One of the world’s largest market-research sources recently announced the availability of the Global Forging Market 2016-2020 report. The four-year research study predicts the global forging market to exhibit a healthy CAGR (compound annual growth rate*) of around 8% during the forecast period [* the mean annual growth rate of an investment over a specified period of time longer than one year].
Annually, forging suppliers are developing new die material interfaces and improving modeling software, and forging operations are applying an increasing number of new die designs. Additionally, the forging manufacturers are adopting controls and sensors to track the forging process to compensate and automatically sense for any changes in the process.
According to the report, the aerospace industry is one of the key end-users of the forging market. Forged components are extensively used in building commercial and defense aircraft. Structural strength is an important parameter in the design and manufacture of aircraft. The industry demands materials with high strength-to-weight ratios in order to manufacture forged components such as bulkheads, wing roots, hinges, spars, engine mounts, beams, brackets, wheels, landing gear cylinders and struts, and brake carriers.
Further, the report states that the automotive industry is the biggest end-user of forged parts. The global economic slowdown has adversely affected the growth of the industry. Following this, the sales of forged parts in this industry lowered in 2015. This has compelled vendors of the forging market to reduce their shares and investments in the automotive industry. The exhibit below shows the decline in growth of the automotive industry.
Key questions answered in the report:
What will the market size and the growth rate be in 2020?
What are the key factors driving the global forging market?
What are the key Market trends impacting the growth of the forging market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global forging market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the forging market?
SOURCE Research and Markets
For more information visit http://www.researchandmarkets.com/research/f396lz/global_forging