Forging Market Size By Regional Analysis(Europe, Asia Pacific, America, Middle East And Africa), By Demand & COVID-19 Impact Analysis, By Type, By Applications And Forecasts 2023 - 2030
Report Overview
The Market Research Update provide detailed report study and highlights market share and size, and regional changing trends, production value predication, new prospects for Forging market development rate. This study report offers a current scenario of the market. The report also comprises a several market dynamics.
The Forging is projected to rise moderately in the projected time frame of 2023-2030.
Forging is a manufacturing process involving the shaping of metal using localized compressive forces. The blows are delivered with a hammer (often a power hammer) or a die. Forging is often classified according to the temperature at which it is performed: cold forging (a type of cold working), warm forging, or hot forging (a type of hot working). For the latter two, the metal is heated, usually in a forge. Forged parts can range in weight from less than a kilogram to hundreds of metric tons. Forging has been done by smiths for millennia; the traditional products were kitchenware, hardware, hand tools, edged weapons, cymbals, and jewellery. Since the Industrial Revolution, forged parts are widely used in mechanisms and machines wherever a component requires high strength; such forgings usually require further processing (such as machining) to achieve a finished part. Today, forging is a major worldwide industry.
The global average price of automotive forging products is in the decreasing trend, from 2271 USD/MT in 2013 to 2164 USD/MT in 2020. With the situation of raw material, prices will be in increasing trend in the following five years. In terms of raw material, the segments of the global automotive forging market include aluminum, copper/brass/bronze, low-carbon & low-alloy steels, special alloy steel, stainless steel.
The segments of the global automotive forging market on the basis of type are closed die, open die, and rolled rings. Amongst them, the segment of closed die dominates in terms of revenue and the trend is expected to continue over the forecast period. This is due to the par excellence performance and finish of products that are obtained using this process.
The key application segments of the global automotive forging market covered in this report are powertrain components, chassis components, transmission parts and other part. Amongst all, powertrain components are the leading application segment of the market. The leading share of the powertrain components segment is ascribed to the expansion of the automobile industry to cater to the high demand for automobiles. The powertrain components segment held almost 48.21% of the global automotive forging market in terms of volume in 2020.
Geography-wise, the global automotive forging market is segmented into North America, Europe, Asia Pacific (China, India, Japan, etc.). In the years ahead, Asia Pacific is expected to display the leading growth amongst other key regions. The growth of the region is mainly driven by the development of automotive industries. Emerging economies of the region are major consumers of forged metal for the rising urbanization and industrialization in these regions.
The capital-intensive nature of the global automotive forging market accounts for the clear dominance of well-entrenched players that operate in international markets. This poses challenge for small players that compete with large players with respect to quality, features, functionalities, and services. The use of newer technologies by large players to add qualitative value to existing products will further add to the woes of small players.
Global Forging market size will increase to 57900 Million US$ by 2030, from 38000 Million US$ in 2020, at a CAGR of 5.4% during the forecast period. In this study, 2023 has been considered as the base year and 2023 to 2030 as the forecast period to estimate the market size for Forging.
Objectives of Research:
- The overview of the global Forging market
- Report comprised of the market companies, to describe and define and analyze the Forging market value, share competition landscape, development plans and SWOT analysis.
- The report also involves the structure of the industry by identifying its several sub-segments.
- To observe the industry with reverence to individual future prospects, development trends, and contribution to the overall market.
Major Players in the Market:
The major competitors working in the market are:
, Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge Limited, KOBELCO, WanXiang, FAW, Arconic, Mahindra Forgings Europe, Farinia Group, Longcheng Forging, Sinotruck, Dongfeng Forging, Jiangsu Pacific Precision Forging, Sypris Solutions, Ashok Leyland Limited, Allegheny Technologies, VDM Metals, CITIC Heavy Industries
Market by Order Type
Closed Die Forgings
Open Die Forgings
Rolled Rings Forgings
Forging Data by Application
Powertrain Components
Chassis Components
Transmission Parts
Other Parts
Forging Production Regions Covered in the Report are:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Rest of the World
Our team of enthusiastic analysts, research experts, and experienced forecasters work precisely to produce such kind of market report. The research report defines USD values, CAGR (compound annual growth rate) values and their variations for the precise projected time frame.
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The research information and studies associated with participant analysis keep the competitive landscape noticeably into the focus with which the market can select or advance their own policies to increase in the market growth.
The Key Questions Answered In Market Report Are:
- Summary of the Forging market comprising definition
- Forging Market Growth Drivers, Restrains, Challenges and opportunities
- Major trends which is impacting the global Forging market
- Forging Market segmentation and complete information about the market
- Regional analysis of the market
- Which regional market will develop as a champion at intervals in the coming years?
- What are the top companies at intervals in the global Forging market?
- What are the growth strategies of the key players to sustain hold at intervals in the global Forging market?
Table of Content
Forging Market – Overview
1.1 Definitions, Overview, and Scope
1.2 Drivers, Restrain, Challenges, Opportunities
Forging Market – Executive Summary
2.1 Market Revenue and Major Trends, and Challenges
Forging Market – Comparative Analysis
3.1 Product Benchmarking
3.2 Financial Overview
3.3 Market Cost Divided
3.4 Estimating Examination
Forging Market – Industry Market Entry Scenario
4.1 Governing Outline Summary
4.2 New Business index
4.3 Case Studies of Positive Schemes
Forging Market Forces
5.1 Market Drivers
5.2 Market Restrains
5.3 Market New Opportunities
5.4 Market Challenges
5.4 Porters five force model
Forging Market – Strategic Complete Overview
6.1 Value Chain Analysis
6.2 Market Opportunities Analysis
6.3 Market Challenges Analysis
6.4 Market Life Cycle
Forging Market – By Regions (Market Size –USD Million)
7.1 North America
7.2 Europe
7.3 Asia-Pacific
7.4 Middle East and Africa
7.5 Rest of the World
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