Die Casting Machines Market to Garner $4.98 Bn, Globally, by 2026 at 3.9% CAGR, Says Allied Market Research

Rise in demand for fuel-efficient, high performance, and low-emission vehicles coupled with surge in defense expenditure and increase in manufacturing of defense equipment in the private sector have boosted the growth of the global die casting machines market.

PORTLAND, Oregon, Jan. 23, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Die Casting Machines Market by Type (Cold Chamber Die Casting Machine, Hot Chamber Die Casting Machine, and Gravity Die Casting Machine), Material (Aluminum, Zinc, Magnesium, and Others), and End-User (Transportation, Mechanical & Manufacturing Equipment, Building & Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global die casting machine industry was pegged at $3.63 billion in 2018 and is projected to reach $4.98 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.

Chief reasons for market fluctuations

Rise in demand for fuel-efficient, high performance, and low-emission vehicles coupled with surge in defense expenditure and increase in manufacturing of defense equipment in the private sector have boosted the growth of the global die casting machines market. Moreover, increase in manufacturing machinery industries and environmental regulations on emission for the forging industries hamper the market growth. On the contrary, technologies advancements in the die casting process are expected to create lucrative opportunities in the near future.

The hot chamber die-casting machine segment held the largest share

The hot chamber die-casting machine segment dominated the global die casting machines market in 2018, contributing to more than three-fifths of the market, owing to the advantageous feature of hot chamber die casting machines namely fast cycle times. However, the gravity die-casting machine segment is projected to register the fastest CAGR of 4.7% during the forecast period, owing to surge in demand from the construction and automotive industry.

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Mechanical & manufacturing equipment segment to manifest the fastest growth by 2026

The mechanical & manufacturing equipment segment is projected to portray the fastest CAGR of 4.6% during the study period. The machinery manufacturers around the globe are re-allocating their manufacturing facilities and production plants closer to end-user markets, which boosts the growth of the segment. However, the transportation segment held the largest share in 2018, accounting for nearly half of the global die casting machines market, owing to the rapid growth of the transportation sector in India, China, and Germany.