What is Global Metal Casting Market?
The Global Metal Casting Market is a vast and dynamic sector that plays a crucial role in various industries worldwide. Metal casting is a manufacturing process where molten metal is poured into a mold to create a desired shape. Once the metal solidifies, the mold is removed, revealing the cast metal object. This process is used to create a wide range of products, from intricate jewelry pieces to large machinery parts. The market's value was estimated at US$ 226930 million in 2022, and it is projected to reach US$ 340580 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 5.9% from 2023 to 2029. The largest share of this market is held by China, accounting for about 42% of the global market. Europe follows closely behind, holding approximately 18% of the market share. The top three companies in this sector collectively hold about 15% of the market share.
Gray Iron Castings, Ductile Iron Castings, Steel Casting, Aluminum Casting, Others in the Global Metal Casting Market:
The Global Metal Casting Market is segmented into various types based on the metal used in the casting process. These include Gray Iron Castings, Ductile Iron Castings, Steel Casting, Aluminum Casting, among others. Gray Iron Castings are widely used due to their excellent machinability, high wear resistance, and superior castability. Ductile Iron Castings, on the other hand, are known for their high strength and toughness, making them ideal for heavy-duty applications. Steel Casting is preferred for its high durability and resistance to corrosion, while Aluminum Casting is favored for its lightweight and high thermal conductivity. Other types of metal castings also exist, each with their unique properties and applications. Despite the differences, all these types of castings play a significant role in the Global Metal Casting Market.
Automotive Industry, Aviation Industry, Heavy Machinery, Energy Industry, Others in the Global Metal Casting Market:
The Global Metal Casting Market finds its applications in various industries, including the Automotive Industry, Aviation Industry, Heavy Machinery, Energy Industry, among others. In the Automotive Industry, metal castings are used to manufacture engine parts, body parts, and other components. The Aviation Industry uses metal castings for making aircraft engines, landing gear, and other critical parts. The Heavy Machinery sector relies on metal castings for creating large, durable parts for heavy-duty machinery. The Energy Industry uses metal castings in the production of components for power generation equipment, such as turbines and generators. Other industries also utilize metal castings for various purposes, further expanding the reach of the Global Metal Casting Market.
Global Metal Casting Market Outlook:
To summarize the market outlook for the Global Metal Casting Market, it's important to note that the market was valued at US$ 226930 million in 2022. It's projected to grow at a CAGR of 5.9% and reach a value of US$ 340580 million by 2029. China holds the largest market share at 42%, followed by Europe at 18%. The top three companies in the market collectively hold a 15% market share. This data provides a snapshot of the current state of the Global Metal Casting Market and its potential for growth in the coming years.
| Report Metric | Details |
| Report Name | Metal Casting Market |
| Accounted market size in 2022 | US$ 226930 million |
| Forecasted market size in 2029 | US$ 340580 million |
| CAGR | 5.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Precision Castparts, Hitachi Metals, Xinxing Ductile Iron, Amsted Rail, Weichai, Ryobi, Doosan Heavy Industries & Construction, Dicastal, Nemak, Alcoa, Hongtu Technology, Kobe Steel, ME Elecmetal, Huaxiang Group, Faw Foundry, Sinojit, Gibbs Die Casting, Endurance, CHALCO, China Hongqiao, HongTeo, WenCan |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
