Dies and Molds Market in India 2018-2022 | Automation in Die Casting Process to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 17, 2018-- analysts forecast the dies and molds Market in India to grow at a CAGR of close to 9% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the dies and molds Market in India from 2018-2022. (Graphic: Business Wire)
Incorporation of simulation technology in casting process is one of the major trends being witnessed in the . Operators in the global casting industry are gradually incorporating various simulation based software with their offerings to cater to the growing needs of end-users, such as the automotive sector. Simulation technology is used to produce reliable, high-precision, and cost-effective components in the casting method. Simulation based casting helps in the easy detection of defects and eliminates them with ease to optimize the feed ability of the casting process.
According to Technavio analysts, one of the key factors contributing to the growth of the dies and molds market in India is the automation in die casting process:
Dies and molds market in India: Automation in die casting process
Over the past two decades, there has been a significant increase in the adoption of industry robots in the manufacturing industry. The use of industrial robots in the manufacturing process offers increased efficiency, higher flexibility, reduced cycle time, and enhanced precision in producing the final product. Therefore, the automation in die casting process is expected to propel the growth of the dies and molds market in India during the forecast period.
According to a senior analyst at Technavio for research on tools and components, “Apart from the automation in die casting process, factors such as the high demand from construction activities, and the new opportunities with aluminum metal injection molding will fuel the growth of the dies and molds market in India during the forecast period.”
Dies and molds market in India: Segmentation analysis
The dies and molds market in India research report provides market segmentation by application (casting, forging, and injection molding), by end-user (automotive, construction, electronics, and machine tools) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The automotive segment held the largest share of the market in 2017, accounting for close to 29% share, followed by construction, electronics, and machine tools respectively. The electronics segment is expected to dominate the market with the highest incremental growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 12/17/2018 10:05 AM/DISC: 12/17/2018 10:05 AM