Forging Market size to grow by 17.34 million t from 2022 to 2027, Advantages of forging over other fabrication techniques to drive the market growth

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12 May, 2023, 18:15 ET

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NEW YORK, May 12, 2023 /PRNewswire/ -- The global forging market size is estimated to increase by USD 17.34 million t from 2022 to 2027. The market's growth momentum will progress at a CAGR of 5.82% during the forecast period. The advantages of forging over other fabrication techniques significantly drive the forging market growth. Forging makes a metal tough, ductile, and capable of withstanding fatigue and is widely used in end-user industries that require high-strength products. The advantages of forging over casting include the high strength of forged steel, cost-effectiveness, flexibility, and high tensile strength of forged products, and a cast iron part possesses only two-thirds of the yield strength of a forged steel part. Hence, the advantages of forging over casting will drive the demand for forging in these industries. Such factors will fuel the growth of the market during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and Forecast period (2023-2027) before buying the full report -Request a sample report

Forging market – Vendor AnalysisVendor Landscape - The global forging market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer forging in the market are Aichi Steel Corp., Ajax Tocco Magnethermic Corp., Alicon Castalloy Ltd., All Metals and Forge Group, Allegheny Technologies Inc., Aluminum Precision Products, American Axle and Manufacturing Holdings Inc., Asahi Forge Corp., Bharat Forge Ltd., Bruck GmbH, Consolidated Industries Inc., Farinia SA, Fountaintown Forge Inc., Larsen and Toubro Ltd., Mitsubishi Steel Mfg. Co. Ltd., Pacific Forge Inc., Patriot Forge Co., Scot Forge Co., Sumitomo Heavy Industries Ltd., and thyssenkrupp AG and others.

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Forging Market - Segmentation AssessmentSegment OverviewThis report extensively covers market segmentation by end-user (automotive and others), product (closed die forging, open die forging, and seamless rings), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Geography OverviewBy geography, the global forging market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global forging market.

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Forging Market – Market Dynamics

Key Trends -

Major challenges -

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of businesses, find some insights from a sample report!

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Forging Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.82%

Market growth 2023-2027

17.34 mn t

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.26

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 67%

Key countries

US, China, India, Germany, and Italy, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aichi Steel Corp., Ajax Tocco Magnethermic Corp., Alicon Castalloy Ltd., All Metals and Forge Group, Allegheny Technologies Inc., Aluminum Precision Products, American Axle and Manufacturing Holdings Inc., Asahi Forge Corp., Bharat Forge Ltd., Bruck GmbH, Consolidated Industries Inc., Farinia SA, Fountaintown Forge Inc., Larsen and Toubro Ltd., Mitsubishi Steel Mfg. Co. Ltd., Pacific Forge Inc., Patriot Forge Co., Scot Forge Co., Sumitomo Heavy Industries Ltd., and thyssenkrupp AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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