The global demand for Hot Forging Market is presumed to reach the valuation of nearlyUSD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022-2028.
Hot forging is the process, where two dies move towards each other and cover the workpiece in whole or in part. Hot forging is carried above the recrystallization temperature to avoid strain hardening of the metal. It is carried out on carbon steel, aluminum, and nickel alloys. Along with this, it has application across automotive manufacturing, agriculture, tools and hardware, aerospace, and construction equipment.
The rising demand for metal fabrication and stamping parts across automotive, railways, manufacturing, and oil & gas industries is driving the market growth. Also, the advantages associated with hot forging such as dimension accuracy and favorable mechanical properties in effect of microstructure changes is further fuelling the market growth. However, the availability of alternative forging method such as casting is likely to hamper the market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of hot forging.
The entire hot forging market has been sub-categorized into materials and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Carbon steel
- Nickel alloys
- Automotive manufacturing
- Tools and hardware
- Construction equipment
This section covers regional segmentation which accentuates on current and future demand for hot forging market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Hot Forging Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hot forging market include Arconic, ATI, Bharat Forge Ltd., Bruck GmbH, China First Heavy Industries, ELLWOOD Group Inc., NIPPON STEEL CORPORATION and others. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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