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Global Metal Forging Market Report By Raw Material (Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Others), By Application (Automotive, Aerospace, Oil & Gas, Construction, Agriculture, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2021-2028
ID:VMR11214155
April 2021
Report Formats: Electronic (PDF), MS EXCEL
Global Metal Forging Market Overview
The key driver impacting the metal forging market is the rapidly growing aerospace sector globally, which is likely to create more market demand in the forecast period. The aerospace sector necessitates a large number of forged parts, which are manufactured by using special alloys. The aircraft components, such as landing gear systems, aerospace turbines, engines, and precision machined parts, are manufactured through the forging process. For instance, Aerospace Industry Association (AIA), The U.S. Aerospace & Defense (A&D) industry, is the worldwide leader in developing, designing, and manufacturing technologically advanced aircraft space systems and defense capabilities. As 2019 drew to a close, the A&D industry shows robust yearly growth with joint industry sales revenue reaching $909 billion. It is a 6.7% rise from 2018. In 2019, A&D recorded $909 billion in sales, rising 6.7% from the prior year. Moreover, the rise in demand for machinery and equipment from ever expanding construction industry worldwide is estimated to be a significant factor that positively impacts market growth. The machinery and equipment utilized in the construction industry consist of forged parts, such as mold design, pistons, and fabrication parts. Whereas with regards to volume,the market was calculated XX Metric Kilo Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
The automotive industry's growth is estimated to augment metal forgings demand in the forecast period as there is the massive adoption of forged parts in manufacturing automotive components. For instance, as per Crescendo Worldwide Organization, globally automobile production in 2019 was estimated as 92 MN Vehicles, and it is predicted to grow by a CAGR of 20.78% by 2028. International Organization of motor vehicle manufacturers (OICA), in 2019, increased sales of passenger cars by about 5% and reached 69.5 million units. similarly, the commercial vehicles segment showed a constant rise as the sales reached 24 million units in 2019. however, increasing prices of raw materials may hamper the global metal forging market in the long run. also, the growing adoption of electric vehicles negatively impacts market growth. the current industry trends, such as the escalating demand for metal forged parts in the nuclear power industry and rising defense expenditure, are expected to provide market players with several market opportunities.
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. This new press will improve the plant cost efficiency. the known players included in the report are Arconic Corp., Bharat Forge Ltd., ATI, Bruck GmbH, Ellwood Group, Inc., Jiangyin Hengrun Heavy Industries Co., Ltd., Kovárna Viva, Scot Forge, Thyssenkrupp Business Area Components Technology, Precision Castparts Corp., China First Heavy Industries, Japan Casting & Forging Corp., Nippon Steel Corp., Precision Castparts Corp., and Larsen & Toubro Ltd.
In this research report, the metal forging market is segmented by raw material, application, and region.
Analysis by Raw Material:
By raw material, the report is categorized into carbon steel, alloy steel, aluminum, magnesium, stainless steel, titanium, and others. Carbon steel dominates the product segment with over 40% share in 2020. It is due to the low price of carbon steel together with its easy availability. Moreover, raw material presents improved ductility and high impact strength to the final products, thus contribute to the high demand for carbon steel in the forecast period.
Analysis by Application:
By applications, the report is categorized into automotive, aerospace, oil & gas, construction, agriculture, and others. The automotive sector dominates the application segment with over 50% share in 2020. It is due to the rising production and sales of automobiles across the globe. Moreover, the high adoption of forged aluminum in automobiles to meet the high strength and lightweight components needs drives the market demand from the automotive sector in the forecast period.
Analysis by Region:
In the regional outlook of the global metal forging market, the Asia Pacific region dominates with a 50% market share during the forecast period. It is due to rising foreign investments and high demand from the automotive and construction sector, which is a significant consumer of forged parts in developing economies like India and China. Moreover, the presence of a manufacturing hub and rising demand for nickel-based and aluminum-based forgings in the rapidly growing automotive sector contributes to the development of the metal forging market across the Asia Pacific.
Market Segmentation covered in the Report:
By Raw Material
The key driver impacting the metal forging market is the rapidly growing aerospace sector globally, which is likely to create more market demand in the forecast period. The aerospace sector necessitates a large number of forged parts, which are manufactured by using special alloys. The aircraft components, such as landing gear systems, aerospace turbines, engines, and precision machined parts, are manufactured through the forging process. For instance, Aerospace Industry Association (AIA), The U.S. Aerospace & Defense (A&D) industry, is the worldwide leader in developing, designing, and manufacturing technologically advanced aircraft space systems and defense capabilities. As 2019 drew to a close, the A&D industry shows robust yearly growth with joint industry sales revenue reaching $909 billion. It is a 6.7% rise from 2018. In 2019, A&D recorded $909 billion in sales, rising 6.7% from the prior year. Moreover, the rise in demand for machinery and equipment from ever expanding construction industry worldwide is estimated to be a significant factor that positively impacts market growth. The machinery and equipment utilized in the construction industry consist of forged parts, such as mold design, pistons, and fabrication parts. Whereas with regards to volume,the market was calculated XX Metric Kilo Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global metal forging market was valued at around USD 83,500 million in 2020 and is estimated to grow at a CAGR of about 5% during the forecast period of 2021 to 2027.
The automotive industry's growth is estimated to augment metal forgings demand in the forecast period as there is the massive adoption of forged parts in manufacturing automotive components. For instance, as per Crescendo Worldwide Organization, globally automobile production in 2019 was estimated as 92 MN Vehicles, and it is predicted to grow by a CAGR of 20.78% by 2028. International Organization of motor vehicle manufacturers (OICA), in 2019, increased sales of passenger cars by about 5% and reached 69.5 million units. similarly, the commercial vehicles segment showed a constant rise as the sales reached 24 million units in 2019. however, increasing prices of raw materials may hamper the global metal forging market in the long run. also, the growing adoption of electric vehicles negatively impacts market growth. the current industry trends, such as the escalating demand for metal forged parts in the nuclear power industry and rising defense expenditure, are expected to provide market players with several market opportunities.
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. This new press will improve the plant cost efficiency. the known players included in the report are Arconic Corp., Bharat Forge Ltd., ATI, Bruck GmbH, Ellwood Group, Inc., Jiangyin Hengrun Heavy Industries Co., Ltd., Kovárna Viva, Scot Forge, Thyssenkrupp Business Area Components Technology, Precision Castparts Corp., China First Heavy Industries, Japan Casting & Forging Corp., Nippon Steel Corp., Precision Castparts Corp., and Larsen & Toubro Ltd.
In this research report, the metal forging market is segmented by raw material, application, and region.
Analysis by Raw Material:
By raw material, the report is categorized into carbon steel, alloy steel, aluminum, magnesium, stainless steel, titanium, and others. Carbon steel dominates the product segment with over 40% share in 2020. It is due to the low price of carbon steel together with its easy availability. Moreover, raw material presents improved ductility and high impact strength to the final products, thus contribute to the high demand for carbon steel in the forecast period.
Analysis by Application:
By applications, the report is categorized into automotive, aerospace, oil & gas, construction, agriculture, and others. The automotive sector dominates the application segment with over 50% share in 2020. It is due to the rising production and sales of automobiles across the globe. Moreover, the high adoption of forged aluminum in automobiles to meet the high strength and lightweight components needs drives the market demand from the automotive sector in the forecast period.
Analysis by Region:
In the regional outlook of the global metal forging market, the Asia Pacific region dominates with a 50% market share during the forecast period. It is due to rising foreign investments and high demand from the automotive and construction sector, which is a significant consumer of forged parts in developing economies like India and China. Moreover, the presence of a manufacturing hub and rising demand for nickel-based and aluminum-based forgings in the rapidly growing automotive sector contributes to the development of the metal forging market across the Asia Pacific.
Market Segmentation covered in the Report:
By Raw Material
- Carbon Steel
- Alloy Steel
- Aluminum
- Magnesium
- Stainless Steel
- Titanium
- Others
- Automotive
- Aerospace
- Oil & Gas
- Construction
- Agriculture
- Others
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
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1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . METAL FORGING – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Raw Material
3.7.2 By Application
3.7.3 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL METAL FORGING MARKET ANALYSIS BY RAW MATERIAL
6.1 Overview by Raw Material
6.2 Historical and Forecast Data
6.3 Analysis by Raw Material
6.4 Carbon Steel Market by Regions
6.6 Alloy Steel Market by Regions
6.5 Aluminum Market by Regions
6.7 Magnesium Market by Regions
6.8 Stainless Steel Market by Regions
6.9 Titanium Market by Regions
6.10. Others Market by Regions
7 . GLOBAL METAL FORGING MARKET ANALYSIS BY APPLICATION
7.1 Overview by Application
7.2 Historical and Forecast Data
7.3 Analysis by Application
7.4 Automotive Market by Regions
7.5 Aerospace Market by Regions
7.6 Oil & Gas Market by Regions
7.7 Construction Market by Regions
7.8 Agriculture Market by Regions
7.9 Others Market by Regions
8 . GLOBAL METAL FORGING MARKET ANALYSIS BY GEOGRAPHY
8.1. Regional Outlook
8.2. Introduction
8.3. North America
8.3.1. Overview, Historic and Forecast Data
8.3.2. North America By Segment
8.3.3. North America By Country
8.3.4. United State
8.3.5. Canada
8.3.6. Mexico
8.4. Europe
8.4.1. Overview, Historic and Forecast Data
8.4.2. Europe by Segment
8.4.3. Europe by Country
8.4.4. United Kingdom
8.4.5. France
8.4.6. Germany
8.4.7. Italy
8.4.8. Russia
8.4.9. Rest Of Europe
8.5. Asia Pacific
8.5.1. Overview, Historic and Forecast Data
8.5.2. Asia Pacific by Segment
8.5.3. Asia Pacific by Country
8.5.4. China
8.5.5. India
8.5.6. Japan
8.5.7. South Korea
8.5.8. Australia
8.5.9. Rest Of Asia Pacific
8.6. Latin America
8.6.1. Overview, Historic and Forecast Data
8.6.2. Latin America by Segment
8.6.3. Latin America by Country
8.6.4. Brazil
8.6.5. Argentina
8.6.6. Peru
8.6.7. Chile
8.6.8. Rest of Latin America
8.7. Middle East & Africa
8.7.1. Overview, Historic and Forecast Data
8.7.2. Middle East & Africa by Segment
8.7.3. Middle East & Africa by Country
8.7.4. Saudi Arabia
8.7.5. UAE
8.7.6. Israel
8.7.7. South Africa
8.7.8. Rest Of Middle East And Africa
9 . COMPETITIVE LANDSCAPE OF THE METAL FORGING COMPANIES
9.1. Metal Forging Market Competition
9.2. Partnership/Collaboration/Agreement
9.3. Merger And Acquisitions
9.4. New Product Launch
9.5. Other Developments
10 . COMPANY PROFILES OF METAL FORGING INDUSTRY
10.1. Company Share Analysis
10.2. Market Concentration Rate
10.3. Arconic Corp.
10.3.1. Company Overview
10.3.2. Financials
10.3.3. Products
10.3.4. Recent Developments
10.4. Bharat Forge Ltd.
10.4.1. Company Overview
10.4.2. Financials
10.4.3. Products
10.4.4. Recent Developments
10.5. ATI
10.5.1. Company Overview
10.5.2. Financials
10.5.3. Products
10.5.4. Recent Developments
10.6. Bruck GmbH
10.6.1. Company Overview
10.6.2. Financials
10.6.3. Products
10.6.4. Recent Developments
10.7. Ellwood Group, Inc.
10.7.1. Company Overview
10.7.2. Financials
10.7.3. Products
10.7.4. Recent Developments
10.8. Jiangyin Hengrun Heavy Industries Co., Ltd.
10.8.1. Company Overview
10.8.2. Financials
10.8.3. Products
10.8.4. Recent Developments
10.9. Kovárna Viva
10.9.1. Company Overview
10.9.2. Financials
10.9.3. Products
10.9.4. Recent Developments
10.10. Scot Forge
10.10.1. Company Overview
10.10.2. Financials
10.10.3. Products
10.10.4. Recent Developments
10.11. Thyssenkrupp Business Area Components Technology
10.11.1. Company Overview
10.11.2. Financials
10.11.3. Products
10.11.4. Recent Developments
10.12. Precision Castparts Corp.
10.12.1. Company Overview
10.12.2. Financials
10.12.3. Products
10.12.4. Recent Developments
10.13. China First Heavy Industries
10.13.1. Company Overview
10.13.2. Financials
10.13.3. Products
10.13.4. Recent Developments
10.14. Japan Casting & Forging Corp.
10.14.1. Company Overview
10.14.2. Financials
10.14.3. Products
10.14.4. Recent Developments
10.15. Nippon Steel Corp.
10.15.1. Company Overview
10.15.2. Financials
10.15.3. Products
10.15.4. Recent Developments
10.16. Precision Castparts Corp.
10.16.1. Company Overview
10.16.2. Financials
10.16.3. Products
10.16.4. Recent Developments
10.17. Larsen & Toubro Ltd.
10.17.1. Company Overview
10.17.2. Financials
10.17.3. Products
10.17.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Raw Material (Kilo Tons and USD MN)
- Carbon Steel Market by Geography (Kilo Tons and USD MN)
- Alloy Steel Market by Geography (Kilo Tons and USD MN)
- Aluminum Market by Geography (Kilo Tons and USD MN)
- Magnesium Market by Geography (Kilo Tons and USD MN)
- Stainless Steel Market by Geography (Kilo Tons and USD MN)
- Titanium Market by Geography (Kilo Tons and USD MN)
- Others Market by Geography (Kilo Tons and USD MN)
- Analysis Market by Application (Kilo Tons and USD MN)
- Automotive Market by Geography (Kilo Tons and USD MN)
- Aerospace Market by Geography (Kilo Tons and USD MN)
- Oil & Gas Market by Geography (Kilo Tons and USD MN)
- Construction Market by Geography (Kilo Tons and USD MN)
- Agriculture Market by Geography (Kilo Tons and USD MN)
- Others Market by Geography (Kilo Tons and USD MN)
- Global Metal Forging Market by Geography (Kilo Tons and USD MN)
- North America Market Analysis (Kilo Tons and USD MN)
- United State Market Analysis (Kilo Tons and USD MN)
- Canada Market Analysis (Kilo Tons and USD MN)
- Mexico Market Analysis (Kilo Tons and USD MN)
- Europe Market Analysis (Kilo Tons and USD MN)
- Europe Market Estimate by Country (Kilo Tons and USD MN)
- United Kingdom Market Analysis (Kilo Tons and USD MN)
- France Market Analysis (Kilo Tons and USD MN)
- Germany Market Analysis (Kilo Tons and USD MN)
- Italy Market Analysis (Kilo Tons and USD MN)
- Russia Market Analysis (Kilo Tons and USD MN)
- Spain Market Analysis (Kilo Tons and USD MN)
- Rest of Europe Market Analysis (Kilo Tons and USD MN)
- Asia Pacific Market Analysis (Kilo Tons and USD MN)
- China Market Analysis (Kilo Tons and USD MN)
- Japan Market Analysis (Kilo Tons and USD MN)
- India Market Analysis (Kilo Tons and USD MN)
- South Korea Market Analysis (Kilo Tons and USD MN)
- Australia Market Analysis (Kilo Tons and USD MN)
- Rest of Asia Pacific Market Analysis (Kilo Tons and USD MN)
- Latin America Market Analysis (Kilo Tons and USD MN)
- Brazil Market Analysis (Kilo Tons and USD MN)
- Argentina Market Analysis (Kilo Tons and USD MN)
- Peru Market Analysis (Kilo Tons and USD MN)
- Chile Market Analysis (Kilo Tons and USD MN)
- Rest of Latin America Market Analysis (Kilo Tons and USD MN)
- Middle East & Africa Market Analysis (Kilo Tons and USD MN)
- Saudi Arabia Market Analysis (Kilo Tons and USD MN)
- UAE Market Analysis (Kilo Tons and USD MN)
- Israel Market Analysis (Kilo Tons and USD MN)
- South Africa Market Analysis (Kilo Tons and USD MN)
- Rest of Middle East and Africa Market Analysis (Kilo Tons and USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Metal Forging Report
- Market Research Process
- Market Research Methodology
- Global Metal Forging Market Size, by Region (Kilo Tons and USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Raw Material
- Market Attractiveness Analysis by Application
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Raw Material (Kilo Tons and USD MN)
- Carbon Steel Market by Geography (Kilo Tons and USD MN)
- Alloy Steel Market by Geography (Kilo Tons and USD MN)
- Aluminum Market by Geography (Kilo Tons and USD MN)
- Magnesium Market by Geography (Kilo Tons and USD MN)
- Stainless Steel Market by Geography (Kilo Tons and USD MN)
- Titanium Market by Geography (Kilo Tons and USD MN)
- Others Market by Geography (Kilo Tons and USD MN)
- Global Market Analysis by Application (Kilo Tons and USD MN)
- Automotive Market by Geography (Kilo Tons and USD MN)
- Aerospace Market by Geography (Kilo Tons and USD MN)
- Oil & Gas Market by Geography (Kilo Tons and USD MN)
- Construction Market by Geography (Kilo Tons and USD MN)
- Agriculture Market by Geography (Kilo Tons and USD MN)
- Others Market by Geography (Kilo Tons and USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments