Market Size of South Africa 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 | > 5.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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South Africa Automotive Parts Aluminium Die Casting Market Analysis
The South Africa automotive parts aluminium die casting market is expected to grow at a CAGR of over 5% during the forecasted period (2020 - 2025)
- South Africa is making a 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 France, with 2202460 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 France, with much competitive technology in producing die cast automobile parts. The French market for automotive parts aluminium die casting is expected to touch $178.74 million in 2020 and is expected to see a upward trend during the forecasted period.
- 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.