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Forging is a manufacturing process involving the shaping of metal using localized compressive forces. The blows are delivered with a hammer (often a power hammer) or a die. Forging is often classified according to the temperature at which it is performed: cold forging (a type of cold working), warm forging, or hot forging (a type of hot working). For the latter two, the metal is heated, usually in a forge. Forged parts can range in weight from less than a kilogram to hundreds of metric tons. Forging has been done by smiths for millennia; the traditional products were kitchenware, hardware, hand tools, edged weapons, cymbals, and jewellery. Since the Industrial Revolution, forged parts are widely used in mechanisms and machines wherever a component requires high strength; such forgings usually require further processing (such as machining) to achieve a finished part. Today, forging is a major worldwide industry.
Scope of the Report:
The global average price of automotive forging products is in the decreasing trend, from 2271 USD/MT in 2013 to 2164 USD/MT in 2017. With the situation of raw material, prices will be in increasing trend in the following five years. In terms of raw material, the segments of the global automotive forging market include aluminum, copper/brass/bronze, low-carbon & low-alloy steels, special alloy steel, stainless steel.
The segments of the global automotive forging market on the basis of type are closed die, open die, and rolled rings. Amongst them, the segment of closed die dominates in terms of revenue and the trend is expected to continue over the forecast period. This is due to the par excellence performance and finish of products that are obtained using this process.
The key application segments of the global automotive forging market covered in this report are powertrain components, chassis components, transmission parts and other part. Amongst all, powertrain components are the leading application segment of the market. The leading share of the powertrain components segment is ascribed to the expansion of the automobile industry to cater to the high demand for automobiles. The powertrain components segment held almost 48.21% of the global automotive forging market in terms of volume in 2017.
Geography-wise, the global automotive forging market is segmented into North America, Europe, Asia Pacific (China, India, Japan, etc.). In the years ahead, Asia Pacific is expected to display the leading growth amongst other key regions. The growth of the region is mainly driven by the development of automotive industries. Emerging economies of the region are major consumers of forged metal for the rising urbanization and industrialization in these regions.
The capital-intensive nature of the global automotive forging market accounts for the clear dominance of well-entrenched players that operate in international markets. This poses challenge for small players that compete with large players with respect to quality, features, functionalities, and services. The use of newer technologies by large players to add qualitative value to existing products will further add to the woes of small players.
The worldwide market for Forging is expected to grow at a CAGR of roughly 5.4% over the next five years, will reach 52000 million US$ in 2024, from 38000 million US$ in 2019, according to a new GIR (Global Info Research) study.
This report focuses on the Forging in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Market Segment by Manufacturers, this report covers
- Nippon Steel & Sumitomo Metal
- Aichi Steel
- Thyssenkrupp
- AAM
- Bharat Forge Limited
- KOBELCO
- WanXiang
- FAW
- Arconic
- Mahindra Forgings Europe
- Farinia Group
- Longcheng Forging
- Sinotruck
- Dongfeng Forging
- Jiangsu Pacific Precision Forging
- Sypris Solutions
- Ashok Leyland Limited
- Allegheny Technologies
- VDM Metals
- CITIC Heavy Industries
Market Segment by Regions, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Closed Die Forgings
- Open Die Forgings
- Rolled Rings Forgings
Market Segment by Applications, can be divided into
- Powertrain Components
- Chassis Components
- Transmission Parts
- Other Parts
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Forging product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Forging, with price, sales, revenue and global market share of Forging in 2017 and 2018.
Chapter 3, the Forging competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Forging breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Forging market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Forging sales channel, distributors, customers, research findings and conclusion, appendix and data source.