Global Industrial Casting Market 2015-2019
About Industrial Casting
Industrial casting is a manufacturing process in which molten or liquid metal is poured into a mold that contains a hollow cavity of the desired shape to form geometrically complex parts. A mold can be of various materials such as sand and ceramic plaster, and it is like a cup on which the molten metal is poured. The most common metals used for casting are iron, aluminum, magnesium, zinc, steel, and copper-based alloys.
Technavio's analysts forecast the global industrial casting market to grow at a CAGR of 7.88 % over the period 2015-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global industrial casting market for the period 2015-2019. For ascertaining the market size and vendor share, the report considers revenue generated from the sales of ferrous and non-ferrous industrial casting products.
Technavio's report, Global Industrial Casting Market 2015-2019, 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 in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Industrial Casting Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Industrial Casting Market: Alcoa, Dynacast International, Hitachi Metals, Precision Castparts and ThyssenKrupp
Other Prominent Vendors in the market are: Amcol Metal Casting, Bharat Forge, Georg Fischer and Schuler Group
Commenting on the report, an analyst from Technavio’s team said: “The governments of many developed countries are implementing stringent regulations on the manufacturing sector to preserve the environment. The US EPA has imposed several restrictions to reduce GHG emissions and emission levels in power plants. The governments have mandated the manufacture of automobiles with high fuel efficiency to reduce GHG emissions by the automotive industry. Consequently, OEMs and their suppliers are engaged in R&D activities to improve fuel efficiency, increase power, and reduce the weight of the core components of automobiles. This has also led to the use of non-ferrous materials such as aluminum and magnesium, which provide better structural strength and are lighter than parts made from traditional metals. Governments worldwide are likely to impose environmentally friendly legislation to reduce pollution, thereby forcing industries to adopt technologies that reduce emissions.”
According to the report, global industrial casting manufacturers have adopted many advanced technologies based on the needs of end-users such as the automotive and industrial machinery industries. Various industries require castings with exact dimensions of shape, size, and weight for their manufacturing purposes. This has compelled metal casting manufacturers to adopt simulation-based castings for developing perfect castings while manufacturing. These simulation-based models also help in decreasing wastage and reduce operation costs. Precise designs also benefit end-users as they meet their specific needs and this has become a standard in the casting industry.Further, the report states that intense competition among global metal casting manufacturers also restricts market growth.
Alcoa, Dynacast International, Hitachi Metals, Precision Castparts, ThyssenKrupp, Amcol Metal Casting, Bharat Forge, Georg Fischer, Schuler Group