Foundry Equipment Market Size to grow by USD 5587 million between 2024-2028
According to a research report “ Foundry Equipment Market” by Application (Metal casting, Metal heat treatment) End-user (Automotive, Aerospace, Machinery, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5587 million, at a CAGR of over 3.51% during the forecast period. The global industrial landscape is witnessing a significant shift towards automation, driven by the imperative to minimize manual labor and enhance productivity. Industrial automation is proving to be a game-changer, delivering substantial cost savings, operational efficiencies, and productivity gains for manufacturers worldwide. Consequently, the demand for advanced foundry equipment, particularly cast metals, is surging as they cater to the intricate requirements of various industries. Despite economic uncertainties in key markets like the US, China, and Europe in 2020, the trend towards industrial automation is projected to persist and gather momentum. This will pave the way for the creation of sophisticated, high-functionality equipment to meet the evolving demands of modern manufacturing.
Browse market data tables, figures, and in-depth TOC on “Foundry Equipment Market” by Application (Metal casting, Metal heat treatment) End-user (Automotive, Aerospace, Machinery, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the Metal casting segment is projected to dominate the market size in 2024
The Foundry Equipment Market represents a significant business landscape, characterized by the production and sale of machinery utilized in the casting process. Key players in this sector offer solutions for various applications, including metal melting, mold making, and casting processes. Market growth is driven by increasing industrialization and infrastructure development in emerging economies, leading to heightened demand for high-performance foundry equipment.
By End-user, Automotive segment is expected to hold the largest market size for the year 2024
The Foundry Equipment Market represents a significant business sector, characterized by continuous growth and innovation. Key players in this industry invest heavily in research and development to produce advanced equipment, enhancing productivity and efficiency. Market trends include automation, energy efficiency, and customization to cater to diverse customer needs. Competitive dynamics and regulatory frameworks shape the market landscape, with mergers and acquisitions driving consolidation.
APAC is forecasted to hold the largest market size by region in 2024
The Foundry Equipment Market represents a significant business landscape, characterized by the production and distribution of machinery utilized in the casting process. Key players in this sector invest in research and development to innovate and improve their product offerings, catering to the evolving needs of foundries worldwide. Market growth is driven by increasing industrialization and infrastructure development in emerging economies, as well as advancements in technology and automation.
The Foundry Equipment Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Foundry Equipment Market is a dynamic and innovative industry that caters to various sectors, including automobiles, aerospace, and power generation. This market is driven by advancements in technology, emission regulations, and the demand for sustainable and energy-efficient vehicles. Heat treatment is a crucial process in foundry manufacturing, ensuring the quality and durability of metal castings. Technologically advanced vehicles require precise and consistent heat treatment, making it an essential aspect of the foundry industry. Quality-assured vehicles and sustainable manufacturing are the future of the commercial market. Robotics research and automation are transforming foundry processes, from metal casting to molding and coremaking. Lightweight vehicles, such as light trucks, are in high demand, leading to increased production of aluminum and steel castings. Protective gears and safety equipment are essential for foundry workers, ensuring their well-being while handling molten metals. Power generation foundries produce castings for turbines and generators, contributing to the energy sector. The market for machinery in the foundry industry includes coremaking machines, molding machines, and robotic systems. The aerospace sector relies heavily on casting products, from engine components to structural parts. Emission regulations and energy efficiency are key considerations in the design and production of foundry equipment.
Market Research Overview
The Foundry Equipment Market is witnessing significant growth due to the increasing demand for emission standards in various industries. With the focus on reducing harmful gases and emissions, there is a surge in the use of sustainable living culture in residential properties. Foundry equipment plays a crucial role in this regard as it is used in the production of metal castings, including alloys and metal castings for automobiles and other industries. Heat conductors, core making machines, moulding machines, heat treatment, and induction furnaces are some of the key equipment used in the foundry industry. The construction sector and automotive industry are major consumers of foundry equipment, with a focus on producing quality-assured vehicles and sustainable vehicles. Robotics research and advanced technologies are driving automation in manufacturing units, leading to consolidation in the foundry equipment market. The commercial market for foundry equipment includes shot blasting machines, centrifugal casting machines, die casting machines, and vacuum casting. The shipbuilding industry is another significant consumer of foundry equipment, including core making machines, moulding machines, and induction furnaces. The energy sector also relies on foundry equipment for power generation and the production of energy-efficient materials and lightweight materials for infrastructure development activities. Emission regulations are driving the demand for energy efficiency and lightweight vehicles, leading to product development cycles in the automotive industry focused on casting technologies such as 3D printing and vacuum casting. Steel castings and aluminum castings are popular choices for the aerospace industry and machinery manufacturing units. Protective gears, electricity, and protective equipment are also essential components of the foundry equipment market.
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