Forging Market- Global Industry Insights, Trends, Outlook

1
Forging Market-  Global Industry Insights,
Trends, Outlook and Opportunity Analysis,
2017-2025
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REPORT DESCRIPTION
Forging Market Overview Forging refers to a
process of shaping the material by applying
compressive force manually by forging machines
or with the use of power hammers. Forging process
can be carried out on materials in either cold or
hot state. These forged parts include bolts,
connecting rods, turbine shafts, crane hooks,
hand tools, gears, and other components used in
machine manufacturing. These products offer
toughness, strength, stress, and are reliable
end-use industry such as automotive, mining, and
aerospace and various other applications. Forging
activities find diverse use in many industries
mainly in automotive, aerospace, and oil and gas
industries which in turn boosting the forging
market and is also anticipated to drive this
market over the forecast period. Global Forging
Market Taxonomy On the basis of type, the global
forging market is segmented as Open Die
Forging Closed Die Forging
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REPORT DESCRIPTION
Upset Forging Precision Die Forging Rotary
Forging Others The closed die forging segment
(impression die forging) is the dominant segment
in the global forging market and is anticipated
have a continuous growth over the forecast
period. This is due to its high dimensional
accuracy and fine surface finishing. The
aerospace and automotive industry are the biggest
end users of the closed die forging method. The
automotive segment is accounted to have the
largest share in the global forging market. Low
fuel rates and interest rates are the key factors
driving the growth of automotive industry of the
forging market. Similarly, custom forging is
witnessed as the dominant segment amongst the
order types owing to its immense use in
submarines, refineries, space crafts, missiles,
pressure vessels, offshore rigs, scientist
research equipment, and some others. Request
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REPORT DESCRIPTION
Global Forging Market Outlook Asia Pacific is
projected to be the dominant region in the global
forging market having the largest market share in
the world followed by North America. Development
in infrastructure, advancement in automotive and
construction industries in the emerging economies
and recognition of the emerging country such as
India as the manufacturing hub is propelling the
growth of forging market in this region.
Moreover, the burgeoning outsourcing of forging
activity backed by government initiatives have
contributed to the growth of forging market in
this region. China, is the key producer of
forging products in this region. North America
has witnessed a burgeoning growth in the global
forging market. One of the main reasons behind
the growth is due to the increasing demand for
rolled ring forging which is ruling the aerospace
industry of this region. According to the Forging
Industry Association, forging appears in the 20
of products which represents the GDP of U.S. To
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