Top Companies in Iron Casting Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Iron Casting Market is projected to reach a value of USD 15.1 Billion by 2030 at a CAGR of 5.8% over the forecast period.
The Global Iron Casting Market is valued at USD 10.2 Billion in 2022 and is projected to reach a value of USD 15.1 Billion by 2030 at a CAGR of 5.8% over the forecast period. Because of its affordability & ease of mass production, iron casting in the automotive sector has been growing over time. Iron casting makes up the structural components of engine blocks and cylinder heads. Other crucial components like carburetor bodies and transmission housings also include it. Cast-iron components cost 15% less per car as compared to those made from steel or aluminium alloys. In addition, cast iron products are less expensive because they may be scraped down if there is too much metal left on them; this decreases production waste, which lowers costs. The rise in demand for energy-efficient products across various applications, including railways, mining, and power generation, as well as growing demand for automobiles, industrial machinery, and infrastructure and construction equipment, among other things, are contributing to this market’s growth.
The Industrial Machinery section uses iron casting as an essential product as well. For instance, cast iron parts are fitted to various machines like drills and lathes that assist producers in producing holes or things with precise dimensions. It is possible to create iron casting using gray, ductile, or malleable techniques.
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The Global Iron Casting market is dominated by well-known players Brakes India Pvt. Ltd. (India), Chamberlin Plc (UK), Grupo Industrial Saltillo (Mexico), OSCO Industries Inc. (U.S.), Qingdao Tian Hua Yi He Foundry Factory (China), Sumitomo Electric Industries Ltd. (Japan), Waupaca Foundry Inc. (U.S.), Georg Fischer Ltd. (Switzerland), Neenah Foundry Co. (U.S.), Metal Technologies Inc. (U.S). There are many players present in the market, which is very competitive. Moreover, companies are engaging in mergers and acquisitions to broaden their product offerings due to the rising demand for iron castings.
Let’s Take a Look at the Top Market Players that are Captivating the Iron Casting Market
- Brakes India Pvt. Ltd. (India)
Iron casting is another area of expertise for Brakes India Pvt. Ltd. The iron casting department at Brakes India creates grey iron castings, ductile iron castings, and compacted graphite iron castings in a range of dimensions. The company's castings are used in numerous applications, including engine blocks, transmission housings, brake parts, steering systems, and other crucial parts.
- Chamberlin PLC (U.K.)
The business creates and produces iron castings. In addition, the company offers door furniture and emergency exit hardware, and crucial castings for hydraulics, power generation, construction equipment, and automobile turbochargers. Precision Engineering and Chamberlin & Hill Castings are the two divisions that comprise the business.
- Grupo Industrial Saltillo (Mexico)
The company is organised into three business divisions:
- The Iron Foundry division, which produces blocks and iron heads for diesel and gasoline engines.
- The Construction division, which uses gas and solar energy to produce residential and commercial water heaters.
- The Houseware division, which develops, produces, and sells a range of tableware and kitchenware products as well as a line of electronic appliances.
The business is run by several companies, including, among others, Servicios de Produccion Saltillo SA de CV, Manufactura Vitromex SA de CV, Industria Automotriz Cifunsa SA de CV, Gis Holding Inc, Calentadores de America SA de CV, and Automotive Components Europe SA.
- OSCO Industries Inc. (U.S)
OSCO Industries Inc., situated in the US, produces premium steel and aluminium forgings for several industries. Forgings for sectors like automotive, aerospace, defence, and industrial machinery are part of the product line.
- Qingdao Tian Hua Yi He Foundry Factory (China)
The company's product line includes castings made of steel, aluminium, ductile iron, and grey iron. Products from the company are used in various industries, including construction, agriculture, machinery, and the automotive sector.
- Sumitomo Electric Industries Ltd. (Japan)
The business manufactures a variety of goods, such as wire and cable, optical fibre, electronics, and automobile parts. The product line comprises electronic components, optical fibre, communication cables, power cables, and automobile components. The business is a top provider of connectors, electric power steering systems, and automobile wire harnesses. Automotive, telecommunications, energy, and electronics are just a few industries that use its products. The company makes various iron-based products, including iron powders, magnetic materials, and iron-nickel alloys; iron casting is not the company's primary product. Multiple uses for iron powder exist, including surface coatings, magnetic materials, and powder metallurgy.
- Waupaca Foundry Inc. (U.S.)
The company's primary product offerings are castings made of ductile iron, grey iron, and austempered ductile iron. In addition, the business is renowned for its engineering, automation, and metallurgy skills. The business serves worldwide clients.
- Georg Fischer Ltd. (Switzerland)
Georg Fischer Ltd. has a section dedicated to iron casting, called GF Casting Solutions. The section makes castings out of a variety of materials, such as ductile iron, grey iron, and CGI (Compacted Graphite Iron). Products from the business are used in a number of sectors, including the automotive, aerospace, energy, and industrial ones.
- Neenah Foundry Co. (U.S.)
The company manufactures various cast iron products, such as drainage grates, manhole covers, trench covers, and tree grates. Infrastructure, transportation, and construction are just a few sectors that use the company's products.
- Metal Technologies Inc. (U.S.)
The company manufactures various cast iron goods, such as engine blocks, cylinder heads, transmission cases, and brake parts. Automotive, heavy truck, agricultural, and construction sectors are just a few that use the company's products.
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