Die Casting Machines Market Size, Share, and COVID Impact Analysis, By Type (Cold Chamber, Hot Chamber, and Gravity Die Casting Machine), By Material (Aluminum, Zinc, and Magnesium), By End-user (Transportation, Mechanical and Manufacturing Equipment, Building and Construction), and Regional Forecast, 2024-2032

Die casting is a widely used process for mass production of complex shapes with improved dimensional accuracy and surface finish. Die casting machines enable rapid production cycles, reduce porosity, and eliminate post-treatment work on each surface. These advantages are the main drivers surging the demand for die casting machines, primarily in the global market. In addition, the global manufacturing industry is growing rapidly, and the growing demand for complex-shaped products in the automotive industry is estimated to create significant growth opportunities for the die casting machines market during the forecast period.

However, die casting machines are limited to mass production due to high capital investment and running costs. This is expected to hamper the growth of the die casting machines market over the forecast period.

In recent times, rising fossil fuel costs and increasing adoption of electric vehicles are major drivers of the market. In addition, strict environmental regulations have been introduced in various regions to support the adoption of die casting processes and related machinery. For example, Europe has issued new regulations on carbon dioxide emissions for new and commercial vehicles. The agreed goal is to reduce the average CO2 emissions of new passenger cars by 15% in 2025 and 37.5% in 2030. This is an additional 31% agreement by 2030 compared to the 2021 baseline.

Impact of COVID-19 on the Global Die Casting Machines Market

The COVID-19 pandemic had a dramatic impact on all industries, slowing economic growth and losing most organizations’ profits. Companies focus on reducing operating costs, minimizing risk, and maximizing profits to compete in the market. The rapid spread of COVID-19 from China to all other parts of the world had a positive impact on some industries, but a negative impact on most others. Increasing numbers of COVID-19 cases around the world are creating blockages and business disruptions that are hindering the market growth. The primary factor hampering the growth of the market during the current pandemic crisis is the decreasing demand for aluminum from various industries.

Prior to the outbreak of COVID-19, the demand for finished products was high due to the strong acceptance of lightweight, high-strength castings, especially in the automotive field. Manufacturers involved in the automotive industry have focused on such products due to various fuel economy compliance standards set by European and U.S. regulatory agency guidelines. However, the COVID-19 pandemic had a negative impact on the automotive industry due to lower vehicle sales, resulting in lower casting adoption and negative market growth. According to MRFR analysis, automakers prefer aluminum to iron and steel for manufacturing parts. However, the suspension of production of automobile parts due to the closure of the manufacturing plant had a great impact on the growth of the market.

Key Insights

The report will cover the following key insights:

• Recent industry trends and developments.


• Competitive landscape & strategic key players.


• Complete background analysis including assessment of the global Die Casting Machines Market.


• Impact of COVID-19 on Die Casting Machines Market.

Analysis by End User

• Global rise in demand for electronics and other essential mechanical products with increase in population and increasing purchasing capacity of the consumers is enhancing the demand for die casting machines across the mechanical and manufacturing sector

Regional Analysis

The Asia Pacific region is estimated to occupy a large share of the global die casting machines market due to the growing manufacturing industry throughout the region. Emerging markets, such as China and India, expect significant growth in the automotive and other manufacturing industries. This is expected to significantly increase the demand for die casting machines in the region.

In addition, increasing demand for industrial equipment is expected to drive market growth in North America.

The emerging industrial manufacturing and automotive industries in Europe are estimated to boost the growth of the die casting machine market.

Middle East & Africa and Latin America are anticipated to grow moderately over the forecast period due to its steady growth across the manufacturing and mechanical, automotive sector.

Key Players Covered

The major companies in the global market include Toshiba Machine Co., Ltd., Buhler AG, Oskar Frech GmbH, UBE Machinery Inc., Toyo Machinery & Metal Co., Ltd., Birch Machinery Company, Colosio Srl, ZITAI PRECISION MACHINERY CO., LTD., HMT Machine Tools Limited, K. Technology Holdings Limited, Yizumi Precision Machinery Co. Ltd., GuanNan Die Casting Machine Co. Ltd., Suzhou Sanji, Wuxi Xinjiasheng Die Casting Manufacturing Co., Ltd., Huachen, and Ningbo Dongfang Die-Casting Machine Tool Co., Ltd.

Segmentation

Key Industry Developments

• January 2021 - The European Commission announced that it has approved the acquisition of joint venture control between Ube Industries and Mitsubishi Materials of the die casting machines market.  


• May 2020 - Bühler Group and Premier Tech have announced that their strategic collaboration will include a joint venture in China and a global bulk packaging partnership. The partnership is expected to give Buehler access to Premier Tech's bagging and pelleting technology in Canada through the PTBühler joint venture in China or directly through Premier Tech's facilities.