Forging Market by End-user, Product, and Geography - Forecast and Analysis 2023-2027

Published: Dec 2022 Pages: 163 SKU: IRTNTR40551

The forging market is estimated to grow at a CAGR of 5.82% between 2022 and 2027. The size of the market is forecasted to increase by 17.34 million tons. The growth of the market depends on several factors, including the advantages of forging over other fabrication techniques, the advent of new hybrid forging techniques, and technological innovations.

This report extensively covers market segmentation by end-user (automotive and others), product (closed die forging, open die forging, and seamless rings), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Forging Market During the Forecast Period?

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Parent Market Analysis

The reports categorize the global forging market as a part of the global diversified metals and mining market, which covers companies engaged in the production or extraction of metals and minerals such as non-ferrous metals (except bauxite), salt and borate, phosphate rock, and diversified metal mining operations. Technavio calculates the global diversified metals and mining market size based on the combined revenue generated by companies engaged in the production or extraction of metals and minerals and diversified mining operations. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Forging Market: Key Drivers, Trends, Challenges, and Customer Landscape

The advantages of forging over other fabrication techniques are notably driving the market growth, although factors such as instability in variable costs may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Forging Market Driver

The advantages of forging over other fabrication techniques are notably driving the forging market growth. Forging makes a metal tough, ductile, and capable of withstanding fatigue. It is widely used in end-user industries that require high-strength products. The advantages of forging over casting include the high strength of forged steel, cost-effectiveness, flexibility, and high tensile strength of forged products. 

A cast iron part possesses only two-thirds of the yield strength of a forged steel part. Hence, various industries such as automotive, aerospace, mining, and power prefer to use high-strength steel components. Therefore, the advantages of forging over casting will drive the demand for forging in these industries. Such factors will fuel the growth of the market during the forecast period.

Significant Forging Market Trend

Developments in robotics to enhance forging operations are a key trend influencing the forging market growth. Industries such as automotive, aerospace, and medical extensively use forging techniques for manufacturing components and parts. Automation helps in achieving high productivity while ensuring flexibility. It enables quick changeover between batches, enhances production volume, and results in improved manufacturing tolerances and product quality.

Recent advances in robotics have helped designers with high-volume forging lines. Robots use sensors to interact with other machines and ensure collision resistance. They also have a high range of motion. Developers have made robots specifically designed for pick-and-place applications. This results in high-speed and high-volume production in forging lines. Therefore, developments in robotics will support market growth during the forecast period.

Major Forging Market Challenge

The instability in variable costs may impede the forging market growth. The forging industry is dependent on large volumes of ferrous and non-ferrous raw materials such as steel, iron, and other alloys. Fluctuations in raw material prices are a concern for the global forging market, as they have a major impact on the overall revenue. The cost of these materials fluctuates because of scarcity and inflationary pressures and results in uncertainty in the vendors' profitability, thus restricting the market growth. 

The forging industry also needs skilled laborers to operate and carry out the forging process efficiently. However, as the wages of skilled have been laborers rising globally, various industries are outsourcing their manufacturing operations to regions with a low-cost workforce. Rising labor costs affect the overall profit margin of vendors. Vendors are compelled to increase the selling price of forged parts to offset this. As a result, they face competition from vendors that employ low-cost labor, especially in developing economies. These factors will hinder the growth of the market during the forecast period. 

Key Forging Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Forging Market Customer Landscape

Who are the Major Forging Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

  • Aichi Steel Corp. - The company offers forged products such as eAXLE components, engine components, chassis components, transmission components, and driveline parts.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

 

  • Ajax Tocco Magnethermic Corp.
  • Alicon Castalloy Ltd.
  • All Metals and Forge Group
  • Allegheny Technologies Inc.
  • Aluminum Precision Products
  • American Axle and Manufacturing Holdings Inc.
  • Asahi Forge Corp.
  • Bharat Forge Ltd.
  • Bruck GmbH
  • Consolidated Industries Inc.
  • Farinia SA
  • Fountaintown Forge Inc.
  • Larsen and Toubro Ltd.
  • Mitsubishi Steel Mfg. Co. Ltd.
  • Pacific Forge Inc.
  • Patriot Forge Co.
  • Scot Forge Co.
  • Sumitomo Heavy Industries Ltd.
  • thyssenkrupp AG

 

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What are the Fastest-Growing Segments in the Forging Market?

The market share growth by the automotive segment will be significant during the forecast period. The demand for forging is increasing in the automotive end-user segment. The automotive sector produces high-performance forged components for cars, trucks, and commercial automobiles. 

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The automotive segment showed a gradual increase in the market share of 27.67 million t in 2017 and continued to grow by 2021. Forging produces high-quality metal parts to ensure the safety of automobile structures. Automobile components such as suspension, steering, and transmission systems are manufactured using forging. Forged parts are also installed in other automotive applications that are subject to stress and shock. These factors will drive the growth of the automotive segment during the forecast period. 

Which are the Key Regions for the Forging Market?

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APAC is estimated to account for 67% of the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

China is the world's largest car manufacturer. In 2021, more than 26 million cars were sold in the country. India has also witnessed robust year-over-year growth rates in recent years in terms of the production of passenger vehicles (PVs), commercial vehicles (CVs), three-wheelers, and two-wheelers. The high growth in the production of automobiles in APAC is expected to drive the demand for forged parts and components during the forecast period. This, in turn, will drive the growth of the market in the region. 

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. Several industries, such as automotive, manufacturing, oil, and gas, witnessed disruption in production due to the outbreak of COVID-19 in 2020 and 2021. However, by the end of 2021, the market regained momentum. Moreover, countries in the region announced economic stimulus packages to bail out their economies from the negative effects of the pandemic. In addition, the lifting of lockdown restrictions increased the demand for forging from various end-user industries. Government initiatives will also support the growth of various end-user industries, which will drive the growth of the forging market in North America during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by End-user (Automotive and Others), Product (Closed die forging, Open die forging, and Seamless rings), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • End-user Outlook (Million tons, 2017 - 2027)
    • Automotive
    • Others
  • Product Outlook ( Million tons, 2017 - 2027)
    • Closed die forging
    • Open die forging
    • Seamless rings
  • Region Outlook (Million tons, 2017 - 2027)
    • North America
      • The US
      • Canada
    • Europe
      • The UK
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East and Africa
    • South America
      • Argentina
      • Brazil
      • Chile

Forging Market Scope

Report Coverage

Details

Page number

163

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.82%

Market growth 2023-2027

17.34 mn t

Market structure

Fragmented

YoY growth 2022-2023(%)

5.26

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 67%

Key countries

US, China, India, Germany, and Italy

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aichi Steel Corp., Ajax Tocco Magnethermic Corp., Alicon Castalloy Ltd., All Metals and Forge Group, Allegheny Technologies Inc., Aluminum Precision Products, American Axle and Manufacturing Holdings Inc., Asahi Forge Corp., Bharat Forge Ltd., Bruck GmbH, Consolidated Industries Inc., Farinia SA, Fountaintown Forge Inc., Larsen and Toubro Ltd., Mitsubishi Steel Mfg. Co. Ltd., Pacific Forge Inc., Patriot Forge Co., Scot Forge Co., Sumitomo Heavy Industries Ltd., and thyssenkrupp AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Forging Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the forging market between 2023 and 2027
  • Precise estimation of the size of the forging market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of forging market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (million t)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (million t)
      • Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global forging market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global forging market 2017 - 2021 (million t)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 (million t)
    • 4.3 Product Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 (million t)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (million t)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (million t)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Automotive - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Automotive - Market size and forecast 2022-2027 (million t)
      • Exhibit 35: Data Table on Automotive - Market size and forecast 2022-2027 (million t)
      • Exhibit 36: Chart on Automotive - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Automotive - Year-over-year growth 2022-2027 (%)
    • 6.4 Others - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Others - Market size and forecast 2022-2027 (million t)
      • Exhibit 39: Data Table on Others - Market size and forecast 2022-2027 (million t)
      • Exhibit 40: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 42: Market opportunity by End-user (million t)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 43: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Product - Market share 2022-2027 (%)
    • 7.2 Comparison by Product
      • Exhibit 45: Chart on Comparison by Product
      • Exhibit 46: Data Table on Comparison by Product
    • 7.3 Closed die forging - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Closed die forging - Market size and forecast 2022-2027 (million t)
      • Exhibit 48: Data Table on Closed die forging - Market size and forecast 2022-2027 (million t)
      • Exhibit 49: Chart on Closed die forging - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Closed die forging - Year-over-year growth 2022-2027 (%)
    • 7.4 Open die forging - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Open die forging - Market size and forecast 2022-2027 (million t)
      • Exhibit 52: Data Table on Open die forging - Market size and forecast 2022-2027 (million t)
      • Exhibit 53: Chart on Open die forging - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Open die forging - Year-over-year growth 2022-2027 (%)
    • 7.5 Seamless rings - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Seamless rings - Market size and forecast 2022-2027 (million t)
      • Exhibit 56: Data Table on Seamless rings - Market size and forecast 2022-2027 (million t)
      • Exhibit 57: Chart on Seamless rings - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Seamless rings - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Product
      • Exhibit 59: Market opportunity by Product (million t)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 (million t)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 (million t)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 (million t)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 (million t)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 (million t)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 (million t)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 (million t)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 (million t)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 (million t)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (million t)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 (million t)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 (million t)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 Germany - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 (million t)
      • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 (million t)
      • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.10 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 (million t)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 (million t)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.11 India - Market size and forecast 2022-2027
      • Exhibit 97: Chart on India - Market size and forecast 2022-2027 (million t)
      • Exhibit 98: Data Table on India - Market size and forecast 2022-2027 (million t)
      • Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.12 Italy - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Italy - Market size and forecast 2022-2027 (million t)
      • Exhibit 102: Data Table on Italy - Market size and forecast 2022-2027 (million t)
      • Exhibit 103: Chart on Italy - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Italy - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography (million t)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 Aichi Steel Corp.
              • Exhibit 112: Aichi Steel Corp. - Overview
              • Exhibit 113: Aichi Steel Corp. - Business segments
              • Exhibit 114: Aichi Steel Corp. - Key offerings
              • Exhibit 115: Aichi Steel Corp. - Segment focus
            • 12.4 Ajax Tocco Magnethermic Corp.
              • Exhibit 116: Ajax Tocco Magnethermic Corp. - Overview
              • Exhibit 117: Ajax Tocco Magnethermic Corp. - Product / Service
              • Exhibit 118: Ajax Tocco Magnethermic Corp. - Key offerings
            • 12.5 Alicon Castalloy Ltd.
              • Exhibit 119: Alicon Castalloy Ltd. - Overview
              • Exhibit 120: Alicon Castalloy Ltd. - Product / Service
              • Exhibit 121: Alicon Castalloy Ltd. - Key offerings
            • 12.6 All Metals and Forge Group
              • Exhibit 122: All Metals and Forge Group - Overview
              • Exhibit 123: All Metals and Forge Group - Product / Service
              • Exhibit 124: All Metals and Forge Group - Key offerings
            • 12.7 Allegheny Technologies Inc.
              • Exhibit 125: Allegheny Technologies Inc. - Overview
              • Exhibit 126: Allegheny Technologies Inc. - Business segments
              • Exhibit 127: Allegheny Technologies Inc. - Key news
              • Exhibit 128: Allegheny Technologies Inc. - Key offerings
              • Exhibit 129: Allegheny Technologies Inc. - Segment focus
            • 12.8 Aluminum Precision Products
              • Exhibit 130: Aluminum Precision Products - Overview
              • Exhibit 131: Aluminum Precision Products - Product / Service
              • Exhibit 132: Aluminum Precision Products - Key offerings
            • 12.9 American Axle and Manufacturing Holdings Inc.
              • Exhibit 133: American Axle and Manufacturing Holdings Inc. - Overview
              • Exhibit 134: American Axle and Manufacturing Holdings Inc. - Business segments
              • Exhibit 135: American Axle and Manufacturing Holdings Inc. - Key offerings
              • Exhibit 136: American Axle and Manufacturing Holdings Inc. - Segment focus
            • 12.10 Asahi Forge Corp.
              • Exhibit 137: Asahi Forge Corp. - Overview
              • Exhibit 138: Asahi Forge Corp. - Product / Service
              • Exhibit 139: Asahi Forge Corp. - Key offerings
            • 12.11 Bharat Forge Ltd.
              • Exhibit 140: Bharat Forge Ltd. - Overview
              • Exhibit 141: Bharat Forge Ltd. - Business segments
              • Exhibit 142: Bharat Forge Ltd. - Key offerings
              • Exhibit 143: Bharat Forge Ltd. - Segment focus
            • 12.12 Bruck GmbH
              • Exhibit 144: Bruck GmbH - Overview
              • Exhibit 145: Bruck GmbH - Product / Service
              • Exhibit 146: Bruck GmbH - Key offerings
            • 12.13 Consolidated Industries Inc.
              • Exhibit 147: Consolidated Industries Inc. - Overview
              • Exhibit 148: Consolidated Industries Inc. - Product / Service
              • Exhibit 149: Consolidated Industries Inc. - Key offerings
            • 12.14 Farinia SA
              • Exhibit 150: Farinia SA - Overview
              • Exhibit 151: Farinia SA - Product / Service
              • Exhibit 152: Farinia SA - Key offerings
            • 12.15 Fountaintown Forge Inc.
              • Exhibit 153: Fountaintown Forge Inc. - Overview
              • Exhibit 154: Fountaintown Forge Inc. - Product / Service
              • Exhibit 155: Fountaintown Forge Inc. - Key offerings
            • 12.16 Larsen and Toubro Ltd.
              • Exhibit 156: Larsen and Toubro Ltd. - Overview
              • Exhibit 157: Larsen and Toubro Ltd. - Business segments
              • Exhibit 158: Larsen and Toubro Ltd. - Key news
              • Exhibit 159: Larsen and Toubro Ltd. - Key offerings
              • Exhibit 160: Larsen and Toubro Ltd. - Segment focus
            • 12.17 Mitsubishi Steel Mfg. Co. Ltd.
              • Exhibit 161: Mitsubishi Steel Mfg. Co. Ltd. - Overview
              • Exhibit 162: Mitsubishi Steel Mfg. Co. Ltd. - Business segments
              • Exhibit 163: Mitsubishi Steel Mfg. Co. Ltd. - Key offerings
              • Exhibit 164: Mitsubishi Steel Mfg. Co. Ltd. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 165: Inclusions checklist
                • Exhibit 166: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 167: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 168: Research methodology
                • Exhibit 169: Validation techniques employed for market sizing
                • Exhibit 170: Information sources
              • 13.5 List of abbreviations
                • Exhibit 171: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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