The global isothermal forging market reached a valuation of US$ 8.1 billion at the end of 2021 and is forecast to surge to US$ 14.6 billion by 2032, expanding at a healthy CAGR of 5.5% during the forecast period (2022-2032).
Demand for isothermal forging is predicted to grow as it is mainly used in the automotive industry, wherein, steel allows the designing of stronger vehicles with forged components.
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Key Segments of Isothermal Forging Industry Analysis
Isothermal Forging Market by Metal Type :
- Alloy Steel
- Carbon Steel
- Stainless Steel
Isothermal Forging Market by End-use Vertical :
- Aerospace & Defense
- Agricultural Equipment
- Construction & Mining Equipment & Components
- Electrical & Electronics
- Energy & Power
- Industrial & Manufacturing
- Marine & Rail Industry
- Oil & Gas
Isothermal Forging Market by Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
The global isothermal forging market is moderately fragmented due to the presence of several regional and global market players. Marketing strategies such as process advancements and constructive collaborations & partnerships are being adopted by market players such as Anchor Harvey, Arconic Corp, ATI, Aubert and Duval, Bharat Forge Ltd, CFS Forge, H C Starck Solutions, Larsen & Toubro Ltd, Schuler Group, and Trenton Forging.
Along with this, market players are leveraging economy of scale for forging with low costing to expand their presence in the market and garner a wider consumer base.
For instance :
- On 22 February 2022, Airbus, Safran and Tikehau Ace Capital signed a non-binding MOU with the Eramet Group for the joint acquisition of its subsidiary – Aubert & Duval.
- On 15 February 2022, Schuler received a third order from POSCO Group and will deliver a 1,600-ton machine to the processing center POSCO-CSPC China.
Fact.MR has provided detailed information about the price points of key players in the isothermal forging market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.