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The aluminum die casting machinery market share is expected to increase by USD 1.18 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.49%.
This aluminum die casting machinery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aluminum die casting machinery market segmentation by product (HPDC, LPDC, and others) and geography (North America, Europe, APAC, South America, and MEA). The aluminum die casting machinery market report also offers information on several market vendors, including AGRATI AEE Srl, Birch Machining Co., Buhler AG, Endurance Technologies Ltd., Form Technologies, HMT Machine Tools Ltd., L.K. Technology Holdings Ltd., SHIBAURA MACHINE CO. LTD., Toyo Machinery and Metal Co. Ltd., and Ube Industries Ltd. among others.
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The rising focus on industrial automation across the world is notably driving the aluminum die casting machinery market growth, although factors such as strong competition in mid-range machines market may the impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aluminum die casting machinery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Aluminum Die Casting Machinery Market Driver
??Rising focus on industrial automation across the world is a major driver fueling the aluminum die casting machinery market growth. Industrial automation is improving the bottom-line, operational efficiency, and productivity of manufacturers. Hence, manufacturers across the world have started preferring industrial automation. This is driving the demand for advanced die cast machines to meet the complex requirements of automated technologies. The increased focus on enhancing the manufacturing output in emerging economies is increasing the demand for industrial automation equipment. Emerging economies are working to create a positive environment for the manufacturing sector to increase net export. For instance, under the Make in India campaign, the Indian government is aiming to increase the share of the manufacturing sector to the country's GDP to 25% by 2022. Also, rising labor cost in prominent manufacturing countries such as China is increasing investments in manufacturing plants in other emerging economies. The rising investment to increase manufacturing in emerging economies is creating a significant demand for industrial automation equipment, which is a positive factor for the market in focus. Technavio expects that the demand for aluminum die casting machines for industrial automation will increase in emerging economies during the forecast period.
Key Aluminum Die Casting Machinery Market Trend
Growing global production of bauxite ore is a major trend influencing the aluminum die casting machinery market growth. The global production of bauxite ore is expected to increase significantly, by approximately 6% per annum, during the forecast period. This increase is expected as several new bauxite mining projects have been completed recently. For instance, Rio Tinto Group (Rio Tinto), operationalized its Amrun bauxite mine in Queensland, Australia, in March 2019. With this mine, the company plans to increase its export of bauxite ore by 10 million tons per annum (mtpa). In December 2018, Alufer Mining Ltd. (Alufer) opened its Bel Air bauxite mining in Guinea-Conakry. Alufer plans to reach a production target of 5.5 mtpa. The mining of bauxite in India is increasing rapidly due to a host of factors. For instance, the Government of India increased the lease area for the mining of bauxite from 10 square km (sq. km) to 50 sq. km in March 2016. The export duties for bauxite were also decreased from 20% to 15% in the annual budget of 2016/2017. Thus, the output of bauxite in India is expected to increase by 100% in 2021 compared with 2016. The increasing production of bauxite ore during the forecast period is expected to keep the price volatility of bauxite ore and aluminum and its alloys in check. This is expected to influence the market positively.
Key Aluminum Die Casting Machinery Market Challenge
Strong competition in mid-range machines market is a major hindrance to the aluminum die casting machinery market growth. The declining sales of ICE vehicles in most major markets have immediately impacted the demand for aluminum die cast parts and the profitability of automakers and their suppliers. Most aluminum die cast parts that are used as engine and transmission parts are produced by aluminum die casting machinery that has a locking force range of 1,800 kilonewtons (kN) to 2,500 kN. These machines are offered by a large number of vendors as a rapid increase in demand for aluminum die cast parts for engine and transmission parts, especially since 2009, has led to the expansion of the manufacturing facilities of the leading vendors and led to overcapacity. Thus, the supply-demand imbalance, coupled with the declining demand for aluminum die casting machinery from one of the major end-user industries, is expected to increase competition, and a number of vendors that are making losses are expected to divest or shut down their operations during the forecast period.
This aluminum die casting machinery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global aluminum die casting machinery market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aluminum die casting machinery market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the aluminum die casting machinery market encompasses successful business strategies deployed by the key vendors. The aluminum die casting machinery market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The aluminum die casting machinery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the aluminum die casting machinery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global industrial machinery market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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