Casting is manufacturing process in which molten material is poured into a mold or hollow space of the required shape and then allowed to solidify. The solidified part, also called as casting, is extracted from the mold to complete the process. Casting substances can be metals or various other cold setting material that are prepared by mixing two or more than two components, such as clay or plaster. Casting is generally employed to manufacture complex shapes that are hard to be produce by any other method. The casting equipment helps to reduce the time for completing the full casting process and increase the productivity.
Key factor driving the cast equipment market is, the rising demand for lightweight metals that are utilized in various industries, especially the automotive industry. Casting equipment is mostly employed by automotive part manufacturers in order to produce lightweight aluminum cast parts that are utilized in the assembly of automobiles. Moreover, rise in volume of manufacturing in all types of industries is also boosting the sale of cast equipment, globally. These are key factors that are projected to propel the casting equipment market during the forecast period.
The global casting equipment market can be segregated based on casting type, end-use industry, machine type, sales channel, and region. Based on casting type, the market can be divided into sand casting, die casting, shell mold casting, centrifugal casting, permanent mold casting, lost wax casting, and lost foam casting.
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Moreover, the die casting segment can be sub-segmented into hot chamber machines and cold chamber machines. In terms of end-use industry, the casting equipment market can be bifurcated into pump & valve, automotive, aerospace & defense, agriculture, HVAC, energy & power generation, and others (mining, marine, etc.). Furthermore, based on machine type, the casting equipment market can be classified into vertical machine and horizontal machine. Based on sales channel, the casting equipment market can be split into offline sales channel and online sales channel. The offline sales channel dominates the overall market. It is expected to maintain its dominance during the forecast period.
In terms of region, the global casting equipment market can be segregated into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the casting equipment market in Europe include the markets in the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the analysis and forecast of the casting equipment market in GCC countries, South Africa, and Rest of Middle East & Africa. The South America casting equipment market has been segmented into Brazil, Mexico, and Rest of South America. The casting equipment market in Asia Pacific is expected to expand at a significant CAGR during the forecast period due to rising awareness about the lightweight casting part is projected to boost the market for casting equipment in the region.
Key players operating in the global casting equipment market include Yasui, C.E.I.A. SpA, TOSHIBA MACHINE CO., LTD, Norican Group (Disa Group), Loramendi S.Coop., KÜNKEL WAGNER Germany GmbH, Sinto Group, Baoding Well foundry machinery co. ltd., LPM Group, CALMET, Fidus Achates Engg. Pvt. Ltd., Centrifugal Casting Machine Company, Inc., Zitai Precision Machinery Co., Ltd., General Kinematics Corporation, DIDION International Inc., REMIX S.A., and CR Hill Company.
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Key manufacturers are focused on enhancing their efficiency to increase their user base and expand their global presence. They are emphasizing on quality, price, and brand in order to compete with other key players and enhance their market share. Furthermore, they are focused on offering an extensive range of casting equipment to various end-user industries.
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