According to IMARC Group latest report titled “Metal Forging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on metal forging market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global metal forging market is expected to exhibit a growth rate (CAGR) of 6.7% during 2023-2028.
Metal forging is a manufacturing process wherein metal is heated and shaped by compressive forces, typically using hammers, presses, or specialized forging machines. This age-old technique involves the deformation and dislocation of metal grains to produce exceptionally strong and durable parts. It is employed across a myriad of industries, such as automotive, aerospace, energy, construction, and agriculture, to create components ranging from simple bolts and nails to complex engine parts and specialized tools. Additionally, the process enhances the mechanical properties of metals and ensures high dimensional accuracy and surface finish. Currently, the method is widely used for producing high-volume, mission-critical parts focusing on durability, resilience, and reliability.
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Market Trends:
The global metal forging market is on an upward trajectory, buoyed by the rising demand in the automotive and aerospace sectors, which require high-quality, durable components that can withstand extreme conditions. Moreover, advancements in technology have led to more efficient and cost-effective forging processes, such as computer-controlled automation and the use of advanced materials, significantly broadening market reach. Along with this, the increasing focus on renewable energy sources has also created a rise in demand for forged metal components in wind turbines and solar installations. Additionally, the infrastructure boom in developing economies is pushing the need for robust metal parts in construction and public works projects. Furthermore, the advent of eco-friendly forging techniques aimed at reducing the carbon footprint is also influencing the market positively. This confluence of technological, economic, and environmental factors is creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Arconic Corp.
- ATI
- Bharat Forge Ltd.
- Bruck GmbH
- China First Heavy Industries
- Ellwood Group Inc.
- Jiangyin Hengrun Heavy Industries Co. Ltd.
- Nippon Steel Corp.
- Precision Castparts Corp.
- Kovárna Viva
- Larsen Toubro Limited
- Scot Forge
- Thyssenkrupp AG
Metal Forging Market Segmentation:
Our report has categorized the market based on region, raw material and application.
Breakup by Raw Material:
- Carbon Steel
- Alloy Steel
- Aluminum
- Magnesium
- Stainless Steel
- Titanium
- Others
Breakup by Application:
- Automotive
- Aerospace
- Oil and Gas
- Construction
- Agriculture
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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