- The key vendors in the Forging Market in North America 2015-2019 are Alcoa Inc., American Axle & Manufacturing Holdings Inc. (AAM) and Precision Castparts Corp.
London, 13 January 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Forging Market in North America 2015-2019. Increased emphasis of vendors toward development of new forging technology is one of the key trends emerging in this market. Extensive R&D has been undertaken to develop lightweight, high-strength, and high-quality forged metals and development of highly reliable and long-lasting die materials. The Forging market in North America is expected to grow at a CAGR of 4.55 percent during the forecast period of 2014-2019.
The growth of the Global Forging market is highly dependent on production and consumption of various metals worldwide. Increased demand for metals in the Automotive, Transportation, Precision Engineering, and Aerospace industries has led to increased dependence on metal working and metal forging tools.
“The market is witnessing development of green forging that uses electricity generated by renewable sources such as solar and wind energy,” says Faisal Ghaus, Vice President of TechNavio Research.
“Various types of energy-efficient equipment such as inverters are being used that reduce overall emissions of carbon dioxide, nitric oxide, and nitrogen dioxide gases.”
To define the market conditions 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.
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