LONDON--Technavio has announced the top five leading vendors in their recent global industrial castings market report. This research report also lists 32 other prominent vendors that are expected to impact the market during the forecast period.
With steel supply overtaking the demand, the capacity utilization ratio of steel castings declined to 65% in 2015 from 71% in 2014. During 2005-2015, the steel industry invested in capacity expansion at a rapid pace. This was due to low production costs, availability of relatively attractive interest rates for new investments, and an open international market. The decreasing capacity utilization has led to declining casting prices due to the availability of excess steel.
Competitive vendor landscape
The global industrial castings market is fragmented with a clear dominance of large international players. The market is capital-intensive, and hence, it poses a stiff challenge to the local players. These small players find it quite difficult to compete with international vendors in terms of services, features, quality, and functionalities. With the introduction of products with new features and technologies, the competition will become more aggressive. The market is seeing a gradual shift toward the growing demand for non-ferrous castings, especially aluminum castings that are now widely used in the automotive manufacturing assembly process.
“Vendors operating in the market experience maximum demand from the automotive sector. This sector is expected to drive the demand during the forecast period. Further, the industry has been increasingly focusing on the enhancement of casting efficiency, and that has led to the demand for automated technology and equipment,” says Gaurav Mohindru, a lead engineering tools analyst from Technavio.
Request a sample report: http://www.technavio.com/request-a-sample?report=54413
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Top five industrial castings market vendors
Alcast Technologies was formed as a subsidiary of the Saltfleet Aluminum Foundry. The company is engaged in the manufacturing and sales of aluminum castings for military, aerospace, and general industrial applications. It specializes in the production of castings in sizes varying from a few ounces to about 440.92 lbs.
Alcoa Howmet is a division of Alcoa Power and Propulsion, a business unit of Alcoa. It is involved in the casting of aluminum, titanium, and super alloys. The service capabilities of the company include providing protective coating services, isostatic pressing, and precision machining. Its products are used for making jet aircraft engines, airframes, industrial gas turbine engine components, armaments, and other industrial components.
Kobe Steel undertakes the manufacturing of steel casting and forging products for marine and other industrial use such as propeller shafts, crankshafts, and ferrous and non-ferrous mill rolls. It is active in the casting sector through its iron and steel segment. Some of the key offerings of the segment include steel wire rods and bars, steel sheets, steel plates, steel castings and forgings, and steel powder.
Brakes India is a motor vehicle parts and accessories manufacturer. It has seven manufacturing units in India with an installed capacity of 80,000 million tons per annum of high-pressure molded ductile and gray iron sand castings and permanent mold gray iron.
The company exports a broad range of products to more than 35 countries. It offers drum brakes for commercial vehicles, tractor brakes, trailer brakes for the trailer and trucks industry in Australia, master cylinder and booster assemblies, and wheel cylinder parts.
Dandong Foundry is a cast iron foundry that offers iron castings, steel castings, and machining works. It has an annual output of 8,000 tons of metal castings. It exports its products to Germany, Italy, the UK, Australia, and the US.
Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact email@example.com with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.