Casting is a 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 known 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 produced by any other method. Casting equipment helps to reduce the time for completing the full casting process and increases productivity.
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Key Drivers of the Casting Equipment Market
Rise in demand for lightweight metals that are utilized in various industries, especially the automotive industry, to assemble automobiles, is increasing the demand for casting equipment. Moreover, rise in manufacturing volume in all types of industries also boosts the sale of casting equipment, globally. These are the key factors that are projected to propel the casting equipment market during the forecast period.
Simulation Programs such as CAD Creating Opportunities in the Casting Equipment Market
New opportunities are emerging in the casting equipment market globally with the emergence of CAD programs that optimizes casting design. One new opportunity in the current casting equipment technology cycle is adoption of CAD files to guide additive manufacturing programs, such as in 3D-printing of bonded sand into optimally designed molds and cores. These trends help in redesigning castings (or fabrications, or other assemblies) as lighter, more functionally effective cast structural elements of vehicles, machines, etc. Coordinating with these trends also makes it possible to expedite the design of a customized machine to maximize the potential of its market niche.
Quality Defects during Casting Production a Restraint for the Casting Equipment Market
Quality defects are likely during the production of materials using casting equipment. Also, during the casting design process, there are risks of internal defects where metal flow is used to identify and reduce the risk of internal defects caused by gas pockets during mold filling. These factors act as a restraint for the growth of the casting equipment market.
Asia Pacific the Largest Growing Casting Equipment Market
China and Japan are the dominant countries in the casting equipment market. Growing demand for casting equipment in North America and Europe and increased awareness and benefits about casting equipment is offering new opportunities in these regions.
The casting equipment market growth in the APAC region can be credited to rising awareness about lightweight casting part equipment in countries such as India, Taiwan, and Indonesia.
Key Players Operating in the Global Market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level.
Some of the major companies identified in the casting equipment market are:
- C.E.I.A. SpA
- DISA Group
- Toshiba Machine Co., Ltd
- Kunkel Wagner
- LPM Group
- Baoding Well
- CR Hill Company
Casting Equipment Market: Research Scope
Casting Equipment Market, By Casting type
- Expendable mold casting
- Sand casting
- Loam casting
- Plaster mold casting
- Shell casting
- Investment casting
- Others (Loam –foam casting, Full mold casting)
- Non Expendable mold casting
- Permanent mold casting
- Die casting
- Semi-solid mold casting
- Others (Centrifugal casting, Continuous casting)
Casting Equipment Market, By End-user
- Pump & Valve
- Energy & Power generation
- Others (Mining, Marine, etc.).
Casting Equipment Market, By Machine Type
- Vertical machine
- Horizontal machine
Casting Equipment Market, By Distribution Channel
The report on the casting equipment market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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