The global die casting machines market was valued at US$ 2.8 billion in 2021 and it is anticipated to grow up to US$ 5.0 billion by 2031, at a CAGR of 5.8% during the forecast period.
Die casting machines are conventionally employed in casting non-ferrous metals, including aluminum, zinc, copper, lead, and magnesium. Moreover, the die casting machines are used in tin-based alloys. The use of multiple equipment in the die casting machine has gathered steam in small to medium-sized castings, particularly due to the cost-effectiveness factor. Further, modern die casting machines are capable of providing excellent surface finish and marked dimensional consistency. The growing uptake of die casting machines in manufacturing units pertaining to high-strength suspension automotive is an essential factor boosting the demand for die casting machines.
To Remain ‘Ahead’ Of Your Competitors, Request for A Sample –https://www.globalinsightservices.com/request-sample/GIS23229
Market Drivers and Trends
The automotive industry is keen on adopting new technologies to make their vehicles faster and safe simultaneously. Vehicle manufacturers use modern technologies and incorporate mechanisms to ensure every component used within vehicles is of perfect shape, quality, and size. And aluminum die casting is one such mechanism that can help deliver intricate components, which can be used within breaking mechanisms and for manufacturing different types of vehicles. Also, aluminum die casting manufacturers use reliable metals such as aluminum and zinc to make dedicated structures and components, which vehicles can use for better reliability and durability.
Further, there are several reasons why the automobile industry tends to adopt aluminum die casting as a method of manufacturing components, such as brake pads and seat belt clips. Some of the benefits of using aluminum die casting in the automobile industry include safety & reliability, manufacturing lightweight components, flexibility for making intricate components with better efficiency, and manufacturing of eco-friendly & sustainable components. Thus, it is anticipated to aid the growth of the die casting machines market in the forecast period.
Get A Customized Scope to Match, Your Need Ask an Expert –https://www.globalinsightservices.com/request-customization/GIS23229
Global Die Casting Machines Market Segmentation
- Cold Chamber Die Casting Machine
- Hot Chamber Die Casting Machine
- Gravity Die Casting Machine
By End User
- Mechanical and Manufacturing Equipment
- Building and Construction
Major Players in the Global Die Casting Machines Market
The key players studied in the global die casting machines market are AGRATI AEE S.r.l (Italy), Bühler AG (Switzerland), Form Technologies (US), L.K. Technology Holdings Limited (Hong Kong), Norican Group (ItalPresseGauss) [Denmark], Oskar Frech GmbH + Co. KG (Germany), Shibaura Machine CO., LTD. (Japan), Toyo Machinery & Metal Co., Ltd. (Japan), Ube Machinery Corporation, Ltd. (Japan), and Zitai Precision Machinery Co.,Ltd. (Taiwan).
For In-Depth Competitive Analysis, Purchase this Report –https://www.globalinsightservices.com/checkout/single_user/GIS23229
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958