Market Overview:
The global forging market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the forging market is mainly driven by the increasing demand for forged parts from the automotive and aerospace industries. The global forging market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into closed die forgings, open die forgings, and rolled rings forgings. Closed die forgings are further classified into impression-die forgings and hammer-die forgings. Open die forgings are further classified into drop-forge operations and press operations. Rolled rings forge are made up of a single piece or multiple pieces that have been joined together through rolling processes while hot or cold working them over dies with radial symmetry about their axes; these products find extensive use in sectors such as automotive (engine blocks), aerospace (turbine blades), general industrial applications (bearings), agricultural equipment (pulleys) among others). Based on application, the global forging market can be segmented into automotive industry, aerospace industry,, general industrial applications,, agricultural equipment among others). The automotive sector accounts for a major share ofthe overall forged products demand due to stringent government regulations mandating use high-strength lightweight components in vehicles. In terms of region,.
Product Definition:
The process of forging metal involves heating the metal to a very high temperature and then pounding it into shape. The importance of forging is that it can create stronger metals than can be created by casting or machining.
Closed Die Forgings:
Closed die forgings are used in the forging industry to produce heavy plate and sheet metal parts. These products have a number of advantages over open die forgings, which include high strength and rigidity resulting into improved performance. The growth factor for closed die forgings is that it can produce higher quality forged products with less wastage as compared to open dies.
Open Die Forgings:
Open die forgings are used in the forging industry to produce steel with high yield strength and improved properties. The material is subjected to extreme pressure and temperature during the process of making, which leads to different physical as well as chemical changes in it. These changes are controlled by controlling the pressure and temperature at which open die forgings operate.
Application Insights:
The automotive segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. The growth of this segment can be attributed to increasing demand for vehicles from countries, such as China, India and Japan. These countries are leading in terms of production as well as consumption of automobiles which has resulted in high demand for forged parts across the globe.
Aerospace is another key application sector where forged parts are used on a large scale due to their lightweight properties and ability to withstand extreme temperatures without deforming or wearing out. In addition, they exhibit low friction coefficient resulting in longer life expectancy compared to machined or cast counterparts. Other applications include agricultural equipment & machinery, general industrial machinery & tools etcetera.
Regional Analysis:
Asia Pacific dominated the global forging market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Vietnam. These countries are witnessing strong economic growth owing to increasing industrial activities across a broad range of industries. This trend is projected to continue over the coming years which will have a positive impact on market growth in Asia Pacific region.
The automotive industry has witnessed significant developments in recent years with an increase in production capacities of premium cars by key manufacturers such as BMW Group, Ford Motor Company and Volkswagen Group (Volkswagen). This trend is likely to drive demand for forged parts used for manufacturing engine blocks and other components required during vehicle assembly operations at various plants across these countries thereby driving regional demand for forging products over the forecast period.
Growth Factors:
- Increasing demand from the automotive and aerospace industries for high-quality forgings that meet stringent performance requirements.
- Growing popularity of forged components in lightweight construction applications to reduce weight and improve fuel efficiency.
- Rising demand for customized forgings to meet specific customer requirements.
- Proliferation of advanced manufacturing technologies that facilitate the production of high-quality forgings with reduced lead times and lower costs.
- Expansion of forging capacity by existing players as well as new entrants to cater to the increasing demand from end-use industries
Scope Of The Report
Report Attributes
Report Details
Report Title
Forging Market Research Report
By Type
Closed Die Forgings, Open Die Forgings, Rolled Rings Forgings
By Application
Automotive, Aerospace, Agricultural, General Industrial, Other
By Companies
Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge, KOBELCO, WanXiang, FAW, Arconic, Mahindra Forgings Europe, Farinia, Longcheng Forging, Sinotruck, Dongfeng Forging, Jiangsu Pacific Precision Forging, Sypris Solutions, Ashok Leyland, Allegheny Technologies, VDM Metals, CITIC Heavy Industries
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
213
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Forging Market Report Segments:
The global Forging market is segmented on the basis of:
Types
Closed Die Forgings, Open Die Forgings, Rolled Rings Forgings
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Aerospace, Agricultural, General Industrial, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nippon Steel & Sumitomo Metal
- Aichi Steel
- Thyssenkrupp
- AAM
- Bharat Forge
- KOBELCO
- WanXiang
- FAW
- Arconic
- Mahindra Forgings Europe
- Farinia
- Longcheng Forging
- Sinotruck
- Dongfeng Forging
- Jiangsu Pacific Precision Forging
- Sypris Solutions
- Ashok Leyland
- Allegheny Technologies
- VDM Metals
- CITIC Heavy Industries
Highlights of The Forging Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Closed Die Forgings
- Open Die Forgings
- Rolled Rings Forgings
- By Application:
- Automotive
- Aerospace
- Agricultural
- General Industrial
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Forging Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Forging is the process of creating a new object from two or more preexisting objects. The term can refer to both metalworking and nonmetalworking processes. In metalworking, forging is used to create pieces from sheets of metal by heating them until they become malleable and then hammering them into shape. In nonmetalworking, forging can refer to the creation of objects such as pottery ornaments out of clay by heating it until it becomes pliable and then shaping it with a tool.
Some of the major players in the forging market are Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge, KOBELCO, WanXiang, FAW, Arconic, Mahindra Forgings Europe, Farinia, Longcheng Forging, Sinotruck, Dongfeng Forging, Jiangsu Pacific Precision Forging, Sypris Solutions, Ashok Leyland, Allegheny Technologies, VDM Metals, CITIC Heavy Industries.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Forging Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Forging Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Forging Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Forging Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Forging Market Size & Forecast, 2020-2028
4.5.1 Forging Market Size and Y-o-Y Growth
4.5.2 Forging Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Closed Die Forgings
5.2.2 Open Die Forgings
5.2.3 Rolled Rings Forgings
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Aerospace
6.2.3 Agricultural
6.2.4 General Industrial
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Forging Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Forging Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Closed Die Forgings
9.6.2 Open Die Forgings
9.6.3 Rolled Rings Forgings
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Aerospace
9.10.3 Agricultural
9.10.4 General Industrial
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Closed Die Forgings
10.6.2 Open Die Forgings
10.6.3 Rolled Rings Forgings
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Aerospace
10.10.3 Agricultural
10.10.4 General Industrial
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Closed Die Forgings
11.6.2 Open Die Forgings
11.6.3 Rolled Rings Forgings
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Aerospace
11.10.3 Agricultural
11.10.4 General Industrial
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Closed Die Forgings
12.6.2 Open Die Forgings
12.6.3 Rolled Rings Forgings
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Aerospace
12.10.3 Agricultural
12.10.4 General Industrial
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Closed Die Forgings
13.6.2 Open Die Forgings
13.6.3 Rolled Rings Forgings
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Aerospace
13.10.3 Agricultural
13.10.4 General Industrial
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Forging Market: Competitive Dashboard
14.2 Global Forging Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Nippon Steel & Sumitomo Metal
14.3.2 Aichi Steel
14.3.3 Thyssenkrupp
14.3.4 AAM
14.3.5 Bharat Forge
14.3.6 KOBELCO
14.3.7 WanXiang
14.3.8 FAW
14.3.9 Arconic
14.3.10 Mahindra Forgings Europe
14.3.11 Farinia
14.3.12 Longcheng Forging
14.3.13 Sinotruck
14.3.14 Dongfeng Forging
14.3.15 Jiangsu Pacific Precision Forging
14.3.16 Sypris Solutions
14.3.17 Ashok Leyland
14.3.18 Allegheny Technologies
14.3.19 VDM Metals
14.3.20 CITIC Heavy Industries
