Market Size of Automotive Aluminum Parts High Pressure Die Casting (HPDC) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.78 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Aluminum Parts High Pressure Die Casting Market Analysis
The automotive aluminum parts high-pressure die casting (HPDC) market was valued at USD 47.16 billion in 2021 and is expected to surpass a net valuation of USD 62.41 billion by 2027 end, registering a solid CAGR growth of 4.78% over the forecast period.
The COVID-19 pandemic had a negative impact on the market as the shutdown of manufacturing facilities and lockdowns in the first half of 2020 resulted in a decline in vehicle production across the world. However, with the gradual opening of restrictions in 2021 vehicle production picked up and further stable EV sales help the market regain its growth.
An increase in the production of passenger cars and commercial vehicles is expected to drive the market for the automotive parts developed through high-pressure aluminum die casting owing to their advantages. Some of the major factors driving the growth of the market are the enactment of stringent emission regulations and Corporate Average Fuel Economy (CAFE) standards, an increase in the demand for commercial vehicles and sales in the European region, and the growth of the automotive industry. Approximately 75.0% of the aluminum consumed can be reused, and reclaimed aluminum can be recycled indefinitely, making it the most popular material for automotive parts high pressure die casting.
Government pushing automobile manufacturers and encouraging customers to adopt electric vehicles by providing subsidies across key major countries like the United States, Germany, United Kingdom, India, China, etc. This trend of growing electric mobility encourages players operating in the market to produce various electric vehicle components like battery housings, transmission parts, etc.
Furthermore, growth in the substitution of aluminum for iron and steel in the automotive and automobile sectors, as well as increased funding in these sectors, would create lucrative opportunities for the growth of the high-pressure aluminum die casting market during the forecast period.
