China's booming automotive industry, significantly affecting the casting industry, to auto part casting market, for example, at present, China's motor vehicle ownership has reached 327 million, but the market is far from saturated, it is expected to increase to 600 million in the next 10 to 15 years. This growth will drive a huge demand for castings for automotive maintenance and new car manufacturing.
For the automotive repair market, about 10% of vehicles need to be repaired each year, and each vehicle requires about 200 kg of castings for repair, with an annual demand of up to 6 million tonnes, and this market will continue to expand as the total number of vehicles increases.
China's car sales in 2018 was 28 million, of which wheel castings accounted for about 15% of the total weight of the vehicle. Based on this proportion, the annual demand for new car castings is estimated to be between 4.5 million and 6 million tonnes. However, with the popularity of new energy vehicles, the demand for traditional engine and exhaust castings will decrease, but the overall automotive castings market still has room for growth, and it is expected that the limit of the amount of about 15 million tonnes.
In the face of the future market, casting enterprises need to be vigilant about the crisis brought about by blind expansion. auto casting machine production mechanisation, high degree of intelligence, the ability to expand production, but the market demand is changing rapidly, the need for careful planning. At the same time, government policy and bank financial support is also an important driver of expansion, but enterprises should be rational, to avoid excessive expansion.
In addition, casting enterprises also need to pay attention to the development trend of new energy vehicles, adjust the product structure to adapt to changes in market demand. Overcome these factors, with the correct concept of enterprise development and big data to guide the future of the enterprise, I believe that the prospects for automotive supporting foundry is still very promising. May China's economy be better, and may the foundry enterprise be better tomorrow.