TechNavio recognizes the following companies as the key players in the Global Forging Industry Market: Bharat Forged Ltd., Nippon Steel and Sumitomo Metal Corp., and ThyssenKrupp AG.
Commenting on the report, an analyst from TechNavio’s Engineering team said: ”Increasing sourcing of forging activities to low-cost countries is one of the emerging trends in the Global Forging industry. Many of the low-cost countries in the APAC and Eastern European regions have emerged as the most preferred destinations for forging suppliers in the Global Forging industry. The need to minimize overall costs is one of the major reasons of sourcing forging activities to low-cost countries. Vietnam, Taiwan, Indian, and China are some of the most preferred low-cost countries in the Global Forging industry. Also, Eastern Europe countries such as the Czech Republic, Hungry, and Poland are also some of the major low-cost destinations in this industry.”
According to the report, the increasing demand from the Automotive industry is one of the major drivers in the Global Forging industry. The Automotive industry creates a huge demand for various forged components such as crankshafts, connecting rods, transmission shafts, axle beams, differential gears, universal joints, and several other suspension components that are widely being used in all automotives.
Further, the report states that the price of raw materials is continuously increasing year by year due to the scarcity of these materials. Thus the increasing cost of resources is one of the major challenges in the Global Forging industry.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Aichi Steel Corp., Alcoa Inc., Allegheny Technologies Inc., KITZ Corp., Mahindra Forging Ltd., Schuler Group, and SNT Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-forging-industry-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/engineering-software
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TechNavio Announces the Publication of its Research Report-Global Forging Industry Market 2012-2016
