Market Trends of Automotive Parts Zinc Die Casting Industry
This section covers the major market trends shaping the Automotive Parts Zinc Die Casting Market according to our research experts:
Vacuum Die Casting dominating the market
Vacuum die casting is dominating the automotive parts zinc die casting market in terms of revenue during the forecast period. Reliability and quality are essential parameters of an automotive design, especially for transmission parts, as they are required to perform complex mechanical movements at high speeds. Hence, vacuum die casting is used to design and manufacture valve bodies, stators, and several other transmission components due to the process's inherent capability to produce high-quality weldable automotive components.
Currently, apart from transmission products, the ultra-high-vacuum die casting process is also applied for producing large and thin parts, such as pillars which are usually welded to automobile chassis.
The growing automotive industry and OEMs focus on deploying these machines across the manufacturing units for the production of several automotive components from major vacuum die casting machinery manufacturers anticipated to drive the market.
Several manufacturers are entering into collaborations, and strategic agreements with key OEMs and are planning to improve the performance of their products by adopting different strategies like the adoption of new technologies, launching new models, etc. For instance,
- In January 2022, LK Technology Group, and Guangdong Hongtu Technology Co., Ltd. announced that they have adhered to the cooperation concept of mutual support, and this time, the 6800T chassis integrated structural parts were successfully rolled off the production line and the 12000T die-casting unit was signed, which is a brand-new starting point.
Asia-Pacific - Leading the Market Growth
The automotive parts zinc die casting market is dominated by Asia-Pacific, followed by Europe and North America. With the growth in vehicle light-weight as well as the expanding industrial and manufacturing sectors, the automotive parts zinc die casting market has grown substantially in the Asia-Pacific region. India is consolidating its position, with strong domestic and external demand for high-quality zinc die-cast components at lower prices. The rapid expansion of small and medium-scale manufacturing industries across the region is likely to witness major growth in the market.
The government of China pushing automobile manufacturers and encouraging customers to adopt the electric vehicle by providing subsidies as the country is planning to completely ban diesel and petrol vehicles by 2040. An increase in the production of electric vehicles, such as passenger cars and commercial vehicles, is going to boost the sales of the automotive parts developed through die casting products.
The European automotive industry is technically the most advanced and innovative, globally. Due to the economic crisis and political pressures, the reduction of fuel consumption and CO2 emission has become a major agenda for automobile manufacturers in the region. This has been achieved through a reduction in the weight of the automobile, as well as better design and construction, which seems to be the most favorable solution at present.
Non-ferrous castings in Europe registered an average performance of 20 metric tons per employee, with a range of up to 58 metric tons. Moreover, over 80% of the castings produced in Europe are delivered within the European region.
