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    North America Automotive Casting Market Forecast 2027 By Distribution Channel (OEM, Aftermarket), By Material (Iron, Steel, Aluminum), By Process (Sand Casting, Die Casting, Investment Casting), By Application (Engine, Transmission & Suspension, Brakes & Wheels), By Vehicle (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-wheelers), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: June 2021   |   Report ID: GR1873   |   Delivery: PDF  Request Free Sample

    North America Automotive Casting Market size surpassed USD 17.15 billion in 2020 and is predicted to register a growth of over 5.3% from 2021 to 2027. Strict regulations on pollution and energy efficiency requirements for vehicles will drive the industry growth.

    North America Automotive Casting Market

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    Countries in the region are investing heavily in the development of automotive castings. Government initiatives in this region have formulated measures to fuel the automotive industry demand. For instance, U.S. Energy Department has sanctioned more than USD 8 billion loans to finance the automotive sector through ATVM program, which has helped the companies to redesign their auto parts for better fuel efficiency.

    The COVID-19 pandemic has been a menace to vehicle manufacturers in North America. The demand for components, such as steel coils and foams, is further threatening the market and the industry's response toward supply chain disruptions is low. The trend among US automakers to halt production is spreading and may reduce the demand for metals & petrochemical products in the automotive sector.

    In the United States, the closure of assembly plants puts pressure on an increasingly troubled global supply base, and companies may violate agreements that may require bank intervention. For instance, in April 2020, Pace Industries LLC a leading die cast manufacturer in North America, forced to close to five manufacturing facilities thus reducing company’s profitability.

    North America Market, By Material

    North America Automotive Castings Market

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    The iron segment will witness over 4.5% CAGR during the forecast period. Cast iron has been widely used since the inception of the automotive industry. Two types of cast iron variants such as ductile iron and grey cast iron are prevalent in the automotive sector. These variants are used to manufacture disc brakes, crankshafts, cylinder heads, and engine blocks owing to their excellent properties such as wear resistance, stiffness, and high thermal conductivity.

    North America Market, By Process

    North America Automotive Castings Market

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    The die casting process segment will be valued around USD 17.5 billion by 2027. Die casting segment is categorized into high-pressure casting and low-pressure casting. Manufacturers will consider the different possibilities and limitations of the two processes before choosing a production process based on component requirements. The growth of this segment is driven by benefits, such as thinner cross-sections and smoother surfaces through high pressure die casting, as well as low cost and the ability to produce heavier parts through low pressure die casting.

    North America Market, By Application

    The North America automotive casting market from engine application will expand at 5.5% CAGR till 2027, which is mainly attributed to the manufacturing of engine mounts, engine blocks, exhausts manifold, cylinder heads, and turbo chargers. Growing efforts of manufacturers to reduce exhaust gas emissions and fuel consumption will proliferate segment growth.

    North America Market, By Distribution Channel

    Based on distribution channel, the OEM segment will grow at a CAGR of more than 5% in North America automotive casting industry. With the increasingly stringent emission standards, automakers are increasingly shifting car production to electrification. The growing demand for commercial vehicles in logistics and e-commerce is one of the main driving forces for market growth in this region.

    North America Market, By Vehicle

    The light commercial vehicle segment revenue is expected to cross USD 20 billion by 2027. The growing population due to industrialization will create additional resource requirements for freight transportation in the future. With the explosive growth of e-commerce and changes in the supply chain dynamics, the demand for light commercial vehicles is anticipatd to grow steadily. Automakers are heavily investing in R&D, which will continue to boost the segment growth in the industry.

    Competitive Industry Landscape

    Key players in the North America market include Bocar, Shiloh Industries, Bell Foundry, Zollern GmbH, Impro, Zetwerk, Wolf GmbH, Ryobi Limited, George Fischer Limited, and Endurance Technologies.
     


    Frequently Asked Question(FAQ) :

    What is the North America automotive casting market worth?
    The industry size of automotive castings in North America was valued at USD 17.15 billion in 2020 and is poised to rise at a growth rate of around 5.3% through 2027.
    What is the size of the North America iron automotive casting landscape?
    The regional market revenue from iron materials is anticipated to observe a 4.5% CAGR up to 2027.
    How are engine applications fostering the automotive casting industry trends in North America?
    The regional market share from the engine application segment is projected to witness a 5.5% CAGR till 2027 due to the higher emphasis of manufacturers in curbing exhaust gas emissions and fuel consumption.
    How is the North America automotive casting segment forecast driven by OEMs?
    The industry share of automotive castings in North America from the OEMs is likely to strike a CAGR of more than 5% through 2027 with an increasing need for commercial vehicles in the logistics and e-commerce sector.
    Why is the North America automotive casting sector growing from light commercial vehicles?
    Light commercial vehicles are expected to register close to USD 20 billion by 2027 owing to the expanding population and industrialization.

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