Global Forging Market 2020-2024 | Advantages of Forging over Other Fabrication Techniques to Boost Market Growth | Technavio

Technavio has published a latest market research report titled Global Forging Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The forging market is expected to grow by 14.14 million tons during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

The advantage of forging over other fabrication techniques is a major factor driving the market's growth. Forging results in the modification of internal gains metals. Under controlled conditions, the heated metal changes mechanically to make the desired products, which have uniform grain size and flow characteristics. This leads to the refinement of the forged metal and reduces its porosity. As a result, the final product obtained possesses superior mechanical and metallurgical properties as well as improved directional strength. Additionally, forged arts have improved structural integrity, which ensures optimum performance by part or component under field conditions. It is believed that forged parts can sustain any load, stress, or impact. Forging makes the metal tough, ductile, and capable of withstanding fatigue while also imparts uniformity to the grain flow.

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As per Technavio, the developments in robotics to enhance forging operations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Forging Market: Developments in Robotics to Enhance Forging Operations

Forging techniques for manufacturing components and parts are extensively used in industries such as automotive, aerospace, and medical. Automation is a key factor in achieving high productivity while also ensuring flexibility in lot sizes. Automation in the forging industry enables quick changeover between batches, enhances the volume of production, and results in improved manufacturing tolerances and improved product quality. Thus, recent advances in robotics have resulted in several benefits for designers of high-volume forging lines. Collision resistance is one such detailing, where robots use sensors to interact with other machines to avoid the possibility of contact while handling the workpiece. The sensors fitted in the robots allow them to eliminate the possibility of crashing with the other moving parts in the production process. Thus, the developments in robotics to enhance forging operations is expected to drive the growth of the market.

"The integration of IoT with forging technology and the advent of new hybrid forging techniques will have a positive impact on the growth of the forging market value during the forecast period," says a senior analyst at Technavio.

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Forging Market: Segmentation Analysis

This market research report segments the forging market by product (closed die forging, open die forging and seamless rings), end-user (automotive and others), and geography (North America, APAC, Europe, South America, and MEA).

The APAC region led the forging market in 2019, followed by Europe, North America, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to the strong growth in the production of automobiles.

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Some of the key topics covered in the report include:

Product segmentation

  • Closed die forging
  • Open die forging
  • Seamless rings

End-user segmentation

  • Automotive
  • Others

Geographic segmentation

  • North America
  • APAC
  • Europe
  • South America
  • MEA

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The forging market size has the potential to grow by 14.14 million t during 2020-2024


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200