Market Size of US 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 |
US Automotive Parts Magnesium Die Casting Market Analysis
The US 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, United States 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.
US Automotive Parts Magnesium Die Casting Industry Segmentation
The US 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), and 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 |
US Automotive Parts Magnesium Die Casting Market Size Summary
The U.S. automotive parts magnesium die casting market is poised for significant growth, driven by the high demand for automobiles and the presence of major automobile and component manufacturers in the region. The market is benefiting from the increasing adoption of lightweight ferrous materials, a trend propelled by stringent CAFÉ standards aimed at reducing emissions and enhancing fuel efficiency. 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 expand. The implementation of policies by OSHA and NADCA to enhance the technical workforce is anticipated to further improve production standards within the die casting industry.
The use of magnesium in automotive body parts, although limited, is experiencing expansion, particularly in key applications such as floor rails, shock towers, and pillars. Notable automotive manufacturers, including GM and European giants like Volkswagen and Mercedes, are increasingly utilizing thin-wall magnesium die castings for various vehicle components. This shift is driven by the need to meet stringent CO emission regulations and the cost-effectiveness of magnesium over traditional steel sheet metal in certain applications. The market is characterized by a high level of consolidation, with major players like Meridian Light Weight Technologies and Pace Industries leading the charge in research and development to enhance production processes and alloys. These companies are also expanding their global presence through strategic mergers and acquisitions, further solidifying their position in the market.
US 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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US Automotive Parts Magnesium Die Casting Market Size FAQs
What is the current US Automotive Parts Magnesium Die Casting Market size?
The US 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 US Automotive Parts Magnesium Die Casting Market?
Meridian Lightweight Technology, George Fischer AG, Shiloh Industries, Pace Industries and Gibbs Die Casting Group are the major companies operating in the US Automotive Parts Magnesium Die Casting Market.
