The latest report by IMARC Group, titled, “India Metal Casting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ”offers a comprehensive analysis of the industry, which comprises insights on the India Metal Casting Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India metal casting market is expected to exhibit a CAGR of 6.8% during 2022-2027. Metal casting refers to an industrial process that is generally used for creating desired metal shapes. It involves pouring liquid metal into a mold that contains a cavity in order to create a desired geometrical shape. This process is commonly adopted to manufacture various components, including train wheels, lamp posts and automotive parts. Along with this, it is utilized for creating jewelry, sculptures, religious objects, tools and weapons. It is widely used across India as a preferred alternative to machine manufacturing since it is an inexpensive way to easily fabricate complex designs and shapes.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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India Metal Casting Market Trends:
The market in India is primarily driven by continuous developments in the foundry industry. Coupled with the rising investments by private and public agencies to improve the overall foundry sector, this is creating a positive market outlook. Moreover, the growing manufacturing and sales of automobiles, along with the increasing adoption of vehicles due to the inflating disposable income levels of the masses, are providing a boost to the market growth. In line with this, the growing preference for electric vehicles (EVs) among individuals on account of the rising environmental concerns is propelling the market growth. With rapid industrialization and urbanization, there has been a considerable increase in the utilization of the metal casting process across the country. Additionally, the increasing infrastructural development projects across India have led to the rising demand for cast products, such as door handles, curtain wailing and construction equipment, thereby impacting the market growth favorably. Other factors, including continual technological advancements in the metal casting processes and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across India.
India Metal Casting Market 2022-2027 Analysis and Segmentation:
Automotive and Transportation Market: Breakup by Component:
Automotive and Transportation Market: Breakup by Vehicle Type:
Automotive and Transportation Market: Breakup by Electric and Hybrid Type:
Automotive and Transportation Market: Breakup by Application:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of the Report:
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