According to the research report titled ‘North America Automotive Casting Market Forecast 2027 By Distribution Channel, By Material, By Process, By Application, By Vehicle, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America automotive casting market is slated to amass USD 25 billion during 2021-2027.

Stringent regulations on pollution & fuel emissions for vehicles, massive investments towards the development of lightweight components, and supportive government initiatives are parameters contributing to North America automotive casting industry expansion.

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During the COVID-19 pandemic, the outbreak had led to the temporary shutdown of various industries which hampered the supply chain activities. The halt in manufacturing activities limited the demand for metals and petrochemical materials which severely affected the growth of market.

However, rising usage of automotive casting as a weight-saving technique is likely to enable the progress of the business sphere in the forthcoming years.

In terms of distribution channels, the original equipment manufacturer (OEM) segment is expected to grow at a 5% CAGR during the forecast period, due to the surging demand for commercial vehicles in logistics and e-commerce.

Based on material type, the iron vertical of North America automotive casting market is anticipated to grow at 4.5% CAGR during the review period, given that the different variants of iron are used in making multiple car parts like gears, bushings, etc. The material is known to have beneficial properties like thermal conductivity, stiffness, and wear resistance.

Meanwhile, the aluminum segment is predicted to account for USD 15 billion by the end of 2027, ascribed to superior acceleration and robust braking & handling features of aluminum vehicles. Moreover, aluminum is known to elevate the fuel economy, and it also has immense environmental advantages, aiding the segmental expansion.

Speaking of the geographical aspect, the U.S. market is poised to record substantial development during the assessment timeframe, owing to several government initiatives to enhance the automobile sector in the country.

The established names augmenting the competitive hierarchy in North America automotive casting marketplace include Madison-Kipp Corporation, Bocar Group, Endurance Technologies Ltd., Gibbs Die Casting Corporation, Ryobi Limited, George Fischer Limited, and Bell Foundry Company among others.