According to the latest report by IMARC Group, titled "India Metal Casting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India metal casting market is expected to grow at a CAGR of 6.7% during 2023-2028. Metal casting refers to an industrial process that is generally used for creating desired metal shapes. It involves pouring liquid metal into a mold that contains a cavity in order to create a desired geometrical shape. This process is commonly adopted to manufacture various components, including train wheels, lamp posts and automotive parts. Along with this, it is utilized for creating jewelry, sculptures, religious objects, tools and weapons. It is widely used across India as a preferred alternative to machine manufacturing since it is an inexpensive way to easily fabricate complex designs and shapes.
India Metal Casting Market Trends:
The market in India is primarily driven by continuous developments in the foundry industry. Coupled with the rising investments by private and public agencies to improve the overall foundry sector, this is creating a positive market outlook. Moreover, the growing manufacturing and sales of automobiles, along with the increasing adoption of vehicles due to the inflating disposable income levels of the masses, are providing a boost to the market growth. In line with this, the growing preference for electric vehicles (EVs) among individuals on account of the rising environmental concerns is propelling the market growth. With rapid industrialization and urbanization, there has been a considerable increase in the utilization of the metal casting process across the country. Additionally, the increasing infrastructural development projects across India have led to the rising demand for cast products, such as door handles, curtain wailing and construction equipment, thereby impacting the market growth favorably. Other factors, including continual technological advancements in the metal casting processes and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across India.
- On the basis of the process, the market has been segmented into sand casting, gravity casting, high-pressure die casting (HPDC), low-pressure die casting (LPDC) and others.
- Based on the material type, the market has been segregated into cast iron, aluminum, steel, zinc, magnesium and others.
- On the basis of the end use, the market has been classified into automotive and transportation, equipment and machine, building and construction, aerospace and military and others.
Automotive and Transportation Market
- Based on the component, the market has been categorized into alloy wheels, clutch casing, cylinder head, cross car beam, crank case, battery housing and others.
- On the basis of the vehicle type, the market has been divided into passenger cars, light commercial vehicles and heavy commercial vehicles.
- Based on electric and hybrid type, the market has been segmented into hybrid electric vehicles (HEV), battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV).
- On the basis of the application, the market has been segregated into body assemblies, engine parts, transmission parts and others.
- Based on the region, the market has been divided into North India, West and Central India, South India and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
|Base Year of the Analysis
||Process, Material Type, End Use, Component, Vehicle Type, Electric and Hybrid Type, Application, Region
|| North India, West and Central India, South India, East India
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