallocation charges imposed by the German Renewable Energies Act on Germany, one of the world’s top three automakers, impacts the cost of electrical energy. Although, die-casting being an energy-intensive process, the die-casting companies cannot apply for an exemption from, or reduction of the reallocation charge, payable under §41 subs of the German Energy Taxation Act (EnergieStG).
Almost 8% of the production costs in die casting go to energy costs; hence, the uncertainties in natural gas and petroleum price also influence the industry, drastically increasing overall production cost.
Die-cast tooling and die-cast engineering require a significant degree of capital. Additionally, the usage of metals as raw materials come with price instability, and any fluctuations in the global economy, influx in exchange rates, make the cost of raw materials volatile. Demand side of the aluminum and zinc alloy market is pressurizing the supply side and prices are further expected to grow up during the forecast period.
Key Developments in the Automotive Parts Aluminium Die-Casting Market
- January 2018: Novelis, announced plans to invest in a $300 million automotive aluminum sheet manufacturing facility in Guthrie, Kentucky
- September 2017: Gränges AB and Japan’s Mitsubishi Aluminum Co., Ltd. Stepped into a new joint venture
- September 2017: Jaguar Land Rover, as a part of USD 2.47 million project “REALITY”intended to expand the use of recycled aluminum in car bodies
Major Players in Automotive Parts Aluminium Die-Casting Market
Saint Jean Industries
Georg Fischer Limited
Ryobi Aluminum Casting Ltd.
Reasons to Purchase Automotive Parts Aluminium Die-Casting Market Report
- Provides latest insights into the Global Automotive Parts Aluminum Die-casting Market
- Gives a detailed analysis of the competitive landscape in the automotive industry, segmented by production process type, application type, and geography
- Analyses the market scenario with the help of Porter’s Five Forces Analysis
- Forecasts the market volume and value by assessing the impact of the market drivers and constraints
- 3-month analyst support, along with the Market Estimate sheet in excel
Automotive Parts Aluminium Die-Casting Market Report Customization
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