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We expect the global metal casting market to exhibit a CAGR of 7.6% during 2021-2026.
Increasing deployment of metal casting in pipes and fittings, mining and oilfield machinery, internal combustion engines, railroads, valves, and farm equipment, etc., represents one of the key factors driving the global metal casting market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of numerous end use industries for metal casting.
Based on the process, the global metal casting market has been segregated into gravity casting, high-pressure die casting (HPDC), low-pressure die casting (LPDC), and sand casting, where gravity casting currently accounts for the largest market share.
Based on the material type, the global metal casting market can be segmented into aluminum, cast iron, magnesium, zinc, and others. Among these, cast iron holds the majority of the total market share.
Based on the components, the global metal casting market has been categorized into alloy wheel, battery housing, clutch casing, cross car beam, crank case, cylinder head, and others. Currently, alloy wheel accounts for the largest market share.
Based on the vehicle type, the global metal casting market can be divided into passenger cars, light commercial vehicles, and heavy commercial vehicles. Among these, passenger cars exhibit a clear dominance in the market.
Based on the electric and hybrid type, the global metal casting market has been bifurcated into hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and battery electric vehicles (BEV). Currently, hybrid electric vehicles hold the largest market share.
Based on the application, the global metal casting market can be segregated into body assemblies, engine parts, transmission parts, and others. Among these, body assemblies currently account for the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of major players in the global metal casting market include NEMAK SAB de CV, GF Casting Solutions AG, Dynacast Ltd, Ryobi Limited, Rheinmetall Automotive AG, Endurance Technologies Limited, Ahresty Corporation, Gibbs (Koch Enterprises Inc.), Aisin Automotive Casting, LLC, MINO Industry USA, Inc, Thyssenkrupp AG, Toshiba Machine Co., Ltd, etc.
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