According to the recent research report titled ‘Global Aluminum Parts Gravity Die Casting Market by Application Type (Automotive Electrical and Electronics, Industrial Applications, and Other Applications), Regional Forecasts 2021-2027’, available with MarketStudyReport, global aluminum parts gravity die casting market was worth USD 5.35 billion in 2020 and is projected to record 4.82% CAGR over 2021-2027, subsequently reaching USD 7.4 billion valuation by the end of the forecast period.
 

Flourishing construction sector and growing penetration of die casting parts in industrial machinery are the key factors driving global aluminum parts gravity die casting market growth, cites the study.
 

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Aluminum die casting is the most popular method for casting aluminum owing to the high accuracy of this process. Aluminum is 2.5-times lighter metal than steel. In addition to this, its exhibits favorable properties, such as machinability and corrosion resistance, that boost the viability of its die casing products for various end-use applications.
 

Speaking of challenges faced by the industry, shifting preferences towards zinc die casting is likely to restrain the market development over the study period.
 

Coming to the regional terrain, Europe, North America, Asia Pacific, and Latin America are the key areas considered for the regional assessment of global aluminum parts gravity die casting market. Experts cited that Asia Pacific accounts for s considerable market share, with China being the top exporter of aluminum and its products.
 

Credible sources cited that in January 2019, India's construction sector contributed more than USD 36 billion to the country's GDP. The country's railway industry received the largest budgetary allocation in its history in the same year. These developments are significantly adding to the demand for aluminum die casting in the country.
 

Besides, the availability of skilled labor at a low cost distinguishes APAC, making it the most accessible site for companies to establish industrial plants. Furthermore, a change in the global industrial environment toward South Asian nations is expected to promote regional market growth.
 

Leading organizations impacting global aluminum parts gravity die casting industry trends are Rockman Industries, CIE Automotive, Sundaram Clayton Ltd. (SCL), Vostermans Companies, MRT Castings Ltd., Hitachi Metals Ltd., Harrison Castings Ltd., Endurance Technologies Ltd., Minda Corporation Ltd., and MAN Group Co. United Kingdom.