South Africa Cast & Forged Market (2024-2030) | Revenue, Value, Companies, Industry, Share, Analysis, Size, Growth, Outlook, Forecast & Trends

Topics Covered in the South Africa Cast & Forged Market

South Africa Cast & Forged Market report thoroughly covers the market by product types, by activity types, and by applications.  The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

South Africa Cast & Forged Market Synopsis

South Africa Cast & Forged Market has a lot of potential for growth and development. With the increasing demand from various industries and the adoption of new manufacturing technologies, the market is anticipated to grow at a significant pace. South Africa has been at the forefront of the cast & forged industry for many years. With its strategic location, the country has been able to supply high-quality cast & forged products to various markets globally.

According to 6Wresearch, the South Africa Cast & Forged Market size is anticipated to grow enormously at a CAGR of 5.5% during the forecast period of 2024-2030. The demand for lightweight components in the automotive industry is driving the demand for cast & forged products in the country. Furthermore, the growth of the mining and construction industries is creating new opportunities for the cast & forged market. The South Africa Cast & Forged Industry is witnessing several trends such as the increased demand for lightweight components in the automotive industry. With the push for lower carbon dioxide emissions, automotive manufacturers are looking for lighter components to improve fuel efficiency. Another trend is the adoption of 3D printing technology in the industry. The ability to produce complex and customized parts quickly has made 3D printing a popular option for manufacturing cast & forged products. The South Africa Cast & Forged Market Growth is hampered by the competition from other low-cost countries that have a similar industry. Due to this, South African manufacturers need to improve their production processes and innovate their products to remain competitive. Additionally, the high raw material costs affect the profitability of the industry.

Government policies and schemes introduced in the South Africa Cast & Forged Market

The government of South Africa has introduced several policies and schemes to uplift this sector. These policies and schemes have tried to improve the industry's competitiveness on a global market level. One of the significant government initiatives is the introduction of the Automotive Production Development Program (APDP). It was created to provide several incentives to OEMs and tier-one automotive suppliers that use domestically manufactured Cast & Forged parts in their products. Another significant initiative is the National Foundry Technology Network (NFTN), which was established in 2004. This organization's primary objective is to develop and advance the competitiveness of South African manufacturers of castings by encouraging technological innovation and dissemination of knowledge. The government has also focused on the development of small and medium-sized companies in the sector. The Small Enterprise Finance Agency (SEFA) is a development financing organization under the Department of Small Business Development.

Key players in the South Africa Cast & Forged Market

Key players in the South Africa Cast & Forged Market include Arcelor Mittal, Scaw Metals, and Norton Foundry Equipment. Arcelor Mittal is the largest steelmaker in South Africa and has the most significant foundry production capacity in the country. Scaw Metals is a market leader in the manufacturing of steel and steel products, including castings. Norton Foundry Equipment is a supplier of foundry machinery, equipment, and technology.

Market by Product Types

According to Nikhil, Senior Research Analyst, 6Wresearch, the iron casting is the largest segment, accounting for the highest share of the market, followed by steel casting segment. However, the miscellaneous segment has been growing in the market owing to the increasing demand for aluminum alloys in the aerospace and automotive industries. This segment includes materials like magnesium alloys, zinc alloys, and aluminum alloys.

Market by Activity Types

Based on Activity Types, Closed die forging is the most dominant, followed by cold forging and open die forging segments. These activities are used in different industries; for instance, the automotive industry uses cold forging to manufacture small gears while the aerospace industry uses open-die forging to make turbine compressors.

Market by Application

By Application, the automotive industry is leading the South Africa Cast & Forged Market Share over the forecast period due to the rising need for fuel-efficient vehicles and lightweight materials.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• South Africa Cast & Forged Market Overview
• South Africa Cast & Forged Market Outlook
• Market Size of South Africa Cast & Forged Market, 2023
• Forecast of South Africa Cast & Forged Market, 2030
• Historical Data and Forecast of South Africa Cast & Forged Revenues & Volume for the Period 2020 - 2030
• South Africa Cast & Forged Market Trend Evolution
• South Africa Cast & Forged Market Drivers and Challenges
• South Africa Cast & Forged Price Trends
• South Africa Cast & Forged Porter's Five Forces
• South Africa Cast & Forged Industry Life Cycle
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Product Types for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Light Alloys for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Copper Alloys for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Iron Casting for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Steel Casting for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Miscellaneous for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Activity Types for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Closed Die Forging for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Open Die Forging for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Rolled Ring Forging for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Cold Forging for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Non-ferrous Closed Die Forging for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Applications for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Automotive for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Aerospace for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Oil & Gas for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Construction for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Agriculture for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Historical Data and Forecast of South Africa Cast & Forged Market Revenues & Volume By Others for the Period 2020 - 2030
• South Africa Cast & Forged Import Export Trade Statistics
• Market Opportunity Assessment By Product Types
• Market Opportunity Assessment By Activity Types
• Market Opportunity Assessment By Applications
• South Africa Cast & Forged Top Companies Market Share
• South Africa Cast & Forged Competitive Benchmarking By Technical and Operational Parameters
• South Africa Cast & Forged Company Profiles
• South Africa Cast & Forged Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Types

• Light Alloys
• Copper Alloys
• Iron Casting
• Steel Casting
• Miscellaneous

By Activity Types

• Closed Die Forging
• Open Die Forging
• Rolled Ring Forging
• Cold Forging
• Non-Ferrous Closed Die Forging

By Applications

• Automotive
• Aerospace
• Oil & Gas
• Construction
• Agriculture
• Industrial
• Others

Frequently Asked Questions About the Market Study (FAQs):