The foundry market in India is expected to increase by $ 12.23 billion between 2021 and 2025, with a CAGR of more than 10% during that time period, according to the publisher. The study on the Indian foundry market includes a comprehensive analysis, market size and forecasts, trends, growth drivers, and obstacles, as well as a vendor analysis of approximately 25 suppliers.

Automation, machine learning, and analytics are becoming increasingly important to foundries. The advantages of these technologies, such as streamlining the manufacturing process and improving yield without sacrificing quality, are driving demand. Vendors are likely to take on more manufacturing contracts as a result of the increased production capacity and lower prices, resulting in significantly higher supply and filling shortfall gaps in numerous industries.

Per World Energy, worldwide electric car sales surpassed 2.1 million in 2019, exceeding 2018 – which was already a record year – to bring the total stock to 7.2 million. China has reached a slowing phase after becoming one of the main markets for plug-in light car sales. Meanwhile, sales of electric vehicles in Europe’s five major markets increased dramatically in 2020. Due to a combination of regulatory and incentive reforms, Germany may become the largest market for plug-in electric automobiles.