Market Size of China Automotive Parts Magnesium Die Casting Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Automotive Parts Magnesium Die Casting Market Analysis
The China Automotive Parts Magnesium Die Casting Market is projected to grow with a CAGR of more than 6 % during the forecast period.
- Owing to the high demand of automobiles in the region, China is one of the largest markets for automobiles in the world. the presence of leading automobile manufacturers as well as the component manufacturers is driving the growth in the region.
- However, because of the ongoing trade war between United States and China, the economy is expected to be heading towards a recession and the automobile sales are expected to witness a downfall for a couple of years until the end of trade tensions.
- With the increase in adoption of light weight ferrous materials to reduce the weight of automobile, majorly driven by the stringent policies imposed by CAFÉ standards to cut emission and increase fuel efficiency of the vehicle is driving growth in the market.
- Rules imposed by OSHA and NADCA policies to improve the technical workforce are expected to improve production standards in the die casting industry.
China Automotive Parts Magnesium Die Casting Industry Segmentation
The China Automotive Parts Magnesium Die Casting Market report covers a detailed study on the latest trends and innovations in the market which is segmented by is Segmented by Production Process (Pressure Die Casting, Vacuum Die Casting, Squeeze Die Casting and Semi-Solid Die Casting), Application Type (Engine Parts, Transmission Components, Body Parts and Others). Along with the major players, their strategies, innovations, technological advancements and financials are also covered in the report.
| Production Process Type | |
| Pressure Die Casting | |
| Vacuum Die Casting | |
| Squeeze Die Casting | |
| Semi-Solid Die Casting |
| Application Type | |
| Engine Parts | |
| Transmission Components | |
| Body Parts | |
| Others |
China Automotive Parts Magnesium Die Casting Market Size Summary
The China Automotive Parts Magnesium Die Casting Market is experiencing significant growth, driven by the country's status as one of the largest automobile markets globally. The presence of major automobile and component manufacturers in the region is a key factor propelling this expansion. The market is benefiting from the increasing adoption of lightweight ferrous materials, which are essential for reducing vehicle weight and enhancing fuel efficiency, in line with stringent emission standards. Despite challenges posed by the ongoing trade tensions between the United States and China, which are expected to impact automobile sales temporarily, the market continues to evolve. The implementation of policies by OSHA and NADCA aimed at improving the technical workforce is anticipated to enhance production standards within the die casting industry.
The use of magnesium in automotive body parts, although limited, is gradually expanding, with applications in key body structures such as floor rails and shock towers. Notable automotive manufacturers, including GM and European giants like Volkswagen and Mercedes, are incorporating magnesium die castings in their vehicles to meet regulatory standards and reduce CO emissions. The market is characterized by a fragmented landscape, with major players like Meridian Light Weight Technologies and Pace Industries leading the charge in innovation and global expansion through strategic mergers and acquisitions. These companies are focusing on research and development to improve production processes and alloys, ensuring the delivery of high-quality die-cast components for the automotive and industrial sectors.
China Automotive Parts Magnesium Die Casting Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Production Process Type
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2.1.1 Pressure Die Casting
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2.1.2 Vacuum Die Casting
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2.1.3 Squeeze Die Casting
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2.1.4 Semi-Solid Die Casting
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2.2 Application Type
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2.2.1 Engine Parts
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2.2.2 Transmission Components
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2.2.3 Body Parts
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2.2.4 Others
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China Automotive Parts Magnesium Die Casting Market Size FAQs
What is the current China Automotive Parts Magnesium Die Casting Market size?
The China Automotive Parts Magnesium Die Casting Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in China Automotive Parts Magnesium Die Casting Market?
Gibbs Die Casting Group, Pace Industries, Shiloh Industries Inc., George Fischer AG and Meridian Lightweight Technologies are the major companies operating in the China Automotive Parts Magnesium Die Casting Market.
