Market Size of India Automotive Parts Aluminum Die Casting Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Automotive Parts Aluminium Die Casting Market Analysis
The Indian automotive parts aluminum die casting market was valued at USD 1.09 Billion in 2020 and is expected to reach USD 1.81 Billion by the year 2026. The India Automotive Parts Aluminum Die Casting Market is anticipated to register a CAGR of over 8.8 % during the forecast period (2021 - 2026).
The COVID-19 outbreak hit the automobile industry adversely. The disruptions caused in the supply chain as several major economies of the world were in lockdown. All the manufacturing units and OEM plants were forced to halt production and operations during this period. With the recovery of economies, the demand returned to the market witnessing huge demand for passenger cars as the consumer preference changed from public transport to personal vehicles. The trend is expected to continue and drive market growth.
The increasing penetration of die casting parts in the automotive industry and the rising vehicle sales have augmented the market growth, globally. Moreover, the rapid implementation of stringent government regulations to curb automobile emissions and increasing fuel efficiency has catalyzed the demand for lightweight, non-ferrous metals in the automobile industry.
With the advent of improved casting technology, high precision and digital machinery are increasingly being used for enhancing the quality and durability of aluminum casts for automobile applications. The factors mentioned above may continue to bolster the growth of the Indian automotive parts aluminum die casting market in the upcoming years.
