die casting machines Market size to surpass around US$ 5.0 billion by 2031

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.

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Key Players
Global Die Casting Machines Market Segmentation

By Type

  • Cold Chamber Die Casting Machine
  • Hot Chamber Die Casting Machine
  • Gravity Die Casting Machine

By Material

  • Aluminum
  • Zinc
  • Magnesium
  • Others

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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.

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