The global foundries market is expected to grow from $178.64 billion in 2020 to $198.35 billion in 2021 at a compound annual growth rate (CAGR) of 11%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $242.9 billion in 2025 at a CAGR of 5%.
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The foundries market consists of sales of molded castings by entities (organizations, sole traders and partnerships) that produce castings by pouring molten metal into molds. Foundries include iron foundries, steel investment foundries, steel foundries, non-ferrous metal die casting foundries, aluminum foundries and other non-ferrous metal foundries. The foundries market is segmented into ferrous metal foundries and nonferrous metal foundries.
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The foundries market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the foundries market are Alcoa, Bharat Forge, Hitachi Metals, Precision Castparts, AMCOL Metalcasting.
The global foundries market is segmented –
1) By Type: Ferrous Metal Foundries, Nonferrous Metal Foundries
2) By Application: Automobile, Pipes & Fittings, Agricultural Machinery, Electrical Equipment, Machine Tools, Others
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The foundries market report describes and explains the global foundries market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The foundries report evaluates the market across each region and for the major economies within each region.
The countries covered in the global foundries market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global foundries market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Foundries Market Characteristics
- Foundries Market Product Analysis
- Foundries Market Supply Chain
- Key Mergers And Acquisitions In The Foundries Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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