Industrial casting market in US to grow at a CAGR of 5.31% from 2022 to 2027: Increased demand for iron casting from renewable energy sector to boost growth

NEW YORK, May 1, 2023 /PRNewswire/ — The size of the industrial casting market in US is estimated to increase by USD 4,914.44 million from 2022 to 2027. The market’s growth momentum will progress at a CAGR of over 5.31%. The increased demand for iron casting from the renewable energy sector is driving the growth of the industrial casting market in US. Castings are crucial for the wind energy sector. Direct combustion is the most common method of producing bioelectricity. Some of the common types of alternative energy sources include biomass and heat pumps, geothermal heat, solar PV cells, hydropower, and wind. Therefore, iron castings are anticipated to play a significant role in the adoption of renewable energy sources. These factors are expected to fuel the growth of the market during the forecast period. Discover some insights on market size, historic period (2017-2021), and forecast (2023-2027) before buying the full report – Request a sample report

Industrial casting market in US – Vendor analysis

Vendor landscape –

The industrial casting market in US is fragmented, with the presence of several vendors. A few prominent vendors that offer industrial casting in the US are Alcoa Corp., Aludyne Inc., Andritz AG, Charlotte Pipe and Foundry Co., D.W. Clark, EJ Group Inc., Georg Fischer AG, Great Lakes Castings LLC, Grupo Industrial Saltillo SAB de CV, Impro Precision Industries Ltd., KSB SE and Co. KGaA, Meridian Lightweight Technologies Inc., MetalTek International, Neenah Enterprises Inc., OSCO Industries Inc., Pace Industries, Precision Castparts Corp., Sivyer Steel Castings LLC, Sujan Industries, and The Weir Group Plc and others.

Key vendors provide a wide range of products for various applications across industries. During the forecast period, the competitive environment in the market might is expected to intensify, with the extension of product applications in terms of innovation in technology. M&A and joint ventures will further intensify the competition due to the rise in demand for automobile and industrial machinery. Vendors compete based on factors such as the cost of production, product innovation, price, operational cost, R&D cost, and product quality. These factors will drive the growth of the market during the forecast period.

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Vendor offerings –

• Charlotte Pipe and Foundry Co. – The company offers industrial casting, such as gray iron castings.
• D.W. Clark – The company offers industrial casting, such as sand castings.
• EJ Group Inc. – The company offers industrial casting, such as drain manhole castings.
• Georg Fischer AG – The company offers industrial casting, such as aluminum and magnesium high-pressure die castings.
• For details on vendors and their offerings – Request a sample report

Industrial casting market in US – Segmentation assessment

Segment overview
Technavio has segmented the market based on type (non ferrous and ferrous) and end-user (machinery, automotive, electrical and electronics, and construction and others). 

• The non ferrous segment will account for a major share of the market’s growth during the forecast period. Non-ferrous casting involves the casting process using metals such as aluminum, copper, zinc, magnesium, and other non-ferrous metals, such as tin, titanium, lead, nickel, and rare-earth metals. Out of these, aluminum is the most prominently used metal. The non-ferrous castings segment of the US industrial casting market is expected to grow as a result of the demand arising from the automotive industry.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market. Download a sample report

Industrial casting market in US – Market dynamics

Key trends – The shift from ferrous to non-ferrous castings is a key trend in the market. In recent years, the US metal casting market has shifted to non-ferrous castings, such as aluminum castings, due to their superior properties. End-user industries such as automotive, telecommunications, and industrial machinery are looking for lightweight products to improve quality and efficiency by reducing overall weight. Moreover, several automotive manufacturers use cast iron engine blocks. Various parts of automobiles are being replaced with highly non-ferrous casting products to increase the efficiency of vehicles. These factors are expected to support the growth of the market during the forecast period.

Major challenges – Volatile raw material prices are challenging market growth. Fluctuations in raw material prices and declining prices of cast steel products have a high impact on steelmakers. As a result, manufacturers vertically integrate their upstream operations to remain competitive in the market and gain more control over commodity prices. The packaging industry is a key source of steel scrap. However, the low prices of iron ore are leading to a decline in scrap imports from the US. Thus, fluctuation in the prices of iron ore impacts the demand for steel scrap, which will impede market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the industrial casting market in US between 2023 and 2027
• Precise estimation of the size of the industrial casting market in US and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industrial casting market in US
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 12: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Industrial casting market in US 2017 – 2021 
• Exhibit 15: Historic Market Size – Data Table on Industrial casting market in US 2017 – 2021 ($ million)

• 4.2 Type Segment Analysis 2017 – 2021 
• Exhibit 16: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 – 2021 
• Exhibit 17: Historic Market Size – End-user Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 25: Chart on Type – Market share 2022-2027 (%)
• Exhibit 26: Data Table on Type – Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 27: Chart on Comparison by Type
• Exhibit 28: Data Table on Comparison by Type

• 6.3 Non ferrous – Market size and forecast 2022-2027 
• Exhibit 29: Chart on Non ferrous – Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Non ferrous – Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Non ferrous – Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Non ferrous – Year-over-year growth 2022-2027 (%)

• 6.4 Ferrous – Market size and forecast 2022-2027 
• Exhibit 33: Chart on Ferrous – Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Ferrous – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Ferrous – Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Ferrous – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 37: Market opportunity by Type ($ million)
• Exhibit 38: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 39: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 40: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 41: Chart on Comparison by End-user
• Exhibit 42: Data Table on Comparison by End-user

• 7.3 Machinery – Market size and forecast 2022-2027 
• Exhibit 43: Chart on Machinery – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Data Table on Machinery – Market size and forecast 2022-2027 ($ million)
• Exhibit 45: Chart on Machinery – Year-over-year growth 2022-2027 (%)
• Exhibit 46: Data Table on Machinery – Year-over-year growth 2022-2027 (%)

• 7.4 Automotive – Market size and forecast 2022-2027 
• Exhibit 47: Chart on Automotive – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Automotive – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Automotive – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Automotive – Year-over-year growth 2022-2027 (%)

• 7.5 Electrical and electronics – Market size and forecast 2022-2027 
• Exhibit 51: Chart on Electrical and electronics – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Electrical and electronics – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Electrical and electronics – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Electrical and electronics – Year-over-year growth 2022-2027 (%)

• 7.6 Construction and others – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Construction and others – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Construction and others – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Construction and others – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Construction and others – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user 
• Exhibit 59: Market opportunity by End-user ($ million)
• Exhibit 60: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.3 Impact of drivers and challenges 
• Exhibit 62: Impact of drivers and challenges in 2022 and 2027

10 Vendor Landscape

• 10.2 Vendor landscape
• Exhibit 63: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 64: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 65: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 66: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 67: Matrix on vendor position and classification

• 11.3 Alcoa Corp.
• Exhibit 68: Alcoa Corp. – Overview
• Exhibit 69: Alcoa Corp. – Business segments
• Exhibit 70: Alcoa Corp. – Key offerings
• Exhibit 71: Alcoa Corp. – Segment focus

• 11.4 Charlotte Pipe and Foundry Co. 
• Exhibit 72: Charlotte Pipe and Foundry Co. – Overview
• Exhibit 73: Charlotte Pipe and Foundry Co. – Product / Service
• Exhibit 74: Charlotte Pipe and Foundry Co. – Key offerings

• 11.5 D.W. Clark
• Exhibit 75: D.W. Clark – Overview
• Exhibit 76: D.W. Clark – Product / Service
• Exhibit 77: D.W. Clark – Key offerings

• 11.6 EJ Group Inc.
• Exhibit 78: EJ Group Inc. – Overview
• Exhibit 79: EJ Group Inc. – Product / Service
• Exhibit 80: EJ Group Inc. – Key offerings

• 11.7 Georg Fischer AG
• Exhibit 81: Georg Fischer AG – Overview
• Exhibit 82: Georg Fischer AG – Business segments
• Exhibit 83: Georg Fischer AG – Key offerings
• Exhibit 84: Georg Fischer AG – Segment focus

• 11.8 Great Lakes Castings LLC 
• Exhibit 85: Great Lakes Castings LLC – Overview
• Exhibit 86: Great Lakes Castings LLC – Product / Service
• Exhibit 87: Great Lakes Castings LLC – Key offerings

• 11.9 Grupo Industrial Saltillo SAB de CV 
• Exhibit 88: Grupo Industrial Saltillo SAB de CV – Overview
• Exhibit 89: Grupo Industrial Saltillo SAB de CV – Business segments
• Exhibit 90: Grupo Industrial Saltillo SAB de CV – Key offerings
• Exhibit 91: Grupo Industrial Saltillo SAB de CV – Segment focus

• 11.10 Impro Precision Industries Ltd. 
• Exhibit 92: Impro Precision Industries Ltd. – Overview
• Exhibit 93: Impro Precision Industries Ltd. – Business segments
• Exhibit 94: Impro Precision Industries Ltd. – Key offerings
• Exhibit 95: Impro Precision Industries Ltd. – Segment focus

• 11.11 KSB SE and Co. KGaA
• Exhibit 96: KSB SE and Co. KGaA – Overview
• Exhibit 97: KSB SE and Co. KGaA – Business segments
• Exhibit 98: KSB SE and Co. KGaA – Key offerings
• Exhibit 99: KSB SE and Co. KGaA – Segment focus

• 11.12 Meridian Lightweight Technologies Inc. 
• Exhibit 100: Meridian Lightweight Technologies Inc. – Overview
• Exhibit 101: Meridian Lightweight Technologies Inc. – Product / Service
• Exhibit 102: Meridian Lightweight Technologies Inc. – Key offerings

• 11.13 MetalTek International 
• Exhibit 103: MetalTek International – Overview
• Exhibit 104: MetalTek International – Product / Service
• Exhibit 105: MetalTek International – Key offerings

• 11.14 Neenah Enterprises Inc. 
• Exhibit 106: Neenah Enterprises Inc. – Overview
• Exhibit 107: Neenah Enterprises Inc. – Product / Service
• Exhibit 108: Neenah Enterprises Inc. – Key offerings

• 11.15 OSCO Industries Inc.
• Exhibit 109: OSCO Industries Inc. – Overview
• Exhibit 110: OSCO Industries Inc. – Product / Service
• Exhibit 111: OSCO Industries Inc. – Key offerings

• 11.16 Pace Industries
• Exhibit 112: Pace Industries – Overview
• Exhibit 113: Pace Industries – Product / Service
• Exhibit 114: Pace Industries – Key offerings

• 11.17 The Weir Group Plc
• Exhibit 115: The Weir Group Plc – Overview
• Exhibit 116: The Weir Group Plc – Business segments
• Exhibit 117: The Weir Group Plc – Key news
• Exhibit 118: The Weir Group Plc – Key offerings
• Exhibit 119: The Weir Group Plc – Segment focus

12 Appendix

• 12.2 Inclusions and exclusions checklist 
• Exhibit 120: Inclusions checklist
• Exhibit 121: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 122: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 123: Research methodology
• Exhibit 124: Validation techniques employed for market sizing
• Exhibit 125: Information sources

• 12.5 List of abbreviations 
• Exhibit 126: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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