Covid-19 Impact on Global Forging Market Size, Status and Forecast 2020-2026

Forging is a manufacturing process involving the shaping of metal using localized compressive forces. The blows are delivered with a hammer (often a power hammer) or a die. Forging is often classified according to the temperature at which it is performed: cold forging (a type of cold working), warm forging, or hot forging (a type of hot working). For the latter two, the metal is heated, usually in a forge. Forged parts can range in weight from less than a kilogram to hundreds of metric tons. Forging has been done by smiths for millennia; the traditional products were kitchenware, hardware, hand tools, edged weapons, cymbals, and jewellery. Since the Industrial Revolution, forged parts are widely used in mechanisms and machines wherever a component requires high strength; such forgings usually require further processing (such as machining) to achieve a finished part. Today, forging is a major worldwide industry.

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The global average price of automotive forging products is in the decreasing trend, from 2271 USD/MT in 2013 to 2164 USD/MT in 2017. With the situation of raw material, prices will be in increasing trend in the following five years. In terms of raw material, the segments of the global automotive forging market include aluminum, copper/brass/bronze, low-carbon & low-alloy steels, special alloy steel, stainless steel.

The segments of the global automotive forging market on the basis of type are closed die, open die, and rolled rings. Amongst them, the segment of closed die dominates in terms of revenue and the trend is expected to continue over the forecast period. This is due to the par excellence performance and finish of products that are obtained using this process.

The key application segments of the global automotive forging market covered in this report are powertrain components, chassis components, transmission parts and other part. Amongst all, powertrain components are the leading application segment of the market. The leading share of the powertrain components segment is ascribed to the expansion of the automobile industry to cater to the high demand for automobiles. The powertrain components segment held almost 48.21% of the global automotive forging market in terms of volume in 2017.

Geography-wise, the global automotive forging market is segmented into North America, Europe, Asia Pacific (China, India, Japan, etc.). In the years ahead, Asia Pacific is expected to display the leading growth amongst other key regions. The growth of the region is mainly driven by the development of automotive industries. Emerging economies of the region are major consumers of forged metal for the rising urbanization and industrialization in these regions.

The capital-intensive nature of the global automotive forging market accounts for the clear dominance of well-entrenched players that operate in international markets. This poses challenge for small players that compete with large players with respect to quality, features, functionalities, and services. The use of newer technologies by large players to add qualitative value to existing products will further add to the woes of small players.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Forging 3900 market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

This report also analyses the impact of Coronavirus COVID-19 on the Forging 3900 industry.

Based on our recent survey, we have several different scenarios about the Forging 3900 YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ 42460 million in 2019. The market size of Forging 3900 will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Forging market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Forging market in terms of both revenue and volume.

Players, stakeholders, and other participants in the global Forging market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on sales (volume), revenue and forecast by each application segment in terms of sales and revenue and forecast by each type segment in terms of revenue for the period 2015-2026.

Sales and Pricing Analyses

Readers are provided with deeper sales analysis and pricing analysis for the global Forging market. As part of sales analysis, the report offers accurate statistics and figures for sales and revenue by region, by each type segment for the period 2015-2026

In the pricing analysis section of the report, readers are provided with validated statistics and figures for the price by players and price by region for the period 2015-2020 and price by each type segment for the period 2015-2020.

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Forging market, covering important regions, viz, North America, Europe, China and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.

The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of sales for the period 2015-2026.

Competition Analysis

In the competitive analysis section of the report, leading as well as prominent players of the global Forging market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on sales by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Forging market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Forging market.

The following manufacturers are covered in this report:

  • Nippon Steel & Sumitomo Metal
  • Aichi Steel
  • Thyssenkrupp
  • AAM
  • Bharat Forge
  • KOBELCO
  • WanXiang
  • FAW
  • Arconic
  • Mahindra Forgings Europe
  • Farinia
  • Longcheng Forging
  • Sinotruck
  • Dongfeng Forging
  • Jiangsu Pacific Precision Forging
  • Sypris Solutions
  • Ashok Leyland
  • Allegheny Technologies
  • VDM Metals
  • CITIC Heavy Industries

Forging Breakdown Data by Type

  • Closed Die Forgings
  • Open Die Forgings
  • Rolled Rings Forgings

Forging Breakdown Data by Application

  • Powertrain Components
  • Chassis Components
  • Transmission Parts
  • Other Parts

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Table of content

1 Study Coverage
1.1 Forging Product Introduction
1.2 Market Segments
1.3 Key Forging Manufacturers Covered: Ranking by Revenue
1.4 Market by Type
1.4.1 Global Forging Market Size Growth Rate by Type
1.4.2 Closed Die Forgings
1.4.3 Open Die Forgings
1.4.4 Rolled Rings Forgings
1.5 Market by Application
1.5.1 Global Forging Market Size Growth Rate by Application
1.5.2 Powertrain Components
1.5.3 Chassis Components
1.5.4 Transmission Parts
1.5.5 Other Parts
1.6 Coronavirus Disease 2019 (Covid-19): Forging Industry Impact
1.6.1 How the Covid-19 is Affecting the Forging Industry
1.6.1.1 Forging Business Impact Assessment - Covid-19
1.6.1.2 Supply Chain Challenges
1.6.1.3 COVID-19’s Impact On Crude Oil and Refined Products
1.6.2 Market Trends and Forging Potential Opportunities in the COVID-19 Landscape
1.6.3 Measures / Proposal against Covid-19
1.6.3.1 Government Measures to Combat Covid-19 Impact
1.6.3.2 Proposal for Forging Players to Combat Covid-19 Impact
1.7 Study Objectives
1.8 Years Considered

2 Executive Summary
2.1 Global Forging Market Size Estimates and Forecasts
2.1.1 Global Forging Revenue 2015-2026
2.1.2 Global Forging Sales 2015-2026
2.2 Forging Market Size by Region: 2020 Versus 2026
2.2.1 Global Forging Retros

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