Metal Forging Market Report, Size, Share, Growth, Trends and Forecast 2024-2032
According to IMARC Group latest report titled “Metal Forging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on metal forging market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global metal forging market size is expected to exhibit a growth rate (CAGR) of 5.73% during 2024-2032.
Metal forging is a manufacturing process involving the shaping of metal using localized compressive forces. The key techniques in forging include rolling, pressing, and hammering, primarily executed at high temperatures to achieve desired shapes and sizes. Forged metal components are known for their strength, reliability, and durability, making them preferable in critical applications. The types of forging methods include closed-die forging, open-die forging, and seamless rolled ring forging, each suitable for specific applications based on required precision and material characteristics. It is widely appreciated for its ability to produce parts that are stronger than those manufactured by any other metalworking process. This is due to the grain refinement as a consequence of the thermal cycle and deformation process. Forged parts are inherently robust, often used in aerospace, automotive, and construction sectors where structural integrity and performance under stress are paramount.
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Market Trends:
The global market is propelled by a resurgence in automotive and aerospace manufacturing, where precision and durability are paramount. Along with this, the incresaing infrastructure investments across emerging economies have also heightened the demand for forged components used in construction machinery and material handling equipment. In addition, technological advancements such as automation and computer-controlled forging processes have further optimized production efficiency and product quality, broadening the scope of applications. Moreover, the inclination for lighter, yet stronger materials in automotive and aerospace sectors to enhance fuel efficiency and meet stringent emission standards is driving innovation in metal forging. Another significant trend is the increasing adoption of additive manufacturing or 3D printing, which is being integrated with traditional forging processes to reduce waste and improve yield. Together, these dynamics are shaping a robust trajectory for the metal forging industry, steering it towards sustained growth as industries continue to seek high-performance components.
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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 (2018-2023)
Market Outlook (2024-2032)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
About Us
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