Global Automotive Parts Magnesium Die Casting Market 2019-2029: —
The global Automotive Parts Magnesium Die Casting Market is expected to register a CAGR of 8.47%, during the forecast period, 2019-2024. Application of magnesium in the automotive industry started in the early 19th century and is employed in vehicles for weight reduction 10% more than aluminum.
Some of the major factors driving the growth of the market are - increasing installation of magnesium die-cast components in passenger and luxury car segments, a rising establishment of new magnesium molding machinery, increasing automation in the die casting industry (resulting in rise in productivity), and high demand from the automotive industry, drawing attention of automotive manufacturers towards highly durable die casting parts.
Using magnesium in automotive parts provides certain benefits, for instance, automotive parts made using magnesium are 75% lighter than steel, 33% lighter than aluminum; possess high impact resistance, and high strength to weight ratio; they are 100% recyclable, and have an abundant material supply with excellent dimensional stability. Automakers are utilizing magnesium for designing and manufacturing a wide range of products, such as instrument panel frames, steering wheels, seat frames, gearbox, and airbag housings, brackets, front-end carriers, engine blocks, and structural components.hindering the market growth.
Access the PDF sample of Global Automotive Parts Magnesium Die Casting Market report @ https://www.orbisresearch.com/contacts/request-sample/3587178
Scope of the Report:
The automotive parts magnesium die casting market report cover the growing adoption of magnesium parts in the automotive sector, and technological advancements. The global automotive parts magnesium die casting market has been segmented by production process type, application type, and by geography.
Key Market Trends:
Increased Application in Body Assemblies
Key body structure applications, such as floor rails, shock towers, and pillars are now being manufactured using high-pressure non-ferrous castings. The magnesium usage in automotive body parts is limited but has recently been observed to be expanding.
GM has been employing a single-piece die cast roof frame since the introduction of C-5 Corvette in 1997. Cadillac XLR roadster's retractable hardtop convertible roof and its top frame employ magnesium alloys. SUVs and Ford F-150 trucks are coated with magnesium castings for the vehicles radiator support, and Dodge Viper with one-piece magnesium front-of-dash die casting. In Europe, for body panel applications, German auto giants, Volkswagen and Mercedes, have employed thin-wall magnesium die castings. Thin-wall casing application constitutes the major part of the magnesium usage in the automotive industry. Thin-wall die castings, such as closure inners, can often offset the material cost penalty of magnesium over steel sheet metal construction due to part consolidation.
The first magnesium die-cast closure ever to meet 55 mph rear crash requirements is used in lift gate inner panel, and the part is found in 2010 Lincoln MKT. The key aspect in manufacturing the thin-wall castings that are approximately less than 2mm lies in the design of casting making use of proper radii and for smooth die-filling the ribs to stiffen the parts.
Browse Complete Global Automotive Parts Magnesium Die Casting Market Report@ https://www.orbisresearch.com/reports/index/automotive-parts-magnesium-die-casting-market-growth-trends-and-forecast-2019-2024
Thus, depending on the application and area of employment, magnesium die casting components are gaining popularity within the body part segment and their usage is expected to increase during the forecast period.
North America - Leading the Market
North America is a matured market for die casting around the world. The maturity of this market in the region is mainly owed to the large-scale domestic production, government initiatives, and availability of resources.
The new Ford Explorer, which was considered the truck of the year in North America, uses magnesium seat frames. The strategic use of magnesium parts enabled the Ford Motor Company to deliver quality, fuel efficiency, and reliability to its customers. Magnesium being the lightest material is now becoming a key element for powertrain and body applications in the vehicles of leading automakers, such as Ford, Lincoln, etc.
The United States has one of the largest automotive markets in the world. It is home to over 13 major auto manufacturers. With an average of 8 million passenger vehicle production per annum and regulations pertaining to the emission standards, automakers are sourcing components for manufacturing lightweight vehicles by employing alloy and die-cast parts, which, in turn, is driving the market for overall automotive parts magnesium die casting in the country.
Within North America, the United States is the major market, accounting to over 86.14% of the regional market share. Canada accounted for 13.72% of the market in 2017. It is expected to grow considerably, with the presence of global players, such as Meridian Lightweight Technologies.
Meridian Light Weight Technologies, Rima, Pace Industries, Shiloh, GF Automotive, Gibbs Die casting (Koch Enterprises), and Dynacast are the some of the major players in the global automotive parts magnesium die casting market.
The global market for automotive parts magnesium die casting is highly consolidated. Meridian Light Weight Technologies emerged as the single largest supplier of magnesium automotive die cast components in 2018 followed by Brazil-based Rima. Key players in the market have focused their revenues on R&D to come up with better production processes and alloys. This strategy will assist in the production of premium quality die-cast parts for the global automotive and industrial sectors. Key players have also expanded their reign globally by various mergers, expansions, and acquisitions.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Avail Discount@ https://www.orbisresearch.com/contacts/discount/3587178
Table of Content:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.5 Market Restraints
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 Brabant Alucast
6.3.2 Chicago White Metal Casting Inc.
6.3.3 Continental Casting LLC
6.3.4 Georg Fischer Limited
6.3.5 Gibbs Die Casting Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Name: Hector Costello
Email: Send Email
Organization: Orbis Research
Address: 4144N Central Expressway, Suite 600, Dallas, Texas - 75204, U.S.A.
Phone: +1 (214) 884-6817, +91 895 659 5155
Release ID: 88911201