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NEW YORK , Sept. 30, 2021 /PRNewswire/ -- The global forging market will grow by 13.53 million tons between 2021 and 2025, progressing at a CAGR of 6% during the forecast period, according to Technavio. The report offers an up-to-date analysis of the growth variance and the Y-O-Y growth rate.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aichi Steel Corp., Allegheny Technologies Inc., Aluminum Precision Products, ASAHI FORGE Corp., Bharat Forge Ltd., Bruck GmbH, FOUNTAINTOWN FORGE, INC., Pacific Forge Inc., Patriot Forge Co., and Scot Forge Co. are some of the major market participants.
Although the advantages of forging over other fabrication techniques and the advent of new hybrid forging techniques will offer immense growth opportunities, instability in variable costs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our forging market report covers the following areas:
This study identifies growing investments in renewable energy as one of the prime reasons driving the forging market growth during the next few years.
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Forging Market 2021-2025: Key Highlights
Related Reports on Materials Include: Global Steel Market - Global steel market is segmented by end-user (construction, machinery, transportation, metal goods, and others) and geography (APAC, Europe , North America , MEA, and South America ). Download Exclusive Free Sample Report
Forging Market 2021-2025: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the Forging Market. Backed with competitive intelligence and benchmarking, our research reports on the Forging Market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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