LOS ANGELES, BEIJING, LONDON and PUNE, India, December 13, 2018 /PRNewswire/ --
Rising Production of Automobile Parts is Anticipated to Spur Demand in Global Iron Casting Market - QY Research
A new report published by QY Research on the global iron casting market explains key trends prevalent in the industry and how players could benefit from them soon. Bearing the title "Global Iron Casting Market Research Report 2018," the report pinpoints segments that are expected to gain traction in the market, along with factors supporting them.
Estimated to register a 2.14% CAGR during the 2017-2025 timeline, the global iron casting market could touch a 9,222 K Tons by the end of 2025, expanding from a 7,788 K Tons reached in 2017.
Global Iron Casting Market: Key Trends
As observed by the market analysts, increasing production of automobile parts and rising number of manufacturing activities in emerging economies are envisaged to augment the demand in the global iron casting market. As per the findings presented in the report, the global iron casting market shows clear concentration as it stays in the maturity stage.
The iron casting industry is said to be led by innovation. There could be fluctuations observed in the gross margins of players as the competition intensifies. Furthermore, this is expected to lead to the narrowing of price gaps between different vendors. In addition, the slow downward price trend could be evident in in the coming years.
Companies taking the lead in the iron casting industry are prognosticated to dominate high-end markets due to their superior quality of after-sales service, better technical performance, and abundance of products.
Global Iron Casting Market: Forecast by Application, Molding, and Type
By application, the global iron casting market is divided into rail, valves, pumps, and compressors, pipe and fitting, automotive, machinery and equipment, and others. By type of molding, the global iron casting market is classified into horizontal and vertical moldings. On the basis of product type, the report has studied three segments, viz. ductile iron casting, gray iron casting, and others.
The researchers have analyzed all of these segments in great detail, keeping in view their growth rate, share, price, and other significant factors.
Global Iron Casting Market: Forecast by Region
Asia Pacific is a regional powerhouse pushing the growth of the global iron casting market. India and China have been at the forefront promising rewarding opportunities in the iron casting market. This is because of the stable rise in outsourced manufacturing activities.
The report splits the global iron casting market into different geographical segments, i.e. ROW, Asia, India, China, Japan, Europe, and North America. It studies each region and country in relation to revenue, production, and other vital factors.
Global Iron Casting Market: Barriers
There are five significant barriers that could make the entry of players in the global iron casting market a bit difficult: unfair methods of competition, regulatory requirement, intellectual property rights, capital requirement, and product development costs.
Nonetheless, the global iron casting market is foretold to witness new investments coming by despite the problems. Investors are showing an optimistic attitude due to the global recovery. Not to forget, the global iron casting market is still extremely competitive.
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Global Iron Casting Market: Competitive Analysis
With no downstream and upstream support and technical advantage, new entrants are advised to avoid entering the global iron casting market. This is recommended despite the availability of required funds at the disposal of new entrants.
With a view to improve their industry presence, players are focusing on strategic alliances and frequent acquisitions. They could maximize their margins by developing value-added capabilities and optimizing their product mix. They can use this situation to their advantage by strengthening their supply chains and production units. This could help them to dodge delays in supply lead times and production turnaround times (TAT).
The key players are Waupaca Foundry, Grede Foundry, Neenah Foundry, Metal Technologies, Inc., Cifunsa, Wescast Industries, INTAT Precision, Chassix, Aarrowcast, Inc., Cadillac Casting, Inc., Rochester Metal Products, Goldens'Foundry, Weichai, Xinxing Ductile Iron Pipes, , eorg Fischer, Faw Foundry, Huaxiang Group, Meide Casting and so on.
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