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Insights on the Forging Market 2020-2024 | COVID-19 Analysis, Drivers, Restraints, Opportunities and Threats | Technavio

·6-min read

The forging market size is expected to grow by 14.14 million t during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report

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Technavio has announced its latest market research report titled Global Forging Market 2020-2024 (Graphic: Business Wire)

The developments in robotics is one of the major factors propelling market growth.

Developments in robotics will be one of the significant forging market trends that will drive the growth of the forging market size. The adoption of forging techniques is high among end-user sectors such as the medical, automotive, and aerospace industries. With the growing competition and the need to increase productivity, there is a considerable increase in the adoption of automation. The adoption of automation in the forging industry will aid in improving the quality of the product and also enhances manufacturing tolerances. With the rising developments in robotics such as collision resistance, the adoption of automation by forging companies will increase in the coming years. One of the significant automation solutions provider ABB has already incorporated its robots with corrosion resistance. The development of robotic software that allows performing tasks for handling objects, which in turn, enhances the efficiency of the production lines, is another development in the robotics industry that will drive forging market growth.

More details: www.technavio.com/report/forging-market-industry-analysis

Forging Market: Product Landscape

Closed die forging or impression die forging is manufactured using an impression die to compress the workpiece. The impression die consists of cavities that restrict the flow of the metal within the cavity. As the metal is subjected to plastic compression, it fills the cavity of the die mold. Thus, the forged metal part retains the dimensions and shape of the mold. The process leads to changes in the grain structure of the metal. The desired grain structure can be achieved by controlled material deformation. Market growth in this segment will be slower than the growth of the market in the seamless rings segment.

Forging Market: Geographic Landscape

APAC had the largest forging market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The strong growth in the production of automobiles will significantly influence forging market growth in this region. China and India are the key markets for forging in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Companies Covered

  • Aichi Steel Corp.

  • Alcoa Corp.

  • Allegheny Technologies Inc.

  • American Axle & Manufacturing Inc.

  • Arconic Inc.

  • Bharat Forge Ltd.

  • Bruck GmbH

  • Nippon Steel Corp.

  • Sumitomo Electric Industries Ltd.

  • thyssenkrupp AG

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, till 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Forging Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist in forging market growth during the next five years

  • Estimation of the forging market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the forging market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of forging market, vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product placement

  • Closed die forging - Market size and forecast 2019-2024

  • Open die forging - Market size and forecast 2019-2024

  • Seamless rings - Market size and forecast 2019-2024

  • Market opportunity by Product

Market Segmentation by End-user

  • Market segments

  • Comparison by End user placement

  • Automotive - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by End user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Geographic Landscape by Volume

  • Geographic segmentation

  • Geographic comparison

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Aichi Steel Corp.

  • Alcoa Corp.

  • Allegheny Technologies Inc.

  • American Axle & Manufacturing Inc.

  • Arconic Inc.

  • Bharat Forge Ltd.

  • Bruck GmbH

  • Nippon Steel Corp.

  • Sumitomo Electric Industries Ltd.

  • thyssenkrupp AG

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201030005378/en/

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