Market Size of Italy Automotive Parts Aluminium Die Casting Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Italy Automotive Parts Aluminium Die Casting Market Analysis
The Italy automotive parts aluminium die casting market is expected to grow at a CAGR of over 6% during the forecasted period (2020 - 2025)
Italy is making good contribution to the automotive industry with die-casting being support pillar for the market growth. Automotive industry is witnessing an upswing, with die casting makers their presence worth. Production of automobile has been witnessing a lucrative growth in Italy, with 915,305 vehicles manufactured in 2019 alone. Aluminium is the widely used raw material in automotive die-casting. Production standards have risen, as die casting features meticulous process types, making the market grow.
Automotive lightening and energy saving trends are developing in this sectors and the automotive parts die-casting market grew in Italy, with much competitive technology in producing die cast automobile parts. The Italy market for automotive parts aluminium die casting is expected to touch $200 million in 2020 and is expected to see a upward trend during the forecasted period. The automobile industry is highly dependent on the Environmental Protection Agency (EPA) regulations, owing to the high emissions of the automotive units. The move by the EPA to raise the mile per gallons (mpg) standards to 35.5 mpg by 2016, and then to 54.5 mpg by 2025, helped the die casting industry, as the automotive industry concluded that the only way to get to those mileage standards was by manufacturing lightweight vehicles. Use of aluminum, specifically aluminum die casting, in many of the power train and engine areas, is an important way to achieve this. This is one of the major reasons for the predicted growth of the industry in the area of structural die-casting
However, volatility of aluminium prices, due to sanctions and trade wars between countries, and the increasing employment of zinc die casting, is acting as a major hindrance in the growth of the market studied.
