|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia-Pacific|
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The die casting machinery market was valued at USD 2 billion in 2020, and it is expected to reach 4 billion in 2026 by registering a CAGR of above 6% during the forecast period, 2021-2026.
The COVID-19 pandemic had a profound impact on manufacturing operations, and the market witnessed a slowdown due to supply chain disruptions and trade restrictions worldwide. However, as the production of raw materials is increasing, the market is expected to witness optimistic growth.
Factors, such as the growing market for lightweight vehicles and the increase in adoption of high pressure die casting, due to technological advancements fuel the die casting machines market growth. Moreover, many automotive component producers utilize aluminum die casting machines to manufacture lightweight aluminum cast parts used in automotive assembly.
This growing trend of producing lightweight metals in the automotive industry, coupled with the growth in automobile sales, boosts the demand for die casting machinery. Additionally, increasing production in the automotive sector has catalyzed the demand for die casting machines in the market.
Asia Pacific is estimated to hold a prominent share in the global die casting machines market, due to growing manufacturing industries across the region. Emerging economies, like China, India, etc., are expected to have significant growth in the automotive and other manufacturing industries.
Thus, this is projected to significantly drive the demand for die casting machines in the region. Furthermore, the growing demand for industrial instruments is expected to propel the market growth of die casting machines in the North American region.
Scope of the Report
Die casting is a metal casting process in which molten metal is forced into a mold cavity under high pressure. The machine used for that purpose is known as a die casting machine, used to produce complex shapes with high accuracy, consistency, and precision. The report offers details about the latest trends, technologies, and recent developments.
The scope of the report covers segmentation based on machine type, industry, raw material, and geography. By machine type, the market is segmented into cold chamber die casting machines, and hot chamber die casting machines. By industry, the market is segmented into automotive, 3C industry, and other industries.
By raw material, the market is segmented into aluminum, magnesium, and others. By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World. For each segment, market sizing and forecast have been done on the basis of value (in USD million).
|By Machine Type|
|Cold Chamber Die Casting Machines|
|Hot Chamber Die Casting Machines|
|By Raw Material|
|Other Raw Materials|
Key Market Trends
Growing Adoption of Aluminum in Die Casting Machinery Market
The largest segment automobile manufacturers are increasingly looking to is aluminum instead of steel and iron to produce components and parts using die casting machinery, as aluminum is much lighter than steel and due to its varied advantages, like ductility over other materials, aluminum is expected to dominate the raw material segment of the market.
Moreover, the rising cost of fossil fuels and growing electric vehicle adoption act as a significant driver in the market. Additionally, stringent environmental regulations and cafe standards were imposed across various regions to support the adoption of the die casting process and related machinery. For instance,
- In December 2018, the EU set new regulations for carbon dioxide emissions for new passenger cars and commercial vehicles. The agreed-upon targets aim to reduce average CO2 emissions from new passenger cars by 15% in 2025 and by 37.5% in 2030, both relative to the 2021 base figure. A 15% reduction by 2025 and a further 31% for 2030 were agreed upon for light-commercial vehicles.
Amidst all the factors promoting the market, the growing preference of the customers toward aluminum products and the ongoing trend of increased usage of aluminum is expected to provide significant growth in the market.
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Asia Pacific to Witness Significant Growth During Forecast Period
The Asia Pacific region is projected to experience growth during the forecast period owing to the expansion of the automotive sector in the region. Moreover, growth in investments in construction activities and a surge in mechanical and manufacturing equipment manufacturers in the emerging markets are also expected to fuel the growth of the die casting machines market in the region.
Emerging economies, like China, India, etc., are expected to have significant growth in the automotive and other manufacturing industries. China is among the world’s largest suppliers of car parts, exporting motor vehicle parts and accessories worth USD 33.63 billion in 2019. In addition to its low labor costs, China has become known as 'the world's factory' because of its strong business ecosystem, lack of regulatory compliance, low taxes and duties, and competitive currency practices.
Thus, this is projected to significantly drive the demand for the die casting machinery market in the region. Furthermore, the growing demand for industrial instruments is expected to propel the market growth of die casting machinery in the North American region. The rising industrial manufacturing and automotive industry in the European region are also estimated to boost the growth of the die casting machinery market over the forecast period.
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The market for die casting machinery is neither a consolidated nor a fragmented one due to the presence of both established companies as well as local and regional players. Most players have their presence in a limited geographical area, but major companies have an extended footprint, which is expected to tilt the balance in their favor. For instance,
- In January 2020, Yoshiaki Murakami fund launched JPY 25.9 billion hostile bid for Toshiba Machine, as the government promotes corporate governance reform to make management more accountable to investors.
- In March 2019, Buhler Industries Inc., a leading manufacturer of machinery distributed under the Versatile and Farm King brands, entered an original equipment manufacturer (OEM) agreement with Kubota Corp. to develop its production capacity.
Buhler AG, Toshiba Machine Co. Ltd, Italpresse Gauss, LK Technology Holdings Ltd, Ube Industries Ltd, and Toyo Machinery & Metal Co. Ltd, are some major players within the market.
- In February 2021, Nantong Jiangzhong Photoelectricity Co. Ltd Installed its Italpresse gauss TF5700 high pressure die casting (HPDC) machine at the company’s base in Jiangsu province, China. Jiangzhong has also purchased a Westomat 3100 from StrikoWestofen to integrate seamlessly with the machine.
- In January 2021, the European Commission announced that it had approved the acquisition of joint control of a joint venture by Ube Industries and Mitsubishi Materials.
- In May 2020, The Bühler Group and Premier Tech announced that the strategic cooperation to include a joint venture in China and a global partnership for bulk packaging. With this partnership, Bühler is expected to have access to Canadian-based Premier Tech’s technologies in bagging and pelletizing through the PT-Bühler joint venture in China or directly through Premier Tech’s facilities.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Machine Type
5.1.1 Cold Chamber Die Casting Machines
5.1.2 Hot Chamber Die Casting Machines
5.2 By Industry
5.2.2 3C Industry
5.2.3 Other Industries
5.3 By Raw Material
5.3.3 Other Raw Materials
5.4 By Geography
5.4.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.3 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia Pacific
5.4.4 Rest of the World
220.127.116.11 South America
18.104.22.168 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Buhler AG
6.2.2 Toshiba Machine Co. Ltd
6.2.3 Italpresse Gauss
6.2.4 LK Technology Holdings Ltd
6.2.5 Ube Industries Ltd
6.2.6 Toyo Machinery & Metal Co. Ltd
6.2.7 Dynacast (Form Technologies)
6.2.8 Oskar Frech GmbH + Co. KG
6.2.9 IDRA Group
6.2.10 Zitai Precision Machinery Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS**
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Frequently Asked Questions
What is the study period of this market?
The Die Casting Machinery Market market is studied from 2018 - 2026.
What is the growth rate of Die Casting Machinery Market?
The Die Casting Machinery Market is growing at a CAGR of >6% over the next 5 years.
What is Die Casting Machinery Market size in 2018?
The Die Casting Machinery Market is valued at 2 Billion USD in 2018.
What is Die Casting Machinery Market size in 2026?
The Die Casting Machinery Market is valued at 4 Billion USD in 2026.
Which region has highest growth rate in Die Casting Machinery Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Die Casting Machinery Market?
Asia-Pacific holds highest share in 2020.
Who are the key players in Die Casting Machinery Market?
Buhler AG, Italpresse Gauss, Toshiba Machine Co. Ltd, LK Technology Holdings Ltd, Ube Industries Ltd are the major companies operating in Die Casting Machinery Market.