Forging Market: By Product, Application, Type, Region & Forecast, 2015 – 2021

Forging Market: By Product, Application, Type, Region & Forecast, 2015 – 2021

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According to the report, the global Forging market was valued at USD 57.42 billion in 2015 and is expected to reach USD 86.90 billion in 2021, growing at a CAGR of 7.2% between 2016 and 2021. There are three main types of forging such as the open die, closed die, and rolled rings. Depending upon the complexity of the material forging is carried out as open die forging or closed die. In open die forging, the metal is compressed by repeated blows by a mechanical hammer and shape is manipulated blows by a mechanical hammer and shape is manipulated manually.




According to the report, the global Forging market was valued at USD 57.42 billion in 2015 and is expected to reach USD 86.90 billion in 2021, growing at a CAGR of 7.2% between 2016 and 2021.

Forging is a process of controlled deformation of metal into a particular form by applying compressive forces. The forging process is advanced to casting process. In forging the parts formed have more defined grain patterns, less porosity, and denser microstructures which makes parts much stronger than a casting process. Every metal are forgeable, but each will have a forge ability rating from high to low or poor. The most forgeable materials are aluminum, copper, and magnesium. The fundamental types of forging process are open-die forging and impression or closed die forming. Forged metal components find in various applications in automotive, aerospace, construction, oil and gas, agriculture, shipbuilding, steel, bearing and power industries.

The global market for forging is expected to grow at a significant rate owing to growing automotive and aerospace industry worldwide. The aerospace industry is one of the top end-users in the forging market, as forged components are featured heavily to create commercial and defense aircraft. Furthermore, cost effective method of metal forming can boost the market growth in the upcoming years.  However, availability of alternate metal forming processes is expected to be a restraining factor for the forging market in the near future.

The forging market is segmented based on product, application, and geography. On the basis of product, the forging market is classified into rolled rings, open die and impression die. In 2015, the impression die segment was the dominant product segment in the forging market. Impression-die forging methodology is also commonly termed as closed die forging. Closed die forging method is extensively used in commercial forging processes owing to its extreme accuracy. Automotive and aerospace, especially the commercial aviation segment, are the two major end-users of impression die forging method.

On the basis of application, the forging industry is bifurcated into automotive, aerospace, oil and gas, and other applications. Growth in the automotive industry plays an essential role in boosting the demand for forged parts as it is the largest revenue contributor to the global forging market. The automotive sector is the leading application segment for this market, and it is expected to grow at a significant rate within the forecast period. Forged parts parameters such as reliability, strength, and economic viability have increased its importance in these industries.

Geographically, in 2015 forging market was dominated by Asia Pacific followed by Europe. The growth in the Asia-Pacific region is mainly attributed to growing demand for infrastructural development in emerging countries and the emergence of India as manufacturing hub for the automotive industry would propel the growth of the market in this region.

The global forging market is highly fragmented because of the presence of various small and large players. The providers in this market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. Recent trends suggest that major vendors are investing in R&D to explore avenues in the non-automotive sector to increase the market revenue. Key players in this market are Alcoa, American Axle & Manufacturing Holdings, Precision Castparts, Ellwood Group, ATI Ladish Forging, FRISA, General Dynamics Ordnance & Tactical Systems, HHI Forging, Scot Forge, Sumitomo, Sypris Solutions, ThyssenKrupp and Bharat Forge Limited.

Chapter 1. Preface

  • 1.1. Report description and scope
  • 1.2. Research scope
  • 1.3. Research methodology
    • 1.3.1. Market research process
    • 1.3.2. Market research methodology

Chapter 2. Executive Summary

  • 2.1. Global forging market, 2015 – 2021, (USD Billion)
  • 2.2. Forging: Market snapshot

Chapter 3. Forging Market: Industry Analysis

  • 3.1. Forging: Market dynamics
  • 3.2. Market Drivers
    • 3.2.1. Growing demand from automotive industry
    • 3.2.2. Cost effective method of metal forming
  • 3.3. Restraints
    • 3.3.1. Availability of alternate metal forming process
  • 3.4. Opportunity
    • 3.4.1. New technological developments
    • 3.4.2. Use of energy efficient and environment friendly techniques in forging
    • 3.4.3. Outsourcing forging utility
  • 3.5. Porter’s Five Forces Analysis
  • 3.6. Market Attractiveness Analysis
    • 3.6.1. Market attractiveness analysis by product3.6.2. Market attractiveness analysis by application
    • 3.6.3. Market attractiveness analysis by region

Chapter 4. Global Forging Market: Competitive Landscape

  • 4.1. Company Market Share Analysis
    • 4.1.1. Global forging market: company market share, 2015
  • 4.2. Strategic Development
    • 4.2.1. Acquisitions & Mergers
    • 4.2.2. New Resins Launch
    • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
    • 4.2.4. Research and Development, Resins and Regional Expansion
  • 4.3. Product Portfolio

Chapter 5. Global Forging Market: Product Overview

  • 5.1. Global forging market share, by product, 2015 and 2021
  • 5.2. Rolled Rings
    • 5.2.1. Global rolled rings forging market, 2015 – 2021 (USD Billion)
  • 5.3. Open Die
    • 5.3.1. Global open die forging market, 2015 – 2021 (USD Billion)
  • 5.4. Impression Die (close-die)
    • 5.4.1. Global impression die (close-die) forging market, 2015 – 2021 (USD Billion)

Chapter 6. Global Forging Market: Application Overview

  • 6.1. Global forging market share, by application, 2015 and 2021
  • 6.2. Automotive
    • 6.2.1. Global forging market for automotive, 2015 – 2021 (USD Billion)
  • 6.3. Aerospace
    • 6.3.1. Global forging market for aerospace, 2015 – 2021 (USD Billion)
  • 6.4. Oil & Gas
    • 6.4.1. Global forging market for oil & gas, 2015 – 2021 (USD Billion)
  • 6.5. Others
    • 6.5.1. Global forging market for other end users, 2015 – 2021 (USD Billion)

Chapter 7. Global Forging Market: Regional Analysis

  • 7.1. Global forging market: Regional overview
    • 7.1.1. Global forging market share, by region, 2015 and 2021
  • 7.2. North America
    • 7.2.1. North America forging market revenue, by product, 2015 – 2021 (USD Billion)
    • 7.2.2. North America forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.2.3. U.S.
      • 7.2.3.1. U.S. forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.2.3.2. U.S. forging market revenue, by application, 2015 – 2021 (USD Billion)
  • 7.3. Europe
    • 7.3.1. Europe forging market revenue, by product, 2015 – 2021 (USD Billion)
    • 7.3.2. Europe forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.3.3. UK
      • 7.3.3.1 UK forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.3.3.2 UK forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.3.4. France
      • 7.3.4.1 France forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.3.4.2 France forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.3.5. Germany
      • 7.3.5.1. Germany forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.3.5.2. Germany forging market revenue, by application, 2015 – 2021 (USD Billion)
  • 7.4. Asia Pacific
    • 7.4.1. Asia Pacific forging market revenue, by product, 2015 – 2021 (USD Billion)
    • 7.4.2. Asia Pacific forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.4.3. China
      • 7.4.3.1. China forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.4.3.2. China forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.4.4. Japan
      • 7.4.4.1. Japan forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.4.4.2. Japan forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.4.5. India
      • 7.4.5.1. India forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.4.5.2. India forging market revenue, by application, 2015 – 2021 (USD Billion)
  • 7.5. Latin America
    • 7.5.1. Latin America forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.5.1.1. Latin America forging market revenue, by application, 2015 – 2021 (USD Billion)
    • 7.5.2. Brazil
      • 7.5.2.1. Brazil forging market revenue, by product, 2015 – 2021 (USD Billion)
      • 7.5.2.2. Brazil forging market revenue, by application, 2015 – 2021 (USD Billion)
  • 7.6. Middle East & Africa
    • 7.6.1. Middle East & Africa forging market revenue, by product, 2015 – 2021 (USD Billion)
    • 7.6.2. Middle East & Africa forging market revenue, by application, 2015 – 2021 (USD Billion)

Chapter 8. Company Profiles

  • 8.1. Alcoa
    • 8.1.1. Overview
    • 8.1.2. Financials
    • 8.1.3. Resins portfolio
    • 8.1.4. Business strategy
    • 8.1.5. Recent developments
  • 8.2. American Axle & Manufacturing Holdings
    • 8.2.1. Overview
    • 8.2.2. Financials
    • 8.2.3. Resins portfolio
    • 8.2.4. Business strategy
    • 8.2.5. Recent developments
  • 8.3. Precision Castparts
    • 8.3.1. Overview
    • 8.3.2. Financials
    • 8.3.3. Resins portfolio
    • 8.3.4. Business strategy
    • 8.3.5. Recent developments
  • 8.4. Ellwood Group
    • 8.4.1. Overview
    • 8.4.2. Financials
    • 8.4.3. Resins portfolio
    • 8.4.4. Business strategy
    • 8.4.5. Recent developments
  • 8.5. ATI Ladish Forging
    • 8.5.1. Overview
    • 8.5.2. Financials
    • 8.5.3. Resins portfolio
    • 8.5.4. Business strategy
    • 8.5.5. Recent developments
  • 8.6. FRISA
    • 8.6.1. Overview
    • 8.6.2. Financials
    • 8.6.3. Resins portfolio
    • 8.6.4. Business strategy
    • 8.6.5. Recent developments
  • 8.7. General Dynamics Ordnance & Tactical Systems
    • 8.7.1. Overview
    • 8.7.2. Financials
    • 8.7.3. Resins portfolio
    • 8.7.4. Business strategy
    • 8.7.5. Recent developments
  • 8.8. HHI Forging
    • 8.8.1. Overview
    • 8.8.2. Financials
    • 8.8.3. Resins portfolio
    • 8.8.4. Business strategy
    • 8.8.5. Recent developments
  • 8.9. Scot Forge
    • 8.9.1. Overview
    • 8.9.2. Financials
    • 8.9.3. Resins portfolio
    • 8.9.4. Business strategy
    • 8.9.5. Recent developments
  • 8.10. Sumitomo
    • 8.10.1. Overview
    • 8.10.2. Financials 8.10.3. Resins portfolio
    • 8.10.4. Business strategy
    • 8.10.5. Recent developments
  • 8.11. Sypris Solutions
    • 8.11.1. Overview
    • 8.11.2. Financials
    • 8.11.3. Resins portfolio
    • 8.11.4. Business strategy
    • 8.11.5. Recent developments
  • 8.12. ThyssenKrupp
    • 8.12.1. Overview
    • 8.12.2. Financials
    • 8.12.3. Resins portfolio
    • 8.12.4. Business strategy
    • 8.12.5. Recent developments
  • 8.13. Bharat Forge Limited
    • 8.13.1. Overview
    • 8.13.2. Financials
    • 8.13.3. Resins portfolio
    • 8.13.4. Business strategy
    • 8.13.5. Recent developments

List of Figures

1. Global forging market segmentation by product, application, and geography
2. Global forging market, 2015 – 2021 (USD Billion)
3. Value chain analysis: Forging market
4. Porter’s five forces analysis: Forging market
5. Market attractiveness analysis by product
6. Market attractiveness analysis by application
7. Market attractiveness analysis by region
8. Global forging market : Company market share, 2015
9. Global forging market share, by product, 2015 -2021
10. Global rolled rings forging market, 2015 – 2021 (USD Billion)
11. Global open die forging market, 2015 – 2021 (USD Billion)
12. Global impression die (close-die) forging market, 2015 – 2021 (USD Billion)
13. Global forging market share, by application, 2015 -2021
14. Global forging market for general manufacturing, 2015 – 2021 (USD Billion)
15. Global forging market for automotive, 2015 – 2021 (USD Billion)
16. Global forging market for aerospace, 2015 – 2021 (USD Billion)
17. Global forging market for oil and gas, 2015 – 2021 (USD Billion)
18. Global forging market for other applications, 2015 – 2021 (USD Billion)
19. Global forging market share, by region, 2015 – 2021
20. North America forging market, 2015 – 2021, (USD Billion)
21. Europe forging market, 2015 – 2021, (USD Billion)
22. Asia Pacific forging market, 2015 – 2021, (USD Billion)
23. Latin America forging market, 2015-2021, (USD Billion)
24. Middle East & Africa forging market, 2015 – 2021, (USD Billion)


List of Tables

1. Global forging market snapshot
2. Drivers for forging market: Impact analysis
3. Restraints of forging market: Impact analysis
4. North America forging market revenue, by product, 2015 – 2021 (USD Billion)
5. North America forging market revenue, by application, 2015 – 2021 (USD Billion)
6. Europe forging market revenue, by product, 2015 – 2021 (USD Billion)
7. Europe forging market revenue, by application, 2015 – 2021 (USD Billion)
8. Asia Pacific forging market revenue, by product, 2015 – 2021 (USD Billion)
9. Asia Pacific forging market revenue, by application, 2015 – 2021 (USD Billion)
10. Latin America forging market revenue, by product, 2015 – 2021 (USD Billion)
11. Latin America forging market revenue, by application, 2015 – 2021 (USD Billion)
12. Middle East & Africa forging market revenue, by product, 2015 – 2021 (USD Billion)
13. Middle East & Africa forging market revenue, by application, 2015 – 2021 (USD Billion)

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