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Automotive Casting Market size was valued at USD 96.85 billion in 2022 and is poised to grow from USD 102.27 billion in 2023 to USD 158.15 billion by 2031, at a CAGR of 5.60% during the forecast period (2024-2031).

Automotive casting companies are focusing on expanding the scope of their services to different automotive manufacturers around the world. The market can be characterized as fragmented owing to the presence of several regional and international automotive casting providers. Automotive casting companies are also adopting advanced casting technologies to improve their efficiency and productivity while complying with the changing industry requirements. The rising sales of electric vehicles (EVs) around the world are also slated to catalyze the demand for automotive casting in the future. Market players will focus on providing high-performance and lightweight automotive components as the focus on emission reduction increases among different automotive companies around the world. Automotive casting suppliers are also focusing on increasing the use of innovative alloys to meet the changing design and structural requirements of different vehicles. 'Nemak', 'Linamar Corporation', 'Chicago White Metal Casting', 'Shiloh Industries', 'Gibbs Die Casting Corporation', 'Rheinmetall Automotive AG', 'Martinrea International Inc.', 'Dynacast', 'Sandhar Technologies', 'GF Automotive', 'Endurance Technologies', 'Ryobi Limited', 'Aisin Automotive Casting', 'Atek Metal Technologies', 'Teksid S.p.A.', 'Castech, Inc.', 'Mino Industrial', 'Zynp Corporation', 'Ahresty Corporation', 'Ryobi Die Casting Inc.'

Rising disposable income in developing economies and the growing popularity of electric vehicles are key factors that are promoting automotive production around the world and driving demand for automotive casting as well.

Lightweight Materials: Efforts to reduce the weight of vehicles have led to the adoption of lightweight automotive components made from materials such as magnesium and aluminum. Growing demand for electric vehicles is also estimated to bolster the demand for lightweight materials in the automotive casting industry going forward.

Asia Pacific accounts for the dominant share of the automotive casting market with China leading the charge. China is the biggest automotive manufacturer in the world and the growing transition to electric vehicles is boosting automotive manufacturing in the country. The presence of robust automotive component manufacturing facilities in this region also contributes to its colossal market share. Increasing disposable income of people in this region has boosted the sales of vehicles thereby creating an opportune scenario for automotive casting companies as well. Growing export of automotive components from Asian countries to different parts of the world is also creating new growth opportunities.

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Global Automotive Casting Market

Product ID: SQMIG25AG2022

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