Isothermal Forging Global Market Report 2023

Oct 09, 2023

Major players in the isothermal forging market are 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.

New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Isothermal Forging Global Market Report 2023" - https://www.reportlinker.com/p06479877/?utm_source=GNW , and Leistritz Turbinentechnik GmbH.The global isothermal forging market 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 isothermal forging market is expected to reach $10.85 billion in 2027 at a CAGR of 6.1%.The isothermal forging market consists of revenues earned by entities by providing near-isothermal or hot die forging, multiaxial isothermal, plus pack rolling, superplastic forming as well as diffusion bonding processes.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.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.Asia-Pacific was the largest region in the isothermal forging market in 2022. The regions covered in isothermal forging report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of isothermal forging raw materials are carbon steel metal forging, alloy steel metal forging, aluminum metal forging, magnesium metal forging, stainless steel metal forging, titanium metal forging, and others.Carbon steel metal forging refers to the manufacturing process that involves shaping and forming carbon steel into various shapes using compressive forces, such as hammering, pressing, or rolling.These are used in various processes, such as conduction heating and induction heating, and are used by several end-use verticals, such as aerospace and defense, agriculture equipment, automotive, construction and mining equipment and components, electrical and electronic, energy and power, industrial and manufacturing, marine and rail, and oil and gas.Increasing demand for automobiles is expected to propel the growth of the isothermal forging market going forward.Automobiles refer to land-based autonomous passenger or commercial vehicles with a combustion engine and typically four or more wheels.Isothermal forging is an important process in the automobile industry for producing high-performance, complex-shaped parts that require high strength, durability, and precision, so increasing demand for automobiles will propel the growth of the isothermal forging market.For instance, in 2022, according to the data published by the International Organization of Motor Vehicle Manufacturers, a France-based international trade automotive association, the global sales of automobiles reached 82,755,197 in 2021, up from 78,787,566 in 2020.Furthermore, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the central lobbying and standards group for the automobile industry in the European Union, Passenger automobile sales in the United States increased by 5.5% from 2020 to 11.9 million units in 2021. In 2021, about 6.3 million passenger automobiles were produced in US auto plants, a 3.1% increase over 2020. In 2021, Chinese automakers manufactured 20.7 million automobiles, a 7.1% increase. The total number of cars produced worldwide increased by 2.7% to 63.2 million in 2021. Therefore, an increasing demand for automobiles is driving the growth of the isothermal forging market.The advanced technological effects are a key trend gaining popularity in the isothermal forging market.Major companies operating in the isothermal forging market are focusing on launching advanced technologies to sustain their position in the market.For instance, in May 2021, the defense research and development organization (DRDO), an India-based Department of defense research and Development working under the Ministry of Defense, developed an indigenous isothermal forging technology for aero engines.With its special 2000 MT isothermal forge press, this technology is vital for producing the five phases of high-pressure compressors (HPC) discs made of tough-to-deform titanium alloy.This technology is essential for developing self-reliance in the field of aero-engine technology.In April 2023, Airbus, a France-based aviation and aerospace component manufacturing company, in collaboration with Safran and Tikehau Capital, acquired Aubert & Duval for an undisclosed amount.The completion of this acquisition marks a significant step towards the development of a major European leader in vital components and materials, ready to compete worldwide, assist the aerospace and defense sectors, and lower international supply risks.Aubert & Duval is a France-based provider of essential components and forged materials.The countries covered in the isothermal forging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The isothermal forging market research report is one of a series of new reports that provides isothermal forging market statistics, including isothermal forging industry global market size, regional shares, competitors with a isothermal forging market share, detailed isothermal forging market segments, market trends and opportunities, and any further data you may need to thrive in the isothermal forging industry. This isothermal forging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479877/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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