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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
  • 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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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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Drop Forging Market