Automotive Mold Market Key Business, Drivers & Forecast

Automotive Mold Market Dynamics, Competitive Forces & Strategic Pathways

The automotive mold market is anticipated to grow from USD 48.13 billion in 2025 to USD 82.35 billion by 2034, with a compound annual growth rate (CAGR) of 6.15% during the forecast period from 2025 to 2034.

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Introduction

The automotive mold market is a prominent segment of the automotive manufacturing industry. This industry deals in developing molding solutions for the automotive sector. There are several technologies developed in this industry consisting of injection mold, casting mold, compression mold and some others. These molding technologies are used for molding interior parts and exterior parts of automotives. It finds application in various types of vehicles including heavy trucks, light commercial vehicles, passenger cars and some others. The growing demand for commercial vehicles has driven the industrial expansion across the world. This market is projected to rise drastically with the growth of the automotive components industry around the globe.

• According to the International Organization of Motor Vehicle Manufacturers, around 145602 commercial vehicles were sold in 2022 that increased to 178509 in 2023.

Highlights of the Automotive Mold Market

• Asia Pacific held the dominant share of the automotive mold market due to the growing demand for passenger cars in this region.
• Europe is expected to grow with a significant CAGR due to the rising demand for high-quality automotive parts in this region.
• The passenger cars segment dominated the market due to the increasing disposable of the people.
• The exterior parts segment led the industry due to upsurge in demand for commercial vehicles across the globe.

Automotive Mold: Stats and Figures

• According to the ACMAI, the Indian automotive component industry generated a revenue of US$ 74.1 billion in 2024.
• According to the Malaysian Automotive Association, about 719,160 passenger cars were sold in Malaysia during 2023.
• According to the Australasian Fleet Management Association, the global sales of light vehicles in 2024 was 81.5 million.

Industry Leader Announcement

In October 2024, Cameron Moore, the general manager of regional operations at Fictiv announced that, ” Having been involved with injection molding for over 25 years, I’ve seen the evolution of manufacturing software. Fictiv’s automated DFM tools are instant, free, and built to make the design process faster and smoother for our customers.”

Regional Insights

Asia Pacific held the largest share of the automotive mold market. The rising demand for passenger cars has boosted the market growth in this region. Moreover, the rapid investment by automotive companies for integrating advanced molding technologies along with rapid adoption of EVs has fostered the industrial expansion in this region.

China is the major contributor of this region. In China, the market is generally driven by the increasing sales and production of automotives along with availability of raw materials required for molding. Additionally, several molding companies have started opening new plants for manufacturing automotive parts has further contributed to the market growth.

Competitive Landscape

The automotive mold market is a highly competitive industry with the presence of numerous dominant players. Some of the prominent companies in this industry comprises of Chief Mold USA, Flight Mold and Engineering, Alpine Mold Engineering Limited, Amtek Plastics UK, Gud Mould Industry Co. Ltd and some others. These market players are constantly engaged in developing advanced molding technologies for automotive sector and adopting various strategies to maintain their dominant position in this industry.

• According to the annual report of Magna, the revenue of the company from North American region was US$ 18911 million in 2022 that increased to US$ 20722 million in 2023.

Market Segmentations

By Technologies

• Casting Mold
• Injection Mold
• Compression Mold
• Others

By Application

• Exterior Parts
• Interior Parts

By Vehicle Types

• Passenger Car
• Light Commercial Vehicle
• Heavy Trucks

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa