2014-01-29 03:15:02 - Steel Casting in the UK - Industry Market Research Report - a new market research report on companiesandmarkets.com
The economic downturn of 2008 induced budgetary belt-tightening in the face of financial insecurity. Households spent less and demand for manufactured items plummeted. This was bad news for steel casters, as any engineered products incorporate steel castings into their design. Automobiles, engines, pumps and tools, all of these incorporate steel cast fittings. Less demand for these finished products means less need for the steel castings that are used in their manufacture.
Reduced construction activity also squeezed industry revenue. Steel cast components are used in a range of applications by the building sector. These include ventilation shafts and structural support to water and waste piping and valves. Luckily for steel casters, demand for their products quickly strengthened, and revenue growth returned. Automobile
markets recovered in 2011-12, resulting in an uptick in vehicle manufacture.
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