Global Metal Forging Market Overview:
Metal forging is the process in which metals are formed and shaped using comprehensive forces, which are delivered using hammering, pressing, and rolling. Forging can be performed in all temperature ranges, such as hot, cold, warm, and isothermal. Typical metals used in the forging process are carbon, alloy steel, stainless steel, and copper alloys. There are a wide range of advantages to metal forging, such as the fact that it produces more durable products and that forge products have greater fatigue strength and creep resistance. These methods may produce a wide range of forms. Increased international trade and globalization have opened up new markets for forged products, driving the growth of the metal forging industry on a global scale.
As per latest study released by AMA Research, the Global Metal Forging market is expected to see growth rate of 7.0% and may see market size of USD137520.0 Million by 2028.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
There is a growing demand for metal forgings made from advanced materials and high-performance alloys.
Market Growth Drivers:
Increasing development of new and advanced materials, including high-strength alloys and composite materials. and Increased automation in forging processes has improved efficiency, productivity, and consistency.
Challenges:
Metal forging can generate significant waste and emissions.
Restraints:
Fluctuation of raw materials such as, steel, aluminium and titanium.
Opportunities:
The expansion of renewable energy projects, such as wind and solar, requires durable and reliable components.
Competitive Landscape:
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages.
Some of the key players profiled in the report are Howmet aerospace (United States), Bruck GmbH (Germany), Arconic (United States), Metal Forgings Pvt. Ltd (India), Precision Castparts Corp. (United States), Thyssenkrupp AG (Germany), Pacific precision forging (China), Trenton forging (United States), Wanxiang Group (China), Nippon steel corporation (Japan), Corporation VSMPO-AVISMA (Russia) and Aichi steel corporation (Japan). Additionally, following companies can also be profiled that are part of our coverage like Jiangsu Longcheng Precision Forging Group Co., Ltd. (China), Auburt and duval (France), Bharat forge (India), AVIC Excellence Forging (Wuxi) Co., Ltd. (China) and Ramkrishna Forgings LTD (India). Considering Market by Industrial Vertical, the sub-segment i.e. Metal Industry will boost the Metal Forging market. Considering Market by Process, the sub-segment i.e. Impression Die Forging will boost the Metal Forging market. Considering Market by Material, the sub-segment i.e. Carbon Steel will boost the Metal Forging market.
Latest Market Insights:
In February 2022, Bharat forge limited had acquired the J S Autocast foundary India. The acquisition will be enabled Bharat forge to expand it product portfolio in the industrial sector, customer base.
In September 2023, SMS group, launched a groundbreaking innovation a new closed-die forging press boasting significant advancements in both automation and energy efficiency. This press represents a leap forward in forging technology, promising greater productivity, reduced environmental impact, and enhanced safety for operators.
What Can be Explored with the Metal Forging Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Metal Forging Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Metal Forging
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Metal Forging market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Metal Forging market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Supplier, Manufacturer, Research organization, Government Regulatory, End-User Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.