Metal Forging Market 2022-2027: Latest Updates, Industry Size, Share, Growth and Business Statistics

According to IMARC Group latest report titled "Metal Forging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on metal forging market. 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 CAGR of 7% during 2022-2027.

Metal forging refers to the process of shaping and forming various metals by hammering or pressing. The compressive force is applied for deforming and making geometrical changes to the material. Compared to other metal-producing processes, forging makes some of the strongest parts. The hot method of metal forging breaks up impurities and removes inclusions that can cause stress points. As a result, metal forging is utilized for manufacturing essential aircraft parts, such as shafts for turbines and jet engines, structural components for transportation equipment, and landing gear.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

Significant growth in the aerospace industry, where ferrous and nonferrous forgings are utilized in piston-engine planes, helicopters, supersonic military aircraft, and commercial jets, is primarily driving the market growth. Furthermore, the expanding applications of forged components at stress and shock points in trucks and other automobiles are also propelling the market growth. Besides this, several leading players are focusing on increasing their production capacities to reach a broader consumer base and ensure optimal quality, which in turn is acting as another growth-inducing factor. Moreover, the metal forging process finds widespread applications in the steel industry, which is further expected to augment the market growth in the coming years.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.
• 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.

Market Breakup by Raw Material:
• Carbon Steel
• Alloy Steel
• Aluminum
• Magnesium
• Stainless Steel
• Titanium
• Others

Market Breakup by Application:
• Automotive
• Aerospace
• Oil and Gas
• Construction
• Agriculture
• Others

Market 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 (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

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