The Business Research Company’s latest report Foundries Market Report 2020 covers Foundries market drivers, Foundries market trends, Foundries market segments, Foundries market growth rate, Foundries market major players, and Foundries market size. The report provides in-depth analysis of the impact of COVID-19 on the Foundries industry, along with revised market numbers due to the effects of the coronavirus.
Foundries Market Report 2020 is the most comprehensive report available on this market and will help gain a truly perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The foundries market is expected to decline from $202 billion in 2019 to $173.3 billion in 2020 at a compound annual growth rate (CAGR) of -14.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $201.1 billion in 2023.
The report covers the Foundries market’s segments-
1) By Type: Ferrous Metal Foundries, Nonferrous Metal Foundries
2) By Application: Automobile, Pipes & Fittings, Agricultural Machinery, Electrical Equipment, Machine Tools, Others.
Subsegments Covered: Iron Foundries, Steel Foundries, Nonferrous Metal Die-Casting Foundries, Aluminum Foundries (except Die-Casting), Other Nonferrous Metal Foundries (except Die-Casting).
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