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Foundry Market in India 2017-2021

Foundry Market in India 2017-2021

About Foundry Market

A foundry is a workshop for manufacturing metal castings, wherein molten or liquid metal is poured into a mold made of metal, sand, or a ceramic substance. The metal casting comprises a hollow cavity of the desired shape to form geometrically complex parts when liquid metal is poured into it. All major metals like iron, magnesium, aluminum, zinc, steel, and copper-based alloys can be used to make castings. Metal castings find applications in cars, trucks, planes, trains, mining and construction equipment, oil wells, pipes, toys, space shuttles, wind turbines, and nuclear plants.

Technavio’s analysts forecast the foundry market in India to grow at a CAGR of 10.08% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the foundry market in India for 2017-2021. To calculate the market size, the report considers the revenue generated from the production value of castings manufactured by the foundry market in India.

Technavio's report, Foundry Market in India 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

  • Electrosteel Castings
  • Hinduja Foundries
  • Nelcast
  • Rail Wheel Factory
Other prominent vendors
  • Ashok Iron Works
  • Brakes India
  • Cooper
  • DCM Engineering
  • Jayaswal Neco Industries
  • Kirloskar Ferrous Industries
  • Mahindra Hinoday Industries
  • Sakthi Auto Components
  • Tata Motors (Production Engineering)
  • Welcast Steels
Market driver
  • Passage of GST bill by parliament.
  • For a full, detailed list, view our report
Market challenge
  • Environmental issues leading to increasing environmental cost.
  • For a full, detailed list, view our report
Market trend
  • Increasing investments in foundry market in India.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Foundry Market in India 2017-2021

Technavio recognizes the following companies as the key players in the foundry market in India: Electrosteel Castings, Hinduja Foundries, Nelcast, and Rail Wheel Factory.

Other prominent vendors in the market are: Ashok Iron Works, Brakes India, Cooper, DCM Engineering, Jayaswal Neco Industries, Kirloskar Ferrous Industries, Mahindra Hinoday Industries, Sakthi Auto Components, Tata Motors (Production Engineering), and Welcast Steels.

Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is IIF in-plant training program. The IIF has established its center of education and training at Kolkata, which conducts various skill development programs regularly. A modular training program is conducted, which is equivalent to graduating in foundry technology and is also recognized by the Ministry of HRD. The IIF regularly conducts various technical seminars with the help of its 26 chapters spread throughout the country to impart exposure to the best practices and latest development in the foundry technology. Kolhapur chapter has also introduced several skill development programs supported by the local government in association with the polytechnic institute. Such initiative needs to be replicated and upscaled.”

According to the report, one of the primary drivers in the market is make in India initiative. The automobile sector is responsible for generating 60% demand for the casting production in the country. Demand from sectors such as infrastructure, oil, and mining has slowed down. The automobile sector has shown promising growth in India since 2014. The foundries expect growth for both ferrous and non-ferrous castings in defense procurement. The industry needs to invest and increase capacity, though it is approximately operating at 50% excess capacity. The industry should be energy-efficient and have skilled manpower. For instance, all medium and large-scale foundries are planning to have sand reclamation plants for reuse of sand in order to reduce energy consumption during manufacturing process.

Further, the report states that one major challenge in the market is environmental issues leading to increasing environmental cost. Tightening of government regulations on the release of waste produced by foundries in the environment is leading to increased investment in waste recycling process and technologies. This is hindering the growth of the Indian foundry market, as the majority of the Indian foundries are MSMEs with low market capitalization. Foundries are responsible for the emission of harmful and poisonous gases and solid wastes that cannot be reused. The waste products generated depend on the type of molding technology, furnace, and metal used by the foundries during metal casting. Foundries that use non-ferrous and steel metals to produce casting generate harmful waste because of the cadmium, lead, zinc, and other metals present in the waste. Cupola furnaces cause more air pollution than induction furnaces. Also, induction furnace offers precise control on melting process and temperature.

Companies Mentioned

Electrosteel Castings, Hinduja Foundries, Nelcast, Rail Wheel Factory, Ashok Iron Works, Brakes India, Cooper, DCM Engineering, Jayaswal Neco Industries, Kirloskar Ferrous Industries, Mahindra Hinoday Industries, Sakthi Auto Components, Tata Motors (Production Engineering), Welcast Steels.

  • Executive summary
  • Scope of the report
    • Definition
    • Base year and forecast period
    • Market reportage
    • Market size computation
    • Market segmentation
      • Table Segmentation of foundry market in India
    • Vendor segmentation
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market size and forecast
      • Table Foundry market in India by revenue 2016-2021 ($ billions)
      • Table Foundry market in India by production 2016-2021 (million metric tons)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by casting type
    • Market overview
      • Table Segmentation of foundry market in India by casting type 2016-2021 (% share)
    • Gray iron casting
      • Table Foundry market in India by gray iron casting 2016-2021 ($ billions)
    • Non-ferrous casting
      • Table Foundry market in India by non-ferrous casting 2016-2021 ($ billions)
    • Ductile iron casting
      • Table Foundry market in India by ductile iron casting 2016-2021 ($ billions)
    • Steel casting
      • Table Foundry market in India by steel casting 2016-2021 ($ billions)
    • Malleable casting
      • Table Foundry market in India by malleable casting 2016-2021 ($ billions)
  • Market segmentation by end-users
    • Market overview
      • Table Segmentation of foundry market in India by end-users 2016-2021 (% share)
    • Automotive industry
      • Table Foundry market in India by automotive industry 2016-2021 ($ billions)
    • Electrical and construction industry
      • Table Foundry market in India by electrical and construction industry 2016-2021 ($ billions)
    • Industrial machinery industry
      • Table Foundry market in India by industrial machinery industry 2016-2021 ($ billions)
    • Agriculture industry
      • Table Foundry market in India by agriculture industry 2016-2021 ($ billions)
    • Other industries
      • Table Foundry market in India by other industries 2016-2021 ($ billions)
  • Market segmentation by trade
    • Market overview
      • Table Foundry market in India segmentation by trade 2011-2016 ($ millions)
    • Exports
      • Table Foundry market in India by exports 2012-2016 ($ millions)
    • Imports
      • Table Foundry market in India by imports 2012-2016 ($ millions)
    • Foundry market in India by type
      • Table Foundry market in India by type 2016 (%)
  • Market drivers
    • Focus on technology upgrades
    • Make in India initiative
    • Passage of GST bill by parliament
    • Increasing confidence within foundry industry
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Environmental issues leading to increasing environmental cost
    • Lack of highly skilled manpower
    • Intense competition within industry
    • Decline in growth of agriculture sector
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • IIF in-plant training program
    • Formation of foundry clusters
      • Table Foundry units by end-users: Market share in Batala and Jalandhar
      • Table Foundry units by end-users: Market share in Belgaum
      • Table Foundry units by end-users: Market share in Coimbatore
      • Table Foundry units by end-users: Market share in Kolhapur
      • Table Foundry units by end-users: Market share in Rajkot
    • Increasing investments in foundry market in India
  • Vendor landscape
    • Competitive scenario
      • Table Electrosteel Castings: Business segmentation
      • Table Hinduja Foundries: Business segmentation
      • Table Nelcast: Business segmentation
      • Table Rail Wheel Factory: Business segmentation
    • Other prominent vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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