Market Size of Automotive Parts Aluminum Die Casting Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 27.68 Billion |
| Market Size (2029) | USD 41.55 Billion |
| CAGR (2024 - 2029) | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Parts Aluminum Die Casting Market Analysis
The Automotive Parts Aluminum Die Casting Market size is estimated at USD 27.68 billion in 2024, and is expected to reach USD 41.55 billion by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).
Factors such as the rising demand for lightweight vehicles and the growing utilization of aluminum in diecasting auto parts are expected to fuel the market's growth during the forecast period. Stringent environmental regulations and CAFE standards were imposed across various regions to support the adoption of the diecasting process.
In addition, increased demand for electric and hybrid vehicles turned automakers’ focus to using lightweight materials like aluminum as a substitute for heavier steel and iron in all types of vehicles. Furthermore, the rising cost of fossil fuels and rising electric vehicle adoption are significant market drivers. Players operating in the market are focused on raising their production capacities to meet this rising demand. For instance,
- In August 2022, WencanGroup Co., Ltd. Invested CNY 1 billion (USD 0.14 billion) in China to build a production base of aluminum diecast parts for New Energy Vehicles (NEVs) in Lu'anEconomic and Technological Development Zone, Anhui Province.
- In May 2022, Tamil Nadu Small Industries Development Corporation invested an amount of INR 5.8 crore (around USD 0.70 million) to establish a common facility center for aluminum high-pressure die casting.
The market is anticipated to be constrained by the volatility of aluminum pricing due to sanctions and trade disputes between nations and the growing use of novel casting technologies (such as 3D printing) in the automotive industry.
