DUBLIN--(BUSINESS WIRE)--The "Global Aluminum Forging Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The overall aluminum forging market worldwide was valued at US$ 11.60 Bn in 2018 and is set to grow with a CAGR of 5.4% during the forecast period.
Growing demand for lightweight materials in the aerospace and automotive industries is driving the growth of aluminum forging market. Aluminum forging is a manufacturing process in which aluminum is pressed, squeezed below heavy pressure for producing high strength parts. Growth of the forging market worldwide is one of the major growth factors which are driving growth for the aluminum forging market.
The global forging market is valued at around US$ 65.00 Bn in 2018. On account of durability, high strength, resistance, and other benefits, the demand for aluminum forging is growing which in turn helping the aluminum forging market to grow. Therefore, we expect that the aluminum forging market will show healthy growth during the forecast period.
Based on the application, in 2018, the automotive segment was the largest value contributor in the global aluminum forging market. The aforementioned segment has above 35% revenue share in the same year. Growth in automotive production and the wide application of aluminum in modern vehicles are the major factors for the growth of the segment. In 2018, the global automotive industry consumed over 3.5 Mn tons of aluminum.
Based on the geography, Asia Pacific was the largest value contributor in the aluminum forging market in 2018. The Asia Pacific has nearly 1/3rd share in the same year. The growing automotive and construction industry are the major growth driving factors for the aluminum forging market in the Asia Pacific.
Developing economies of the Asia Pacific such as China and India will be the major contributor in the region owing to growth in the adoption of forging techniques in the manufacturing industry. Hefty investments and government initiatives for increasing manufacturing in the region are one of the major growth factors for the aluminum forging market. Consequently, we expect that the Asia Pacific region will continue its dominance throughout the forecast period.
Key Topics Covered:
2 Executive Summary
2.1 Market Snapshot: Global Aluminum Forging Market
2.1.1 Global Aluminum Forging Market, by Product Type, 2018 (US$ Mn)
2.1.2 Global Aluminum Forging Market, by Application, 2018 (US$ Mn)
2.1.3 Global Aluminum Forging Market, by Geography, 2018 (US$ Mn)
3 Market Dynamics
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraint
3.3 Attractive Investment Proposition, by Geography, 2018
3.4 Market Positioning of Key Aluminum Forging Manufacturers, 2018
4 Global Aluminum Forging Market, by Product Type
4.2 Open Die Forging
4.3 Close Die Forging
4.4 Ring Rolled Forging
5 Global Aluminum Forging Market, by Application
5.5 Others (Construction, Mining, etc.)
6 North America Aluminum Forging Market Analysis, 2017 - 2027 (US$ Mn)
6.2 North America Aluminum Forging Market Analysis, by Product Type, 2017 - 2027 (US$ Mn)
6.2.1 Market Analysis
6.3 North America Aluminum Forging Market Analysis, by Application, 2017 - 2027 (US$ Mn)
6.3.1 Market Analysis
6.4 North America Aluminum Forging Market, by Country, 2017 - 2027 (US$ Mn)
6.4.1 Market Analysis
6.4.3 Rest of North America
7 Europe Aluminum Forging Market Analysis, 2017 - 2027 (US$ Mn)
8 Asia Pacific Aluminum Forging Market Analysis, 2017 - 2027 (US$ Mn)
9 Rest of the World (RoW) Aluminum Forging Market Analysis, 2017 - 2027 (US$ Mn)
10 Company Profiles
10.1 Aichi Steel
10.2 Alcoa Corporation
10.3 Bharat Forge Limited
10.4 Nippon Steel Corporation
10.5 thyssenkrupp AG
10.6 Aluminum Precision Products
10.7 American Handforge
10.8 KITZ CORPORATION
10.9 Ellwood Group Inc.
10.10 Arconic Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mi33h6