Global Forging Market Overview:
Forging is a process of giving a desired shape to a metal piece by heating and hammering. This process can create parts that are stronger than those manufactured by any other metalworking process. Owing to this forgings are almost always used where reliability and human safety are critical. Furthermore, forging machines are now capable of making parts ranging in size of a bolt to a turbine rotor. Moreover, most of forging operations are carried out hot, although certain metals may be cold-forged Some of the key players profiled in the study are American Axle & Manufacturing Holdings (United States), Ellwood Group (United States), Precision Castparts (United States), Frisa (Mexico), ATI (Spain), Kovarna Alper (Czech Republic), Sumitomo (Japan), Scot Forge (United States), ThyssenKrupp (Germany) and Bharat Forge Limited (India). According to Market Analyst at AMA, the Global Forging market may see a growth rate of 5.83%
On the basis of geography, the market of Forging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Order, the sub-segment i.e. Captive Forging will boost the Forging market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand for High-Strength Metal Components
- Cost-Effective Method of Metal Forming
- Integration of Internet of Things (IoT) With Forging Technology
- Increasing Gap on Skilled Labor
- Limited Availability of Some Materials
- Rising Automotive and Construction Industries in the Developing Economies
- Stringent Environmental Rules & Regulations
- Industry Faces a Number of Research and Technical Challenges Involving Materials, Energy, and Forging Technology
On 18 Dec, 2018, Sumitomo Corporation and mineral resources major, Glencore International AG, own part of the Clermont coal mine in Queensland Australia through the joint special purpose vehicle, GS Coal
EPA promulgated the Iron and Steel (I&S) Effluent Guidelines and Standards (40 CFR Part 420) in 1974, and amended the regulation in 1976, 1982, 1984, 2002 and 2005. The regulation covers any facility that is engaged in iron or steel manufacturing, forming, and finishing, including coke manufacturing. EPA estimates there are 254 iron and steel facilities discharging directly to surface waters or indirectly through publicly owned treatment works (POTWs)
Target Audience:Forging Service Providers, Suppliers of Forging Subcomponents, Wholesalers, Distributors, and Retailers of Forging Products, Automotive Industry, Aerospace Industry, Oil and Gas Industry, Governmental Bodies and Research Firms
Major Objectives Focused through this Study To define, describe, and forecast the Global Forging market on the basis of product [Open Die, Closed Die and Rolled Rings] , application [Automotive Industry, Aerospace Industry, Oil and Gas Industry and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Forging market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Forging industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Sypris Solutions (United States), Hilton Metal Forging Ltd. (India) and HHI Forging (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Forging market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.