United States Casted Automotive Market, Outlook and Forecast 2024-2030

The United States Casted Automotive market refers to the industry segment involved in producing automotive components using various casting processes such as squeeze casting, investment casting, and others. These processes allow manufacturers to create complex parts with high strength, including engine blocks, transmission cases, and wheel hubs. Casting is a vital process in the automotive supply chain, enabling the production of ferrous and non-ferrous cast components. These components are crucial for various vehicle types, such as compact cars, SUVs, luxury cars, and light- and heavy-duty commercial vehicles.

Market Size

The United States Casted Automotive market was valued at US$ 18.9 billion in 2024 and is projected to reach US$ 24.4 billion by 2030, representing a CAGR of 4.4% during the forecast period (2024-2030).

This market growth is driven by technological advancements in casting processes, the increasing demand for lightweight and fuel-efficient vehicles, and the need for high-strength components. Historically, from 2019 to 2023, the market has demonstrated steady growth, as the automotive sector continues to embrace innovations to enhance vehicle performance, safety, and efficiency.

Market Dynamics (Drivers, Restraints, Opportunities, and Challenges)

Drivers:

• Technological Advancements in Casting Techniques: The shift towards precision casting, such as squeeze casting and investment casting, allows for the production of lightweight and complex components, thereby driving growth in the industry.
• Automotive Demand: The rising demand for vehicles, especially electric and hybrid vehicles, which require specialized automotive parts, is boosting the casted automotive components market.
• Lightweighting Trend: With the automotive industry pushing for better fuel efficiency, cast components made from aluminum and other lightweight metals are gaining traction.
• Growth of EVs and Hybrid Cars: The electric vehicle (EV) market has led to an increased demand for advanced cast components, including electric motor casings, battery housings, and transmission parts.

Restraints:

• High Production Costs: The investment required in casting equipment and molds can be substantial, which may limit the market growth, especially among smaller manufacturers.
• Supply Chain Disruptions: Economic disruptions, material shortages, and supply chain issues can pose challenges to the market's growth, affecting the timely production of casted automotive components.

Opportunities:

• Emerging Markets for EVs: As electric vehicles continue to gain popularity, there is a significant opportunity for cast components used in EV powertrains, battery systems, and chassis.
• Advancements in Automation: The introduction of advanced robotics and automation in casting processes presents an opportunity for improved efficiency, reduced costs, and enhanced precision in manufacturing.
• Sustainability Initiatives: The automotive industry’s push toward sustainability, such as using recyclable metals and reducing carbon footprints, creates opportunities for casting companies to develop greener, more eco-friendly products.

Challenges:

• Fluctuating Raw Material Prices: Prices of raw materials, especially metals like aluminum and steel, can vary, influencing the production cost of cast components.
• Regulatory Pressures: Stricter environmental and safety regulations around the production of casted parts may increase operational complexities and compliance costs.

Regional Analysis

The United States is a significant player in the global automotive market, with the Casted Automotive market benefiting from a large-scale production base and technological advancements. The U.S. automotive industry is shifting toward lightweighting and electrification, both of which drive the demand for high-performance casted components.

• Midwest and Southern United States: These regions are home to a large number of automotive manufacturing plants, including several high-volume vehicle production sites. This strengthens the demand for casted components in the region.
• West Coast: Known for its technological innovation, the West Coast is witnessing a growing demand for advanced automotive parts, particularly due to the rise of electric vehicles.

The U.S. market's growth is also supported by investments in research and development for advanced casting technologies, positioning it well in the global automotive supply chain.

Competitor Analysis

Several leading companies dominate the United States Casted Automotive market, including:

• General Motors Company: A leading global automaker involved in producing a wide range of casted automotive parts for their vehicle lineup.
• Ford Motor Company: Known for its large-scale production of cast components for both conventional and electric vehicles.
• American Axle & Manufacturing Holdings, Inc. (AAM): A prominent supplier of casted components for the automotive industry, specializing in axles and driveline systems.
• BorgWarner Inc.: Known for its focus on electric vehicle components, including castings for electric drivetrains.
• Dana Incorporated: A leader in casted components used in powertrains and drivetrain systems for passenger vehicles and commercial trucks.

These companies leverage strategic partnerships, technological innovations, and their extensive supply chains to maintain a competitive edge in the market.

Global Casted Automotive Market Segmentation Analysis

This report provides a deep insight into the global Casted Automotive, covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and assessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Casted Automotive. This report introduces in detail the market share, market performance, product situation, operation situation, etc., of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Casted Automotive in any manner.

Market Segmentation (by Application)

Squeeze Casting: Squeeze casting is a pressure die-casting process that is particularly useful for producing automotive parts with a combination of high strength and reduced weight.

Investment Casting: This method involves creating a mold from a wax pattern, which is then melted away. It is commonly used for intricate, high-precision automotive parts.

Market Segmentation (by Type)

• Compact Cars
• Mid-Size Cars
• SUVs
• Luxury Cars
• LCVs (Light Commercial Vehicles)
• HCVs (Heavy Commercial Vehicles)

Key Companies

• General Motors Company
• Ford Motor Company
• American Axle & Manufacturing Holdings, Inc. (AAM)
• BorgWarner Inc.
• Dana Incorporated
• Tenneco Inc.
• Linamar Corporation
• Harman International
• Lear Corporation
• Cummins Inc.

Geographic Segmentation

This market analysis focuses on North America, particularly the United States, but also examines trends and growth projections in other key automotive markets such as Europe and Asia. The rapid development of electric vehicles (EVs) and the push for sustainability are key drivers of demand for casted automotive components across the globe.

FAQ Section

1. What is the current market size of the Casted Automotive market?

• The Casted Automotive market in the United States was valued at US$ 18.9 billion in 2024 and is expected to grow to US$ 24.5 billion by 2030.

2. Which are the key companies operating in the Casted Automotive market?

• The key players in the Casted Automotive market include General Motors Company, Ford Motor Company, American Axle & Manufacturing Holdings, Inc., BorgWarner Inc., and Dana Incorporated.

3. What are the key growth drivers in the Casted Automotive market?

• The key growth drivers include advancements in casting technologies, the shift toward electric vehicles, the demand for lightweight components, and the need for high-strength automotive parts.

4. Which regions dominate the Casted Automotive market?

• The United States is a major player, particularly in the Midwest and Southern regions, while other dominant regions include Europe and Asia, driven by technological advancements in casting processes.

5. What are the emerging trends in the Casted Automotive market?

• Emerging trends include the rise of electric vehicles, automation in casting processes, and the push toward sustainability in casting materials and production techniques.

Key Indicators Analysed

• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2019-2030 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• United Statesn Market Analysis: The report includes United Statesn market status and outlook 2019-2030. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

Key Benefits of This Market Research:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Casted Automotive Market
• Overview of the regional outlook of the Casted Automotive Market

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• Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
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• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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