North America Report Breakdown:
• Vehicle output is strong • Passenger travel up • EV adoption rising
Investment castings remain
essential for EV drivetrain components, turbocharger parts, and thermal management systems.
General Industry General Industry showed growth in several key areas:
Industrial Production: Annualized
rates improved year over year from 2020 to 2024. Month-to-month industrial growth in 2023 vs. 2024 was also positive. Firearms: U.S. firearm production across categories (pistols, revolvers, rifles, shotguns, and miscellaneous) remained robust from 2021–2024. Oil & Gas: North American rig
counts showed a strong CAGR from 2020–2024.
While regional growth
varied (Europe, APAC, Middle East), key metrics—including crude oil production, gas production, and casting demand—rose year over year. WTI spot prices and average pump prices tracked upward as well. Orthopedic
Implants: Industry
trends were positive in 2024, with strong growth forecasts into 2025. Demand for cast orthopedic components— especially knees—is expected to remain elevated through 2027. Medium & Heavy Truck Assemblies:
Moderate growth continues, with positive CAGR figures in 2024 and further expansion forecast for 2025.
Market Forces & Policy Impacts 2024 was another year of policy whiplash, particularly around tariffs. Announcements, reversals, and reim- positions kept manufacturers on edge and led many to renegotiate shipping
Continued on pg 28 April 2025 ❘ 27 ®
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