Global Forging Market Analysis, and Growth Trends Reveal CAGR Rise of 4.4% from 2017 to 2025
In the present time, the development of the automotive industry is having a positive influence on the worldwide global forging industry by leaps and bounds. It has been analyzed that the automotive industry utilizes as much as 65% of forged metals which is produced annually across the world. To study further about the forging market, a new study has been added to the wide repository of Market Research Reports Search Engine (MRRSE). The research report is titled “Forging Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025”, which covers details about the market forecast for forging at the global and regional level. Further, the study also includes drivers and restraints which are influencing the market in a significant manner.
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Forged metals are widely used in capital-intensive industries such as automotive factory automation, aerospace, and defense among others. It is primarily famous due to the effective characteristics of forged metals which display high strength and reliability than acquired by casting or any other metalworking process. Further, the low-cost factor of metal forging as compared to other processes add to its advantages. According to research findings, the global forging market is expected to expand at a CAGR of 4.4% from 2017 to 2025. At this pace, the market is likely to reach a valuation of US$96,433.7 mn by the end of the forecast period.
The research report includes a detailed value chain analysis, which offers a comprehensive view of the global forging market. Further, Porter’s Five Forces model for the forging market is also included to help the readers understand the competitive landscape in the market. Also, the study encompasses market attractiveness analysis, where end-users are benchmarked on the basis of their market size, growth rate, and general attractiveness.
As the report proceeds, the readers can access details about the market segmentation based on different parameters. The prime segments are based on type, company type, metals/ raw materials, and end-user. All of these segments are analyzed based on present and future trends. Further, a regional segmentation is included in the report which focuses on the prime market areas. The major regions mentioned in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. To educate in-depth, the report also covers demand for individual end-user segments in all of the above-mentioned regions.
The final section of the report discusses the profiles of major companies operating in the global forging market. Some of the key players in the forging market include Arconic Inc., Bharat Forge Limited, Allegheny Technologies Incorporated (ATI), Nippon Steel & Sumitomo Metal, Thyssenkrupp AG and American Axle & Manufacturing Holdings (AAM).
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