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Global Metal Forging Market: By Metal: Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium; By Application: Automotive, Aerospace, Oil and Gas, Construction, Agriculture; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Metal Forging Market Outlook
The global metal forging market reached a value of nearly USD 80 billion in 2020. The metal forging market is further projected to grow at a CAGR of 8% between 2021 and 2026.
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One of the key growth drivers for boosting the product demand is the aerospace industry. The increasing aircraft production, along with the increasing passenger traffic, is expected to support the industry growth in the forecast period.
Market Segmentation
Forging is a process of manufacturing using localised compression forces to shape metal. Forging is often classified by the temperature at which it takes place: cold forging, warm forging, or hot forging.
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The global metal forging market can be divided based on segments like metal and application.
The industry can be divided based on its metal like carbon steel, alloy steel, aluminium, magnesium, stainless steel, and titanium, among others.
The industry can be broadly categorised based on its applications into:
- Automotive
- Aerospace
- Oil and Gas
- Construction
- Agriculture
- Others
The EMR report looks into the regional metal forging markets like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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Market Analysis
The global metal forging market is driven by its growing global demand in the aerospace industry. Over the forecast period, the Asia Pacific is expected to account for more than 52% of the new passenger surge. This is projected to drive the demand for the production of aircraft and in turn, boost the demand for metal forging. Factors like the adoption of new materials, including high-performance and special alloys and R&D for new production methods, are expected to boost the industry’s growth. The growing construction industry is a significant factor driving the demand for construction equipment, thus fuelling the use of forged metal.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global metal forging market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Bharat Forge Limited
- China First Heavy Machinery Co., Ltd
- Nippon Steel Corporation
- Allegheny Technologies (ATI)
- Bruck GmbH
- Jiangyin Hengrun Heavy Industries Co., Ltd
- Arconic Corporation
- Others
The EMR report gives an in-depth insight into the metal forging market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Metal, Application, Region |
| Breakup by Metal | Carbon Steel, Alloy steel, Aluminum, Magnesium, Stainless steel, Titanium, Others |
| Breakup by Application | Automotive, Aerospace, Oil & Gas, Construction, Agriculture, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Bharat Forge Limited, China First Heavy Machinery Co., Ltd, Nippon Steel Corporation Allegheny Technologies (ATI), Bruck GmbH, Jiangyin Hengrun Heavy Industries Co., Ltd., Arconic Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Metal Forging Market Analysis
8.1 Key Industry Highlights
8.2 Global Metal Forging Historical Market (2017-2021)
8.3 Global Metal Forging Market Forecast (2022-2027)
8.4 Global Metal Forging Market by Metal
8.4.1 Carbon Steel
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Alloy Steel
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Aluminum
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Magnesium
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.5 Stainless Steel
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2017-2021)
8.4.5.3 Forecast Trend (2022-2027)
8.4.6 Titanium
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2017-2021)
8.4.6.3 Forecast Trend (2022-2027)
8.4.7 Others
8.5 Global Metal Forging Market by Application
8.5.1 Automotive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Aerospace
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Oil and Gas
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Construction
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Agriculture
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Others
8.6 Global Metal Forging Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Bharat Forge Limited
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 China First Heavy Machinery Co., Ltd
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Nippon Steel Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Allegheny Technologies (ATI)
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Bruck GmbH
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Jiangyin Hengrun Heavy Industries Co., Ltd.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Arconic Corporation
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Metal Forging Market: Key Industry Highlights, 2017 and 2027
2. Global Metal Forging Historical Market: Breakup by Metal (USD Billion), 2017-2021
3. Global Metal Forging Market Forecast: Breakup by Metal (USD Billion), 2022-2027
4. Global Metal Forging Historical Market: Breakup by Application (USD Billion), 2017-2021
5. Global Metal Forging Market Forecast: Breakup by Application (USD Billion), 2022-2027
6. Global Metal Forging Historical Market: Breakup by Region (USD Billion), 2017-2021
7. Global Metal Forging Market Forecast: Breakup by Region (USD Billion), 2022-2027
8. North America Metal Forging Historical Market: Breakup by Country (USD Billion), 2017-2021
9. North America Metal Forging Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Europe Metal Forging Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Europe Metal Forging Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Asia Pacific Metal Forging Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Asia Pacific Metal Forging Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Latin America Metal Forging Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Latin America Metal Forging Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Middle East and Africa Metal Forging Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Middle East and Africa Metal Forging Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Global Metal Forging Market Structure
Key Questions Answered in the Report
In 2020, the global metal forging market attained a value of nearly USD 80 billion.
The market is projected to grow at a CAGR of 8% between 2021 and 2026.
The major drivers of the industry such as increase in the number of passengers travelling by air, growing demand for vehicles, rising disposable incomes, growing construction activities, and growing end use sectors are expected to aid the market growth.
The key market trends guiding the growth of the market include the growing technological advancements, particularly in the aerospace and automotive industry, the rising adoption of high-performance materials and special alloys, and the growing R&D activities.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Carbon steel, alloy steel, aluminium, magnesium, stainless steel, and titanium, among others, are the leading metal segments in the industry.
The major application segments include industries like automotive, aerospace, oil and gas, construction, and agriculture, among others.
The major players in the industry are Bharat Forge Limited, China First Heavy Machinery Co., Ltd, Nippon Steel Corporation, Allegheny Technologies (ATI), Bruck GmbH, Jiangyin Hengrun Heavy Industries Co. Ltd., Arconic Corporation, Others.
Analyst Review
The global metal forging market attained a value of USD 80 billion in 2020, driven by the growing demand for metal forging in the automotive and aerospace industries. Aided by the technological advancements and growing preference for high-performance materials, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 8%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on metal, the metal forging industry can be segmented into carbon steel, alloy steel, aluminium, magnesium, stainless steel, and titanium, among others. On the basis of application, the industry is divided into automotive, aerospace, oil and gas, construction, and agriculture, among others. The major regional markets for metal forging are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Bharat Forge Limited, China First Heavy Machinery Co., Ltd, Nippon Steel Corporation, Allegheny Technologies (ATI), Bruck GmbH, Jiangyin Hengrun Heavy Industries Co. Ltd., Arconic Corporation, Others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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