Forging Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Techniques (Closed Die Forging, Open Die Forging, and Seamless Forging), Materials (Nickel-Based Alloys, Titanium Alloys, Aluminum Alloys, Steel Alloys, and Others), and Industries (Automotive, Aerospace, Railway, Heavy Equipment, and Wind Power)

Publication Month: Feb 2021 | Report Code: TIPRE00017201 | No. of Pages: 157 | Category: Manufacturing and Construction | Status: Published

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The forging market was valued at US$ 72,890.07 million in 2019 and it is projected to reach US$ 100,404.83 million by 2027; it is expected to grow at a CAGR of 5.1% from 2020 to 2027.

 

The global forging market is witnessing moderate growth owing to the significant demand from automotive and aerospace industries. The high growth of air passenger traffic has resulted in growth of the aerospace sector, which is boosting the manufacturing of forged aerospace parts. Also, rising focus of various governments on wind energy power generation has significantly increased the investments in wind energy projects. It has resulted in increased demand for wind energy forged components. However, high prices and availability of cheap substitutes are hindering the forging market to a certain extent. The forging market is segmented into techniques, materials, and industries. In terms of techniques, the closed die forging is estimated to hold over 70% of the global forging market share. Closed die forging is used for applications requiring high degree of precision, including automotive parts and forged fittings. Based on materials, the steel alloys segment held the largest market share in 2019. The dominance of the steel alloys segment can be attributed to low prices and easy availability of carbon steel. Additionally, high impact strength and improved ductility are boosting the segment growth. Based on industries, the automotive industry held the largest share. The forged automotive parts or components are stronger as compared to parts manufactured through casting or machining. Also, forged parts used in automotive require little or no machining, which helps automotive manufacturers in saving cost and time. The wind power segment is anticipated to witness the highest CAGR owing to increasing investments in wind power energy across the globe.

 

Impact of COVID-19 Pandemic on North America Forging Market

The emergence and rapid spread of the novel coronavirus has adversely affected numerous developed and developing countries across the world. The continuous surge in the count of COVID-19 patients is threatening several industries worldwide. It is becoming apparent with the COVID-19 pandemic spreading across the US that few can escape its scope, presenting significant challenges to all industries. This had temporarily closed down all production plants across all industries and has affected the supply chain and logistics industry of the country adversely. Owing to nationwide lockdown across major economies, such as the US and Canada, the supply chain of major techniques of forging was adversely affected, thereby impacted the manufacturing of the same.

 

Lucrative Regional Markets for Forging Providers

Lucrative Regional Markets for Forging Providers

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Forging Market Insights

 

Innovations in Forging Equipment & Process and Improving Economic Conditions Fuels Growth of Forging Market

In the fast-developing end-user segment, there has been an increase in demand for complex and innovative products. With an automated closed die forging process, the attention of equipment suppliers has shifted toward the development of new equipment and processes. In commercial aerospace applications, these new machines are capable of forging extra-large nickel- and titanium-based alloy parts. Currently, automation has a moderate positive impact on growth of the closed-die forging market; however, it is expected to increase during the forecast period.

 

Economic and market conditions across the world are also associated with the growth of this market and they are anticipated to provide growth opportunities during the forecast period. To sustain the completion in the metal forming market, forging businesses are focusing on providing lean, resilient, flexible, and adaptable forging processes. End-user industries, such as oil & gas, shipbuilding, aerospace, and construction equipment, are experiencing substantial growth. This has generated high demand among low-cost manufacturing countries, such as India and China, for closed die forged components. In developed countries, the impact of this factor is high, which is expected to continue in the near future.

 

Techniques-Based Market Insights

Based on techniques, the forging market is further segmented into closed die forging, open die forging, and seamless forging. In 2019, the closed die forging segment accounted for a significant share in the global forging market.

 

Forging Market, by Techniques – 2019 and 2027

Forging Market, by Techniques – 2019 and 2027

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Materials-Based Market Insights

Based on materials, the forging market is further segmented into nickel-based alloys, titanium alloys, aluminum alloys, steel alloys, and others. In 2019, the steel alloys segment accounted for a significant share in the global forging market.

 

Industries-Based Market Insights

Based on industries, the forging market is further segmented into automotive, aerospace, railway, heavy equipment, and wind power. In 2019, the automotive segment accounted for a significant share in the global forging market.

 

Strategic Insights

The players operating in the forging market focus on strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the market. A few developments by key players are listed below:

 

In February 2020, Setforge (a business division of Farinia Group) implemented an innovative waste heat recovery system due to the production of unwanted residual heat in the air. During forging operations, heating of billets, or heat treatment, Setforge facilities produce residual heat that is not used directly for the production of parts. Therefore, Setforge had decided to collaborate with the company EcoGreenEnergy in order to develop solutions for the recovery of waste heat.

 

By Techniques

  • Closed Die Forging
  • Open Die Forging
  • Seamless Forging


By Materials

  • Nickel-Based Alloys
  • Titanium Alloys
  • Aluminum Alloys
  • Steel Alloys
  • Others


By Industries

  • Automotive
  • Aerospace
  • Railway
  • Heavy Equipment
  • Wind Power


By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

 

Company Profiles

  • Alcoa Corporation    
  • All Metals & Forge Group    
  • CFS Machinery Co., Ltd      
  • Consolidated Industries, Inc.         
  • Farinia Group         
  • Fountaintown Forge, Inc.    
  • Pacific Forge Incorporated           
  • Patriot Forge Co.    
  • Precision Castparts Corp.             
  • Scot Forge

 

1.             Introduction

1.1       Study Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

2.             Key Takeaways

3.             Research Methodology

3.1       Coverage

3.2       Secondary Research

3.3       Primary Research

4.             Forging Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.2.1        North America – PEST Analysis

4.2.2        Europe – PEST Analysis

4.2.3        Asia Pacific – PEST Analysis

4.2.4        Middle East and Africa – PEST Analysis

4.2.5        South America PEST Analysis

4.3       Ecosystem Analysis

4.4       Expert Opinion

4.5       Premium Insights

4.5.1        Information on 3D Metal Printing

4.5.2        Volumetric Analysis of Forging Industry by Country

4.5.3        Pricing Analysis

5.             Forging Market – Key Market Dynamics

5.1       Market Drivers

5.1.1        Increasing Use of Forged Steel in Automotive Industry

5.1.2        Advantage of Forging over Other Fabrication Techniques

5.2       Market Restraints

5.2.1        Availability of Cheaper Alternative Processes

5.3       Market Opportunities

5.3.1        Innovations in Forging Equipment & Process and Improving Economic Conditions

5.4       Future Trends

5.4.1        Developments in Robotics

5.5       Impact Analysis of Drivers and Restraints

6.             Forging Market – Global Market Analysis

6.1       Global Forging Market Overview

6.2       Forging Market – Revenue and Forecast to 2027 (US$ Million)

6.3       Market Positioning – Five Key Players

7.             Forging Market Analysis – By Techniques

7.1       Overview

7.2       Forging Market, By Techniques (2019 and 2027)

7.3       Closed Die Forging

7.3.1        Overview

7.3.2        Closed Die Forging: Forging Market – Revenue and Forecast to 2027 (US$ Million)

7.4       Open Die Forging

7.4.1        Overview

7.4.2        Open Die Forging: Forging Market – Revenue and Forecast to 2027 (US$ Million)

7.5       Seamless Forging

7.5.1        Overview

7.5.2        Seamless Forging: Forging Market – Revenue and Forecast to 2027 (US$ Million)

8.             Forging Market Analysis – By Material

8.1       Overview

8.2       Forging Market Breakdown, by Materials, 2019 and 2027

8.3       Nickel-Based Alloys

8.3.1        Overview

8.3.2        Nickel-Based Alloys Market Revenue and Forecast to 2027 (US$ Million)

8.4       Titanium Alloys

8.4.1        Overview

8.4.2        Titanium Alloys Market Revenue and Forecast to 2027 (US$ Million)

8.5       Aluminum Alloys

8.5.1        Overview

8.5.2        Aluminum Alloys Market Revenue and Forecast to 2027 (US$ Million)

8.6       Steel Alloys

8.6.1        Overview

8.6.2        Steel Alloys Market Revenue and Forecast to 2027 (US$ Million)

8.7       Others

8.7.1        Overview

8.7.2        Others Market Revenue and Forecast to 2027 (US$ Million)

9.             Forging Market Analysis – By Industry

9.1       Overview

9.2       Forging Market Breakdown, by Industry, 2019 and 2027

9.3       Automotive

9.3.1        Overview

9.3.2        Automotive Market Revenue and Forecast to 2027 (US$ Million)

9.4       Aerospace

9.4.1        Overview

9.4.2        Aerospace Market Revenue and Forecast to 2027 (US$ Million)

9.5       Railway

9.5.1        Overview

9.5.2        Railway Market Revenue and Forecast to 2027 (US$ Million)

9.6       Heavy Equipment

9.6.1        Overview

9.6.2        Heavy Equipment Market Revenue and Forecast to 2027 (US$ Million)

9.7       Wind Power

9.7.1        Overview

9.7.2        Wind Power Market Revenue and Forecast to 2027 (US$ Million)

10.          Forging Market – Geographic Analysis

10.1    Overview

10.2    North America: Forging Market

10.2.1     North America: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.2.2     North America: Forging Market, by Techniques

10.2.3     North America: Forging Market, by Materials

10.2.4     North America: Forging Market, by Industries

10.2.5     North America: Forging Market, by Key Country

10.2.5.1    US: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.2.5.1.1    US: Forging Market, by Techniques

10.2.5.1.2    US: Forging Market, by Materials

10.2.5.1.3    US: Forging Market, by Industries

10.2.5.2    Canada: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.2.5.2.1    Canada: Forging Market, by Techniques

10.2.5.2.2    Canada: Forging Market, by Materials

10.2.5.2.3    Canada: Forging Market, by Industries

10.2.5.3    Mexico: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.2.5.3.1    Mexico: Forging Market, by Techniques

10.2.5.3.2    Mexico: Forging Market, by Materials

10.2.5.3.3    Mexico: Forging Market, by Industries

10.3    Europe: Forging Market

10.3.1     Europe: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.2     Europe: Forging Market, by Techniques

10.3.3     Europe: Forging Market, by Materials

10.3.4     Europe: Forging Market, by Industries

10.3.5     Europe: Forging Market, by Key Country

10.3.5.1    France: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.1.1    France: Forging Market, by Techniques

10.3.5.1.2    France: Forging Market, by Materials

10.3.5.1.3    France: Forging Market, by Industries

10.3.5.2    Germany: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.2.1    Germany: Forging Market, by Techniques

10.3.5.2.2    Germany: Forging Market, by Materials

10.3.5.2.3    Germany: Forging Market, by Industries

10.3.5.3    Italy: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.3.1    Italy: Forging Market, by Techniques

10.3.5.3.2    Italy: Forging Market, by Materials

10.3.5.3.3    Italy: Forging Market, by Industries

10.3.5.4    UK: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.4.1    UK: Forging Market, by Techniques

10.3.5.4.2    UK: Forging Market, by Materials

10.3.5.4.3    UK: Forging Market, by Industries

10.3.5.5    Russia: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.5.1    Russia: Forging Market, by Techniques

10.3.5.5.2    Russia: Forging Market, by Materials

10.3.5.5.3    Russia: Forging Market, by Industries

10.3.5.6    Rest of Europe: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.6.1    Rest of Europe: Forging Market, by Techniques

10.3.5.6.2    Rest of Europe: Forging Market, by Materials

10.3.5.6.3    Rest of Europe: Forging Market, by Industries

10.4    APAC: Forging Market

10.4.1     APAC: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.2     APAC: Forging Market, by Techniques

10.4.3     APAC: Forging Market, by Materials

10.4.4     APAC: Forging Market, by Industries

10.4.5     APAC: Forging Market, by Key Country

10.4.5.1    Australia: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.1.1    Australia: Forging Market, by Techniques

10.4.5.1.2    Australia: Forging Market, by Materials

10.4.5.1.3    Australia: Forging Market, by Industries

10.4.5.2    China: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.2.1    China: Forging Market, by Techniques

10.4.5.2.2    China: Forging Market, by Materials

10.4.5.2.3    China: Forging Market, by Industries

10.4.5.3    India: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.3.1    India: Forging Market, by Techniques

10.4.5.3.2    India: Forging Market, by Materials

10.4.5.3.3    India: Forging Market, by Industries

10.4.5.4    Japan: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.4.1    Japan: Forging Market, by Techniques

10.4.5.4.2    Japan: Forging Market, by Materials

10.4.5.4.3    Japan: Forging Market, by Industries

10.4.5.5    South Korea: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.5.1    South Korea: Forging Market, by Techniques

10.4.5.5.2    South Korea: Forging Market, by Materials

10.4.5.5.3    South Korea: Forging Market, by Industries

10.4.5.6    Rest of APAC: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.6.1    Rest of APAC: Forging Market, by Techniques

10.4.5.6.2    Rest of APAC: Forging Market, by Materials

10.4.5.6.3    Rest of APAC: Forging Market, by Industries

10.5    MEA: Forging Market

10.5.1     MEA: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.5.2     MEA: Forging Market, by Techniques

10.5.3     MEA: Forging Market, by Materials

10.5.4     MEA: Forging Market, by Industries

10.5.5     MEA: Forging Market, by Key Country

10.5.5.1    South Africa: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.1.1    South Africa: Forging Market, by Techniques

10.5.5.1.2    South Africa: Forging Market, by Materials

10.5.5.1.3    South Africa: Forging Market, by Industries

10.5.5.2    Saudi Arabia: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.2.1    Saudi Arabia: Forging Market, by Techniques

10.5.5.2.2    Saudi Arabia: Forging Market, by Materials

10.5.5.2.3    Saudi Arabia: Forging Market, by Industries

10.5.5.3    UAE: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.3.1    UAE: Forging Market, by Techniques

10.5.5.3.2    UAE: Forging Market, by Materials

10.5.5.3.3    UAE: Forging Market, by Industries

10.5.5.4    Rest of MEA: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.4.1    Rest of MEA: Forging Market, by Techniques

10.5.5.4.2    Rest of MEA: Forging Market, by Materials

10.5.5.4.3    Rest of MEA: Forging Market, by Industries

10.6    SAM: Forging Market

10.6.1     SAM: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.6.2     SAM: Forging Market, by Techniques

10.6.3     SAM: Forging Market, by Materials

10.6.4     SAM: Forging Market, by Industries

10.6.5     SAM: Forging Market, by Key Country

10.6.5.1    Brazil: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.6.5.1.1    Brazil: Forging Market, by Techniques

10.6.5.1.2    Brazil: Forging Market, by Materials

10.6.5.1.3    Brazil: Forging Market, by Industries

10.6.5.2    Argentina: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.6.5.2.1    Argentina: Forging Market, by Techniques

10.6.5.2.2    Argentina: Forging Market, by Materials

10.6.5.2.3    Argentina: Forging Market, by Industries

10.6.5.3    Rest of SAM: Forging Market – Revenue and Forecast to 2027 (US$ Million)

10.6.5.3.1    Rest of SAM: Forging Market, by Techniques

10.6.5.3.2    Rest of SAM: Forging Market, by Materials

10.6.5.3.3    Rest of SAM: Forging Market, by Industries

11.          Impact of COVID-19 Pandemic on Global Forging Market

11.1    North America: Impact Assessment of COVID-19 Pandemic

11.2    Europe: Impact Assessment of COVID-19 Pandemic

11.3    Asia Pacific: Impact Assessment of COVID-19 Pandemic

11.4    Middle East and Africa: Impact Assessment of COVID-19 Pandemic

11.5    South America Impact Assessment of COVID-19 Pandemic

12.          Industry Landscape

12.1    Overview

12.2    Market Initiative

12.3    New Product Development

13.          Company Profiles

13.1    Alcoa Corporation

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2    All Metals & Forge Group

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3    CFS Machinery Co., Ltd

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4    Consolidated Industries, Inc.

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5    Farinia Group

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6    Fountaintown Forge, Inc.

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7    Pacific Forge Incorporated

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8    Patriot Forge Co.

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9    Precision Castparts Corp.

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10 Scot Forge

13.10.1   Key Facts

13.10.2   Business Description

13.10.3   Products and Services

13.10.4   Financial Overview

13.10.5   SWOT Analysis

13.10.6   Key Developments

14.          Appendix

14.1    About The Insight Partners

14.2    Word Index

LIST OF TABLES

Table 1.             Forging Market – Revenue and Forecast to 2027 (US$ Million)

Table 2.             North America: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 3.             North America: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 4.             North America: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 5.             North America Forging Market, by Country – Revenue and Forecast to 2027 (USD Million)

Table 6.             US: Forging Market, by Techniques –Revenue and Forecast to 2027 (US$ Million)

Table 7.             US: Forging Market, by Materials –Revenue and Forecast to 2027 (US$ Million)

Table 8.             US: Forging Market, by Industries –Revenue and Forecast to 2027 (US$ Million)

Table 9.             Canada: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 10.          Canada: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 11.          Canada: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 12.          Mexico: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 13.          Mexico: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 14.          Mexico: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 15.          Europe: Forging Market, by Techniques– Revenue and Forecast to 2027 (US$ Million)

Table 16.          Europe: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 17.          Europe: Forging Market, by Industries– Revenue and Forecast to 2027 (US$ Million)

Table 18.          Europe Forging Market, by Country – Revenue and Forecast to 2027 (USD Million)

Table 19.          France: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 20.          France: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 21.          France: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 22.          Germany: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 23.          Germany: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 24.          Germany: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 25.          Italy: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 26.          Italy: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 27.          Italy: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 28.          UK: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 29.          UK: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 30.          UK: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 31.          Russia: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 32.          Russia: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 33.          Russia: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 34.          Rest of Europe: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 35.          Rest of Europe: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 36.          Rest of Europe: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 37.          APAC: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 38.          APAC: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 39.          APAC: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 40.          APAC Forging Market, by Country – Revenue and Forecast to 2027 (USD Million)

Table 41.          Australia: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 42.          Australia: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 43.          Australia: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 44.          China: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 45.          China: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 46.          China: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 47.          India: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 48.          India: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 49.          India: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 50.          Japan: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 51.          Japan: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 52.          Japan: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 53.          South Korea: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 54.          South Korea: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 55.          South Korea: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 56.          Rest of APAC: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 57.          Rest of APAC: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 58.          Rest of APAC: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 59.          MEA: Forging Market, by Techniques– Revenue and Forecast to 2027 (US$ Million)

Table 60.          MEA: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 61.          MEA: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 62.          MEA Forging Market, by Country – Revenue and Forecast to 2027 (USD Million)

Table 63.          South Africa: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 64.          South Africa: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 65.          South Africa: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 66.          South Africa: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 67.          South Africa: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 68.          South Africa: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 69.          UAE: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 70.          UAE: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 71.          UAE: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 72.          Rest of MEA: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 73.          Rest of MEA: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 74.          Rest of MEA: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 75.          SAM: Forging Market, by Techniques– Revenue and Forecast to 2027 (US$ Million)

Table 76.          SAM: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 77.          SAM: Forging Market, by Industries– Revenue and Forecast to 2027 (US$ Million)

Table 78.          SAM Forging Market, by Country – Revenue and Forecast to 2027 (USD Million)

Table 79.          Brazil: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 80.          Brazil: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 81.          Brazil: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 82.          Argentina: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 83.          Argentina: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 84.          Argentina: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 85.          Rest of SAM: Forging Market, by Techniques – Revenue and Forecast to 2027 (US$ Million)

Table 86.          Rest of SAM: Forging Market, by Materials – Revenue and Forecast to 2027 (US$ Million)

Table 87.          Rest of SAM: Forging Market, by Industries – Revenue and Forecast to 2027 (US$ Million)

Table 88.          List of Abbreviation

 

LIST OF FIGURES

Figure 1.           Forging Market Segmentation

Figure 2.           Forging Market Segmentation – By Geography

Figure 3.           Global Forging Market Overview

Figure 4.           Closed Die Forging Segment to Show Remarkable Traction During Forecast Period

Figure 5.           Nickel-based Alloys Segment to Show Remarkable Growth During Forecast Period

Figure 6.           Wind Power Segment to Show Remarkable Growth During Forecast Period

Figure 7.           APAC Held Largest Share of Global Forging Market

Figure 8.           North America – PEST Analysis

Figure 9.           Europe – PEST Analysis

Figure 10.        Asia Pacific – PEST Analysis

Figure 11.        Middle East and Africa – PEST Analysis

Figure 12.        SAM – PEST Analysis

Figure 13.        Ecosystem Analysis

Figure 14.        Expert Opinion

Figure 15.        Forging Market Impact Analysis of Drivers and Restraints

Figure 16.        Geographic Overview of Forging Market

Figure 17.        Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18.        Forging Market Revenue Share, by Techniques (2019 and 2027)

Figure 19.        Closed Die Forging: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 20.        Open Die Forging: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 21.        Seamless Forging: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 22.        Electronic Filter Market Breakdown, by Materials (2019 and 2027)

Figure 23.        Nickel-Based Alloys Market Revenue and Forecast to 2027(US$ Million)

Figure 24.        Titanium Alloys Market Revenue and Forecast to 2027(US$ Million)

Figure 25.        Aluminum Alloys Market Revenue and Forecast to 2027(US$ Million)

Figure 26.        Steel Alloys Market Revenue and Forecast to 2027(US$ Million)

Figure 27.        Others Market Revenue and Forecast to 2027(US$ Million)

Figure 28.        Forging Market Breakdown, by Application (2019 and 2027)

Figure 29.        Automotive Market Revenue and Forecast to 2027(US$ Million)

Figure 30.        Aerospace Market Revenue and Forecast to 2027(US$ Million)

Figure 31.        Railway Market Revenue and Forecast to 2027(US$ Million)

Figure 32.        Heavy Equipment Market Revenue and Forecast to 2027(US$ Million)

Figure 33.        Wind Power Market Revenue and Forecast to 2027(US$ Million)

Figure 34.        Global Forging Market Revenue Share, by Region (2019 and 2027)

Figure 35.        North America: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 36.        North America: Forging Market Revenue Share, by Techniques (2019 and 2027)

Figure 37.        North America: Forging Market Revenue Share, by Materials (2019 and 2027)

Figure 38.        North America: Forging Market Revenue Share, by Industries (2019 and 2027)

Figure 39.        North America: Forging Market Revenue Share, by Key Country (2019 and 2027)

Figure 40.        US: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 41.        Canada: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 42.        Mexico: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 43.        Europe: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 44.        Europe: Forging Market Revenue Share, by Techniques (2019 and 2027)

Figure 45.        Europe: Forging Market Revenue Share, by Materials (2019 and 2027)

Figure 46.        Europe: Forging Market Revenue Share, by Industries (2018 and 2027)

Figure 47.        Europe: Forging Market Revenue Share, by Key Country (2019 and 2027)

Figure 48.        France: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 49.        Germany: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 50.        Italy: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 51.        UK: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 52.        Russia: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 53.        Rest of Europe: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 54.        APAC: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 55.        APAC: Forging Market Revenue Share, by Techniques (2019 and 2027)

Figure 56.        APAC: Forging Market Revenue Share, by Materials (2019 and 2027)

Figure 57.        APAC: Forging Market Revenue Share, by Industries (2018 and 2027)

Figure 58.        APAC: Forging Market Revenue Share, by Key Country (2019 and 2027)

Figure 59.        Australia: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 60.        China: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 61.        India: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 62.        Japan: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 63.        South Korea: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 64.        Rest of APAC: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 65.        MEA: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 66.        MEA: Forging Market Revenue Share, by Techniques (2019 and 2027)

Figure 67.        MEA: Forging Market Revenue Share, by Materials (2019 and 2027)

Figure 68.        MEA: Forging Market Revenue Share, by Industries (2018 and 2027)

Figure 69.        MEA: Forging Market Revenue Share, by Key Country (2019 and 2027)

Figure 70.        South Africa: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 71.        Saudi Arabia: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 72.        UAE: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 73.        Rest of MEA: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 74.        SAM: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 75.        SAM: Forging Market Revenue Share, by Techniques (2019 and 2027)

Figure 76.        SAM: Forging Market Revenue Share, by Materials (2019 and 2027)

Figure 77.        SAM: Forging Market Revenue Share, by Industries (2018 and 2027)

Figure 78.        SAM: Forging Market Revenue Share, by Key Country (2019 and 2027)

Figure 79.        Brazil: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 80.        Argentina: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 81.        Rest of SAM: Forging Market – Revenue and Forecast to 2027 (US$ Million)

Figure 82.        Impact of COVID-19 Pandemic in North American Country Markets

Figure 83.        Impact of COVID-19 Pandemic in European Country Markets

Figure 84.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets

Figure 85.        Impact of COVID-19 Pandemic in Middle East and Africa Country Markets

Figure 86.        Impact of COVID-19 Pandemic in South America Country Markets

 

The List of Companies -  Forging Market

  1. Alcoa Corporation               
  2. All Metals & Forge Group                
  3. CFS Machinery Co., Ltd     
  4. Consolidated Industries, Inc.         
  5. Farinia Group        
  6. Fountaintown Forge, Inc.                
  7. Pacific Forge Incorporated              
  8. Patriot Forge Co.                 
  9. Precision Castparts Corp.                 
  10. Scot Forge
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Forging Market.

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global Forging Market, thereby allowing players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

 

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Frequently Asked Questions

APAC dominated the forging market with a share of 44.5% in 2019; it would continue to lead the market during the forecast period and account for 47.5% share by 2027. Europe is the second-largest contributor to the global forging market, followed by North America. China is the largest consumer and manufacturer of metal forgings in Asia Pacific. A large number of forged products are being exported by China to American and European countries. However, in the recent past, small-and medium-sized forging company’s experienced low profit margin and high machinery cost.

Benefit of the forging process over other fabrication techniques fuel the forging market growth. The forging process results in the structural modification of metals. The heated metals change mechanically to make the desired products under controlled conditions, which have uniform grain size and flow characteristics. This results in the refinement of forged metals and reduces the porosity. As a consequence, the obtained final product has superior metallurgical and mechanical characteristics as well as improved directional strength. Further, forging techniques also enhance structural integrity, which ensures optimum performance under field conditions per part or component. The forging process makes the metal ductile and tough, and imparts it a capability to withstand fatigue, while providing the grain flow with uniformity.

Automotive segment led the forging market with a share of 55.4% in 2019. In the automotive industry, forging is used in the manufacturing of chassis components, powertrain components, and transmission parts, among other application areas. For example, in June 2018, Bharat Forge Ltd. put a strategic stake of USD 13.94 million in Tevva Motors (Jersey) Limited, registered and incorporated under the Companies (Jersey) Law 1991, to carry out its Chelmsford (UK) operations for providing commercial vehicles and bus electric powertrain solutions. To address the requirements of OEMs, Bharat Forge also aims to produce a variety of goods, which is enabling it to raise its revenue per vehicle.

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