Newark, NJ, Aug. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global metal casing market is expected to grow from USD 40.45 billion in 2020 and to reach USD 51.32 billion by 2028, growing at a CAGR of 4.2% during the forecast period 2021-2028.
The metal casing market is witnessing significant growth in the past years. This growth is attributed to the rising demand for tablet and laptops because of the benefits of metal over plastic in the construction of casing for electronics items. The introduction of various PC industries, such as HP, Lenovo, Dell, Apple Inc., and Asus, continued to maintain their sales, which is a positive sign for the market growth. The growing adoption of premium look, modernity & simplicity in manufacturing products helps in keeping the consumers toward the metal body in phones will influence the market.
Metal Casing is used as an external component used in different applications, such as phone, laptop, tablet and notebook. It is used in practical electronic devices, including smartphones, notebooks, notepads and wearable devices such as smart watch, Bluetooth and fitness tracker. Metal casing and covers come in different styles and designs to suit other preferences and individual phones. The metal case is trending in the industry of smartphones, notebooks, notepads and wearables. Many consumers are attracted primarily by the look and design of the instrument in use, then by the underlying technology. Also, different types of cases are available such as polycarbonate cases, plastic cases, leather cases, etc. But, due to the increase in consumer purchasing power and the demand for smartphones with a metallic finish and durability, large companies such as Samsung, Huawei, HTC and Sony have adopted the metal case for the production of smartphones, notebooks, etc. The global metal casing market is expected to witness significant growth, owing to increasing benefits of metal over plastic in the construction of casing for mobile phones, tablets, movable power sources, notebooks, laptops, and other wearable devices which increased the smartphones and other product sales by end-users and factors such as premium appearance, modernity and simplicity in manufacturing and heat dissipation have shifted the preferences of manufacturers and consumers towards the metal body of the phones. The factors restraining the market growth are declining demand for metal casing by the customers for electronics item like mobile phones, laptops, tablets. Smartphone industries will provide market growth opportunities in future.
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Key players operating in global metal casing market include CATCHER, Foxconn Technology, Co., Ltd., Waffer Technology Corp., PEGATRON Corporation, BYD Company Ltd., and Castek Holdings Corp. These market players have faced several issues like weak consumer demand, low wages, and income inequality with increasing competition from the red supply chain. So to gain a significant market share in the global metal casing market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
Stamping and MIM segment dominated the market and held the largest market share of 91.9% in the year 2020
On the basis of product, the global metal casing market is segmented into Stamping & MIM, Die Casting, and Extrusion. Stamping & MIM segment dominated the market and held the largest market share of 91.9% in the year 2020. This growth is attributed to the rising faster speed, less cost, and ability to manufacture large quantities. Moreover, it delivers high tolerance, electrical conductivity, corrosion resistance, and smooth finish which helped it to gain popularity.
Mobile Phones segment dominated the market and held the largest market share of 52.15% in the year 2020
On the basis of product, the global metal casing market is segmented into mobile phones, tablet, wearable devices, and movable power sources. Mobile Phones segment dominated the market and held the largest market share of 52.15% in the year 2020. This growth is attributed to the increasing demand for eco-friendly, slim, and multi-functional smartphones which fulfil the demand of end-users as these casings provide high tensile strength, high ventilation efficiency, and enhanced aesthetic appeal. The global pandemic COVID-19 accelerated the demand of these devices as there was a surge in the adoption of e-learning across educational institutes and various other official institutions.
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Regional Segment of Metal Casing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global metal casing market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share of 60.3% in the year 2020. This growth is ascertained by the Asia-Pacific region owing to rising demand for smartphones and other electronics devices in the country. Asia Pacific market companies are focusing on setting up their plants in Southeast Asian countries and India for more positive impact on the industry. The market in North America is expected to witness significant growth, owing to presence of large number of PC manufacturers in the region like Dell, Hewlett-Packard or HP, and Apple Inc. The Africa region is witnessing significant growth in the Middle East, by introducing Tecno Mobile, one of the largest smartphone manufacturers in Africa, to increase its market share in the Middle East.
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About the report:
The global metal casing market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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