Drop Forging Market: Report, Trends, Size, Share, Analysis, Estimations And Forecasts To 2027

Drop Forging: Introduction

Drop forging is a process to shape different metals including steel
In a lower die mold block, a heated steel billet is placed. A die-equipped ram hammer drops down on the metal and forges the metal into the desired shape.

Key Drivers of the Global Drop Forging Market

Usage of lightweight metals in various end-use industries has been increasing at a rapid pace. Drop forging is an effective process to decrease the metal weight. Aluminum and titanium are widely utilized metals in the transportation vehicle industry. These metals are commonly drop forged metals, after steel.
In terms of end-use industry, the automotive industry accounted for a major share of the global drop forging market. The strength, durability, and reliability offered by drop forging has made it a popular manufacturing process for automotive components. These factors significantly boost the global drop forging marke

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Rise in Demand in Aviation Industry to Offer Significant Opportunities

Increasing number of domestic and international travelers at the global level is driving the demand for passenger airlines in the aviation industry . This is expected to boost aircraft production worldwide and drive the demand for drop forging in the near future.

Alternate Component Manufacturing Processes to Hamper the Global Drop Forging Market

Increase in number of alternate technologies and their low manufacturing cost is hindering the market. Casting as an alternate technology is gaining popularity globally.

Asia Pacific the Dominant Market for Drop Forging

The drop forging market in Asia Pacific witnessed rapid expansion in 2018. Increased investment in automotive and aerospace sectors in developing countries, including China and India, is driving the market in the region.
North America accounted for a prominent share of the global drop forging market in 2018. It has been observed that large number of manufacturing units are located in this region. These manufacturing units will drive the demand for drop forging in North America.

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Key Players Operating in the Global Market

The global drop forging market is fragmented in nature. Large number of small-scale manufacturers are present in this market. Key market participants are signing strategic partnerships and engaging in strategic mergers and acquisitions to consolidate their presence in the global market. Moreover, drop forging companies are investing in infrastructure improvement to compete in the market. Companies are investing in different regions to enhance their presence in the market. For instance, In June 2019, India-based forging company, Bharat Forge Ltd. announced the start of their new plant in the U.S. This plant is expected to become operational by 2021. Key players operating in the global drop forging market are listed below:

Arconic
AVIC HEAVY MACHINERY CO LTD
Bharat Forge Limited
Eramet Group
JSW Group
Kobe Steel, Ltd
Precision Castparts Corp
VSMPO-AVISMA Corporation
Wanxiang Group Corporation

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