GIA announces the release of a comprehensive Indian report on Automotive Castings market. The Indian market for automotive ferrous castings is projected to reach 880.6 thousand metric tons by the year 2015. This is primarily driven by a rapid rise in the domestic automotive market. Additionally, the growing trend of subcontract manufacturing from developed countries to low-cost nations, such as India, also play a major role in the production growth for metal castings industry across the nation.
The automotive castings industry is a competitive industry and recognized as the benchmark for innovation and technology. Metal casters are recognized as preferred suppliers of net-shape, engineered metal components. Automobile segment represents the largest market for use of metal castings, as a large percentage of vehicle components are manufactured by metal casting. Metal castings are mainly utilized for producing wheels, bodywork and suspension parts, bearings, pumps, transmission housings, engine blocks, crankcases and cylinder heads of an automobile. The automotive market exhibits significant opportunities for metal casters.
Gray iron castings dominate the Indian automotive ferrous castings market as stated by the new market research report on automotive castings market. The end-use market of gray iron is mainly captured by medium and heavy commercial vehicles. Utility vehicles represent the fastest growing segment for end-use application of spheroidal graphite iron castings. Spheroidal graphite (SG) cast iron is characterized by high ductility and high tensile strength, making it suitable for numerous applications, including brake cylinders and axle housing in the automotive industry.
India is likely to emerge as a major center for castings, worldwide. The Indian casting industry is well supported by the cluster development programs instigated by various institutions including the Institute of Foundrymen, to assist medium and small enterprises with quality concerns and technological advancements.
The market has the potential to maintain impressive growth rate. Exports are likely to grow due to the increasing demand from global producers of cast metals for low-cost Indian products. Globalization policies of the Indian government have added a new dimension to the Indian industries in this regard. In addition to the relatively economical labor, India is in a comfortable position due to availability of skilled technical personnel and the ready-to-adopt cultural environment.
Key Indian players profiled in the report include Amtek Auto Limitedm Endurance Group, Nelcast Ltd., Rico Auto Industries Ltd., and Sakthi Auto Component Limited. Other regional players covered in the report include Accuride Corporation, AmeriCast Technologies Inc., Aisin Seiki Co. Ltd., Citation Corporation, Dana Holding Corporation, Dynacast Inc., Intercast and Forge Pty Ltd, Kubota Corp, Meridian Technologies Inc., Park-Ohio Industries Inc., Precision Metalsmiths Inc., Ryobi Ltd, Superior Industries International Inc., and ThyssenKrupp Waupaca Inc, among others.
The report titled “Automotive Castings: A Indian Market Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product innovations/introductions, and recent industry activity. The study analyzes market data and analytics in terms of volume consumption by the following product segments - Spheroidal Graphite Iron Castings and Gray Iron Castings. The market is also analyzed by end-use applications, which include Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Passenger Cars, Tractors, and Utility Vehicles. Additionally, Spheroidal Graphite Iron Castings market is analyzed by the following components - Brake Spider, Differential Carrier, Differential Case, Gear Box, Wheel Hub, and Others.