Global Metal forging Market: Overview
Industries where reliability, dependability, and human safety are top priority, forgings find wide use in those industrial premises. Parts and components that are developed through the metal forging procedure are stronger than the ones that are produced through other processes of metalworking like sintering, forming, or casting. Metal forgings are a significant procedure for various industries like airplanes, automobiles, defense, ships, and oil-drilling equipment.
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The global metal forging market is divided on the basis of raw materials, application and region. It is expected that the segment of raw materials will be led by carbon steel during the forecast period and automotive would drive the application segment.
Global Metal forging Market: Notable Developments
The global metal forging market has witnessed some developments over the years. These developments exhibit the changing dynamics of the market. One such development is mentioned below:
- In June 2017, Pennsylvania-based Ellwood Group Inc. took over Gulfco Forge Company LLC. The latter is a renowned manufacturer of rolled rings and open die forging and is based out of Texas. This strategic move by Ellwood Group Inc. was meant to supply top-notch forged products across the U.S. and expand their business in the overall market of metal forging.
Some of the well-established market players of the global metal forging market are
- American Axle & Manufacturing Holdings,
- Bharat Forge Limited
- Nippon Steel & Sumitomo Metal
- Larsen & Toubro Limited
- Allegheny Technologies Incorporated
Global Metal forging Market: Growth Drivers
apid Expansion of the