Market Size of North America 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 |
North America Automotive Parts Magnesium Die Casting Market Analysis
The Italy 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, North America 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 France, 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 Magnesium Die Casting Industry Segmentation
The North America 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) and Countries. 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 |
| Geography | |
| United States | |
| Canada | |
| Others |
North America Automotive Parts Magnesium Die Casting Market Size Summary
The North America automotive parts magnesium die casting market is experiencing growth driven by the region's status as one of the largest automobile markets globally, supported by the presence of leading automobile and component manufacturers. The demand for lightweight ferrous materials is increasing, propelled by stringent CAFÉ standards aimed at reducing emissions and enhancing fuel efficiency. Despite challenges such as the ongoing trade tensions between the United States and France, which may impact automobile sales, the market is benefiting from advancements in die casting technologies and policies aimed at improving production standards. The use of magnesium in automotive body parts, although limited, is expanding, with applications in key body structures and components like floor rails, shock towers, and pillars. This shift is further supported by the adoption of thin-wall die castings, which offer cost-effective alternatives to traditional materials like steel.
The market is characterized by a fragmented landscape with key players such as Meridian Light Weight Technologies, Pace Industries, and Shiloh Industries Inc. leading the charge in innovation and production processes. These companies are focusing on research and development to enhance the quality of die-cast parts, catering to both automotive and industrial sectors. The strategic initiatives by major players, including mergers, expansions, and acquisitions, are aimed at strengthening their global presence and improving production capabilities. Regulatory measures by the Environmental Protection Agency and workforce development initiatives by OSHA and NADCA are also contributing to the market's growth trajectory, encouraging the use of lightweight metals and advancing technical expertise in the die casting industry.
North America 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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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Others
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North America Automotive Parts Magnesium Die Casting Market Size FAQs
What is the current North America Automotive Parts Magnesium Die Casting Market size?
The North America 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 North America 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 North America Automotive Parts Magnesium Die Casting Market.
