Aluminum Die Casting Machine Market Research Report: Information by Type (High-Pressure Die Casting, Low-Pressure Die Casting and Others), by End Use (Power & Energy, Automotive, Industrial, Construction, Aerospace & Defense and Others), by Customers (OEM

Aluminum Die Casting Machine Market Research Report: Information by Type (High-Pressure Die Casting, Low-Pressure Die Casting and Others), by End Use (Power & Energy, Automotive, Industrial, Construction, Aerospace & Defense and Others), by Customers (OEM, and Reseller) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) – Industry Forecast Till 2030

The predicted value of the worldwide market for aluminum die casting machines in 2023 was USD 2,217.4 million. The global aluminum die casting machine market is anticipated to increase at a compound annual growth rate (CAGR) of 5.8% during the course of the forecast period. The rising demand for aluminum die-casting from the automotive and construction industries, as well as technological advancements in this field, are driving the global market for die casting machines.

The amount of aluminum used in car manufacturing has grown dramatically over the last few decades, and this trend is most likely to continue. Aluminum is lighter than steel because its density is only one-third that of steel. The weight of an automobile decreases by about one kilogram for every kilogram of aluminum utilized in the vehicle. It is also incredibly flexible, bendable, and corrosion resistant. Cars with aluminum bodies accelerate, brake, and handle more smoothly. The increase in fuel efficiency is the main advantage of employing aluminum in automobile construction. Aluminum-bodied vehicles are safer because they stop more quickly, reducing the chance of collisions. Moreover, it has a major positive environmental impact because almost 90% of automobile scrap aluminum can be recovered and used again. These developments will promote the usage of aluminum in the production of automobiles.

Perspectives on Market Segments
Based on type, the global market for aluminum die casting machines is split into three segments: high-pressure die casting, low-pressure die casting, and others.
The global market for aluminum die casting machines is made up of the end-use categories of power & energy, automotive, industrial, construction, aerospace & military, and others.
The global market for aluminum die casting machines is split into OEM and reseller sectors according to the customers they serve.

Regional Views
According to the study, the Asia-Pacific region's market for aluminum die casting machines is expected to grow at a significant compound annual growth rate (CAGR) and hold the largest share of the industry in 2022. The Asia-Pacific region is expected to grow quickly throughout the projection period as a result of the region's booming automotive industry.

Growing economies like China, India, and others are expected to see significant growth in the industrial and automotive sectors. In 2019, auto parts and accessories worth USD 33.63 billion were delivered from China, one of the major exporters of auto components worldwide. In addition to having low labor costs, China has earned the moniker the world's factory because to its aggressive monetary policies, lax regulations, low taxes, and low customs. According to India Brand Equity, the nation shipped 4.77 million automobiles in 2019, up from 4.63 million in 2018.

Long-term factors driving the market under study include the die casting industry's complex supply chain, the expanding automotive market, the use of aluminum casts in electrical and electronic applications, the growth of the commercial vehicle industry, and the use of die casting parts in industrial machinery.

In recent years, North America's market for aluminum die casting machines has expanded positively. Aluminum die casting is produced and used extensively in the United States. The COVID-19 pandemic led to a reduction in production and consumption activities, which significantly affected the upward growth trajectory of the U.S. market in 2020.

Important Players
A few of the top businesses in the industry are Toshiba Machine Co., Ltd., TOYO Machinery & Metal, Ube Industries, Ltd., Walbro, Alcast Company, Consolidated Metco, Inc., Zitai Precision Machinery Co., Ltd., Birch Machining Co., Endurance Technologies Ltd., Buhler AG, L.K. Technology Holdings Limited, and Gibbs Die Casting Corp.