Global Isothermal Forging Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
17 Jul, 2023
The global isothermal forging market size is expected to grow from $7.77 billion in 2022 to $8.56 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global isothermal forging market size is expected to reach $10.85 billion in 2027 at a CAGR of 6.1%.
Global Isothermal Forging Market Key Driver
The growing demand for automobiles is projected to drive the expansion of the isothermal forging market in the coming years. Automobiles are autonomous passenger or commercial vehicles that travel on land and have a combustion engine and four or more wheels. Isothermal forging is a critical procedure in the vehicle sector for making high-performance, complex-shaped parts that require great strength, durability, and precision, so rising automobile demand will drive the isothermal forging market forward.
Get a sample of the global isothermal forging market reportGlobal Isothermal Forging Market Segments
The global isothermal forging market is segmented:
1) By Raw Material: Carbon Steel Metal Forging, Alloy Steel Metal Forging, Aluminum Metal Forging, Magnesium Metal Forging, Stainless Steel Metal Forging, Titanium Metal Forging, Other Raw Material Metal Forging
2) By Processes: Conduction heating, Induction heating
3) By End Use Vertical: Aerospace And Defense, Agriculture Equipment, Automotive, Construction And Mining Equipment And Components, Electrical And Electronic, Energy And Power, Industrial And Manufacturing, Marine And Rail, Oil And Gas
4) By Geography: The regions covered in the isothermal forging market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global isothermal forging market.
Major Isothermal Forging Industry Players
Anchor Harvey, Arconic Corp., ATI Forged, Bharat Forge Ltd., CFS Forge, H C Starck Solutions, Larsen & Toubro Ltd., Schuler Group, Trenton Forging, Pratt & Whitney (P&W), Alcoa Corporation, ALD Vacuum Technologies, SMT Limited, Precision Castparts Corp., Leistritz Turbinentechnik GmbH
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Isothermal Forging Market Overview
Isothermal forging refers to a metal-forming process in which a heated metal billet is forged using a die that is held at a constant temperature during the forging process. This process is used to produce complex parts with tight tolerances and high strength requirements.
Isothermal Forging Global Market Report 2023 provides data on the global isothermal forging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The isothermal forging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.