Automotive Casting Market Size, Share, Growth Analysis, By Material(Iron, Steel, Aluminum, and Others), By Process(Sand casting, Die casting, Investment casting, and others), By Region - Industry Forecast 2024-2031

Global Automotive Casting Market size was valued at USD 96.85 billion in 2022 and is poised to grow from USD 102.27 billion in 2023 to USD 158.15 billion by 2031, at a CAGR of 5.60% during the forecast period (2024-2031).

Growing automotive manufacturing activity around the world is driving the automotive casting market. Using automotive casting, vehicle manufacturers can create important and intricate components used for vehicle manufacturing. Die casting, investment casting, and sand casting are some of the popular types of casting methods used to make transmission housing, engine blocks, heads, etc,

High sales of vehicles around the world and growing demand for different automotive components are boosting demand for automotive casting around the world. The need for a steady supply of cast vehicle parts is creating new opportunities for automotive casting companies. Growing demand for efficiency from vehicles has led to the rising use of aluminum and magnesium cast components.

Innovations in casting technology to cast complex components with utmost precision and reduced defects are also driving automotive casting market growth. Demand for enhanced surface finish is also boosting innovation in this marketplace. Automotive casting market players are focusing on incorporating automation and other advanced technologies to improve productivity and reduce the costs of the automotive casting process.

Unique design requirements of electric vehicles (EVs) are projected to offer a plethora of new opportunities for automotive casting providers and force them to innovate with lighter materials as EVs are being built with lighter materials to improve their range and efficiency. The imposition of strict safety mandates and advancements in casting technology are also slated to boost market growth in the long run.