(I-BusinessNews.Com, January 12, 2018 ) The Indian foundry industry is a major feeder to various sectors, among which the automobile sector accounts for the largest share. India is the second largest manufacturer of metal castings globally in terms of production volume, after China, producing various metals such as grey iron, ductile iron, steel and aluminum alloys for various applications.
According to our latest Market research report titled Foundry Market in India 2017, India currently has over 4,500 foundries in the small, medium and large scale sectors with around 1500 units having international quality accreditation. Further, the production of castings is expected to grow at CAGR of ~14% during FY 2016 to FY 2022.
Foundry Market in India-Key Growth Factors
Increasing production of light vehicles worldwide is acting as a key growth driver for the global foundry market. The market is set to expand predominantly owing to growing automobile production, growth in end-user segments, strong growth in the MSME sector complimented with the availability of low cost labor, improved technology and production facility upgradation.
Expansion of infrastructure by the Indian Government is expected to generate demand for a wide variety of machinery and equipment which, in turn, will create fresh demand for metal casting industry.
Foundry Market in India-Threats and Key Players
Medium capacity utilization and high input costs of the foundry industry are the basic challenges that are affecting its growth adversely. However, India has witnessed a steep rise in export of casting products during 2013 to 2016. The figures are expected to rise further with the launch of Vision Plan 2020 for the foundry industry, initiated by The Institute of Indian Foundrymen (IIF) to recommend the needed initiatives for strong growth and help India emerge as a leading supplier of quality castings to the global market by 2020.
Some of the major players in the industry include Electrosteel Castings Ltd., Tata Metaliks Ltd., Hinduja Foundries Ltd., and DCM Engineering Ltd.
Overview of global Foundry Market, top casting producing countries (2015), product-wise segmentation of global foundry market (2015), top 10 casting producing countries production per plant comparison (2014-2015) Overview of Foundry Market in India and forecasted market size data in terms of volume over FY 2012 to FY 2022e Overview of sector-wise consumption of castings in India (FY 2016) Synopsis of major foundry clusters in India
Export-import scenario Qualitative and quantitative analysis of the major drivers and challenges affecting the market Analysis of the competitive landscape and detailed profiles of major public and private players Benefits and prospects of the India Foundry Mission Vision Plan 2020
Get an in-depth understanding of Global and Indian Foundry Market with focus on market overview, size and growth, product-wise segmentation (global), sector-wise consumption, production type-wise segmentation, major domestic clusters for production, export-import scenario Strategize marketing, market-entry, market expansion, and other business plans by understanding factors influencing growth in the market Be informed about the major domestic players in the foundry market sector and their contribution to the business Understand major competitors' business, market dynamics, and respond accordingly
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