Market Overview:
The global open die forging market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for forged parts from various end-use industries, such as automotive, aerospace, agricultural and general industrial sectors. In terms of type, the steel segment is expected to dominate the global open die forging market during the forecast period owing to its high strength-to-weight ratio and corrosion resistance properties. However, aluminum is projected to be one of the fastest growing segments in terms of volume due its low weight and good thermal conductivity properties. Regionally, Asia Pacific is estimated to account for majority share in terms of revenue in 2018 and it is also projected to be one of the fastest growing regions during the forecast period.
Product Definition:
Open Die Forging is a manufacturing process where a metal blank is heated and then shaped using a hammer or press. Open die forging can be used to create nearly any shape, and it's important because it results in high-quality parts with no seams or weak points.
Steel:
Steel is a metal alloy of iron and other metals, which can be cold-rolled or hot-rolled to make it suitable for different applications. It has various grades depending on the amount of carbon, manganese, silicon, etc., that are added during its manufacturing process. The most commonly used steel in the automotive industry is carbon steel due to its high strength and durability.
The global open die forging market size was valued at USD 648 million in 2016.
Aluminum:
Aluminum is a metal and has the highest melting point of any element. It is soft and ductile, but stronger than steel or other metals. Aluminum alloys are widely used in aircraft, automobiles, machinery, household products (such as kitchenware), packaging materials (boxes), etc. The aluminum industry includes both primary production and secondary production processes.
Application Insights:
The automotive application segment accounted for the largest revenue share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing production capacities in China, U.S., Brazil, Japan and Germany by major players such as Toyota Motor Corporation, General Motors Company LLC, Volkswagen AG; Daimler AG; Hyundai Motor Co.; Mitsubishi Heavy Industrial Limited; Ford Motor Company LLC and Peugeot S.A.
The aerospace application segment is expected to witness significant growth over the forecast period owing to surging demand from commercial aviation sector including air taxi/charter services as well as scheduled & non-scheduled commercial airliners operated by major airlines around the world including American Airlines Group Inc., British Airways PLC, Air France SNCF Group; Delta Air Lines Inc., Finnair Ltd., Alitalia ltaliaanse Lufthansa GmbH among others.
Regional Analysis:
Asia Pacific dominated the global open die forging market in 2016 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in 2016 owing to high demand from automotive, aerospace and other applications. China is one of the largest producers as well as consumers of forged parts across various industries due to presence of numerous OEMs located in this country.
The European market also held a significant share in terms of volume, which indicates growing demand for forged products from end-use industries such as automotive, industrial machinery and others across Europe.
Growth Factors:
- Increasing demand for lightweight and high-strength materials in automotive and aerospace industries
- Growing popularity of open die forging among small- and medium-sized enterprises (SMEs) due to its advantages over other manufacturing processes
- Rising investments in research and development (R&D) activities for the development of innovative forging technologies
- Proliferation of advanced manufacturing techniques such as 3D printing that are helping to improve the efficiency and quality of open die forgings
- Growing demand from emerging economies such as China, India, Brazil, etc., for high-quality forged components
Scope Of The Report
Report Attributes
Report Details
Report Title
Open Die Forging Market Research Report
By Type
Steel, Aluminum, Alloy
By Application
Automotive, Aerospace, Agricultural, General Industrial, Other
By Companies
Precision Castparts Corp, Eramet Group, Bharat Forge Limited, ELLWOOD Group, Scot Forge, FRISA, Lucchini Mame Forge, Sheffield Forgemasters, WHEMCO, Forged Components, Precision Castparts Corp, Rosswag GmbH, Eastham Forge
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
201
Number of Tables & Figures
141
Customization Available
Yes, the report can be customized as per your need.
Global Open Die Forging Market Report Segments:
The global Open Die Forging market is segmented on the basis of:
Types
Steel, Aluminum, Alloy
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:
- Precision Castparts Corp
- Eramet Group
- Bharat Forge Limited
- ELLWOOD Group
- Scot Forge
- FRISA
- Lucchini Mame Forge
- Sheffield Forgemasters
- WHEMCO
- Forged Components
- Precision Castparts Corp
- Rosswag GmbH
- Eastham Forge
Highlights of The Open Die 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:
- Steel
- Aluminum
- Alloy
- 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 Open Die 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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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?
Open die forging is a type of metalworking that uses a forge with an open hearth. The molten metal is poured into the forge, where it is heated until it reaches its desired temperature and then forced out of the forge through an opening in the bottom.
Some of the major companies in the open die forging market are Precision Castparts Corp, Eramet Group, Bharat Forge Limited, ELLWOOD Group, Scot Forge, FRISA, Lucchini Mame Forge, Sheffield Forgemasters, WHEMCO, Forged Components, Precision Castparts Corp, Rosswag GmbH, Eastham Forge.
The open die forging market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Open Die 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 Open Die Forging Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Open Die 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 Open Die 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 Open Die Forging Market Size & Forecast, 2018-2028 4.5.1 Open Die Forging Market Size and Y-o-Y Growth 4.5.2 Open Die Forging Market Absolute $ Opportunity
Chapter 5 Global Open Die Forging 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 Open Die Forging Market Size Forecast by Type
5.2.1 Steel
5.2.2 Aluminum
5.2.3 Alloy
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Open Die Forging 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 Open Die Forging 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 Open Die 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 Open Die 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 Open Die Forging Analysis and Forecast
9.1 Introduction
9.2 North America Open Die Forging 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 Open Die Forging Market Size Forecast by Type
9.6.1 Steel
9.6.2 Aluminum
9.6.3 Alloy
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 Open Die Forging 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 Open Die Forging Analysis and Forecast
10.1 Introduction
10.2 Europe Open Die Forging 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 Open Die Forging Market Size Forecast by Type
10.6.1 Steel
10.6.2 Aluminum
10.6.3 Alloy
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 Open Die Forging 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 Open Die Forging Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Open Die Forging 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 Open Die Forging Market Size Forecast by Type
11.6.1 Steel
11.6.2 Aluminum
11.6.3 Alloy
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 Open Die Forging 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 Open Die Forging Analysis and Forecast
12.1 Introduction
12.2 Latin America Open Die Forging 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 Open Die Forging Market Size Forecast by Type
12.6.1 Steel
12.6.2 Aluminum
12.6.3 Alloy
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 Open Die Forging 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) Open Die Forging Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Open Die Forging 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) Open Die Forging Market Size Forecast by Type
13.6.1 Steel
13.6.2 Aluminum
13.6.3 Alloy
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) Open Die Forging 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 Open Die Forging Market: Competitive Dashboard
14.2 Global Open Die Forging Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Precision Castparts Corp
14.3.2 Eramet Group
14.3.3 Bharat Forge Limited
14.3.4 ELLWOOD Group
14.3.5 Scot Forge
14.3.6 FRISA
14.3.7 Lucchini Mame Forge
14.3.8 Sheffield Forgemasters
14.3.9 WHEMCO
14.3.10 Forged Components
14.3.11 Precision Castparts Corp
14.3.12 Rosswag GmbH
14.3.13 Eastham Forge