Press release
Isothermal Forging Global Market Report 2024 - By Size, Share, Report, Demand And Industry Trends, Forecast To 2033
Isothermal Forging Market
The isothermal forging market size is expected to see strong growth in the next few years. It will grow to $11.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to expanded material options, automotive lightweighting, medical implants, aerospace industry growth, green manufacturing practices.. Major trends in the forecast period include sustainability and recycling, advancements in mim equipment, customization and personalization, quality control and certification, 3d printing integration.
Market Overview -
Isothermal forging refers to a metal-forming process in which a heated metal billet is forged using a die that is held at a constant temperature during the forging process. This process is used to produce complex parts with tight tolerances and high strength requirements.
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Increasing Automotive Demand Driving Growth In The Isothermal Forging Market
Increasing demand for automobiles is expected to propel the growth of the isothermal forging market going forward. Automobiles refer to land-based autonomous passenger or commercial vehicles with a combustion engine and typically four or more wheels. Isothermal forging is an important process in the automobile industry for producing high-performance, complex-shaped parts that require high strength, durability, and precision, so increasing demand for automobiles will propel the growth of the isothermal forging market. For instance, in 2022, according to the data published by the International Organization of Motor Vehicle Manufacturers, a France-based international trade automotive association, the global sales of automobiles reached 82,755,197 in 2021, up from 78,787,566 in 2020. Furthermore, in March 2022, according to a report published by the European Automobile Manufacturers' Association (ACEA), the central lobbying and standards group for the automobile industry in the European Union, Passenger automobile sales in the United States increased by 5.5% from 2020 to 11.9 million units in 2021. In 2021, about 6.3 million passenger automobiles were produced in US auto plants, a 3.1% increase over 2020. In 2021, Chinese automakers manufactured 20.7 million automobiles, a 7.1% increase. The total number of cars produced worldwide increased by 2.7% to 63.2 million in 2021. Therefore, an increasing demand for automobiles is driving the growth of the isothermal forging market.
Competitive Landscape -
Major companies operating in the isothermal forging market report are Anchor-Harvey Components LLC, Arconic Corp., ATI Forged Inc., Bharat Forge Ltd., CFS Forge, H C Starck Solutions Services Inc., Larsen & Toubro Ltd., Schuler Group, Trenton Forging Company, Pratt & Whitney, Alcoa Corporation, ALD Vacuum Technologies Pvt. Ltd., SMT Limited, Precision Castparts Corp., Leistritz Turbinentechnik GmbH, 3A Composites, Sundaram Fasteners Ltd., Kalyani Forge Limited, Aubert and Duval Pvt. Ltd., Bharat Dynamics Limited, Bharat Electronics Limited, Bharat Earth Movers Limited, Bharat Petroleum Corporation Limited, Amtek Auto Limited, Tata Steel Limited, Nanshan Forge Company, Bharat Heavy Electricals Limited, Formosa Plastics Group, Howmet Aerospace Inc., Aalco metals ltd.
Rise Of Advanced Technological Innovations In The Isothermal Forging Market
The advanced technological effects are a key trend gaining popularity in the isothermal forging market. Major companies operating in the isothermal forging market are focusing on launching advanced technologies to sustain their position in the market. For instance, in May 2021, the Defense Research and Development Organization (DRDO), an India-based Department of Defense Research and Development working under the Ministry of Defense, developed an indigenous isothermal forging technology for aero engines. With its special 2000 MT isothermal forge press, this technology is vital for producing the five phases of high-pressure compressors (HPC) discs made of tough-to-deform titanium alloy. This technology is essential for developing self-reliance in the field of aero-engine technology.
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Key Segments -
The isothermal forging market covered in this report is segmented -
1) By Raw Material: Carbon Steel Metal Forging, Alloy Steel Metal Forging, Aluminum Metal Forging, Magnesium Metal Forging, Stainless Steel Metal Forging, Titanium Metal Forging, Other Raw Material Metal Forging
2) By Processes: Conduction heating, Induction heating
3) By End Use Vertical: Aerospace And Defense, Agriculture Equipment, Automotive, Construction And Mining Equipment And Components, Electrical And Electronic, Energy And Power, Industrial And Manufacturing, Marine And Rail, Oil And Gas
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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