India’s Automotive Parts Aluminum Die Casting Market, 2019 to 2024 – Gravity Die Casting Expected to Witness the Fastest Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “India’s
Automotive Parts Aluminum Die Casting Market, 2019 to 2024”
report has been added to ResearchAndMarkets.com’s
offering.
The Indian automotive parts aluminum die casting market was valued at
USD 1,691.17 million in 2018, and is expected to project a CAGR of 8.88%
during the forecast period, 2019-2024.
-
India has over 400 die casting companies, making it one of the major
suppliers of die cast parts in the global market. Of these, over 25
units produce around 12,000 ton of die cast parts per year. Aided by
the 1.3 million ton of aluminum production, the Indian automotive
market consumes over 0.28 million ton of die castings. -
The die casting market is highly correlative to the automobile
industry. India’s automobile industry is the fifth largest in the
world and is expected to become the third largest by 2020. India has a
low per capita car ownership of 20 vehicles per 1,000 citizens, as
compared to 800 vehicles per 1,000 citizens in the United States and
85 per 1,000 citizens in China. Thus, there exists a huge potential in
the Indian automobile and ancillary industry. -
Some of the major factors driving the growth of the market are growing
demand for and sales of cars and commercial vehicles, and enactment of
stringent emission and fuel economy norms. However, gradual shifting
focus towards zinc die casting in cars and parts may hinder the growth
of the market.
Key Market Trends
Latest Trend & Foreign Direct Investment (FDI) is Driving
the Market
The introduction of simulation-based castings is one of the key trends
that will drive the growth of the die casting market in the forthcoming
years. The simulation-based casting process is used to produce
components that are cost-effective, have high-precision, and are
reliable. This casting process involves various benefits, one of which
is that it ensures an easy and accurate fault detection.
Simulation-based manufacturing results in reduced wastage and
operational costs. Additionally, they can also predict defects and their
location easily, and more precisely than the conventional method.
The Indian government introduced 100% FDI into the automotive and
automotive component sector. As a result, many foreign companies have
started establishing facilities in the country for manufacturing
vehicles for the local and global markets. For instance:
-
Kia Motors is investing approximately USD 1.1 billion in India and
intends to set up a greenfield car plant to produce 3,000 units a year. -
One of the biggest automotive manufacturers in the world, BMW is
planning to manufacture a local version of below-500 CC motorcycle,
the G310R, in TVS Motor’s Hosur plant in Tamil Nadu -
One of the biggest Chinese automobile manufacturer, SAIC Motor, is
planning to invest USD 1 billion by the end of 2018, as well as is
exploring possibilities for setting up a manufacturing unit in one of
the three states of Maharashtra, Andhra Pradesh, and Tamil Nadu
Furthermore, many multinational players are trying to invest in the
country due to the increasing demand for electric automotive in the
country. For instance:
-
Suzuki Motor is planning to manufacture electric cars at its factory
in Gujarat -
Ola Cabs is expected to introduce a fleet of one million electric cars
in partnership with an electric vehicle maker and the Government of
India. As many companies are entering the electric vehicle market, the
die casting companies need to upgrade there technologies and processes
to cater to the increasing demand
The Indian automotive market is transforming, and the rising automobile
production and the emergence of electric vehicles are expected to aid
the aluminum die casting market’s growth over the forecast period.
Gravity Die Casting Expected to Witness the Fastest Growth
The India gravity die casting segment registered a value of USD 236.26
million in 2018 and is projected to witness the CAGR of 10.74%, during
the forecast period.
Gravity Die casting is one of the oldest way of die casting. This die
casting process is used for producing accurately dimensioned, sharply
defined, smooth or textured-surface metal parts. The main advantage of
gravity die casting is it’s high speed of production. The reusable die
tooling allows for many hundreds of castings to be produced in a day.
High definition parts reduce machining costs and superior surface finish
reduces finishing costs.
Indian auto industry is the fourth largest in the world owing to which
international and national auto manufacturers are expanding their
businesses in the country. For Instance:
-
In March 2018, Endurance Group received the letter of intent for
supply of aluminum high pressure and gravity die casting parts for
Hero MotoCorp’s requirement for their Halol plant. -
Spark Minda, Ashok Minda inaugurated its third Die Casting plant at
Pune, which will be producing Gravity Die Casting & Low-Pressure Die
Casting with machining for two and four-wheeler products. - Mahindra CIE has also entered in the gravity die casting processes
As the established players are entering into the market and existing
companies are expanding their business, these factors are likely to
drive the gravity die casting market in the country over the forecast
period.
Competitive Landscape
The Indian die casting industry is now matured and has started catering
to both domestic and international customers. The availability of
skilled labor and usage of advanced machinery and technology are key
factors for this growth.
Sandhar Group, Rockman Industries, Spark Minda Group, Endurance
Technologies Limited, Rico Auto Industries, Dynacast (Form
Technologies), Rheinmetall Automotive AG and Nemak are the major players
in the Indian automotive parts Aluminum die casting market.
The Indian Automotive Parts Aluminum Die Casting industry is fairly
fragmented with major players such as Rockman Industries, Sandhar Group,
Rico Auto Industries, Spark Minda, Rheinmetall and Nemak accounting to
over 56% of the market.
Key Topics Covered
1 INTRODUCTION
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 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness – Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 Production Process
5.1.1 Pressure Die Casting
5.1.2 Vacuum Die Casting
5.1.3 Squeeze Die Casting
5.1.4 Gravity Die Casting
5.2 Application Type
5.2.1 Body Parts
5.2.2 Engine Parts
5.2.3 Transmission Parts
5.2.4 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 Sandhar Group
6.3.2 Rockman Industries
6.3.3 Sipra Quality Die Casting
6.3.4 Spark Minda Group
6.3.5 Endurance Technologies Limited
6.3.6 Samvardhana Motherson Auto Component Pvt. Ltd.
6.3.7 Rico Auto Industries
6.3.8 Dynacast – Form Technologies
6.3.9 Rheinmetall Automotive AG
6.3.10 Nemak
6.3.11 Jaya Hind Industries Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/pyzv1o
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For
E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call
1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related
Topics: Aluminum,
Automotive
Parts, Automotive
Materials