Foundry Equipment Market Size & Growth Report to 2030

The global foundry equipment market is anticipated to register a significant CAGR of around 4% during the forecast period from 2023 to 2030. The market is driven by industrial growth and infrastructure development, as well as innovations in metal casting technologies. The demand for lightweight materials in the automotive and aerospace sectors further boosts equipment requirements. Sustainable practices, government regulations, and globalization of trade play a significant role. Additionally, the need for aftermarket services contributes to the market’s growth. As industries seek to improve manufacturing efficiency and meet evolving demands, the foundry equipment market continues to witness advancements and increased demand for its products worldwide.

Market Snapshot:

Market Drivers:

• Industrial Growth: The growth of industries such as automotive, aerospace, construction, and machinery directly impacts the demand for foundry equipment. As these industries expand, there is a higher need for cast metal components, increasing the demand for foundry equipment.
• Infrastructure Development: Ongoing infrastructure development projects in both developed and developing countries drive the demand for construction equipment and machinery, leading to increased usage of foundry equipment for casting components.
• Manufacturing and Production Efficiency: Foundry equipment plays a crucial role in improving manufacturing and production efficiency. Advanced equipment and automation technologies can enhance productivity, reduce material wastage, and optimize resource utilization, thereby driving the market.
• Metal Casting Innovations: Continuous advancements in casting technologies, such as investment casting, die casting, and 3D sand printing, lead to increased adoption of specialized foundry equipment to cater to specific industry needs.
• Growing Automotive Sector: The automotive industry is one of the primary consumers of cast metal components. As the automotive sector expands and shifts toward electric and autonomous vehicles, the demand for foundry equipment is expected to rise.
• Rapid Urbanization: Urbanization drives the demand for construction materials and machinery, increasing the need for foundry equipment for producing building components and infrastructure materials.
• Infrastructure Rehabilitation: As existing infrastructure ages, there is a need for rehabilitation and maintenance. Foundry equipment is utilized to produce replacement parts for infrastructure repair and restoration.
• Demand for Lightweight Materials: Industries, especially automotive and aerospace, are increasingly using lightweight materials like aluminum to improve fuel efficiency and reduce emissions. This trend drives the demand for foundry equipment for non-ferrous metal casting.
• Focus on Sustainability: The foundry industry is embracing sustainable practices, such as sand reclamation systems and energy-efficient equipment, to reduce environmental impact. The demand for eco-friendly foundry equipment is likely to grow as sustainability becomes a priority.
• Globalization of Trade: As trade between countries increases, the need for foundry equipment rises to cater to the diverse demands of global markets.

To know more about the study, request sample papers

Market Insights:

Market Analysis by Product Type:

The global foundry equipment market is bifurcated into product type, application, end-use industry, and geography. On the basis of product type, the molding machine segment dominated the global market in 2022 and expected to maintain its dominance over the forecast period. Moulding machines hold a fundamental role in the foundry industry as they are used to create molds into which molten metal is poured to produce cast components. This process is an essential step in various casting methods, such as sand casting and investment casting. Moulding machines are versatile and widely utilized in both small and large foundries, catering to diverse industries like automotive, aerospace, construction, and more. Their wide applicability, compatibility with various casting processes, and continuous demand for metal cast components contribute to their prominence. Additionally, advancements in automation integration have further enhanced productivity and efficiency in the casting process.

Die Casting Machine: Die casting machines are used to create complex metal parts with high precision and repeatability. The process involves injecting molten metal into a mold under high pressure to produce parts used in automotive, electronics, and other industries.

Centrifugal Casting Machine: Centrifugal casting machines are used to produce cylindrical or tubular components. The process involves rotating a mold around its axis while pouring molten metal into it, creating centrifugal force that distributes the metal evenly.

Induction Furnace: Induction furnaces are used for melting and heating metals using electromagnetic induction. These furnaces are efficient and provide precise temperature control, making them ideal for foundries with diverse metal melting requirements.

Moulding Machine: Moulding machines are used to form molds into which molten metal is poured to create the desired shape of the final component. They are essential for both sand and metal mold casting processes.

Coremaking Machine: Coremaking machines are used to produce cores made of sand or other materials that are placed inside molds to create cavities in the final casting. Cores help in creating internal features of complex parts.

Shot Blasting Machine: Shot blasting machines are used for surface preparation and cleaning of castings. High-speed projectiles are propelled against the surface of the casting to remove impurities, scale, and improve surface finish.

Market Analysis by End-Use Industry:

On the basis of end-use industry, the global foundry equipment market is further segmented into automotive, aerospace, machinery, shipbuilding, power generation and electricity, and others. the automotive segment is estimated to grow significantly over the forecast period. The automotive sector is one of the largest consumers of metal cast components, relying on foundry equipment to produce critical parts used in vehicles. Engine blocks, cylinder heads, transmission housings, and various other components are manufactured through metal casting processes. The automotive industry’s massive global market and continuous demand for vehicles have sustained the significance of foundry equipment. Moreover, the industry’s focus on innovation, lightweighting, safety, and performance has further bolstered the demand for advanced foundry equipment capable of producing precision-cast parts. Advancements in foundry technology, such as automation and computer simulations, have also played a vital role in meeting the industry’s evolving needs. As the automotive sector continues to evolve, with the rise of electric vehicles and changing consumer preferences, the demand for specialized foundry equipment may see further developments.

Automotive: The automotive industry is a significant consumer of metal cast components. Foundry equipment is used to produce engine parts, transmission components, chassis parts, and other critical automotive components. As the automotive sector continues to evolve, the demand for precision-cast components using advanced foundry equipment is expected to increase.

Aerospace: The aerospace industry demands high-quality, lightweight, and complex components, making it a key market for foundry equipment. Investment casting and other advanced casting methods are employed to create intricate parts for aircraft, rockets, and satellites. The aerospace sector’s growth drives the demand for specialized foundry equipment capable of meeting strict quality standards.

Machinery: The machinery industry relies on foundry equipment for producing various components used in construction, agriculture, mining, and industrial machinery. Moulding machines, melting equipment, and coremaking machines are crucial in providing the required parts for heavy machinery.

Shipbuilding: Foundry equipment is essential in the shipbuilding industry for casting critical marine components, including propellers, engine parts, and structural elements. As global trade and naval activities increase, the demand for shipbuilding is expected to drive the foundry equipment market.

Power Generation and Electricity: The energy sector depends on foundry equipment to manufacture components for power generation equipment, such as turbines, generators, and power transmission infrastructure. The growing demand for energy and the shift towards renewable energy sources drive the market for foundry equipment in this sector.

Others: The “Others” category includes a wide range of industries such as construction, rail transportation, defense, consumer goods, and more. Foundry equipment caters to the diverse casting needs of these industries, making it a versatile and adaptable market.

The foundry equipment market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Product Type:

• Die Casting Machine
• Centrifugal Casting Machine
• Induction Furnace
• Moulding Machine
• Coremaking Machine
• Shot Blasting Machine

By Application:

• Ferrous Foundry
• Non-Ferrous Foundry
• Die Casting
• Sand Casting
• Shell Molding
• Others

By End-Use Industry:

• Automotive
• Aerospace
• Machinery
• Shipbuilding
• Power Generation and Electricity
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

On the basis of region, the Asia Pacific dominated the global foundry equipment market in 2022 and anticipated to grow at a significant CAGR over the forecast period. This region has emerged as a major force in the industrial landscape, particularly in metal casting and foundry operations. Several key factors contribute to Asia-Pacific’s dominance in the market. The region has witnessed rapid industrialization and urbanization, leading to a surge in demand for metal cast components for various industries. Countries like China, India, South Korea, and Japan have experienced significant growth in their automotive and aerospace sectors, further driving the need for foundry equipment to produce precision-cast parts.

Moreover, Asia-Pacific nations have embraced advancements in manufacturing technologies, including automation and digitalization, enhancing the efficiency of foundry operations. Large-scale infrastructure projects in the region have also contributed to the demand for metal cast components, supporting the growth of the foundry equipment market. Access to abundant raw materials required for metal casting, coupled with the region’s economic growth and rising consumer demand, further strengthens Asia-Pacific’s position as a dominant player in the foundry equipment market.

Competitive Assessment:

Some of the prominent market players operating in the global foundry equipment market are DISA Group, Sinto Group, Loramendi S. Coop., Küttner Group, and ABP Induction Systems. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• DISA Group
• Sinto Group
• Loramendi S. Coop.
• Küttner Group
• ABP Induction Systems
• Bühler Group
• Omega Foundry Machinery
• Baoding Well Foundry Machinery Co. Ltd.
• Savelli Technologies
• EIRICH Group

Key Questions Answered by Foundry Equipment Market Report

• Global foundry equipment market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Foundry equipment submarket forecasts from 2023-2030 covering the market by product type, application, end-use industry, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level foundry equipment markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market