Process Automation Will Boost the Global Aluminium Die Casting Machinery Market until 2020, Says Technavio
June 2, 2016 | By Business Wire News
According to the latest research report released by Technavio, the global aluminum die casting machinery market is expected to grow steadily at a CAGR of 7% until 2020.
This report titled ‘Global Aluminum Die Casting Machinery Market 2016-2020‘, provides an in-depth analysis of the market in terms of revenue and emerging trends. In order to arrive at the market size, Technavio researchers have considered the demand for aluminum die casting machinery from the various end-user industries in the global aluminum die casting machinery market.
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“Global die casting machinery manufacturers are slowly incorporating various simulation-based software solutions in their offerings to cater to the needs of end-user who require cast parts with exact dimensions of size, weight, and shape to be used in the manufacturing process. This encourages die casting machinery manufacturers to adopt simulation-based castings that can create defect-free castings during the manufacturing process,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead industry analysts for metals and minerals.
Some of the other driving forces behind the growth of the global aluminum die casting machinery market are as follows:
- Growing market for lightweight vehicles to reduce CO₂ emissions
- Emerging aerospace and defense sector
- Demand from telecom sector fostering demand
Growing market for lightweight vehicles to reduce CO₂ emissions
Government regulations on vehicle emission standards have encouraged automotive manufacturers globally to shift their focus to the use of lightweight metals for producing parts of automobiles. The overall trend in the automotive industry is to produce complex cast parts that are light in weight and involve lower production cost. Lightweight vehicles result in lesser fuel consumption, and thus, lower carbon emissions. Their structural cast parts not only benefit diesel and gasoline vehicles, but also compensate for the increased weight of electric batteries and additional drive elements such as electric motors in electric or hybrid vehicles.
Production of lightweight vehicles will therefore create a demand for new aluminum die cast components, thereby increasing the potential demand for aluminum die cast machinery.
Emerging aerospace and defense sector
Aluminum die casting process, along with forging techniques, is widely used in the aerospace and defense sector. The market is witnessing increasing demand for aluminum and other lightweight alloys over steel for use in the manufacture of aircraft bodies and corresponding parts, as these metals reduce the overall aircraft weight to a large extent.
In 2016, the global aerospace and defense sector is expected to grow at 3%. Industry revenue is expected to revive due to an increase in defense budgets in major countries like the US, the UK, Japan, France, and several Middle East countries, as well as the growing trend toward passenger air travel.
Demand from telecom sector fostering demand
4G, also known as the long term evolution technology, is an evolution of the existing 3G network technology. This technology enables higher data throughput and is experiencing large-scale adoption in many developing nations. It has also significantly impacted the use of smartphones and development of related telecom network infrastructure.
Aluminum finds use in a broad range of infrastructure and networking equipment in telecom as well as computing industries. Electronic handheld devices, such as smartphones, use aluminum castings, as they shield against EMI/RFI signals and provide rigidity and durability along with significant weight reduction.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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