Market Research Report
Global Steel Casting Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||368222|
|Published||Content info||136 Pages
Delivery time: 1-2 business days
|Global Steel Casting Market 2019-2023|
|Published: June 26, 2019||Content info: 136 Pages||
Steel casting is a process that involves the pouring of molten steel into molds made of sand or ceramic platter to create the desired shape. Technavio's steel casting market analysis considers sales from applications including automotive and transportation, construction and infrastructure, mining, power, oil and gas, and other applications. Our analysis also considers the sales of steel casting in APAC, Europe, North America, South America, and MEA. In 2018, the automotive and transportation segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing demand for freight aircraft will play a significant role in the automotive and transportation segment to maintain its market position. Also, our global steel casting market report looks at factors such as growing construction activities, increasing demand for steel casting in the automotive industry, and superior properties of steel casting. However, environmental concerns related to the casting industry, increasing demand for alternative metal alloys, and fluctuations in steel prices may hamper the growth of the steel casting industry over the forecast period.
Steel casting is preferred as it is more reliable than other metal castings. It offers improved weldability and workability at high temperatures and metallurgical versatility. End-users extensively use steel casting as it enhances productivity and minimizes the delivery time. Such superior properties of steel casting will lead to the expansion of the global steel casting market at a CAGR of over 4% during the forecast period.
Automated robots are being increasingly used in casting machines of foundries owing to advantages such as reduced cycle time, enhanced flexibility, enhanced precision, and high efficiency. It enables end-users to produce high-quality, reliable, and precise casting products. The introduction of automation in the die-casting process is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global steel casting market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global steel casting market is fragmented. Technavio's robust vendor canalysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading steel casting manufacturers, that include Berkshire Hathaway Inc., Hitachi Metals Ltd., Japan Casting & Forging Corp., Kobe Steel Ltd., and Peekay Steel Castings Pvt. Ltd.
Also, the steel casting market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.