According to the latest report by IMARC Group, titled, “India Metal Casting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ” the India metal casting market is expected to exhibit a CAGR of 6.8% during 2022-2027. Metal casting is a process wherein a mold with a hollow cavity is utilized for obtaining a desired geometric shape. It assists in the mass production of large and complex components while using alloys with low melting points. Other non-ferrous metals can also be utilized, including zinc, lead, pewter, copper, aluminum, magnesium, and tin-based alloys. At present, metal casting finds extensive application across India as it is cost-efficient and reduces the amount of wasted scrap metal.
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India Metal Casting Market Trends:
The escalating demand for lightweight vehicles in India due to stringent government regulation to minimize carbon emissions represents one of the key factors stimulating the market growth. In line with this, the thriving automotive industry and rapid urbanization are influencing the need for construction equipment. As a result, there is an increase in the sales of metal castings across the country. Moreover, with rising environmental concerns, leading manufacturers are introducing electric vehicles, which is anticipated to augment the market growth.
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India Metal Casting Market 2022-2027 Analysis and Segmentation:
Automotive and Transportation Market: Breakup by Component:
Automotive and Transportation Market: Breakup by Vehicle Type:
Automotive and Transportation Market: Breakup by Electric and Hybrid Type:
Automotive and Transportation Market: Breakup by Application:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of the Report:
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