NEW YORK, July 15, 2019 /PRNewswire/ --
Global Steel Casting Market: About this market
Steel casting is a process that involves the pouring of molten steel into molds made of sand or ceramic platter to create the desired shape. This steel casting market analysis considers sales from applications including automotive and transportation, construction and infrastructure, mining, power, oil and gas, and other applications. Our analysis also considers the sales of steel casting in APAC, Europe, North America, South America, and MEA. In 2018, the automotive and transportation segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing demand for freight aircraft will play a significant role in the automotive and transportation segment to maintain its market position. Also, our global steel casting market report looks at factors such as growing construction activities, increasing demand for steel casting in the automotive industry, and superior properties of steel casting. However, environmental concerns related to the casting industry, increasing demand for alternative metal alloys, and fluctuations in steel prices may hamper the growth of the steel casting industry over the forecast period.
Read the full report: https://www.reportlinker.com/p04343234/?utm_source=PRN
Global Steel Casting Market: Overview
Superior properties of steel casting
Steel casting is preferred as it is more reliable than other metal castings. It offers improved weldability and workability at high temperatures and metallurgical versatility. End-users extensively use steel casting as it enhances productivity and minimizes the delivery time. Such superior properties of steel casting will lead to the expansion of the global steel casting market at a CAGR of over 4% during the forecast period.
Introduction of automation in the die-casting process
Automated robots are being increasingly used in casting machines of foundries owing to advantages such as reduced cycle time, enhanced flexibility, enhanced precision, and high efficiency. It enables end-users to produce high-quality, reliable, and precise casting products. The introduction of automation in the die-casting process is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global steel casting market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global steel casting market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading steel casting manufacturers, that include Berkshire Hathaway Inc., Hitachi Metals Ltd., Japan Casting & Forging Corp., Kobe Steel Ltd., and Peekay Steel Castings Pvt. Ltd.
Also, the steel casting market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p04343234/?utm_source=PRN
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