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 estimated to be valued more than USD 25 billion by the end of forecast timeframe 2021-2027.
 

Shifting preferences of automobile manufacturers to electrification due to stringent emission regulations coupled with growing demand for commercial vehicles in logistics and e-commerce industries are primarily driving the growth of automotive casting market in North America.
 

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For the unversed, modern automobile is a complex, interconnected product with over 3,000 components. In fact, every light vehicle produced in United States has at least 100 metal castings. Die castings of aluminum, magnesium, and zinc assist vehicle designers and manufacturers in creating cleaner, safer, and more efficient vehicles that consume less energy and emit fewer pollutants.
 

Elaborating on COVID-19 impact, North American automakers experienced disruptions by lockdowns and production halts, limiting the demand for metals and petrochemical materials in the auto industry. However, increasing usage of die-cast components owing to the weight-saving benefit will continue to boost the industry growth in the coming years.
 

Based on distribution channel, the North America automotive casting market is fragmented into OEM and aftersales. Among these, OEM segment of is expected to grow at a CAGR of over 5% throughout the analysis period.
 

With respect to materials, ductile iron and grey cast iron are increasingly utilized in developing engine blocks, crankshafts, cylinder heads, and disc brakes due to their advantageous features such as wear resistance, stiffness, and high thermal conductivity.
 

Aluminum segment of the market is expected to generate more than USD 15 billion, attributable to better acceleration, braking and handling as compared to steel materials. Moreover, it offers environmental benefits as 90% of aluminum automotive scrap can be recycled.
 

From a regional perspective, United States market is predicted to grow rapidly owing to increasing number of government initiatives undertaken to empower the automobile industry. For instance, US Energy Department approved over USD 8 billion loan to fund the automobile industry through ATVM program, supporting companies in revamping vehicle parts for better fuel economy.
 

Considering the competitive landscape, Madison-Kipp Corp., Endurance Technologies, Ryobi Ltd., George Fischer Ltd., Bell Foundry Co., Gibbs Die Casting, and BOCAR SA de CV, are the major companies influencing the North America automotive casting market trends.