Global Forging Industry 2019-2024 Market Size, Share, Top 20 Key Players, Growth Factors, Demand Analysis and Forecast Research

The worldwide market for Forging is expected to grow at a CAGR of roughly 5.4% over the next five years, will reach 52000 million US$ in 2024, from 38000 million US$ in 2019, according to a new study.

February 5, 2019 /MarketersMedia/ —

The global average price of automotive forging products is in the decreasing trend, from 2271 USD/MT in 2013 to 2164 USD/MT in 2017.

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.

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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 parts. 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 2017.

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 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 a 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 Industry is spread across 137 pages, profiling 20 companies and supported with tables and figures.
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The Manufacturers Analyzed in Global Forging 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 and Others.

Market Segment by Regions, regional analysis covers
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
• Closed Die Forgings
• Open Die Forgings
• Rolled Rings Forgings

Market Segment by Applications, can be divided into
• Powertrain Components
• Chassis Components
• Transmission Parts
• Other Parts

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Table of Contents:
1 Forging Market Overview
2 Manufacturers Profiles
3 Global Forging Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Forging Market Analysis by Regions
5 North America Forging Revenue by Countries
6 Europe Forging Revenue by Countries
7 Asia-Pacific Forging Revenue by Countries
8 South America Forging Revenue by Countries
9 Middle East and Africa Revenue Forging by Countries
10 Global Forging Market Segment by Type
11 Global Forging Market Segment by Application
12 Global Forging Market Size Forecast (2019-2023)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix
Author List
Disclosure Section
Research Methodology
Data Source

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Release ID: 479151