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Forging Market Emergence of advanced technologies and global industry analysis 2024

10-04-2017 06:51 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research Reports

/ PR Agency: Transparency Market Research Reports
Forging Market Emergence of advanced technologies and global

The capital-intensive nature of the global forging market features clear dominance of large players that operate in global markets, says a report by Transparency Market Research (TMR). This poses stiff challenges to small players that contend amongst large players with respect to quality, features, functionalities, and services. Further, the use of newer technologies by well-entrenched players that will add qualitative value to existing products and also lead to the development of novel products will intensify the competition.

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https://www.transparencymarketresearch.com/forging-market.html

Some key participants in the global forging market include Arconic Inc., Allegheny Technologies Incorporated, Bharat Forge Limited, Nippon Steel & Sumitomo Metal, American Axle & Manufacturing Holdings, and Thyssenkrupp AG.

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As per estimates of a report by Transparency Market Research, the global forging market is expected to be worth US$96,433.7 mn by 2025 expanding at a CAGR of 4.4% between 2017 and 2025. The market stood at a valuation of US$66,049.8 mn in 2016.

Powered by Industrialization in Emerging Economies, Asia Pacific Dominates Market

The segments of the global forging market based upon type are closed die, open die, and rolled rings. Closed die forging holds the leading share in the market on account of the par excellence finish and performance of products obtained using this process. The segment is expected to continue dominance over the forecast period.

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https://www.transparencymarketresearch.com/report-toc/23687

Low-carbon & low-alloy steels metals is the leading raw material segment in the forging market. In terms of application, automotive holds dominance amongst other application segments owing to the high usage of automobiles and expansion of the automobile industry.

Asia Pacific held the leading share in the global forging market in 2016. The growth of the region is primarily ascribed to the development of automotive and construction industries, particularly in China.

Revival of Growth of Automotive Sector Favors Market

The increasing demand for forging in the automotive industry is the foremost factor fuelling growth of the forging market. The automotive sector utilizes as much as 65% of forged metals that are produced every year globally. The growth of the automotive industry post the economic slump of 2007 is having a positive impact on the global forging industry.

Global Forging Market Report is available at US$ 5795 -
http://www.transparencymarketresearch.com/checkout.php?rep_id=23687<ype=S

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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