Market Size of Gravity Die Casting Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 25.43 Billion |
| Market Size (2029) | USD 30.72 Billion |
| CAGR (2024 - 2029) | 3.79 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Gravity Die Casting Market Analysis
The Gravity Die Casting Market size is estimated at USD 25.43 billion in 2024, and is expected to reach USD 30.72 billion by 2029, growing at a CAGR of 3.79% during the forecast period (2024-2029).
Gravity-die casting is one of the oldest methods of die casting. This die-casting process is used to create accurately dimensioned, finely defined, smooth, or textured surface metal parts. The fundamental benefit of gravity die casting is its fast-manufacturing speed. The reusable die tooling enables the production of hundreds of castings per day. High-definition parts reduce machining costs, while higher surface finish saves finishing expenses.
Due to its high thermal conductivity, the electrical and electronics industry is likely to see an increase in demand for aluminum die-casting parts during the forecast period. Die-casting machinery is in high demand as a result of the automotive industry's growing preference for lightweight metals and rising automobile sales.
Over the long term, the market is anticipated to benefit from the development of renewable power generation and the rapid expansion of the consumer electronics, computers, and communication industries.
With the development of new technologies, automotive parts have seen advancement and innovation in recent years. Among them, auto component manufacturing using lightweight materials has received national attention. In addition, automakers are using lightweight non-ferrous metals to reduce the weight of vehicles as a result of CAFE standards and EPA policies to reduce automobile emissions and improve fuel economy. As a result, the former automotive market is witnessing a significant boost from the use of die-cast parts to reduce weight.
