London, 01 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Casting and Forging Market in Europe 2014-2018, which is expected to grow at a CAGR of 4.84 percent over the forecast period.
Casting is a manufacturing process in which molten or liquid metal is poured into a mold made of sand, metal, or ceramic, which contains a hollow cavity of the desired shape, to form geometrically complex parts. Forging is the process of shaping the metals using compressive forces, which are then further processed to obtain a finished part.
Key Market Drivers
Increased Demand from Automotive Industry
Increased Use of Nonferrous Castings
Need to Manufacture Cost-effective and High-strength Components
Key Market Trends
Growth in Renewable Energy Castings
Shift of Manufacturing Units to Emerging Nations
Stringent Legislation
“Casting and forging are integral parts of the energy production chain and are important to the growth of renewable energy sources and for the production of more energy-efficient vehicles,” says Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
