In-Depth Insights into the Foundries Market: Growth, Trends, and Opportunities for 2025-2034
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What fueled the previous growth in the foundries market?
In recent times, the foundries sector has experienced a commendable expansion. Forecasts predict that this market will surge from $190.81 billion in 2024 to a striking $201.64 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.7%. This significant growth during the historical period is a result of the escalated demand in the automotive and aerospace industries, advancements in construction and infrastructure, the production of consumer goods, the necessities of the energy sector, and the globalization of supply chains.
What will be the foundries market size in the future?
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What main drivers are fueling expansion in the foundries market?
Steady economic growth in several developed and developing nations contributes to the expansion of the foundries market. For instance, data from the World Bank indicates a rise in China’s Gross Domestic Product (GDP), from $17.82 trillion in 2021 to $17.94 trillion in 2022. Additionally, India’s GDP experienced a growth rate of between 8% and 8.5% during 2022-2023, and an increase of 9.2% in 2021–2022. It’s projected that developed economies will demonstrate consistent growth throughout the predicted period. Similarly, anticipated economic growth rates for emerging markets are expected to slightly outpace those of developed markets during the same period. Steady economic evolution is likely to amplify investments in end-user markets, thereby propelling the foundries market through the forecast period.
What key areas define the segmentation of the global foundries market?
The foundries market covered in this report is segmented –
1) By Type: Ferrous Metal Foundries, Nonferrous Metal Foundries
2) By Foundry Type: Pure Play Foundry, Integrated Device Manufacturers
3) By Application: Automobile, Pipes and Fittings, Agricultural Machinery, Electrical Equipment, Machine Tools, Other Applications
Subsegments:
1) By Ferrous Metal Foundries: Gray Iron Foundries, Ductile Iron Foundries, Cast Iron Foundries, Steel Foundries
2) By Nonferrous Metal Foundries: Aluminum Foundries, Copper Foundries, Zinc Foundries, Magnesium Foundries, Other Nonferrous Foundries
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Who are the dominant players expanding their reach in the foundries market?
Major companies operating in the foundries market include General Foundries Inc., Waupaca Foundry Inc., Neenah Foundry Company, Gibbs Die Casting Corporation, Precision Castparts Corp., Hitachi Metals Ltd., DONGGUAN ALFA METAL WORKSHOP CO. LTD, Ryobi Limited, Grede Foundries Inc., Georg Fischer Ltd., Alcoa Corporation, Reliance Foundry Co. Ltd., Brukar Inc., John Winter & Co Ltd, Cifunsa Foundry, MetalTek International, Bharat Forge Ltd., Walbro LLC, Wescast Industries Inc., Nemak S.A.B. de C.V., Consolidated Metco Inc., Howmet Aerospace Inc., Cadillac Casting Inc., Harrison Steel Castings Company, Zollern GmbH & Co. KG, Brembo S.p.A., Eck Industries Inc., Hubbardton Forge
How are evolving market trends shaping foundries Strategies?
Notable organizations active in the foundries market are General Foundries Inc., Waupaca Foundry Inc., Neenah Foundry Company, Gibbs Die Casting Corporation, Precision Castparts Corp., Hitachi Metals Ltd., DONGGUAN ALFA METAL WORKSHOP CO. LTD, Ryobi Limited, Grede Foundries Inc., Georg Fischer Ltd., Alcoa Corporation, Reliance Foundry Co. Ltd., Brukar Inc., John Winter & Co Ltd, Cifunsa Foundry, MetalTek International, Bharat Forge Ltd., Walbro LLC, Wescast Industries Inc., Nemak S.A.B. de C.V., Consolidated Metco Inc., Howmet Aerospace Inc., Cadillac Casting Inc., Harrison Steel Castings Company, Zollern GmbH & Co. KG, Brembo S.p.A., Eck Industries Inc., Hubbardton Forge.
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Which regions are emerging as leaders in the foundries market?
Asia-Pacific was the largest region in the foundries market in 2024. Western Europe was the second-largest region in the foundries market. The regions covered in the foundries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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