Data Bridge Market Research analyses that the foundry equipment market will witness a CAGR of 3.5% for the forecast period of 2021-2028 and is likely to reach at USD 9,876.06 million by 2028.
Foundry equipment refers to a combination of heavy machinery equipment and supplies that are used to work with hot and molten metal and casting them into desired shapes and sizes. Foundry equipment is further used in molding and core making the metals and other such substances with an aim to execute different functions and operations.
The foundry market is expected to expand due to the rising production of lightweight vehicles, intending to increase energy efficiency and tough emission regulations. Furthermore, the rising demand for electric vehicles, increasing per capita income particularly, in emerging economies coupled with rising population has created a demand for automobiles and the high construction industry owed to rapidly increasing construction and infrastructure development are also expected to play a major role in the foundry equipment market growth in the forecast period of 2021 to 2028.
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Scope of the Foundry Equipment Market Report:
The foundry equipment market is segmented on the basis of product, and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the foundry equipment market is segmented into die casting machine, centrifugal casting machine, induction furnace, moulding machine, coremaking machine, and shot blasting machine.
- On the basis of end user, the foundry equipment market is segmented into automotive, aerospace, machinery, shipbuilding, power generation and electricity, and others.
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The major players operating in the foundry equipment market report are Denso Corporation, Hanon Systems, TransAir Manufacturing, Mitsubishi Heavy Industries Ltd., Eberspacher Group, MAHLE GmbH, Valeo SA, Toyota Industries, Delphi PLC, Keihin Corporation, Calsonic Kansei Corporation, SamvardhanaMotherson Group, Subros Limited and SMAC Auto Air among others. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Foundry Equipment Market Regional Analysis/Insights
The Foundry Equipment market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Foundry Equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Foundry Equipment within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Foundry Equipment market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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