Published Date: 2021-07-06
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North American Automotive Casting Market size is estimated to cross USD 25 billion by 2027, according to a latest forecast report by Graphical Research. The growing population, rising disposable incomes, supporting investments, and technology trends are expected to boost global auto production. These positive trends associated with the automotive industry coupled with the increasing importance of lightweight construction materials to reduce vehicle weight will stimulate the industry growth.
Increasing usage of magnesium, zinc, and aluminum die castings is helping automobile makers to manufacture hybrid vehicles with low fuel consumption and low emissions. In addition, the use of die casting is prevalent in US, especially for electric vehicles to make it lightweight for better performance in terms of braking.
The aluminum material segment will account for over USD 15 billion by 2027 in North America automotive casting market size. Aluminum cars have better acceleration and excellent braking & handling. The main benefit of using aluminum in the automotive industry is to improve fuel efficiency. Aluminum cars have safety advantages and require shorter braking distances, which significantly reduce the risk of potential collisions. It has significant environmental benefits as about 90% of the automotive scrap can be recycled, thus proliferating the demand for aluminum.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1873/north-america-automotive-casting-market
Sand casting will be witnessing a growth rate of 3.6% over the projected timeframe. One of the main advantages of this technique is that it can process a variety of ferrous and non-ferrous metals. Another major advantage of this process is the low cost of the tool. In addition, this process requires a shorter lead time and provides excellent design flexibility, accelerating the growth of sand casting.
The North America automotive casting industry from brakes & wheels is growing at a CAGR of 5% from 2017 to 2027. Due to the lightweight, easy use, and excellent durability of alloy wheels, the demand for alloy wheels will continue to grow, in turn, supporting the segment growth. The innovative design of brake calipers, especially for high-performance cars, was developed to significantly minimize the on-track operating temperature, thereby raising system performance. Improvements in the product will spur industry growth.
The aftermarket segment is set to witness significant growth during the forecast period driven by continuous research & development programs related to automobile manufacturing and strict regulatory environment assessment to reduce vehicle weight & emission levels.
The North America automotive casting market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Material
North America Market, By Process
North America Market, By Application
North America Market, By Distribution Channel
North America Market, By Vehicle
The above information has been provided for the following countries:
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