LONDON–(BUSINESS WIRE)–Sep 30, 2020–
Technavio has been monitoring the iron castings market and it is poised to grow by 40.28 mn MT during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Iron Castings Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
- What are the major trends in the market?
Modernization of foundry industry is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 5.60% and the incremental growth of the market is anticipated to be 40.28 mn MT.
- Who are the top players in the market?
American Axle & Manufacturing Inc., Arconic Inc., Brakes India Pvt. Ltd., chamberlin Plc, Dandong Fuding Engineering Machinery Co. Ltd., Grupo Industrial Saltillo SAB de CV, Hitachi Metals Ltd., OSCO Industries Inc., Qingdao Tian Hua Yi He Foundry Factory, and Sumitomo Electric Industries Ltd., are some of the major market participants.
- What is the key market driver?
The growth in the automobile segment is one of the major factors driving the market.
- How big is the APAC market?
The APAC region will contribute 67% of the market share.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. American Axle & Manufacturing Inc., Arconic Inc., Brakes India Pvt. Ltd., chamberlin Plc, Dandong Fuding Engineering Machinery Co. Ltd., Grupo Industrial Saltillo SAB de CV, Hitachi Metals Ltd., OSCO Industries Inc., Qingdao Tian Hua Yi He Foundry Factory, and Sumitomo Electric Industries Ltd. are some of the major market participants. The growth in automobile segment will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Iron Castings Market 2020-2024: Segmentation
Iron Castings Market is segmented as below:
- Gray Iron
- Ductile Iron
- Malleable Iron
- Industrial Machinery
- Infrastructure And Construction Machines
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Iron Castings Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The iron castings market report covers the following areas:
- Iron Castings Market Size
- Iron Castings Market Trends
- Iron Castings Market Industry Analysis
This study identifies the modernization of the foundry industry as one of the prime reasons driving the iron castings market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Iron Castings Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist iron castings market growth during the next five years
- Estimation of the iron castings market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the iron castings market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of iron castings market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Gray iron – Market size and forecast 2019-2024
- Ductile iron – Market size and forecast 2019-2024
- Malleable iron – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Automobile – Market size and forecast 2019-2024
- Industrial machinery – Market size and forecast 2019-2024
- Infrastructure and construction machines – Market size and forecast 2019-2024
- Power – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- American Axle & Manufacturing Inc.
- Arconic Inc.
- Brakes India Pvt. Ltd.
- chamberlin Plc
- Dandong Fuding Engineering Machinery Co. Ltd.
- Grupo Industrial Saltillo SAB de CV
- Hitachi Metals Ltd.
- OSCO Industries Inc.
- Qingdao Tian Hua Yi He Foundry Factory
- Sumitomo Electric Industries Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
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PUB: 09/30/2020 08:45 AM/DISC: 09/30/2020 08:45 AM