Market Size of North America Automotive Parts 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 |
North America Automotive Parts Die Casting Market Analysis
The North America Automotive Parts Die Casting Market is projected to grow with a CAGR of more than 6 % during the forecast period.
- North America is second largest automotive market after Asia-Pacific region. Because of the ongoing trade tensions between two major economies United States and China, there is a slowdown in growth and demand for automobiles all around the world, the situation got more troubling for the automotive players after the rise of COVID-19 pandemic around the world. However, the situation is expected to become normal in the second half of 2021 and the demand is expected to rise again.
- 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.
North America Automotive Parts Die Casting Industry Segmentation
The North America Automotive Parts 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, Vaccum Die Casting, Squeeze Die Casting and Semi-Solid Die Casting), Application Type (Engine Parts, Transmission Components, Body Parts and Others), by Material Type (Aluminum, Zinc, Magnesium and Others ), and Country. Along with the major players, their strategies, innovations, technological advancements and financials are also covered in the report.
| Production Process | |
| Pressure Die Casting | |
| Vaccum Die Casting | |
| Squeeze Die Casting | |
| Semi-Solid Die Casting |
| Application Type | |
| Engine Parts | |
| Transmission Components | |
| Body Parts | |
| Others |
| Material Type | |
| Aluminum | |
| Zinc | |
| Magnesium | |
| Others |
North America Automotive Parts Die Casting Market Size Summary
The North America Automotive Parts Die Casting Market is poised for significant growth, driven by the increasing adoption of lightweight ferrous materials and magnesium die casting. This trend is largely influenced by stringent CAFÉ standards aimed at reducing emissions and enhancing fuel efficiency. Despite challenges such as trade tensions between the United States and China, which have led to a temporary slowdown in automobile demand, the market is expected to recover as these issues are resolved. The region's abundant magnesium resources, coupled with its properties like lightweight and pliability, are contributing to the rising use of magnesium die casting in the automotive industry. This material is particularly valued for its ability to form complex parts at low costs and its effectiveness in electromagnetic interference shielding.
The market landscape is characterized by a fragmented structure with numerous players holding small market shares. Key companies such as Rheinmetall AG, RYOBI Die Casting, and Martinrea Honsel are actively investing in research and development to innovate die casting processes and materials. These efforts are aimed at reducing vehicle weight and improving fuel efficiency, thereby meeting the growing global demand for automobiles. Strategic partnerships and expansions, such as those by Allison Transmission Holdings Inc. and Sundaram Clayton Limited, are further shaping the market dynamics. These developments underscore the region's role as a major automotive hub, with significant investments in production capacity to cater to both domestic and international markets.
North America Automotive Parts 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
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2.1.1 Pressure Die Casting
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2.1.2 Vaccum 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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2.3 Material Type
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2.3.1 Aluminum
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2.3.2 Zinc
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2.3.3 Magnesium
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2.3.4 Others
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North America Automotive Parts Die Casting Market Size FAQs
What is the current North America Automotive Parts Die Casting Market size?
The North America Automotive Parts 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 North America Automotive Parts Die Casting Market?
Rheinmetall AG, Ryobi Die Casting, Martinrea Honsel, KSM Castings and Nemak are the major companies operating in the North America Automotive Parts Die Casting Market.
