The India Foundry Market size is estimated at USD 19.46 billion in 2024, and is expected to reach USD 31.77 billion by 2029, growing at a CAGR of 10.30% during the forecast period (2024-2029).
During the COVID-19 pandemic in December 2020, more than 400 small foundries in Coimbatore shut their doors due to rising raw material prices. The shutdown affected lakhs of employees working in and with the foundries, as well as in other industries such as pumps, textile machines, automobiles, and other engineering sectors. Moreover, in March 2022, several foundry units in Kolhapur were temporarily closed and declared three to four days of holiday for their employees due to a sharp increase in raw material prices caused by the Russia-Ukraine war.
The report covers major players operating in the India Foundry Market. The market is highly fragmented and competitive, with large companies claiming significant market share.
Some of the strong players in the country include A Cast Foundry, Aditya Birla Management Corp. Pvt. Ltd., JSW STEEL Ltd., Larsen and Toubro Ltd., Brakes India Pvt. Ltd., Ashok Iron Works Pvt. Ltd., Menon and Menod Ltd., Nelcast Ltd., Tata Sons Pvt. Ltd., CALMET, Cooper Corp. Pvt. Ltd., DCM Ltd., Electrosteel Castings Ltd., Fortune Foundries Pvt. Ltd., Gujarat Metal Cast Industries Pvt. Ltd., etc.,
Major players in the market are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to remain competitive in the market. For instance, in June 2022, Brakes India and Volvo Group ventured into producing green iron castings at Brakes India’s foundries to reduce their carbon footprint.
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