The global metal forging market size is expected to witness significant growth owing to the increasing demand of the product for the automotive sector. Furthermore, increasing government support for the production of e-vehicles will favor the adoption of metal forging. Fortune Business Insights, in its latest report, titled “Metal Forging Market Size, Share & Industry Analysis, By Raw Material (Carbon Steel, Alloy Steel, Stainless Steel, Aluminum, Magnesium, Titanium, and Others), By Technology (Closed Die, Open Die, and Others), By Application (Automotive, Mechanical Equipment, Aerospace & Railways, and Others), and Regional Forecast, 2020-2027.”, observes that the market is projected to reach USD 135.01 billion by 2027, while exhibiting a CAGR of 6.7% between 2020 and 2027. The report further mentions that the market was worth USD 80.79 billion in 2019.

List of the Leading Companies Profiled in the Metal Forging Market Research Report are:

• Arconic (US)
• Aichi Steel Corporation (Japan)
• Nippon Steel Corp (Japan)
• Allegheny Technologies Inc. (US)
• American Axle & Manufacturing Inc. (US)
• Bharat Forge Ltd (India)
• Bruck GmbH (Germany)
• ThyssenKrupp AG (Germany)
• L&T Special Steel and Heavy Forgings (India)
• China First Heavy Industries (China)
• All Metals & Forge Group (US)
• Schuler AG (US)
• The Japan Steel Works, Ltd. (Japan)
• Hilton Metal Forging Ltd. (India)

Metal forging is a type of metal forming method that mainly involves the use of compression force on a piece of metal to deform it, and further create the desired shape, size, and volume. The most common forged metal products are titanium, aluminum, copper, magnesium, and others. The process of forging is beneficial as it aids in strengthening of the metals by eliminating internal gas pockets that tend to weaken the metals. This process also increases the strength and durability of the metals

Gain More Insights into the Metal Forging Market Research Report:

https://www.fortunebusinessinsights.com/metal-forging-market-103175

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. In addition to this, the report provides insights into the regional analysis and discusses the performance of the market in major regions across the world. It includes the competitive landscape that involves leading companies and the strategies adopted by these companies which have resulted in several novel products as well as major company collaborations. The research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

Competitive Landscape:

Product Expansion Strategies by the Companies to Augur Growth

In February 2019, Arconic announced the expansion strategy of its facility located at Knoxville, Tennessee with an investment of about USD 100 million. According to the company, the expansion aims at facilitating mass production of aluminum products to cater to the increasing demand from the automotive and industrial sectors. Furthermore, the company plans to consolidate its position for the market in the forthcoming years. Adoption of strategies such as introduction of novel products, merger and acquisition, and collaboration by the companies to gain a major chunk of the global metal forging market share will bode well for growth during the forecast period.