Automotive Casting Market - By Material (Iron, Steel, Aluminum), By Process (Sand Casting, Die Casting, Investment Casting), By Application (Engine, Transmission & Suspension, Brakes & Wheels), By Distribution Channel, By Vehicle & Forecast, 2021-2027

Automotive Casting Market Size

Automotive Casting Market size crossed USD 107.2 billion in 2020 and is expected to exhibit around 5.8% CAGR between 2021 and 2027. Positive outlook of automotive production will propel the industry growth.
 

Many car manufacturers are trying to reduce vehicle weights in order to improve fuel economy and minimize emission levels. The traditional metals such as cast iron are now being replaced by lightweight materials like aluminum to reduce overall vehicle weight along with improvement in vehicle efficiency. Increasing population, rising spending propensity and technological progressions will positively influence global automotive production.
 

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Stringent government regulations imposed by regulatory bodies will motivate automotive manufacturers to minimize vehicle weights. European Union specified various regulations and legislation to control the CO₂ emission levels from automobiles. Due to these regulations, the amount of emissions has been reduced significantly in the past few years. According to European Environmental Agency, average CO₂ emission levels from passenger cars is reduced by 40.2 Gco2/km from 2007 to 2017. Recently, the European Parliament and the Council adopted Regulation (EU) 2019/631 specifying the guidelines regarding CO₂ emission performance standards for new passenger cars and new light commercial vehicles for the period after 2020.
 

The coronavirus pandemic has crippled the automotive industry in a significant manner. Due to imposition of strict lockdowns, automotive production facilities were partially or completely closed globally resulting in a significant decline in production output. Additionally, supply chain associated with automotive industry was severely affected owing to transportation restrictions. This has hampered the growth of automotive casting market in 2020. As lockdown restrictions and transportation bans are getting lifted in the second half of 2020, the market will gain its momentum in a slow and steady manner. However, significant amount of time is required for the market to fully stabilize and achieve peak growth rates. 
 

Automotive Casting Market Analysis

Aluminum material segment is likely to witness over 4% CAGR by volume through 2027. Use of aluminum in automotive production observed significant upward growth trajectory in the past few decades and it will continue its strong growth in upcoming years. Aluminum’s density is one third that of steel and is lighter than steel. Every kilogram of aluminium used in a car approximately reduces the overall weight of the vehicle by one kilogram. Moreover, it is extremely malleable and has excellent corrosion resistance and flexibility.
 

Vehicles made from aluminum have better acceleration, superior braking and excellent handling. The key benefit of using aluminum in automotive manufacturing is improvement in fuel efficiency. Vehicles made from aluminum offer safety benefits needing shorter stopping distances thereby minimizing the risk of possible collisions significantly. Furthermore, it offers significant environmental benefits as approximately 90 percent of automotive aluminum scrap can be recycled and recovered. Such trends will bolster the use of aluminum in automotive manufacturing.
 

Die casting is poised to capture more than 50% of the automotive casting market volume share by 2027. The process is used to produce components requiring superior dimensional accuracy and excellent surface quality. It is majorly used for casting non-ferrous metals such as aluminum, magnesium, zinc, etc. It is perfectly suitable for mass production and parts produced with this technique possess high strength. Aluminum die cast parts are widely used in automotive industry owing to their weight reduction benefits.
 

Various components produced by aluminum die casting include cylinder heads, engine blocks, suspension parts, wheels, etc. Strict regulatory environment associated with production of vehicles with better fuel economy and reduced CO₂ emission levels will benefit the growth of die casting in future.
 

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Automotive casting market from engine applications will generate about USD 70 billion by 2027. As engine is heart of the vehicle, high efficiency of engine is of utmost importance. Engine components require high level of dimensional accuracy in order to work at desired levels and casting process aids in achieving these results. Positive outlook of automotive sector will trigger the penetration of casting within engine within engine segment.
 

In 2020, passenger cars segment accounted for above 50% market share and is set to see strong growth from 2021 to 2027. Advent of technology coupled with emphasis on reducing the vehicle weight will propel the market growth. However, supportive government initiatives and financial support will boost the automotive production in coming years. Changing consumer dynamics amidst serious competition amongst vehicle manufacturers have resulted in increasing focus towards light weighting of vehicles and incorporation of new materials.
 

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Asia Pacific captured more than 50% of the automotive casting market share in 2020 propelled by large number of automotive production facilities accounting for significant portion of global automotive production. Moreover, the region consists large number of foundries thereby procurement of raw materials is easy and less costly. Various governments within this region have formulated initiatives for accelerating the growth of automotive sector.
 

Automotive Casting Market Share

Industry players are adopting various strategies including production capacity expansion, mergers & acquisitions and new product development to gain strong foothold in the market. The key automotive casting market players include:

• Dynacast
• Ryobi
• Gibbs Die Casting
• Zollern GmbH
• Bell Foundry
• Impro
• Zetwerk
• CFS Foundry
• Regensburger Druckgusswerk Wolf GmbH
• Endurance Technologies.
   

This market research report on automotive casting includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2017 to 2027, for the following segments:

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Market, By Material

• Iron
• Steel
• Aluminum
• Others

Market, By Process

• Sand casting
• Die casting
• Investment casting
• Others

Market, By Application

• Engine
• Transmission and suspension
• Brakes and wheels
• Others

Market, By Distribution Channel

• OEM
• Aftermarket

Market, By Vehicle

• Passenger cars
• Light commercial vehicles
• Heavy commercial vehicles
• Two wheelers

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • South Korea
• LATAM
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia
  • United Arab Emirates