As per the report titled “Global Die Casting Machine Market Insights, Forecast to 2025,” the global Die Casting Machine market is expected to offer strong growth prospects in the coming years. In 2017, the global Die Casting Machine market was valued at a US$ 1.91 Bn and by the end of the assessment year (2023), it is estimated to touch a value of more than US$ 2.85 Bn, expanding at a value CAGR of 6.91% during the forecast period.
Global Die Casting Machine Market: Market Drivers
The automotive industry witnessing a shift toward the use of lightweight materials is foreseen to push the demand for aluminum products in the global Die Casting Machine market. High demand for aluminum cast parts that are light in weight could increase the use of aluminum Die Casting Machine in the manufacture of automotive parts. Such lightweight parts are mainly adopted in automotive production assembly. On the other hand, the demand for highly durable products in the global Die Casting Machine market is projected to increase on the backdrop of the rising use of the products in the aerospace and defense industry.
Owing to the development of Die Casting Machine with the use of new techniques, its function has become more specific, safe and also all-round. Automotive, low-cost, suitable and reliable operation and robust, high operating efficiency are expected to drive the development of the Die Casting Machine industry. If manufacturers can truly consider the distinctiveness and design of new technology, we believe that Die Casting Machine manufacturers could win a large market share.
Global Die Casting Machine Market: Forecast by Nature
Die casting is a manufacturing process for producing accurately dimensioned, sharply defined, smooth or textured-surface metal parts. It is accomplished by forcing molten metal under high pressure into reusable metal dies. The process is often described as the shortest distance between raw material and finished product.
By nature, the global Die Casting Machine market is segmented into Hot Chamber Die Casting Machines Picture and Cold Chamber Die Casting Machines. Cold Chamber Die Casting Machines are expected to remain dominant in the global Die Casting Machine market throughout the forecast period with a revenue share of 55.01% that could be achieved in 2023.
Global Die Casting Machine Market: Forecast by Application
The application category consists of segments such as Automobile Industry, Instruments, 3C Industry and others. Automobile Industry is estimated to account for a volume share of over 63.28% in 2023 and increase at a CAGR of 8.83% over the forecast period.
Global Die Casting Machine Market: Key Players
Buhler, Toshiba Machine, Frech, UBE Machinery, Italpresse, Toyo Machinery & Metal, Colosio Srl, Birch Machinery Company, Zitai Machines, L.K. Group, Yizumi Group, Guannan Die Casting Machine, Suzhou Sanji, Wuxi Xinjiasheng, Huachen and Ningbo Dongfang are the key vendors included in this report.
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