North America Forging Market Poised to Surge from USD 11.75 Billion in 2014 to USD 15.41 Billion by 2020 – MarketResearchStore.Com
Market Growth - CAGR of 4.76% between 2015-2020, Market Research Store: Leading Research Firm has added latest report on "Forging Market in North America (Rolled Rings, Open Die and Impression Die) Industry for Automotive, Aerospace, Oil and Gas, and Other Applications: Industry Perspective, Comprehensive Analysis, Size, Share, Segment, Trends and Forecast 2014 – 2020".
Deerfield Beach, FL, March 30, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Forging Market in North America (Rolled Rings, Open Die and Impression Die) Industry for Automotive, Aerospace, Oil and Gas, and Other Applications: Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020”. According to the report, North America’s demand for forging industry was valued at USD 11.75 Billion in 2014 is expected to reach USD 15.41 Billion in 2020, growing at a CAGR of 4.76% between 2015 and 2020. In terms of volume, the North America forging market stood at 23.30 million tons in 2014.
Forging is the process which controlled deformation of metal into an exact shape by compressive forces. The forging technique is superior to casting in that the parts formed have defined grain patterns, denser microstructures and less porosity. The most forgeable materials are aluminum, copper, and magnesium. The basic types of forging process are open-die forging and impression or closed die forming. Forged metal components find in various applications including automotive, aerospace, construction, oil and gas, agriculture, shipbuilding, steel, bearing and power industries.
Browse the full "Forging Market in North America(Rolled Rings, Open Die and Impression Die) for Automotive, Aerospace, Oil and Gas, and Other Applications: Industry Perspective, Comprehensive Analysis and Forecast 2014 - 2020" report at http://www.marketresearchstore.com/report/forging-market-in-north-america-35586
The forging market is mainly driven by increasing deployment and applications of advanced technology. U.S. forging industry is leader in materials development and utilization, energy management and efficiency, environmental responsibility and process application. Advanced technology may eliminate the need for forging lubricants in forging facilities. The aforementioned key drivers are projected to contribute towards forging industry growth during the forecast period. However, stringent environmental regulations and increasing demand for plastics as alternative to forged metal is expected to hamper the market growth over the forecast period.
Based on products, the forging market is segmented into rolled rings, open die and impression die. Impression die was leading segment with over 60% share of the total market in 2014. Rolled rings segment was another key outlet of this market and is expected to witness significant growth in the years to come. This growth mainly attributed to strong demand for rolled rings forging equipments market in North America.
Browse 5 Market Tables and 28 Figures spread through 65 Pages and an in-depth TOC on “Forging Market - North America Size, Shares, Trends, Segment & Forecast to 2020”
Some of the key applications in forging market include the automotive industry, aerospace industry, oil and gas industry, and other applications. Automotive industry segment accounted for largest share owing to high demand of forging equipment in this application segment. Increasing demand of impression die in automotive industry expected to boost growth of forging market. Aerospace is another leading segment of forging market. Advanced forgings used in the forging section components such as jet engines, structural components for aircraft helicopters, launch vehicles, and other demanding applications.
Some of the key players for forging market in North America include Alcoa, American Axle & Manufacturing Holdings, and Precision Castparts. The others prominent players for the forging market in North America include Ellwood Group, ATI Ladish Forging, FRISA, General Dynamics Ordnance & Tactical Systems, HHI Forging, Patriot Forge, Scot Forge, Sumitomo, Sypris Solutions, ThyssenKrupp.
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