Foundry Market in India 2017 with data on Metal Castings Production and Consumption for Automobile, Sanitary Ware, Pipes and Fittings, Agricultural Machinery and Others
India is the second largest producer of castings, globally. The Indian foundry industry produces various types of metal castings and cast components for application in the power, automotive, defense, railways, machine tools, agro machinery, tractor, earth-moving and mining machinery, electrical machinery, and oil and natural gas industries. The automobile sector is a major consumer of castings produced in the country. Currently, there are around 4,500 foundry units in the small, medium and large-scale sector. Out of these, 1500 units have international quality accreditation.
Global foundry market insights:
In 2017, global castings production witnessed an increase of ~5.3% from 2016, and reached a value of ~110 Mn tonnes. Based on total output, Russia had the highest growth in 2017, with an increase of ~8.3% in production from 2016. China increased its production by 2 Mn tonnes, reaching a total of 49.4 Mn in 2017. Increasing production of light vehicles worldwide is acting as a key growth driver for the global foundry market. The growth in production of light vehicles is expected to increase demand for new cast metal parts, across the world, and also lead to the replacement of old metal casting products with more energy efficient metal casting solutions.
India foundry market insights:
Casting production in India reached a value of 11 Mn tonnes in 2018, and is expected expand at a compound annual growth rate (CAGR) of ~12.7% from 2018 until 2023. The automobile sector consumes around 40% of castings produced in India. As of 2018, aluminum castings contributed around 15% of the total castings production in the country. The share is expected to increase considerably by the end of 2023, owing to a shift in demand from iron to lighter castings materials for manufacturing fuel-efficient automobiles and electronic vehicles (EVs). Expansion of infrastructure by the government is expected to generate demand for a wide variety of machinery and equipment such as cranes, fans, motors, appliances, pumps, conveyor equipment, etc. which, in turn, will create fresh demand for metal castings.
The major foundry clusters are located in Batala, Jalandhar, Ludhiana, Agra, Pune, Kolhapur, Sholapur, Rajkot, Mumbai, Ahmedabad, Belgaum, Coimbatore, and Chennai, among other Indian cities. Each of these foundry units caters to some specific end-use market. The Coimbatore cluster is famous for pump-set castings, the clusters in Kolhapur and Belgaum are known for automotive castings, and the Rajkot cluster is famous for diesel engine castings. Some of the notable companies producing metal castings include Electrosteel Castings Ltd., Hinduja Foundries Ltd., Nelcast Ltd., and Tata Metaliks Ltd., among others.
End-user segment growth insights:
Automotive: The foundry market is linked directly with the development of the overall automotive sector. Growth of the automobile industry is expected to generate huge demand for castings producers. Based on volume, India is currently the fourth largest automobile industry, globally. Rapid growth of the automotive sector has also led to the steady development of other subsidiary industries like the auto component industry, indicating huge demand for castings.
Pipes and fittings: The pipe sector in India is poised for steady growth due to substantial investments and capacity additions. Companies produce a wide range of steel, cement and PVC pipes, which are used in various industries. Demand for castings is expected to expand with the growth of the pipes and fittings market in India.
Power: Consistent power supply and availability of quality electrical equipment are necessary for the growth of the Indian economy from a global perspective. As of December 2018, India had a power generating capacity of ~349.28 GW. The Government of India has targeted an addition of ~88.5 GW under the 12th Five-Year Plan (2012–2017), and another ~100 GW under the 13th Five-Year Plan (2017–2022). The foundry industry is expected to benefit from such power generation installations.
Government initiatives:
A Vision Plan 2020 has been initiated by The Institute of Indian Foundrymen (IIF) to recommend the needed initiatives for rapid growth, and emerge as a leading supplier of quality castings in the global market by 2020. An implementing agency for the India Foundry Mission (IFM) will have full authority to represent it, demonstrate the pilots and implement recommendations, and monitor market growth.
Key growth drivers of the market:
• Foundries across India are presently upgrading facilities and technologies in a bid to improve their productivity and increase their capacity. To cater to the growing demand, this industry is embarking on major expansions and technological initiatives, with investments of over INR 10 Bn, since 2011.
• Majority of the foundry units in India fall under the MSME sector, which has registered consistent growth over the years. There are around 51 Mn MSME units spread across the country. About 55.3% of the MSMEs are based out of rural areas, indicating the deployment of a significant rural workforce in the MSME sector.
Re-implementation of Public Procurement Policy, Pradhan Mantri MUDRA Yojana, Make in India, Startup India, and Skill India initiatives are helping in the growth of the MSME sector in the country.
Key deterrents to the growth of the market
Since most of the castings manufacturing units fall under small and medium enterprises (SMEs), they cannot use advanced technological equipment or automation due to high costs, thus limiting their marketing strength. It is challenging for them to sustain their position in the global marketplace. The inability to meet the domestic demand for castings and to supply quality products to the global market acts as a huge barrier for the industry to grow further.
Companies covered:
1. Ashok Iron Works Pvt. Ltd.
2. Brakes India Pvt. Ltd.
3. DCM Engineering Ltd.
4. Electrosteel Castings Ltd.
5. Hinduja Foundries Ltd.
6. Jayaswal Neco Industries Ltd.
7. Menon and Menon Ltd.
8. Nelcast Ltd.
9. Sanmar Foundries Ltd.
10. Tata Metaliks Ltd.
Customizations available
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Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Foundry market definition
3.2. Foundry process flow
3.3. Types of casting process - overview
Chapter 4: Global foundry market
4.1. Market overview
4.2. Top casting producing countries - volume-wise (2017)
4.3. Top 10 casting producing countries - per plant comparison; volume-wise (2016 and 2017)
4.4. Top gray iron producing countries (2018)
4.5. Top ductile iron producing countries (2018)
4.6. Top malleable iron producing countries (2018)
4.7. Top steel producing countries (2018)
4.8. Product-wise market segmentation (2017)
4.8.1. Gray iron
4.8.2. Ductile iron
4.8.3. Malleable iron
4.8.4. Steel
4.8.5. Copper base
4.8.6. Aluminum
4.8.7. Others
Chapter 5: Foundry market in India
5.1. Market overview
5.2. Production of castings in India and growth forecast – volume-wise (2018-2023e)
5.3. Overview of major foundry clusters in India
Chapter 6: Foundry market in India – segmentation
6.1. Production of castings - volume-wise segmentation (2017)
6.1.1. Gray Iron
6.1.2. Gray iron
6.1.3. Ductile iron
6.1.4. Malleable iron
6.1.5. Steel
6.1.6. Copper base
6.1.7. Aluminum
6.1.8. Others
6.2. Consumption of castings - sector-wise market segmentation (2017)
6.2.1. Automobile
6.2.2. Sanitary ware
6.2.3. Pipes and fittings
6.2.4. Agricultural machinery
6.2.5. Others
Chapter 7: Trade analysis
7.1. Export of foundry
7.1.1. Value-wise
7.1.2. Volume-wise
7.1.3. Country-wise
7.2. Import of foundry
7.2.1. Value-wise
7.2.2. Volume-wise
7.2.3. Country-wise
Chapter 8: Key growth drivers of the market
Chapter 9: Key deterrents to the growth of the market
Chapter 10: Government initiatives
Chapter 11: Growth in other end user segment
11.1. Automotive
11.2. Sanitary ware
11.3. Railway
11.4. Pumps
11.5. Power
11.6. Electrical equipment
11.7. Earth moving equipment
11.8. Machine tools
Chapter 12: Competitive landscape
12.1. Ashok Iron Works Private Limited
12.1.1. Corporate information
12.1.2. Business description
12.1.3. Products and services
12.1.4. Key people
12.1.5. Financial snapshot (total income, net profit/loss)
12.1.6. Key ratios
12.1.7. Key financial performance indicators
12.1.8. Business segments, geographical segments
12.2. Brakes India Private Limited
12.2.1. Corporate information
12.2.2. Business description
12.2.3. Products and services
12.2.4. Key people
12.2.5. Financial snapshot (total income, net profit/loss)
12.2.6. Key ratios
12.2.7. Key financial performance indicators
12.2.8. Business segments, geographical segments
12.3. DCM Engineering Limited
12.3.1. Corporate information
12.3.2. Business description
12.3.3. Products and services
12.3.4. Key people
12.3.5. Financial snapshot (total income, net profit/loss)
12.3.6. Key ratios
12.3.7. Key financial performance indicators
12.3.8. Business segments, geographical segments
12.4. Electrosteel Castings Limited
12.4.1. Corporate information
12.4.2. Business description
12.4.3. Products and services
12.4.4. Key people
12.4.5. Financial snapshot (total income, net profit/loss)
12.4.6. Key ratios
12.4.7. Key financial performance indicators
12.4.8. Business segments, geographical segments
12.5. Hinduja Foundries Limited
12.5.1. Corporate information
12.5.2. Business description
12.5.3. Products and services
12.5.4. Key people
12.5.5. Financial snapshot (total income, net profit/loss)
12.5.6. Key ratios
12.5.7. Key financial performance indicators
12.5.8. Business segments, geographical segments
12.6. Jayaswal Neco Industries Limited
12.6.1. Corporate information
12.6.2. Business description
12.6.3. Products and services
12.6.4. Key people
12.6.5. Financial snapshot (total income, net profit/loss)
12.5.6. Key ratios
12.5.7. Key financial performance indicators
12.6.8. Business segments, geographical segments
12.7. Menon and Menon Limited
12.7.1. Corporate information
12.7.2. Business description
12.7.3. Products and services
12.7.4. Key people
12.7.5. Financial snapshot (total income, net profit/loss)
12.7.6. Key ratios
12.7.7. Key financial performance indicators
12.7.8. Business segments, geographical segments
12.8. Nelcast Limited
12.8.1. Corporate information
12.8.2. Business description
12.8.3. Products and services
12.8.4. Key people
12.8.5. Financial snapshot (total income, net profit/loss)
12.8.6. Key ratios
12.8.7. Key financial performance indicators
12.8.8. Business segments, geographical segments
12.9. Sanmar Foundries Limited
12.9.1. Corporate information
12.9.2. Business description
12.9.3. Products and services
12.9.4. Key people
12.9.5. Financial snapshot (total income, net profit/loss)
12.9.6. Key ratios
12.9.7. Key financial performance indicators
12.9.8. Business segments, geographical segments
12.10. Tata Metaliks Limited
12.10.1. Corporate information
12.10.2. Business description
12.10.3. Products and services
12.10.4. Key people
12.10.5. Financial snapshot (total income, net profit/loss)
12.10.6. Key ratios
12.10.7. Key financial performance indicators
12.10.8. Business segments, geographical segments
Appendix
1. Research methodology
2. About Research on Global Markets
Research Methodology
The research study released with title "Foundry Market in India 2017 with data on Metal Castings Production and Consumption for Automobile, Sanitary Ware, Pipes and Fittings, Agricultural Machinery and Others" involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Key Executives Interviewed
Research Programs/Design
| Historical Data (2017-2022E) |
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Market Size Estimation
Top-down and bottom-up approaches are used to validate and estimate the global/regional market size by manufacturers, regional splits, product segments and application.
To establish Research coverage of the study with most relevant & functional players HTF MI follows industry standards such as NAICS/SIC/ICB/TRCB, furthermore the sorted list of companies is validated using Product Mapping and business activities and shortlisted by industry perspective.
HTF MI select experienced analyst and associate that are specialized in the domain for conducting research. They prepare a list of companies by region that helps to understand players penetration rate in the market. This companies are further analyses in what segment or application they serve in our market. The list of product and applications are evaluated for each companies dealing in the Foundry Market in India 2017 with data on Metal Castings Production. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand company’s positioning regarding market value, volume and their market share for regional as well as global. Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Online) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc from Foundry Market in India 2017 with data on Metal Castings Production who then work towards appointment generation.
Primary Data Collection
The primary research is performed by taking the interviews of executives of various companies dealing in the Foundry Market in India 2017 with data on Metal Castings Production as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and relevant list of appointee or target primary respondents; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & In Mail, Community Forums, Open Survey, SurveyMonkey etc.
Secondary Sources
The secondary resources considered in the Foundry Market in India 2017 with data on Metal Castings Production study includes company annual reports, press releases, published articles of organizations and associations, and the survey taken through different mediums such as online website and forums, survey monkey, LinkedIn, etc. In addition, the valuable strategic information obtained from industry association, paid database, and investor presentations are also good tool for information to make appropriate iterative validation are used to modify market models and cross-verify primary research and insights.
Market Breakdown and Data Triangulation
To make market engineering data complete; extensive primary research is conducted to gather information and validate the critical numbers derived to be used for calculations of market statistics; market size estimations; forecasting; breakdown; and data triangulation. Both top-down and bottom-up approaches were applied, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Furthermore qualitative and further quantitative analysis is also done for all the numbers arrived at in the market estimation process to list relevant information in the final deliverable report "Foundry Market in India 2017 with data on Metal Castings Production and Consumption for Automobile, Sanitary Ware, Pipes and Fittings, Agricultural Machinery and Others" .
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Key Information from Primary Sources
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| 1-User Access | The report is sent in PDF format. The report will be emailed to you. | This is a single user access license, allowing one specific user to access the report. |
| Site User | The study would be provided in PDF format. The report will be emailed to you. | This is a site license, allowing 1-10 employees within your organisation to access the report. |
| Enterprise User | The format of deliverable would be PDF and Excel. | This is an enterprise or corporate license, allowing all employees within your organisation irrespective of geographic location to access the report. |
