Steel Forging Market - Global Industry Analysis

Steel Forging Market (Bearing, Crankshaft, Axle, Piston, Connecting Rods, Steering Knuckle, CV Joint, Gear, Beam And Others) For Automotive Application By Vehicle (Passenger Car, Light Commercial Vehicles And Heavy Commercial Vehicles): Global Market Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 18-Aug-2021 Category: Heavy Industry Report Format : PDF Pages: 110 Report Code: ZMR-937 Status : Published

The global Steel Forging market accounted for USD 51.26 Billion in 2020 and is expected to reach USD 70.23 Billion by 2028, growing at a CAGR of around 3.9% between 2021 and 2028.

Description

Steel Forging Market Size And Industry Analysis

The global Steel Forging market accounted for USD 51.26 Billion in 2020 and is expected to reach USD 70.23 Billion by 2028, growing at a CAGR of around 3.9% between 2021 and 2028.    

The developing automotive sector everywhere on the planet may be a major catalyst of the global steel forging market. Its cost-effective technique is anticipated to drive the event of the steel forging market within the automotive sector. On the opposite hand, the availability of an optional metal gorging process is probably going to hinder the expansion of steeling forging market.

Nevertheless, employment of environment-friendly and energy-efficient techniques in forging is planned to supply new opportunities for the main companies within the coming years within the steel forging market. Moreover, different mergers and acquisitions by major players of the steel forging market are set to bolster the event of the market. For instance, in May 2018, ArcelorMittal got approval from European Commission for its acquirement of Ilva, fostering the event of global steel forging market.

Global Steel Forging Market Size

COVID-19 Impact Analysis

The global Steel Forging market has witnessed a slight decline in the sales for short term to the lockdown enforcement placed by governments to contain COVID spreading. Retail sales of vehicles across all the regions are also likely to suffer due to subdued consumer sentiment because of the rising infections and curbs. The automotive industry in the U.S remains fragile, vehicles sales decline by 5-10%, whereas China vehicles sales continue their fast recovery. Europe automotive shows a decline of 8- 12% Y-o-Y. The restrictions imposed by various nations to contain COVID had stopped the production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand for auto parts of the vehicles.

Growth Factors

Increasing demand for steel forging in the automotive and aerospace industries is one of the major driving factors for the growth of the Steel Forging market. Moreover, stringent norms and regulations specific to CO2 emission especially in the region such as North America and Europe are anticipated to spur the market size in the region during the forecast period. However, the high cost can lead to limit the growth of the market. Furthermore, growth in the automotive industry is predicted to provide fruitful results for the market. For example, India is witnessing a positive growth rate, in terms of vehicle sales, in the second half of 2020. Passenger vehicle sales increased by 14% in August 2020 from the previous year.   

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Product Segment Analysis Preview  

On the idea of various products, gear surfaced as a top component that added up to over 30% share in 2018 for the global steel forging market. Furthermore, the crankshaft was the second-biggest product section of the steel forging market in 2018. Moreover, this fashion is predicted to sustain within the forecast period for the steel forging market. Bearings and axles are important products that are believed to exhibit significant development during the approaching years within the steel forging market.

Applications Segment Analysis Preview  

The passenger car application segment accounted for the largest volume share of more than 55% in 2019 and this trend is expected to continue over the forecast period. Automotive components or parts manufactured by forging are sturdier than those manufactured by casting or machining. In addition, forged parts need little or no machining, which aids in saving both cost and time. Cumulative investments in the automotive industry are anticipated to augment the product demand in near future. For example, in October 2020, Nissan announced to build two new vehicle-assembly plants in China.

Global Steel Forging Market Share

Region Segment Analysis Preview  

With the more than 35% share, Asia Pacific led the global Steel Forgings market in 2020. The increasing demand for automobile coupled with the rising disposable incomes in Asia Pacific countries is expected to propel the demand for Steel Forgings market over the years to come. Growing demand for passenger vehicles because of emerging industrialization in the region is likely to drive the demand for the automotive industry. Piercing development in the automotive industry in China and India is likely to have positive effect on the steel forging market in this area. India is believed as the most important area for steel forging market. Some of the major reasons such as tie-ups with the potent automakers and government programs for outsourcing their forged elements add up to the development of steel forging market in this area. Furthermore, North America and Europe are also expected to exhibit the exponential growth for Steel Forgings market in the near future.

Key Market Players & Competitive Landscape

The major players of global steel forging market for automotive application includes GKN Plc, EL Forge Limited (EFL), ThyssenKrupp, Robert Bosch GmbH, American Axle & Manufacturing Holdings, Precision Castparts, Ellwood Group, ATI Ladish Forging, FRISA, NTN Corporation, HHI Forging, Scot Forge, Sumitomo, Kisaan Steels, Happy Forgings Limited and Bharat Forge Limited.

Global Steel Forging Market Regional Analysis

The global Steel Forging Market is segmented as follows:

By Types

  • Bearing
  • Crankshaft
  • Axle
  • Piston
  • Connecting rods
  • Steering Knuckle
  • CV joint
  • Gear
  • Beam
  • Others

By Applications

  • Passenger Car (PC)
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Steel Forging Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Steel Forging Market – Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Bearing
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Crankshaft
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Axle
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Piston
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Connecting rods
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Steering Knuckle
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. CV Joint
      • 4.8.1. Market Size and Forecast, By Region (USD Billion)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.9. Gear
      • 4.9.1. Market Size and Forecast, By Region (USD Billion)
      • 4.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.9.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.10. Beam
      • 4.10.1. Market Size and Forecast, By Region (USD Billion)
      • 4.10.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.10.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.11. Others
      • 4.11.1. Market Size and Forecast, By Region (USD Billion)
      • 4.11.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.11.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Steel Forging Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. Passenger Car (PC)
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Light Commercial Vehicle (LCV)
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Heavy Commercial Vehicle (HCV)
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Steel Forging Market – Region Segment Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Type, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Type, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Type, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Type, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Type, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By Application, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Type, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Type, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Type, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Type, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By Application, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Type, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Type, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By Application, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Type, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Type, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Type, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Type, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 7: Steel Forging Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Steel Forging Market: Company Market Share, 2019
      • 8.1.2. Global Steel Forging Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Steel Forging Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Steel Forging Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. GKN Plc
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. EL Forge Limited (EFL)
    • 9.3. ThyssenKrupp
    • 9.4. Robert Bosch GmbH
    • 9.5. American Axle & Manufacturing Huldings
    • 9.7. Precision Castparts
    • 9.8. Ellwood Group
    • 9.9. ATI Ladish Forging
    • 9.10. FRISA
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Steel Forging Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028 
FIG NO. 7. Global Steel Forging Market for Bearing, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Steel Forging Market for Bearing, By Country, 2020 & 2028
FIG NO. 9. Global Steel Forging Market for Crankshaft, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Steel Forging Market for Crankshaft, By Country, 2020 & 2028
FIG NO. 11. Global Steel Forging Market for Axle, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Steel Forging Market for Axle, By Country, 2020 & 2028
FIG NO. 13. Global Steel Forging Market for Piston, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Steel Forging Market for Piston, By Country, 2020 & 2028
FIG NO. 15. Global Steel Forging Market for Connecting rods, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Steel Forging Market for Connecting rods, By Country, 2020 & 2028
FIG NO. 17. Global Steel Forging Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Steel Forging Market for Others, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 20. Global Steel Forging Market for Passenger Car (PC), Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Steel Forging Market for Passenger Car (PC), By Country, 2020 & 2028 
FIG NO. 22. Global Steel Forging Market for Light Commercial Vehicle (LCV), Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Steel Forging Market for Light Commercial Vehicle (LCV), By Country, 2020 & 2028
FIG NO. 24. Global Steel Forging Market for Heavy Commercial Vehicle (HCV), Revenue (USD Billion) 2016 – 2028 
FIG NO. 25. Comparative Revenue Analysis of Steel Forging Market for Heavy Commercial Vehicle (HCV), By Country, 2020 & 2028
FIG NO. 26. Global Steel Forging Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Steel Forging Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 28. Porter’s Five Forces Analysis for Global Steel Forging Market
FIG NO. 29. PEST Analysis for Global Steel Forging Market
FIG NO. 30. Pricing Analysis for Global Steel Forging Market
FIG NO. 31. Value Chain Analysis for Global Steel Forging Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. E.I. du Pont de Nemours and Company Business Segment Revenue Share, 2020 (%)
FIG NO. 36. E.I. du Pont de Nemours and Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology


Table Of Tables

List of Tables 

TABLE NO. 1. Global Steel Forging Market: Snapshot
TABLE NO. 2. Quarterly Steel Forging Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Steel Forging Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Steel Forging Market for Bearing, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Steel Forging Market for Crankshaft, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Steel Forging Market for Axle, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Steel Forging Market for Piston , by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Steel Forging Market for Conneting rods, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Steel Forging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Steel Forging Market for Passenger Car (PC), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Steel Forging Market for Light Commercial Vehicle (LCV), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Steel Forging Market for Heavy Commercial Vehicle (HCV), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Steel Forging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global Steel Forging Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Steel Forging Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 21. U.S. Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 23. Canada Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 24. Mexico Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 25. Mexico Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 26. Drivers for the Steel Forging Market: Impact Analysis
TABLE NO. 27. Restraints for the Steel Forging Market: Impact Analysis
TABLE NO. 28. Major Buyers of Steel Forging
TABLE NO. 29. Distributors/Traders List of Steel Forging
TABLE NO. 30. Global Steel Forging Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 31: Global Steel Forging Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   


 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Steel Forging market. Zion Research has collected and analyzed key data belong to the global Steel Forging market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Steel Forging across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Steel Forging industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Steel Forging market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Forging is the forming and shaping of metals using the process such as rolling, pressing or hammering. The process begins with starting stock, usually, a cast ingot which is heated to its plastic deformation temperature, and then "kneaded" between dies to the desired shape and size. Forging finds numerous applications including automotive, aerospace, defense, oil & gas, etc.

The global steel forging market for automotive applications is primarily driven by increasing demand for passenger car across the worldwide is likely to boom the market size of steel forging in the coming years. Moreover, cost effective method of metal forming is projected to propel the market growth in the near future. However, availability of alternate metal forming processes is expected to be a restraining factor for the forging market in the near future. Furthermore, use of energy efficient and environment-friendly techniques in forging can offer new opportunities for the market growth during the upcoming years. 

Global-Steel-Forging-Market

On the basis of product, the steel forging market for automotive application is segmented into bearing, crankshaft, axle, piston, connecting rods, steering knuckle, CV joint, gear, beam, and others. In 2016, gear was a dominating application segment of the global steel forging market for automotive application. It accounted for above 30.0% share of the entire steel forging consumption in 2016. Gear was followed by crankshaft in the same year. Moreover, crankshaft, axle, and bearings are the promising product segments of steel forging the market for the automotive application that is likely to exhibit significant growth during the years to come.

On the basis of the vehicle, the steel forging industry is classified into the passenger car, light commercial vehicle, and heavy commercial vehicle. Growth in the automotive industry plays a crucial role in boosting the demand for steel forged products as it is the largest revenue contributor to the global forging market. The light commercial vehicle is expected to be the fastest-growing segment of the steel forging market within the forecast period. Growing demand for passenger car across the globe is also projected to boost the demand for steel forging in automotive sector over the next few years.

In terms of region, Asia-Pacific accounted for the largest share of the steel forging market for automotive application, contributing more than 42.0% of the total volume consumption in 2016. It is estimated to grow at a strong CAGR within the forecast period. Demand for infrastructural growth in developing countries and emergence of India as a manufacturing hub for the automotive industry is expected to propel the growth of the market in this region.

Key players in this market are GKN plc, EL Forge Limited (EFL), American Axle & Manufacturing Holdings, Precision Castparts, Ellwood Group, ATI Ladish Forging, FRISA, NTN Corporation, HHI Forging, Scot Forge, Sumitomo, Kisaan Steels, Happy Forgings Limited and Bharat Forge Limited.

Choose License Type

FrequentlyAsked Questions

The global Steel Forging Market was valued at USD 51.26 billion in 2020.

The global Steel Forging Market is expected to reach USD 70.23 billion by 2028, growing at a CAGR of 3.9% between 2021 to 2028.

Some of the key factors driving the global steel forging market growth weight reduction trends in vehicles,  presence of major vehicle manufacturers, and increasing adoption of high-end and luxury vehicles.

Asia Pacific region held a substantial share of the Steel Forging Market in 2020. This is attributable to the owing to the growing demand for passenger vehicles because of emerging industrialization.

The major players of global steel forging market for automotive application includes GKN Plc, EL Forge Limited (EFL), ThyssenKrupp, Robert Bosch GmbH, American Axle & Manufacturing Holdings, Precision Castparts, Ellwood Group, ATI Ladish Forging, FRISA, NTN Corporation, HHI Forging, Scot Forge, Sumitomo, Kisaan Steels, Happy Forgings Limited and Bharat Forge Limited.

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Industry Press Release

We Accept

We have secured system to process your transaction.

  • paypal
  • amazon
  • visa
  • master card

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed