Investment Casting Market Size to Grow by USD 4.49 Bn, Majority of Market Growth to Originate from APAC

NEW YORK, Oct. 19, 2022 /PRNewswire/ -- The investment casting market has been segmented by application (automotive, industrial, aerospace and defense, and others) and geography (North America, APAC, Europe, Middle East and Africa, and South America). APAC will account for 35% of the market's growth during the forecast period. This growth is attributed to factors such as the presence of a strong production base for vehicles. Moreover, market growth in this region will be faster than the growth of the market in North America and South America. India is the key country for the investment casting market in APAC.

The investment casting market size is expected to grow by USD 4.49 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 5.01% during the forecast period, according to Technavio.

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Investment Casting Market: Segmentation Analysis

By application, the automotive segment will be the largest contributor to market growth during the forecast period. The automotive industry provides significant growth opportunities. Investment casting procedures are used to produce automotive components that are lightweight, easily maneuverable, and affordable. Iron, steel, and aluminum are the most commonly used metals for investment casting procedures. Such factors will fuel the market growth during the forecast period.

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Investment Casting Market: Drivers and Trends

The growth of the automotive industry is driving the investment casting market growth. Components that are made of plastic or polymers are generally used to make vehicles more environment-friendly. The use of plastic or polymers lowers hazardous emissions and raises the fuel efficiency of vehicles. However, some automotive components, such as chassis, engines, gearbox, exhaust system, and other metal components, are manufactured using the steel investment casting process to improve vehicle strength and durability. These components are essential in the automotive industry. Thus, the rising production of automotive vehicles across the world will increase the demand for investment castings during the forecast period.

An increase in air passenger traffic is a key trend in the market. The global investment casting market is expected to grow, with the rise in the production of commercial aircraft due to an increase in air passenger traffic. Moreover, the increase in per capita income and GDP has raised the demand for new commercial aircraft, which is directly related to the growth of air passenger traffic. Major stakeholders in the aerospace sector are establishing new plants to meet the need for aircraft owing to the increase in the demand for satellites and commercial and private aircraft. For instance, in October 2021, Saab AB inaugurated its new aerospace facility in West Lafayette, Indiana, US. Such expansions are expected to support the growth of the market during the forecast period.

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Investment Casting Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.01%

Market growth 2022-2026

USD 4.49 billion

Market structure

Fragmented

YoY growth (%)

4.81

Regional analysis

North America, APAC, Europe, the Middle East and Africa, and South America

Performing market contribution

APAC at 35%

Key consumer countries

US, Canada, India, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Key companies profiled

ABB Ltd., Alcoa Corp., Arconic Corp., Berkshire Hathaway Inc., Bharat Forge Ltd., Dongying Giayoung Precision Metal Co. Ltd., Form Technologies, Georg Fischer Ltd., Hitachi Ltd., Impro Precision Industries Ltd., Lestercast Ltd., MetalTek International, Milwaukee Precision Casting Inc., Ningbo Jiwei Melt Mould Castings Co. Ltd., PBS Group AS, RLM Industries Inc., Ryobi Ltd., Taizhou Xinyu Precision Manufacture Co. Ltd., and ZOLLERN GmbH and Co. KG

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

4.1 Five forces summary

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers

4.4 Threat of new entrants

4.5 Threat of substitutes

4.6 Threat of rivalry

4.7 Market condition

5 Market Segmentation by Application

5.1 Market segments

5.2 Comparison by Application

5.3 Automotive - Market size and forecast 2021-2026

5.4 Industrial - Market size and forecast 2021-2026

5.5 Aerospace and defense - Market size and forecast 2021-2026

5.6 Others - Market size and forecast 2021-2026

5.7 Market opportunity by Application

6 Customer Landscape

6.1 Customer landscape overview

7 Geographic Landscape

7.1 Geographic segmentation

7.2 Geographic comparison

7.3 North America - Market size and forecast 2021-2026

7.4 APAC - Market size and forecast 2021-2026

7.5 Europe - Market size and forecast 2021-2026

7.6 Middle East and Africa - Market size and forecast 2021-2026

7.7 South America - Market size and forecast 2021-2026

7.8 US - Market size and forecast 2021-2026

7.9 India - Market size and forecast 2021-2026

7.10 Canada - Market size and forecast 2021-2026

7.11 Germany - Market size and forecast 2021-2026

7.12 UK - Market size and forecast 2021-2026

7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

9.3 Landscape disruption

9.4 Industry risks

10 Vendor Analysis

10.1 Vendors covered

10.2 Market positioning of vendors

10.3 Alcoa Corp.

10.4 Berkshire Hathaway Inc.

10.5 Dongying Giayoung Precision Metal Co. Ltd.

10.6 Form Technologies

10.7 Georg Fischer Ltd.

10.8 Impro Precision Industries Ltd.

10.9 MetalTek International

10.10 Milwaukee Precision Casting Inc.

10.11 Taizhou Xinyu Precision Manufacture Co. Ltd.

10.12 ZOLLERN GmbH and Co. KG

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

11.3 Currency conversion rates for US$

11.4 Research methodology

11.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

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SOURCE Technavio