Authored By: Sarah
17 Feb 2025

Latest News- Foundry Market in India: Automotive is expected to lead the End-user segment during 2025-2029

The Foundry Market in India is being driven by Focus on technology upgrades

The Foundry Market in India is expected to grow at a CAGR of 15.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 30320.8 million. In the foundry industry of India, the casting process remains complex due to its intricate procedures and the expertise required from engineers. However, advancements in technology, such as computer-generated programs and algorithms for parting line identification and sand mold surface analysis, are streamlining the process. The increasing demand for lightweight components and customized parts in the era of Industry 4.0 is fueling innovation in casting techniques. Companies like DataProphet Proprietary Ltd, a leading developer of AI technology for manufacturing, are introducing AI suites to enhance production quality and minimize defects. These factors are anticipated to boost the growth of the foundry market in India throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

  • End-user
    • Automotive
    • Electrical and construction
    • Industrial machinery
    • Agriculture
    • Others
  • Type
    • Gray iron casting
    • Non-ferrous casting
    • Ductile iron casting
    • Steel casting
    • Malleable casting
  • Material
    • Ferrous
    • Non-ferrous
  • Geography
    • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

  • Focus on technology upgrades
  • Make in India initiative
  • Expansion of renewable sector

However, the market also witnesses some limitations, which are as follows:

  • Environmental issues leading to increasing environmental cost
  • Lack of highly skilled manpower
  • Intense competition within end-user industries

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Market Scope in Foundry Market in India Research Report

Market Scope

Report Coverage

Details

Page number

179

Base year

2024

Historic period

2019-2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 15.5%

Market growth 2025-2029

USD 30320.8 million

Market structure

market_structure.ucfirst

YoY growth 2024-2025(%)

12.2

Key countries

India, APAC, and India

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Indian Foundry Market encompasses various segments including Ferrous and Non-Ferrous Foundries, focusing on Metal Castings through processes like Sand Casting and Die Casting. Key sectors include Aerospace, Electronics, Construction, and OEMs. Large Foundries cater to industries like Industrial Machinery, Electrical, and Aerospace, employing directly and indirectly through Gray Iron Casting, Non-Ferrous Casting, Ductile Iron Casting, Steel Casting, and Malleable Casting. The market is evolving with advancements in technology, such as 3D printing and Casting Designs, and embracing the Internet of Things.

Market Research Overview

The Foundry Market in India encompasses Ferrous and Non-Ferrous Foundries, Die casting, Sand casting, and the Construction sector. This market is a significant contributor to the larger Metals and Mining industry, generating substantial revenue through the production of steel and non-ferrous metals. According to Technavio, the global Metals and Mining market is driven by the increasing demand for steel, particularly in China, where stimulus measures have boosted construction activity. Large foundries in India are increasingly adopting automation to enhance productivity and meet the growing demand for castings in sectors such as automotive, infrastructure, and engineering. The steel market, a crucial component of the Foundry Market in India, is witnessing significant growth due to the global upsurge in infrastructure development and automotive manufacturing.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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