Global Forged And Stamped Goods Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
11 Feb, 2021
The forged and stamped market consists of sales of forged and stamped metal goods by entities (organizations, sole traders and partnerships) that are engaged in manufacturing forgings from purchased metals; manufacturing metal custom roll forming products; manufacturing metal custom roll forming products; manufacturing metal stamped and spun products (except automotive, cans, coins); and manufacturing powder metallurgy products. Establishments making metal forgings, metal stampings, and metal spun products and further manufacturing (e.g., machining, assembling) a specific manufactured product are classified in the industry of the finished product. Metal forging, metal stamping, and metal spun products establishments may perform surface finishing operations, such as cleaning and deburring, on the products they manufacture.
Global Forged And Stamped Goods Market Size And Drivers:
The global forged and stamped goods market is expected to grow from $242.35 billion in 2020 to $257.62 billion in 2021 at a compound annual growth rate (CAGR) of 6.3%. The market is expected to reach $316.67 billion in 2025 at a CAGR of 5%. An expected growth in the demand for aircraft manufacturing supported by the growing demand for international and domestic air travel and rising government defense budgets are expected to drive the demand for forged and stamped goods.
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Trends In The Global Forged And Stamped Goods Market
Metal forgers are increasingly incorporating additive manufacturing technologies to offer customized designs to the customers. 3D technology is being used in forging for balancing customization and personalization with efficiency and waste reduction. The 3D forging technology offers advantages, such as preparation of complicated shapes and designs and negligible material loss.
Global Forged And Stamped Goods Market Segments:
The global forged and stamped goods market is further segmented based on type, end user industry and geography.
By Type: Iron And Steel Forged Goods, Nonferrous Forged Goods, Custom Roll Formed Goods, Powder Metallurgy Parts, Metal Crown, Closure, And Other Metal Stamped Goods.
By End User Industry: Automotive, Construction, Food & Beverage Packaging, Machinery, Metal Products, Others.
By Geography: The global forged and stamped goods market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global forged and stamped goods market, accounting for 47% of the total market.
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Forged And Stamped Goods Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides forged and stamped goods market overviews, analyzes and forecasts market size and growth for the global forged and stamped goods market, forged and stamped goods market share, forged and stamped goods market players, forged and stamped goods market segments and geographies, forged and stamped goods market’s leading competitors’ revenues, profiles and market shares. The forged and stamped goods market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.