In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global metal forging market considering 2014-2018 as the historic year and 2019–2029 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting metal forging market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
The metal forging market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Kovárna VIVA, ELLWOOD Group Inc., Precision Castparts Corp., Larsen & Toubro Limited and many others.
Amidst the growing demand from automotive industry, metal forging market is set to witness a robust growth rate of more than 7%. Within the automotive sector demand is soaring for high-performance forged components for cars, trucks, and commercial automobiles thus augmenting the demand for metal forging. Metal forging is witnessing a surge in automotive applications on back of its durability, strength and reliability.
Key Takeaways of Metal Forging Market
Carbon Steel is the most in-demand raw material. Its popularity can be attributed to the high performance qualities of carbon steel such as ductility, yield strength, and impact resistance capacity. Magnesium offers the most lucrative revenue opportunities with a positive CAGR of more than 9%. Governments around the world are introducing stringent regulations to promote the use of high-performance materials such as magnesium for aerospace & defense manufacturing which is further augmenting its demand. Application of metal forging in construction will gain 2X traction from companies on the back of infrastructure development in emerging countries to support the economic needs.
You can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S&rep_id=4524
Automotive remains the leading application segment of metal forging. The production of electric cars is demanding specialized metals to be forged with precision and quality. East Asia is the leading global region for metal forging manufacturers with more than 40% of the market share. South Asia presents beneficial growth opportunities since countries in South Asia such as Singapore and Indonesia need metal forging services to cater to their automotive and manufacturing industries respectively.
The Global Metal Forging Market research study takes a comprehensive approach towards studying the key trends influencing the growth of this sector.
The report comprises data that offers an in-depth insight into the business sector.
A detailed outline of the Metal Forging market size is offered in the report with respect to the valuation and volume along with the market dynamics and scenario.
The report evaluates the current market scenario along with the impact of the COVID-19 pandemic on the present and future scenarios.
Request a sample of the Metal Forging Market report @ https://www.reportsanddata.com/sample-enquiry-form/3016 The study offers valuable insights into the regional landscape of industry verticals, coupled with the established companies that have gained a substantial position in the industry.Summary of the Global Metal Forging Market:The report offers an in-depth analysis of the regional landscapeA comprehensive overview of the competitive landscapeA detailed outline of the market segmentationDetailed Analysis of the Regional Segmentation:The report analyses the regional market of this industry through extensive study.
The report includes valuable insights pertaining to the industry shares and market position as per the market share occupied by these geographies.
Metal Forging Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
The study has done with respect to market share, size, outlook, estimation and forecast period 2021-2027.
Further, this report also highlights the regional and country-level market analysis.The metal forging market is vast, with many local and global players.
the key leaders follow different strategies to improve their market position, such as contracts, mergers, contracts, extending product portfolio, acquisitions, expansions, and product innovations to improve their market share globally.
for instance, in September 2020, Fushun Special Steel Co., Ltd., a steel-production and forging company, placed an order to Siempelkamp technology.
The order is for a new 60/70 MN open-die forging press with a four-column push-down design.
The global metal forging market size is expected to reach USD 151.1 billion by 2027, according to a new report by Radiant Insights, Inc., registering a CAGR of 7.6% over the forecast period.
The objective of AMP 2026 is to increase the market size of the Indian automotive sector to about USD 22–26 million by 2026.
For example, a spending package worth USD 1.3 trillion was passed by the United States House in March 2018, wherein a sum of around USD 695 billion has been dedicated for defense funding.
Such initiatives are likely to fuel the demand for forged components in the military aircraft sector.
Further key findings from the report suggest: • The automotive segment is expected to reach USD 69.7 billion by 2027, on account of the growing demand for metal forging in powertrain and combustion engines, especially in countries such as India and China • Carbon steel held the largest revenue share of 44.5% in 2019 owing to factors such as low cost and easy availability compared to other materials • Titanium is anticipated to register the highest CAGR of 9.1% over the forecast period in terms of revenue, considering the increase in research and development activities for new titanium alloys and their growing preference in the aerospace sector • Asia Pacific held the largest market share in terms of both volume and revenue in 2019.
The steady growth of the automotive sector in the country is likely to boost the product demand • Some of the global companies present in the metal forging market are Arconic, Scot Forge, Bharat Forge Ltd., Nippon Steel Corp, and Larsen & Toubro Limited.
