Market Size of Mexico Automotive Parts 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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Mexico Automotive Parts Die Casting Market Analysis
The Mexican Automotive Die Casting Market is expected to register a CAGR of over 6% during the forecast period (2020 - 2025).
- The market studied is largely driven by supply chain complexities in the die casting industry, expanding the automotive market, increasing penetration of die casting parts within the current automotive industry, and future use of die casting in electric vehicles.
- The automotive industry has witnessed dramatic growth over the past couple of years. Owning to inviting new innovation, it has never restricted itself. At present, automotive manufacturers are striving to meet the targets for highly tensile chassis frames and strong automotive parts that are long-standing, lightweight and cost-effective.
- CAFÉ standards and EPA policies, to cut down the automobile emissions and increase fuel efficiency, are driving the automobile manufacturers to reduce the weight of the automobile, by using lightweight non-ferrous metals. Subsequently, the use of die-cast parts as a weight reduction strategy is acting as a major driver for the market studied.
- Rules imposed by the OSHA and the initiatives by the NADCA to improve the technical workforce in the die casting industry are expected to improve the overall production of the market studied.
The automobile industry is highly dependent on the Environment Protection Agency (EPA) regulations, owing to the high emissions of the automotive units. The move by the EPA to raise the miles per gallons (mpg) standards to 54.5 mpg by 2025, has actually helped the die casting industry, as the automotive industry concluded that the only way to get to those mileage standards is by manufacturing lightweight vehicles.
