Foundry Market in India 2023-2027
Technavio has been monitoring the foundry market in India and is forecast to grow by $15684.57 mn during 2022-2027, accelerating at a CAGR of 10.77% during the forecast period. Our report on the foundry market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by focus on technology upgrades, make in India initiative, and increasing confidence within foundry industry.
Technavio's foundry market in India is segmented as below:
By End-user
- Automotive
- Electrical and construction
- Industrial machinery
- Agriculture
- Others
By Type
- Gray iron casting
- Non-ferrous casting
- Ductile iron casting
- Steel casting
- Malleable casting
This study identifies the Institute of Indian Foundrymen (IIF) in-plant training program as one of the prime reasons driving the foundry market growth during the next few years. Also, formation of foundry clusters and AI in foundry for design will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the foundry market in India covers the following areas:
- Foundry market sizing
- Foundry market forecast
- Foundry market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading foundry market vendors that include A Cast Foundry, Aditya Birla Management Corp. Pvt. Ltd., Ashok Iron Works P Ltd., Brakes India Pvt. Ltd., CALMET, Cooper Corp. Pvt. Ltd., DCM Ltd., Electrosteel Castings Ltd., Fortune Foundries Pvt. Ltd., Gujarat Metal Cast Industries Pvt. Ltd., Hackforth Holding GmbH and Co. KG, Jayaswal Neco Industries Ltd., JSW STEEL Ltd., Kalyani Group, Kirloskar Ferrous Industries Ltd., Larsen and Toubro Ltd., Menon and Menod Ltd., Nelcast Ltd., Tata Sons Pvt. Ltd., and The Sanmar Group. Also, the foundry market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.