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Metal Forging Market Size, Share & Trends Analysis Report By Raw Material (Carbon Steel, Alloy Steel), By Application (Automotive, Aerospace), By Region, And Segment Forecasts, 2019 - 2025

Published: Jul, 2019 | Pages: 126 | Publisher: Grand View Research
Industry: Materials | Report Format: Electronic (PDF)

The global metal forging market size is expected to reach USD 131.32 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 7.6% during the forecast period. Growth of the automotive industry is expected to be one of the key market drivers.

Lightweight forging is expected to remain a key focus area in the automotive sector. Strict emission policies have forced automakers to double the share of lightweight components in automobiles. Under the European Union Legislation regarding carbon dioxide emissions, manufacturers must follow the criteria of 95 g/km of threshold value by 2021. Similar legislation is being adopted by many countries including U.S., China, India, Japan, and Brazil. The ability of the forging process to manufacture lightweight auto parts for applications such as combustion engine and transmission is anticipated to fuel growth.

The government of India has developed an Automotive Mission Plan 2016-2026 (AMP 2026) to boost the automotive sector in the country. This plan is projected to help multiple stakeholders inside and outside India including auto component, automotive vehicle, and tractor manufacturers. As per the objective of this plan, the Indian auto sector is anticipated to grow at 3.5 to 4 times the current value of USD 74 billion by 2026. The government is also planning to scale up the exports in this sector by 30% to 40% over the coming decade.

Increasing expenditure in the defense sector is expected to drive the product demand over the coming years.As per the U.S. administration, the U.S. government signed a USD 1.3 trillion spending bill in March 2018. A value of USD 160 billion was allocated to boost the defense sector in the country over the next two years. These initiatives by the government are likely to facilitate the demand for forged components in military aircraft.

Various processes used for manufacturing of agriculture forged parts include closed die forgings, steel forgings, drop forgings, and custom forgings. Forged parts include connecting rods, gear bodies, flanges, chain links, pistons, shafts, and spindle rods. Rising demand for forgings in this application is largely attributed to the developing economies such as India and Brazil. These countries are modernizing their agricultural equipment to attain a greater level of growth in terms of productivity and efficiency.

Further key findings from the report suggest:

• In terms of revenue, automotive segment is anticipated to reach USD 60.11 billion by 2025. The growth is attributed to the increasing demand for forged parts used in combustion engine and powertrain, especially in China and India

• Carbon steel segment dominated the global industry with a revenue share of 44.3% in 2018 on account of easy availability and low prices compared to other materials

• In terms of revenue, titanium segment is likely to observe the highest CAGR of 9.0% from 2019 to 2025. Increasing R&D activities for development of new titanium alloys is the key driver

• Asia Pacific accounted for the highest market share in terms of both volume and revenue. High automotive production and consumption in the region are likely to boost the demand

• In terms of revenue, Europe is projected to witness a significant CAGR of 6.3% over the forecast period. Steady growth in the automotive sector in Germany is likely to positively influence the product demand

• Some of the global companies present in the metal forging market are Arconic, Larsen & Toubro Limited, Bharat Forge Ltd. and Nippon Steel Corp. Numerous vendors are adopting capacity expansion and new product development as their key strategy
 Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Market segmentation & scope
                   1.2 Market definition
                   1.3 List of data sources
                   1.4 Information procurement
                   1.5 Information analysis
                   1.6 Market formulation & data visualization
                   1.7 Data validation & publishing
Chapter 2 Executive Summary
                   2.1 Market outlook
                   2.2 Segmental outlook
                   2.3 Segmental outlook
                   2.4 Competitive Insights
Chapter 3 Metal Forging Market Variables, Trends, & Scope
                   3.1 Market outlook
                       3.1.1 Global metal forging market
                   3.2 Penetration & growth prospect mapping
                   3.3 Industry value chain analysis
                       3.3.1 Manufacturing trends
                       3.3.2 Raw material trends
                       3.3.3 Sales channel analysis
                   3.4 Regulatory framework
                       3.4.1 Product classification codes
                       3.4.2 Standard and compliances
                       3.4.3 Safety
                   3.5 Market dynamics
                       3.5.1 Market driver analysis
                           3.5.1.1 Rising demand from automotive sector
                           3.5.1.2 Growth of aerospace & defense sector
                       3.5.2 Market Restraint Analysis
                           3.5.2.1 Capital requirements and competition from casting industry
                   3.6 Business environment analysis: Market
                       3.6.1 Industry analysis - Porter's
                       3.6.2 PESTEL analysis
Chapter 4 Metal Forging Market: Raw Material Estimates & Trend Analysis
                   4.1 Definition & scope
                   4.2 Raw material movement analysis & market share, 2018 & 2025
                   4.3 Carbon Steel
                       4.3.1 Market estimates and forecasts by carbon steel, 2014 - 2025 (Kilotons) (USD Million)
                   4.4 Alloy steel
                       4.4.1 Market estimates and forecasts by alloy steel, 2014 - 2025 (Kilotons) (USD Million)
                   4.5 Aluminum
                       4.5.1 Market estimates and forecasts by aluminum, 2014 - 2025 (Kilotons) (USD Million)
                   4.6 Magnesium
                       4.6.1 Market estimates and forecasts by magnesium 2014 - 2025 (Kilotons) (USD Million)
                   4.7 Stainless steel
                       4.7.1 Market estimates and forecasts by stainless steel 2014 - 2025 (Kilotons) (USD Million)
                   4.8 Titanium
                       4.8.1 Market estimates and forecasts by titanium, 2014 - 2025 (Kilotons) (USD Million)
                   4.9 Others
                       4.9.1 Market estimates and forecasts by other applications 2014 - 2025 (Kilotons) (USD Million)
Chapter 5 Metal Forging Market: Application Estimates & Trend Analysis
                   5.1 Definition & scope
                   5.2 Application movement analysis & market share, 2018 & 2025
                   5.3 Automotive
                       5.3.1 Market estimates and forecasts in automotive, 2014 - 2025 (Kilotons) (USD Million)
                   5.4 Aerospace
                       5.4.1 Market estimates and forecasts in aerospace, 2014 - 2025 (Kilotons) (USD Million)
                   5.5 Oil & gas
                       5.5.1 Market estimates and forecasts in oil & gas, 2014 - 2025 (Kilotons) (USD Million)
                   5.6 Construction
                       5.6.1 Market estimates and forecasts in construction, 2014 - 2025 (Kilotons) (USD Million)
                   5.7 Agriculture
                       5.7.1 Market estimates and forecasts in agriculture, 2014 - 2025 (Kilotons) (USD Million)
                   5.8 Others
                       5.8.1 Market estimates and forecasts in other applications, 2014 - 2025 (Kilotons) (USD Million)
Chapter 6 Metal Forging: Regional Estimates & Trend Analysis
                   6.1 Regional market snapshot
                   6.2 Definition & scope
                   6.3 Regional movement analysis, 2018 & 2025
                   6.4 North America
                       6.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                       6.4.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                       6.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                       6.4.4 U.S.
                           6.4.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                           6.4.4.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                           6.4.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                   6.5 Europe
                       6.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                       6.5.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                       6.5.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                       6.5.4 Germany
                           6.5.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                           6.5.4.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                           6.5.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                       6.5.5 U.K.
                           6.5.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                           6.5.5.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                           6.5.5.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                   6.6 Asia Pacific
                       6.6.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                       6.6.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                       6.6.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                       6.6.4 China
                           6.6.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                           6.6.4.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                           6.6.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                       6.6.5 India
                           6.6.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                           6.6.5.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                           6.6.5.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                   6.7 Central & South America
                       6.7.1 Metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                       6.7.2 Metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                       6.7.3 Metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                       6.7.4 Brazil
                           6.7.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                           6.7.4.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                           6.7.4.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
                   6.8 Middle East & Africa
                       6.8.1 Market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
                       6.8.2 Market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons) (USD Million)
                       6.8.3 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons) (USD Million)
Chapter 7 Competitive Analysis
                   7.1 Key global players & recent developments & their impact on the industry
                   7.2 Strategy framework
                   7.3 Vendor landscape
                       7.3.1 List of key players/suppliers in the industry
                       7.3.2 List of potential customers
                   7.4. SWOT analysis (for key public companies)
                       7.4.1 Arconic
                       7.4.2 Larsen & Turbo Ltd.
                       7.4.3 Nippon Steel Corp.
Chapter 8 Company Profiles
                   8.1 Arconic
                       8.1.1 Company Overview
                       8.1.2 Financial Performance
                       8.1.3 Product Benchmarking
                       8.1.4 Recent Developments
                   8.2 ATI
                       8.2.1 Company Overview
                       8.2.2 Financial Performance
                       8.2.3 Product Benchmarking
                       8.2.4 Recent Developments
                   8.3 Bharat Forge Ltd.
                       8.3.1 Company Overview
                       8.3.2 Financial Performance
                       8.3.3 Product Benchmarking
                       8.3.4 Recent Developments
                   8.4 Bruck GmbH
                       8.4.1 Company Overview
                       8.4.2 Product Benchmarking
                   8.5 China First Heavy Industries
                       8.5.1 Company Overview
                       8.5.2 Product Benchmarking
                       8.5.3 Recent Developments
                   8.6 ELLWOOD Group Inc.
                       8.6.1 Company Overview
                       8.6.2 Product Benchmarking
                       8.6.3 Recent Developments
                   8.7 JAPAN CASTING & FORGING CORP.
                       8.7.1 Company Overview
                       8.7.2 Product Benchmarking
                   8.8 Jiangyin Hengrun Heavy Industries Co., Ltd
                       8.8.1 Company Overview
                       8.8.2 Product Benchmarking
                   8.9 NIPPON STEEL CORPORATION
                       8.9.1 Company Overview
                       8.9.2 Financial Performance
                       8.9.3 Product Benchmarking
                       8.9.4 Recent Developments
                   8.10 Precision Castparts Corp.
                       8.10.1 Company Overview
                       8.10.2 Product Benchmarking
                   8.11 Kovárna VIVA
                       8.11.1 Company Overview
                       8.11.2 Product Benchmarking
                   8.12 LARSEN & TOUBRO LIMITED
                       8.12.1 Company Overview
                       8.12.2 Financial Performance
                       8.12.3 Product Benchmarking
                   8.13 Scot Forge
                       8.13.1 Company Overview
                       8.13.2 Product Benchmarking
                   8.14 thyssenkrupp Business Area Components Technology
                       8.14.1 Company Overview
                       8.14.2 Financial Performance
                       8.14.3 Product Benchmarking
                       8.14.4 Recent Developments
List of Tables

Table 1 Metal forging market estimates and forecasts by carbon steel, 2014 - 2025 (Kilotons) (USD Million)
Table 2 Metal forging market estimates and forecasts by alloy steel, 2014 - 2025 (Kilotons) (USD Million)
Table 3 Metal forging market estimates and forecasts by aluminum, 2014 - 2025 (Kilotons) (USD Million)
Table 4 Metal forging market estimates and forecasts by magnesium, 2014 - 2025 (Kilotons) (USD Million)
Table 5 Metal forging market estimates and forecasts by stainless steel, 2014 - 2025 (Kilotons) (USD Million)
Table 6 Metal forging market estimates and forecasts by titanium 2014 - 2025 (Kilotons) (USD Million)
Table 7 Metal forging market estimates and forecasts by other applications, 2014 - 2025 (Kilotons) (USD Million)
Table 8 Metal forging market estimates and forecasts in automotive, 2014 - 2025 (Kilotons) (USD Million)
Table 9 Metal forging market estimates and forecasts in aerospace, 2014 - 2025 (Kilotons) (USD Million)
Table 10 Metal forging market estimates and forecasts in oil & gas, 2014 - 2025 (Kilotons) (USD Million)
Table 11 Metal forging market estimates and forecasts in construction, 2014 - 2025 (Kilotons) (USD Million)
Table 12 Metal forging market estimates and forecasts in agriculture, 2014 - 2025 (Kilotons) (USD Million)
Table 13 Metal forging market estimates and forecasts in other applications, 2014 - 2025 (Kilotons) (USD Million)
Table 14 North America metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 15 North America metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 16 North America metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 17 North America metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 18 North America metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 19 U.S. metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 20 U.S. metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 21 U.S. metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 22 U.S. metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 23 U.S. metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 24 Europe metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 25 Europe metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 26 Europe metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 27 Europe metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 28 Europe metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 29 Germany metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 30 Germany metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 31 Germany metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 32 Germany metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 33 Germany metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 34 U.K. metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 35 U.K. metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 36 U.K. metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 37 U.K. metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 38 U.K. metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 39 Asia Pacific metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 40 Asia Pacific metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 41 Asia Pacific metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 42 Asia Pacific metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 43 Asia Pacific metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 44 China metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 45 China metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 46 China metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 47 China metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 48 China metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 49 India metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 50 India metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 51 India metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 52 India metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 53 India metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 54 Central & South America metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 55 Central & South America metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 56 Central & South America metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 57 Central & South America metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 58 Central & South America metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 59 Brazil metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 60 Brazil metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 61 Brazil metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 62 Brazil metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 63 Brazil metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million)
Table 64 Middle East & Africa metal forging market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 65 Middle East & Africa metal forging market estimates and forecasts, by raw material, 2014 - 2025 (Kilotons)
Table 66 Middle East & Africa metal forging market estimates and forecasts, by raw material, 2014 - 2025 (USD Million)
Table 67 Middle East & Africa metal forging market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 68 Middle East & Africa metal forging market estimates and forecasts, by application, 2014 - 2025 (USD Million) 


List of Figures

Fig. 1 Metal forging market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market outlook
Fig. 7 Application segment outlook
Fig. 8 Raw material segment outlook
Fig. 9 Competitive insights
Fig. 10 Metal forging market volume & revenue, 2014 - 2025 (Kilotons) (USD Million)
Fig. 11 Value chain analysis
Fig. 12 Share of world crude steel production (percentage), 2017 vs 2018
Fig. 13 World smelter production of aluminum (metric tons), 2017 vs 2018
Fig. 14 Global nickel consumption, by application (%)
Fig. 15 Global nickel consumption (percentage), by end-use industry
Fig. 16 Market driver analysis
Fig. 17 Forecasted production of lightweight vehicles, region wise, 2016 - 2024 (Million units)
Fig. 18 Production of general aviation aircraft in the U.S., 2014 - 2017 (Units)
Fig. 19 Market restraint analysis
Fig. 20 Porter's analysis
Fig. 21 PESTEL analysis
Fig. 22 Metal forging market: Raw material movement analysis, 2018 & 2025
Fig. 23 Metal forging market: Application movement analysis, 2018 & 2025
Fig. 24 Metal forging market: Regional snapshot
Fig. 25 Metal forging market: Regional movement analysis, 2018 & 2025
Fig. 26 Strategy Framework
Fig. 27 SWOT Analysis Arconic
Fig. 28 SWOT Analysis Larsen & Turbo Ltd.
Fig. 29 SWOT Analysis Nippon Steel Corp

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