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Automotive Parts Die-Casting Market 2017 Global Analysis, Opportunities and Forecast To 2022-The 18th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
1/12/2017 Die-casting expo-foundry expo |
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The Global Automotive Parts Die-Casting market accounted for $7.0 billion in
2014 and is expected to reach $12.8 billion by 2022 growing at a Compound
Annual Growth Rate (CAGR) of 7.8% during the forecast period 2014 to 2022.
The growing automobile industry and amalgamation of lightweight parts in
automobiles has influenced the market growth. The Environmental Protection
Agency (EPA) regulations raised mile per gallon standards to 35.5 miles per gallon
by 2016, and then 54.5 mpg by 2025 this requirement set by EPA is one of the
prominent factors boosting the market growth. Rules imposed by Occupational
Safety and Health Administration (OSHA) and initiatives by National Air Duct
Cleaners Association (NADCA) to develop the technical workforce in the die
casting industry are anticipated to improve the overall production of the market.
North America has the largest market and accounts for more than 30% of the
global market share driven by the government initiatives, large-scale domestic
production, and availability of resources. In the United States, Aluminum Die-
Casting market for automobiles has matured and is witnessing stable growth over
the past few years. On the other hand, China with its magnesium reserve is
anticipated to emerge as the leading supplier of the magnesium die cast parts.
India is progressively growing as a hub for the automobile components
manufacturers, particularly for magnesium and zinc die cast auto parts. India and
China are expected to boost the global market during the forecast period strongly
driven by the rapid growth in automobile industry.
-The
18th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
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