Automotive Diecast Scale Model Market Report Overview
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global automotive diecast scale model market size was USD 3633.9 million in 2022 and market is projected to touch USD 5220.11 million by 2031 at CAGR 4.1% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, with the automotive diecast scale model market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
A diecast scale model of an automobile is a small recreation that is typically offered as a collectable item. They are frequently made in small quantities by specialised producers and can be rather expensive. A scale diecast automobile is a toy or collector model of a car created with die-casting technology, which involves pouring molten lead or zinc alloy into a mould to achieve a certain shape. Collector's items, such as scale diecast vehicle models, can be one-of-a-kind or limited-edition. The exclusivity and value of a model are enhanced further by a scarcity of supply or unavailability of shipment. The emergence of several collectors groups all over the world has resulted in an increase in demand for scale diecast autos. During the projection period, die-cast toy demand is likely to be driven by the high resale value of collectable die-cast scale models. Consumer spending is predicted to increase significantly during the forecast period, driving up demand for die-cast toys.
Some of the primary reasons driving the growth of this market are the increasing popularity of collectable automobiles and the growing interest in replica versions. Other reasons driving this increase include technological advancements in production processes and rising consumer demand for high-quality items across geographies. During the projection period, the collector's sector is expected to account for the bulk of market share. Factors such as a growing population, changing lifestyles, and rising disposable income of consumers have all contributed to an increase in demand for luxury vehicles, especially diecast replicas.
COVID-19 Impact: Emergence of COVID-19 has lowered the production and supply chain hence hindered market growth
The COVID-19 pandemic had a substantial impact on manufacturing operations due to supply chain interruptions and trade restrictions around the world, and the market experienced a downturn. COVID-19 is a global public health emergency that has affected practically every industry, and the long-term effects are expected to have an impact on the growth of many end-use industries during the forecast period. This current research expands the research framework to include fundamental COVID-19 concerns and potential next steps. The paper provides insights on COVID-19, taking into account changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and important government initiatives. The report's devoted part presents a detailed study of the impact of COVID-19 and its succeeding variant outbreaks on demand, supply, price, and vendor uptake, as well as recommendations for long-term outcomes.
Latest Trends
"Preservation and eventual revival of heritage models to boost sales of diecast scale models "
Automobile manufacturers are working on the development of long-lasting, lightweight, and cost-effective high-tensile chassis frames and durable automotive parts, which is likely to open up attractive business prospects for both big companies and new market entrants. Automotive die casting is also employed in electric vehicles (EVs) due to its lightweight, which is projected to give significant chances for worldwide market players. A significant trend in market growth is the preservation and eventual revival of heritage models to boost sales of diecast scale models to car enthusiasts. The legacy models are old cars that are presumably on their way to the junkyard. However, in a few decades, if not decades, these cars will still be alive and will outlive some of their more current generations. These vintage vehicles are typically stored in partially disassembled states all year, with most perishable and semi-perishable components, such as tyres, separately packed and the various fluids and fuel adequately drained. Collector clubs provide some benefit, but the expenditures may need to be covered by outside interventions such as crowdfunding.
Automotive Diecast Scale Model Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into collectors, non-collectors. Collectors are anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into passenger car, commercial vehicle. Passenger Car will be the dominating segment.
Driving Factors
"Rising applications in different industries fueling market expansion"
To reduce pollutants and enhance fuel efficiency, the EPA requires manufacturers to use lightweight nonferrous metals. This has enabled automakers to cut car weight by using lightweight non-ferrous metals. Aluminium is in high demand for creating vehicle scale diecast components due to its lightweight, good performance, recyclability, and low cost. Furthermore, numerous aluminium alloys are used as sheets in automobiles, particularly luxury vehicles. Leading industry rivals have made numerous technological breakthroughs to improve the strength and efficiency of die-cast components while conforming to tight EPA criteria. As a result, the use of scale diecast parts as a weight-reduction strategy is a key driver of market growth. In 2019, the passenger car sector dominated the global automotive diecast scale model market, accounting for more than 60.0% of total revenue. Due to heightened interest from collectors and enthusiasts, demand is often higher in big cities of a country than in rural areas. Furthermore, rising disposable income levels have boosted the expansion of this market. During this time, the commercial vehicle segment is predicted to increase the most.
"Collector clubs drive sales of diecast scale models leading market expansion"
Collector clubs, which drive sales of diecast scale models, are driving market expansion. Collector clubs all over the world endeavour to research and promote scale automobile model collectibles. Collector clubs also host model display events and auctions where like-minded enthusiasts can meet, exchange information, and do business. When there are members-only access groups, enthusiasts can capitalise on the unique nature of collecting automotive diecast scale models. However, as tenures increase, new members become more prominent, therefore a typical member's influence is determined by the number of contacts formed within and beyond club walls. Because these clubs play an important part in both beer consumption and the hobby of collecting diecast car scale models, the successful development of such clubs or their overseas/out-of-home chapters provides a greater dedicated consumer base for diecast scale models. As a result, the sale possibilities of automobile diecast scale models will improve, promoting market expansion throughout the forecast period.
Restraining Factors
"Influence of counterfeit models on sales of automotive diecast scale models may hamper market growth"
The influence of counterfeit models on sales of automotive diecast scale models is a key commercial challenge. Genuine diecast scale model collectors who have been duped by counterfeit products are wary of the entire market, which harms the diecast scale model industry. Counterfeits uncovered by collectors during screenings will degrade the market's image and lower total sales. However, as global economic activity resumes, the worldwide market is predicted to develop steadily over the forecast period.
Automotive Diecast Scale Model Market Regional Insights
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"Asia Pacific is predicted to be the fastest-growing region during forecast period"
From 2022 to 2031, Asia Pacific is predicted to be the fastest-growing region, with a CAGR. In recent years, the region has seen an increase in diecast model sales due to reasons such as increased buyer interest in scale model automobiles and rising disposable income, particularly in developing countries such as China and India. Furthermore, the existence of manufacturers offering low-cost diecast items will continue to draw purchasers over the forecast period. North America accounted for more than 25% of the global automotive diecast scale model sales market by volume in 2019 due to strong demand from the United States, which is a prominent market for collector toys and games as well as replicas such as Scale Model Automobile (SMAs).
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Amalgam (U.S.)
- AUTOart (Germany)
- Automodello (U.S.)
- Maisto (U.S.)
- Bburago (U.S.)
- GreenLight Collectibles (U.S.)
- Hot Wheels (U.S.)
- Corgi (U.K.)
- Minichamps (Germany)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 3633.9 Million in 2022 |
Market Size Value By |
US$ 5220.11 Million by 2031 |
Growth Rate |
CAGR of 4.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the Automotive Diecast Scale Model Market expected to touch by 2031?
Based on our research the Automotive Diecast Scale Model market is expected to reach USD 5220.11 million in 2031.
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What CAGR is the Automotive Diecast Scale Model Market expected to exhibit by 2031?
The Automotive Diecast Scale Model market is expected to exhibit a CAGR of 4.1% by 2031.
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Which are the driving factors of the Automotive Diecast Scale Model Market?
The sale possibilities of automobile diecast scale models will improve, promoting market expansion throughout the forecast period.
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Which are the top companies operating in the Automotive Diecast Scale Model Market?
The top key players in the Automotive Diecast Scale Model market are Amalgam, AUTOart, Automodello, Maisto, Bburago, GreenLight Collectibles, Hot Wheels, Corgi, Minichamps.