Get Everything About Forging .

The global forging market is witnessing moderate growth owing to the significant demand from automotive and aerospace industries. The high growth of air passenger traffic has resulted in growth of the aerospace sector, which is boosting the manufacturing of forged aerospace parts. Also, rising focus of various governments on wind energy power generation has significantly increased the investments in wind energy projects. It has resulted in increased demand for wind energy forged components.

The forging market was valued at US$ 72,890.07 million in 2019 and it is projected to reach US$ 100,404.83 million by 2027; it is expected to grow at a CAGR of 5.1% from 2020 to 2027.

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 Economic and market conditions across the world are also associated with the growth of this market and they are anticipated to provide growth opportunities during the forecast period. To sustain the completion in the metal forming market, forging businesses are focusing on providing lean, resilient, flexible, and adaptable forging processes. End-user industries, such as oil & gas, shipbuilding, aerospace, and construction equipment, are experiencing substantial growth. This has generated high demand among low-cost manufacturing countries, such as India and China, for closed die forged components.


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