Drop Forging: Introduction

  • Drop forging is a process to shape different metals including steel
  • In a lower die mold block, a heated steel billet is placed. A die-equipped ram hammer drops down on the metal and forges the metal into the desired shape.

Key Drivers of the Global Drop Forging Market

  • Usage of lightweight metals in various end-use industries has been increasing at a rapid pace. Drop forging is an effective process to decrease the metal weight. Aluminum and titanium are widely utilized metals in the transportation vehicle industry. These metals are commonly drop forged metals, after steel.
  • In terms of end-use industry, the automotive industry accounted for a major share of the global drop forging market. The strength, durability, and reliability offered by drop forging has made it a popular manufacturing process for automotive components. These factors significantly boost the global drop forging market.

Rise in Demand in Aviation Industry to Offer Significant Opportunities

  • Increasing number of domestic and international travelers at the global level is driving the demand for passenger airlines in the aviation industry. This is expected to boost aircraft production worldwide and drive the demand for drop forging in the near future.

Alternate Component Manufacturing Processes to Hamper the Global Drop Forging Market

  • Increase in number of alternate technologies and their low manufacturing cost is hindering the market. Casting as an alternate technology is gaining popularity globally.

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Asia Pacific the Dominant Market for Drop Forging

  • The drop forging market in Asia Pacific witnessed rapid expansion in 2018. Increased investment in automotive and aerospace sectors in developing countries, including China and India, is driving the market in the region.
  • North America accounted for a prominent share of the global drop forging market in 2018. It has been observed that large number of manufacturing units are located in this region. These manufacturing units will drive the demand for drop forging in North America.

Key Players Operating in the Global Market

The global drop forging market is fragmented in nature. Large number of small-scale manufacturers are present in this market. Key market participants are signing strategic partnerships and engaging in strategic mergers and acquisitions to consolidate their presence in the global market. Moreover, drop forging companies are investing in infrastructure improvement to compete in the market. Companies are investing in different regions to enhance their presence in the market. For instance, In June 2019, India-based forging company, Bharat Forge Ltd. announced the start of their new plant in the U.S. This plant is expected to become operational by 2021. Key players operating in the global drop forging market are listed below:

  • Aichi Forge USA, Inc.
  • Arconic
  • AVIC HEAVY MACHINERY CO., LTD
  • Bharat Forge Limited
  • Eramet Group
  • JSW Group
  • Kobe Steel, Ltd.
  • Precision Castparts Corp.
  • VSMPO-AVISMA Corporation
  • Wanxiang Group Corporation

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Global Drop Forging Market: Research Scope

Global Drop Forging Market, by Process

  • Hot Forging
  • Cold Forging

 Global Drop Forging Market, by Type

  • Open Die
  • Closed Die

Global Drop Forging Market, by Metal Type

  • Alloy Metal
  • Steel
  • Aluminum
  • Carbon
  • Others (Copper, Nickel, etc.)

Global Drop Forging Market, by Application

  • Automotive
  • Aerospace & Defense
  • Construction
  • Agriculture
  • Others (Energy & Power, Oil & Gas, etc.)

Global Drop Forging Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

The report on the global drop forging market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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