Market Size of North America 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 | > 6.00 % |
| Market Concentration | Medium |
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?
North America Automotive Parts Aluminium Die Casting Market Analysis
The North America automotive parts aluminium die casting market is expected to grow at a CAGR of over 6% during the forecasted period (2020 - 2025)
- North American countries are 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 United States, Canada, and Mexico, with 16.8 million vehicles manufactured in 2019 .
- 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.
- With the increasing pollution levels around the world, carmakers are looking for lightweight components for reducing fuel consumption and curbing the emission of harmful pollutants into the atmosphere.
- Aluminum provides weight saving upto 50% compared to the traditional mild steel structure. Aluminum has equal or more superior strength and absorbs twice crash-induced energy.
- Lowering the vehicle weight will allow downsizing engine, transmission, suspension, and wheels is driving growth in the market. To meet the emissions regulations and policies OEMs are trying to reduce weight of automobiles by employing lightweight non-ferrous metals.
- Using aluminium die casting parts has been adapted as the main strategy. Aluminium is a sustainable and resource-efficient material. It can be recycled; the world average remains 45% (as of May 2020). Aluminium pressure parts are later used in recycling process to form aluminium alloys which have very large applications.
