A recent report published by Infinium Global Research on the foundry equipment market provides an in-depth analysis of segments and
sub-segments in the global as well as regional foundry equipment market. The
study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional foundry equipment market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecast
and dollar values of the global foundry equipment market. According to the
report, the global foundry equipment market is projected to grow at a CAGR of
5.7% over the forecast period of 2019-2025.
Foundry equipment includes tools, machines, and devices that
are used in foundries. There is a different type of foundry equipment as
cleaning and finishing equipment, mold, core & sand, melting, pouring &
heat treatment equipment, used for different purposes. A variety of foundry
equipment is available in the market which is used in applications, such as
mold, automation, core and sand-making, laboratory, safety, and environmental
conservation purposes, cleaning and finishing, testing and inspection. These
equipment are readily modified and configured in response to varying needs and
facilitate a practical way to accomplish different tasks and activities.
The growing disposable income in
developing countries is resulting in a demand for automobiles. Since
automobiles are the major utilizer of metal castings, they are expected to
drive the growth of the market. Further, the growing industrialization and
increasing requirement of the different types of metal for commercial and
domestic purposes is helping to grow the demand for the foundry equipment
market around the world. Additionally, numerous countries are increasing their
investments in the foundry industry. This is propelling the demand for the
growth of the foundry equipment market. However, slow down the consumption of
metal products by industries and retail consumers is affecting the growth of
this market. Moreover, in the automotive industry, trends of light-weighting
and higher flexibility in robotics & machine tools provide a growth
opportunity for the foundry equipment market.
North America is holding the largest share of the foundry
equipment market, owing to the presence of a number of major market players,
which constantly supports the growth of other industries in this region. The
Asia-Pacific foundry equipment market is expected to grow with a healthy CAGR
during the forecast period, owing to the growing industrialization in this
region. Further, the demand growth for foundry equipment is large in Asian
countries. These countries are fast in establishing various metal casting
factories to meet the rising demand.
The report on global foundry equipment market covers
segments such as type, and applications. On the basis of type, the sub-markets
include automation, mold, core & sand, cleaning & finishing, melting, pouring
& heat treatment equipment, testing & inspection, and maintenance. On
the basis of applications, the sub-markets include automotive, machinery, power
generation and electricity, aerospace, shipbuilding, and other industrial
applications.
The report provides profiles of the companies in the market
such as Nabertherm GmbH, KÜNKEL WAGNER Germany GmbH, Norican Group, BAODING
WELL FOUNDRY MACHINERY CO., LTD, SINTOKOGIO, LTD., and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of foundry
equipment market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
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