Market Overview:
The global cast steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cast steel in various end-use industries, such as power generation, rail and transit, mining, construction machinery, oil and gas, aerospace and defense, shipbuilding and others. Carbon steel casting is the most commonly used type of cast steel across the globe due to its high strength-to-weight ratio and corrosion resistance properties. Low alloy steel casting is also witnessing high demand due to its superior mechanical properties as compared to carbon steels. Asia Pacific accounted for the majority share of the global cast steel market in 2017 owing to rapid industrialization in countries such as China and India.
Product Definition:
Cast steel is a type of steel that has been melted and poured into a mold to create a desired shape. This type of steel is important because it can be used for many different applications, such as in machinery, tools, or construction.
Carbon Steel Casting:
Carbon steel casting is one of the processes used to produce metal parts for construction equipment, automobiles and railways. The process involves melting iron ore with carbon in it at a very high temperature to get rid of impurities present in the raw material. After that, the molten metal is cast into a mold under controlled conditions to get desired shape and size.
Low Alloy Steel Casting:
Low alloy steel casting is a process where low alloy or carbon steel is heated and used to make metal parts. The finished product has properties such as high strength, ductility, hardness, wear resistance and corrosion resistance. It also has less weight compared to other metals such as cast iron and aluminum which makes it useful in various industries like construction equipment, automobiles etc.
Application Insights:
The market is segmented by application into power generation, rail and transit, mining, construction machinery, oil and gas, aerospace and defense. The construction machinery segment held the largest share in 2017 owing to the increasing demand for heavy-duty equipment for building sites. Cast steel offers various advantages including low weight with superior strength properties as compared to conventional machined parts. These factors are likely to drive cast steel market growth in construction machinery applications over the forecast period.
Cast iron products such as skidsheaves are used on building sites for moving materials & debris while constructing a structure or while renovating an old structure so that people do not get injured from falling objects or surfaces at a site.
Regional Analysis:
Asia Pacific dominated the global cast steel market in 2016 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Vietnam. Growing industrialization coupled with increasing investments in infrastructure development by various governments across these countries has resulted in growing demand for machinery and equipment. This trend is projected to continue over the next eight years, thereby driving product demand from 2017 to 2030.
Europe accounted for a significant share of global market revenue owing to high product consumption related to shipbuilding activities across countries such as Germany, Italy and Spain among others. In addition, aerospace industry also contributed significantly toward growth of Europe's cast steel market owing trolleybus manufacturing facilities established by Siemens AG & Co.
Growth Factors:
- Increasing demand from the automotive and construction industries
- Growing popularity of cast steel in the Asia Pacific region
- Rising investment in research and development by leading players
- Proliferation of advanced manufacturing technologies
- Growing demand for lightweight and high-strength cast steel products
Scope Of The Report
Report Attributes
Report Details
Report Title
Cast Steel Market Research Report
By Type
Carbon Steel Casting, Low Alloy Steel Casting, High Alloy Steel Casting
By Application
Power Generation, Rail and Transit, Mining, Construction Machinery, Oil and Gas, Aerospace and Defense, Shipbuilding, Others
By Companies
Precision Castparts, Hitachi, Doosan Heavy Industries & Construction, Kobe Steel, ME Elecmetal, Amsted Rail, Signicast (Form Technologies Company), MetalTek International, Anhui Yingliu, Harrison Steel Casting, Peekay Steel Castings, Impro Precision, Liaoning Fu-An Heavy Industry, Tycon Alloy Industries, Japan Steel Works, Amsteel Castings, Isgec Heavy Engineering
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Cast Steel Market Report Segments:
The global Cast Steel market is segmented on the basis of:
Types
Carbon Steel Casting, Low Alloy Steel Casting, High Alloy Steel Casting
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Generation, Rail and Transit, Mining, Construction Machinery, Oil and Gas, Aerospace and Defense, Shipbuilding, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Precision Castparts
- Hitachi
- Doosan Heavy Industries & Construction
- Kobe Steel
- ME Elecmetal
- Amsted Rail
- Signicast (Form Technologies Company)
- MetalTek International
- Anhui Yingliu
- Harrison Steel Casting
- Peekay Steel Castings
- Impro Precision
- Liaoning Fu-An Heavy Industry
- Tycon Alloy Industries
- Japan Steel Works
- Amsteel Castings
- Isgec Heavy Engineering
Highlights of The Cast Steel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Carbon Steel Casting
- Low Alloy Steel Casting
- High Alloy Steel Casting
- By Application:
- Power Generation
- Rail and Transit
- Mining
- Construction Machinery
- Oil and Gas
- Aerospace and Defense
- Shipbuilding
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cast Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cast steel is a type of steel that is made by casting the metal in a mold. The metal is heated until it reaches its molten state, and then it is poured into the mold. The molten metal cools and solidifies around the edges of the mold, creating a cast piece of steel.
Some of the major companies in the cast steel market are Precision Castparts, Hitachi, Doosan Heavy Industries & Construction, Kobe Steel, ME Elecmetal, Amsted Rail, Signicast (Form Technologies Company), MetalTek International, Anhui Yingliu, Harrison Steel Casting, Peekay Steel Castings, Impro Precision, Liaoning Fu-An Heavy Industry, Tycon Alloy Industries, Japan Steel Works, Amsteel Castings, Isgec Heavy Engineering.
The cast steel market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cast Steel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cast Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cast Steel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cast Steel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cast Steel Market Size & Forecast, 2020-2028
4.5.1 Cast Steel Market Size and Y-o-Y Growth
4.5.2 Cast Steel Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Carbon Steel Casting
5.2.2 Low Alloy Steel Casting
5.2.3 High Alloy Steel Casting
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Power Generation
6.2.2 Rail and Transit
6.2.3 Mining
6.2.4 Construction Machinery
6.2.5 Oil and Gas
6.2.6 Aerospace and Defense
6.2.7 Shipbuilding
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cast Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cast Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Carbon Steel Casting
9.6.2 Low Alloy Steel Casting
9.6.3 High Alloy Steel Casting
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Power Generation
9.10.2 Rail and Transit
9.10.3 Mining
9.10.4 Construction Machinery
9.10.5 Oil and Gas
9.10.6 Aerospace and Defense
9.10.7 Shipbuilding
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Carbon Steel Casting
10.6.2 Low Alloy Steel Casting
10.6.3 High Alloy Steel Casting
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Power Generation
10.10.2 Rail and Transit
10.10.3 Mining
10.10.4 Construction Machinery
10.10.5 Oil and Gas
10.10.6 Aerospace and Defense
10.10.7 Shipbuilding
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Carbon Steel Casting
11.6.2 Low Alloy Steel Casting
11.6.3 High Alloy Steel Casting
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Power Generation
11.10.2 Rail and Transit
11.10.3 Mining
11.10.4 Construction Machinery
11.10.5 Oil and Gas
11.10.6 Aerospace and Defense
11.10.7 Shipbuilding
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Carbon Steel Casting
12.6.2 Low Alloy Steel Casting
12.6.3 High Alloy Steel Casting
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Power Generation
12.10.2 Rail and Transit
12.10.3 Mining
12.10.4 Construction Machinery
12.10.5 Oil and Gas
12.10.6 Aerospace and Defense
12.10.7 Shipbuilding
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Carbon Steel Casting
13.6.2 Low Alloy Steel Casting
13.6.3 High Alloy Steel Casting
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Power Generation
13.10.2 Rail and Transit
13.10.3 Mining
13.10.4 Construction Machinery
13.10.5 Oil and Gas
13.10.6 Aerospace and Defense
13.10.7 Shipbuilding
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cast Steel Market: Competitive Dashboard
14.2 Global Cast Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Precision Castparts
14.3.2 Hitachi
14.3.3 Doosan Heavy Industries & Construction
14.3.4 Kobe Steel
14.3.5 ME Elecmetal
14.3.6 Amsted Rail
14.3.7 Signicast (Form Technologies Company)
14.3.8 MetalTek International
14.3.9 Anhui Yingliu
14.3.10 Harrison Steel Casting
14.3.11 Peekay Steel Castings
14.3.12 Impro Precision
14.3.13 Liaoning Fu-An Heavy Industry
14.3.14 Tycon Alloy Industries
14.3.15 Japan Steel Works
14.3.16 Amsteel Castings
14.3.17 Isgec Heavy Engineering
