The European market for automotive parts die casting is expected to touch USD 11893.44 million by 2020, growing at a CAGR of over 7% during 2017-2022. The recovery of the European market from the economic recession of 2010 is forecasted to add stability to the growth of the automotive industry. The increase in the number of lightweight automotive components acts as a standpoint in the growth of the automotive die casting market in the country. Concerns with regard to fuel economy and emission norms enforced by the European Commission (EC) have made the OEMs focus on manufacturing lightweight automobiles. In addition, the demand for sturdy, corrosion-resistant and stable automotive components has driven the demand for aluminum, magnesium and zinc die-cast components.
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The changes in the regulatory standards have been crucial in changing the automotive market dynamics in the region. EC has targeted to reduce the vehicle emissions to an average fleet emission of 175g CO2/km by 2017 and 147g CO2/km by 2020 for the light vehicle segment. Manufacturers were mandated to meet the emission targets of 175g CO2/km in 70% of the commercial vehicle fleet in 2014 and are expected to do so in 75% of their LCVs in 2015, 80% in 2016, and 100% of their fleet by 2017. Severe penalties and fines are also levied on violation of the emission norms. Thereby, the need to reduce emission has brought about the need to focus on die casting lightweight materials to manufacture the automotive components. The major die-casters in Europe have started focusing on obtaining better technologies for the production process like BUHLER, to improve and enhance the quality of the castings along with reducing the cost of casting. However, instability in raw material supply, volatility in raw material prices and other cost issues are expected to act as a major hindrance to the growth of the automotive part die casting market in the region.
The market is segmented based on the production process type, material type, geography and by application type. Among the production process types, pressure die casting is expected to dominate the market by the end of 2020. High efficiency and low operating costs are expected to drive the growth of the pressure die casting market. However, vacuum-assisted die casting would grow at a higher rate than any other production process type in the automotive parts die casting market in the region. Among application types, the demand for die-cast products in the engine parts would attract major growth, with major international OEMs like Volkswagen, Audi, BMW, Ford, GM, and Mercedes-Benz opting for light weighted die-cast powertrain components.
Some of the key players in the market are:
Castwel Autoparts Pvt. Ltd.
Die Casting Solutions GmbH
Gibbs Die Casting Group
Rockman Industries Ltd.
Sandhar Technologies Ltd.
Key Point From TOC
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
5. MARKET DYNAMICS
6. EUROPE AUTOMOTIVE PARTS DIE CASTING MARKET SEGMENTATION, BY PRODUCTION PROCESS TYPE
7. EUROPE AUTOMOTIVE PARTS DIE CASTING MARKET SEGMENTATION, BY APPLICATION TYPE
8. EUROPE AUTOMOTIVE PARTS DIE CASTING MARKET SEGMENTATION, BY RAW MATERIAL TYPE
9. EUROPE AUTOMOTIVE PARTS DIE CASTING MARKET SEGMENTATION, BY GEOGRAPHY
10. COMPETITIVE LANDSCAPE
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