Analysts forecast the Forging market in North America to grow at a CAGR of 4.55 percent over the period 2014-2019.
The Forging market in North America can be segmented into three major product segments: Impression Die, Open Die, and Rolled Rings.
Forging market in North America 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers North America; it also covers the Forging market in North America landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
The report recognizes the following companies as the key players in the Forging Market in North America: Alcoa Inc., American Axle & Manufacturing Holdings Inc. (AAM) and Precision Castparts Corp.
Other Prominent Vendors in the market are: ATI Ladish Forging, Ellwood Group, FRISA, General Dynamics Ordnance & Tactical Systems, HHI Forging, Patriot Forge, Scot Forge, Sumitomo, Sypris Solutions and ThyssenKrupp.
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.
According to the report, increased demand for ferrous metals is one of the major growth drivers in the market. Increased demand for forged metal components across the aerospace, automotive, construction, mining, and oil and gas industries contributed significantly to the growth of the market.
Further, the report states that increased use of casting and stamping processes during metal formation has a negative effect on the growth of the market. Companies across industries are increasingly using the casting and stamping processes to form metals. These processes help provide quality products and can be used to form heavyweight metals.
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