(EMAILWIRE.COM, September 12, 2017 ) Publisher predicts the global forging market to exhibit a healthy CAGR of around 8% during the forecast period. Forging is an appropriate substitution to the casting methodology as it ensures greater efficiency, reliability, and precision. Custom forging accounts for the largest segment. In North America, this segment achieves sales figures worth $6 billion annually. Some of the major end-users of the forging industry include automotive, aerospace and defense, agriculture, construction, mining, general industrial equipment, and material handling equipment to name a few.

This industry research report outlines the automotive sector as the major end-user for the forging market. Characteristics associated with forged parts such as reliability, strength, and economic viability have increased the importance of the use of forged parts in this sector. But with the automotive industry reaching a mature stage in the forging market, it is expected that other non-automotive sectors will mostly contribute to the growth of the global forging market until 2020.

For more information http://www.reportsweb.com/global-forging-market-2016-2020

Technology segmentation and analysis of the global forging market

Impression die
Open die
Rolled ring
The impression die segment is the most dominant type of technology being used in the market. Impression-die forging methodology is also commonly termed as closed die forging. This method is most widely used in commercial forging processes due to its extreme dimensional accuracy and fine surface finish. Automotive and aerospace, especially the commercial aviation segment, are the two biggest end-users of impression die forging methodology.

End-user segmentation and analysis of the global forging market

Automotive
Non-automotive
Growth in the automotive industry plays a crucial role in boosting demand for forged products as it is the largest revenue contributor of the global forging market. The automotive sector is the leading end-user segment for this market, and it is expected to grow at a CAGR of around 7% during the forecast period. Parameters such as reliability, strength, and economic viability have increased the importance of forged parts in this sector.

Geographical segmentation and analysis of the forging market

Americas
APAC
EMEA
APAC accounts for the largest share of the forging industry, contributing about 61% of the total revenue generated. It is estimated to grow at a CAGR of around 9% during the forecast period. Increasing outsourcing of forging activities to low-cost countries in the region is expected to drive this regional market. Demand for infrastructural development in developing countries and the emergence of India as the manufacturing hub for the automotive industry will propel the growth of the market in this region.

Request Sample Copy http://www.reportsweb.com/inquiry&RW0001202278/sample

Competitive landscape and key vendors

The global forging market is highly fragmented because of the presence of numerous small and large vendors. 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.

The leading vendors in the market are -

Alcoa
ATI
Bharat Forge
Nippon Steel and Sumitomo Metal
ThyssenKrupp
The other prominent vendors of the market include Aichi Steel, KITZ, Mahindra Forging, Schuler Group, and SNT.

Make an enquiry: http://www.reportsweb.com/inquiry&RW0001202278/buying

Contact Information:
ReportsWeb.com
Rajat Sahni
Tel: +1-646-491-9876
Email us


----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results