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Global Forging Market to reach USD 110.84 billion by 2025.Global Forging Market valued approximately USD 67.88 billion in 2017 is anticipated to grow with a healthy growth rate of more than 6.32% over the forecast period 2019-2025. The major driving factor of global forging market are growing automotive industry, rising investment in the renewable energy, high strength metal components and cost effective method of metal forming.
The Major Market Player Included In This Report Are:
- Aichi Forge
- ATI (Allegheny Technologies Incorporated)
- Bharat Forge Ltd
- NIPPON STEEL & SUMIKIN BUSSAN AMERICAS, INC.
- thyssenkrupp Steel
- AAM – American Axle & Manufacturing
- Ellwood City Forge Group
- Precision Castparts
- Frisa Forjados
- HHI Forging
- General Dynamics Ordnance and Tactical Systems
- Scot Forge
- Sypris Electronics, LLC
- Special Metals
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The major restraining factor of global forging market are increasing usage of casting or stamping process, rising demand for plastics as substitute and environmental rules & regulation and availability of light materials for automotive manufacturing. Forging refers to a process of shaping the material by applying compressive force manually by forging machines or with the use of power hammers. These forged parts include bolts, connecting rods, turbine shafts, crane hooks, hand tools, gears, and other components used in machine manufacturing. Forging process can be carried out on materials in either cold or hot state. Forgings can target a lower total cost compared to casting or fabrication. Hot forging prevents the work hardening that would result from cold forging which would increase the difficulty of performing secondary machining operations on the piece. When metal is shaped during the forging process, its internal grain texture deforms to follow the general shape of the part.
The regional analysis of Global Forging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific has accounted the leading share with 55% in 2017 of total generating revenue across the globe due to rapid rise of construction and automotive industries in the region and continuously growing over the coming years. Europe is also contributing major share in the global market of Forging. North American region is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to large number of global players in the region.
Global Forging Market: Product Segment Analysis
- Rolled Rings
- Open Die
- Impression Die
Global Forging Market: Application Segment Analysis
- Automotive Industry
- Aerospace Industry
- Oil & Gas industry
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Table of Contents: Forging Market
Chapter 1. Executive Summary
Chapter 2. Forging Market Definition and Scope
Chapter 3. Forging Market Dynamics
Chapter 4. Forging Market Industry Analysis
Chapter 5. Forging Market, by Product
Chapter 6. Forging Market, by Application
Chapter 7. Forging Market, by Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Research Process
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Target Audience of the Global Forging Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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