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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Steel Casting Market Outlook
The global steel casting market is projected to grow at a CAGR of 5% during 2024-2032.
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The high design flexibility that steel casting offers provide end-users the freedom to choose the application-based casting shape and size. Steel casting also provides metallurgical versatility and enhanced weldability and high-temperature workability. The products of steel casting are more reliable than other castings of metal. The decreased shipping time and increased steel casting productivity is expected to propel the steel casting market forward. These superior steel casting characteristics will increase their demand for multiple applications in the end-user sectors and thus increase the development of the market.
Market Segmentation
Steel casting is a specialized type of casting integrating different steel forms. Steel casting is used when cast iron is unable to provide sufficient power or resistance to shock.
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The steel casting market can be divided on the basis of application into:
- Mining
- Power
- Oil and Gas
- Others
The EMR report looks into the regional markets of steel casting like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The combination of automated robots and computer numerical tools in casting machines enable the production of high-quality, reliable, and accurate casting products. The implementation of automated casting equipment will also increase with the rising demand for improved productivity in the manufacturing sectors, including the automotive industries. Thus, aiding the growth of the steel casting market. One of the critical market trends for steel casting will be the introduction of automation in the die-casting method, which will have a beneficial effect on the market growth.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global steel casting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Precision Castparts Corp. (Berkshire Hathaway Inc.) (NYSE: BRK.A)
- Hitachi Metals Ltd.
- Japan Casting & Forging Corp.
- Kobe Steel Ltd.
- Peekay Steel Castings Pvt. Ltd.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5% between 2024 and 2032.
The major drivers of the market include combination of automated robots and computer numerical tools in casting machines, improved productivity in the manufacturing sectors and automation in the die-casting method.
The introduction of automation in the die-casting method is expected to be a key trend guiding the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Steel casting finds applications in mining, power, and oil and gas, among others.
The major players in the market are Precision Castparts Corp. (Berkshire Hathaway Inc.), Hitachi Metals Ltd., Japan Casting & Forging Corp., Kobe Steel Ltd., and Peekay Steel Castings Pvt. Ltd., amongst others.
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