– Global Market Outlook (2017-2026)” report has been added to ResearchAndMarkets.com’s
The Global Forging Market accounted for $67,886.39 million in 2017 and
is expected to reach $110,575.16 billion by 2026 growing at a CAGR of
6.3% during the forecast period.
Growing demand for ferrous metals, strong demand for high-strength metal
components and cost effective method of metal forming are some key
factors propelling the market growth. Moreover, use of renewable source
of energy for forging provides huge growth opportunities for the market.
However, factors such as increasing usage of casting or stamping
process, rising demand for plastics as a substitute and environmental
rules & regulations are hampering the market growth.
Amongst end-user, automotive segment commanded considerable market share
during the predicted period. Low fuel rates and interest rates are the
factors growth of automotive industry of the forging market.
By geography, Asia Pacific region is expected to register the maximum
market share during the estimated period. Due to development in
infrastructure, improvement in automotive and construction industries in
the developing economies and recognition of the emerging country such as
India as the manufacturing hub is propelling the growth of forging
market in this region.
For more information about this report visit https://www.researchandmarkets.com/research/7rt9nm/forging_global?w=4
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