Forging Market in North America to grow by USD 3.45 billion from 2021 to 2026 | Alcoa Corp. & Allegheny Technologies Inc.|17000+ Technavio Reports

• Total Pages: 120
• Companies: 10+ – Including Alcoa Corp., Allegheny Technologies Inc., Aluminum Precision Products, American Axle and Manufacturing Inc., Asahi Forge Corp., Berkshire Hathaway Inc.,  FRISA INDUSTRIAS SA de CV, Park-Ohio Holdings Corp., and among others.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: End-user (automotive, aerospace, and others) & Type (closed die forging, open die forging, and seamless rings)
• Geographies: US, Mexico, and Canada

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The forging market share in North America is expected to increase by USD 3.45 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.34%. The forging market share growth in North America by the automotive segment will be significant during the forecast period. The automotive sector is expected to record steady production activities during the forecast period due to augmented demand. The increasing manufacturing of auto parts would augment the demand for forging in the automotive segment. Precision component manufacturing is of high importance, especially for modern vehicles that come equipped with various electronic devices responsible for performance.

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Vendor Insights-

The Forging Market in North America is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.

• Alcoa Corp. -The company offers forged aluminum disc wheels and accessories for heavy-duty trucks and trailers, buses, recreational vehicles, light trucks and SUVs, motorcycles, and more.
• Allegheny Technologies Inc. -The company offers to forge products such as Isothermal Forgings, Hot-Die Forgings, and Closed Die (Impression Die) Forgings.
• American Axle and Manufacturing Inc - The company offers forging and machining process technologies centered around manufacturing lightweight and power-dense products.

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Regional Market Outlook

54% of the market's growth will originate from the US during the forecast period. US, Mexico, and Canada are the key markets for forging in North America. Market growth in this region will be slower than the growth of the market in other regions. The manufacturing sector in North America is showing signs of growth as the government of the US is focusing on bringing back manufacturing jobs. This will facilitate the forging market growth in the US over the forecast period.

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Latest Drivers & Trends Driving the Market-

• Forging Market in North America Driver:
• Benefits of forging overcasting.:
  
  The key factor driving growth in the forging market in North America is the benefits of forging overcasting. The internal grains of metals undergo modification and take the generic shape of the parts to be manufactured during forging. The heated metal is mechanically changed under optimized conditions to manufacture parts that have uniform grain size and flow characteristics. This helps in refining the forged metal and removing its porosity. The final product exhibits superior metallurgical and mechanical qualities as well as improved directional strength. The forging process offers uniformity to the grain flow and makes it tough, ductile, and capable of withstanding fatigue. High-strength steel components have substantial demand across the automotive, power, mining, and aerospace industries. 

• Forging Market in North America Trend:
• Development of all-in-one 3D printing, casting, and forging techniques:
  
  The development of all-in-one 3D printing, casting, and forging techniques is a major trend supporting the forging market share growth in North America. Additive manufacturing has become a popular choice for manufacturing metal parts in various industries. However, three-dimensional (3D) printed materials face significant challenges. Porosity and lack of fusion are a few of the problems that the advocates of traditional manufacturing technology have cited.  A combined 3D printing, casting, and forging machine has been developed. This machine is expected to bring a technological divide in the global manufacturing scenario. This machine combines all the benefits of the three technologies into a single machine saving on costs as well as enhancing manufacturing efficiency.  

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 Value Chain Analysis

The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period. The value chain of the Forging Market in North America includes the following core components:

• Inputs
• Operations
• Mine development and extraction
• Outbound logistics
• Marketing and sales
• Support activities
• Innovation

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Table of Contents:

***1. Executive Summary                        

***2. Market Landscape                          

              **2.1 Market ecosystem            

                             *Exhibit 01: Parent market

              **2.2 Market Characteristics     

              **2.3 Value chain analysis         

                             *Exhibit 10:  Value chain analysis

                             *2.2.1 Inputs

                             *2.2.2 Operations

                             *2.2.3 Mine development and extraction

                             *2.2.4 Outbound logistics

                             *2.2.5Marketing and sales

                             *2.2.6End-user industries

                             *2.2.7Support activities

                             *2.2.8Innovations

***3. Market Sizing                     

              **3.1 Market definition

                             *Exhibit 04: Offerings of vendors included in the market definition

              **3.2 Market segment analysis 

                             *Exhibit 05: Market segments

              **3.3 Market size 2020 

              **3.4 Market outlook: Forecast for 2020 - 2025 

                             *Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ million)

                             *Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                        

              **4.1 Five Forces Summary       

                             *Exhibit 08: Five forces analysis 2020 & 2025

              **4.2 Bargaining power of buyers          

              **4.3 Bargaining power of suppliers      

              **4.4 Threat of new entrants    

              **4.5 Threat of substitutes        

              **4.6 Threat of rivalry  

              **4.7 Market condition

                             *Exhibit 21: Market condition - Five forces 2021

***5. Market Segmentation by End-user                          

              **5.1 Market segments

                             *The segments covered in this chapter are:

·         *Automotive

·         *Aerospace

·         *Others

                             *Exhibit 22:  End-user - Market share 2021-2026 (%)

              **5.2Comparison by End-user  

                             *Exhibit 23:  Comparison by End-user

              **5.3Automotive - Market size and forecast 2021-2026 

                             *Exhibit 24:  Automotive - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 25:  Automotive - Year-over-year growth 2021-2026 (%)

              **5.4Aerospace - Market size and forecast 2021-2026    

                             *Exhibit 26:  Aerospace - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 27:  Aerospace - Year-over-year growth 2021-2026 (%)

              **5.5Others - Market size and forecast 2021-2026          

                             *Exhibit 28:  Others - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 29:  Others - Year-over-year growth 2021-2026 (%)

              **5.6Market opportunity by End-user   

                             *Exhibit 30:  Market opportunity by End-user

***6. Market Segmentation by Type     

  **6.1Market segments 

                             *The segments covered in this chapter are:

·         *Closed die forging

·         *Open die forging

·         *Seamless rings

                             *Exhibit 31:  Type - Market share 2021-2026 (%)

              **6.2Comparison by Type          

                             *Exhibit 32:  Comparison by Type

              **6.3Closed die forging - Market size and forecast 2021-2026     

                             *Exhibit 33:  Closed die forging - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 34:  Closed die forging - Year-over-year growth 2021-2026 (%)

              **6.4Open die forging - Market size and forecast 2021-2026       

                             *Exhibit 35:  Open die forging - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 36:  Open die forging - Year-over-year growth 2021-2026 (%)

              **6.5Seamless rings - Market size and forecast 2021-2026           

                             *Exhibit 37:  Seamless rings - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 38:  Seamless rings - Year-over-year growth 2021-2026 (%)

              **6.6Market opportunity by Type          

                             *Exhibit 39:  Market opportunity by Type

***7. Customer landscape                       

              **7.1Overview 

                             *Exhibit 40:  Customer landscape

***8. Geographic Landscape     

  **8.1Geographic segmentation

                             *Exhibit 41:  Market share by geography 2021-2026 (%)

              **8.2Geographic comparison   

                             *Exhibit 42:  Geographic comparison

              **8.3US - Market size and forecast 2021-2026   

                             *Exhibit 43:  US - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 44:  US - Year-over-year growth 2021-2026 (%)

              **8.4Mexico - Market size and forecast 2021-2026         

                             *Exhibit 45:  Mexico - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 46:  Mexico - Year-over-year growth 2021-2026 (%)

              **8.5Canada - Market size and forecast 2021-2026         

                             *Exhibit 47:  Canada - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 48:  Canada - Year-over-year growth 2021-2026 (%)

              **8.6Market opportunity by geography

                             *Exhibit 49:  Market opportunity by geography ($ million)

***9. Drivers, Challenges, and Trends                 

              **9.1Market drivers      

                             *9.1.1Benefits of forging over casting

                             *9.1.2Rising need for superior quality products

                             *9.1.3Forging, a cost-effective metal forming technique

              **9.2Market challenges

                             *9.2.1Growing popularity of latest casting technologies

                             *9.2.2Lack of skilled workforce

                             *9.2.3Rising environmental concerns

                             *Exhibit 50:  Impact of drivers and challenges

              **9.3Market trends      

                             *9.3.1Development of all-in-one 3D printing, casting, and forging technique

                             *9.3.2Application of robotics to enhance forging operations

                             *9.3.3Technological innovations

***10. Vendor Landscape                        

              **10.1  Competitive scenario    

              **10.2  Vendor landscape          

                             *Exhibit 40: Vendor Landscape

              **10.3  Landscape disruption    

                             *Exhibit 41: Landscape disruption

              **10.4  Industry risks    

                             *Exhibit 42: Industry risks

***11.  Vendor Analysis                           

              **11.1  Vendors covered            

                             *Exhibit 43: Vendors covered

              **11.2 Market positioning of vendors  

                             *Exhibit 51: Market positioning of vendors

              **11.3Alcoa Corp.

                             *Exhibit 56:  Alcoa Corp. - Overview

                             *Exhibit 57:  Alcoa Corp. - Business segments

                             *Exhibit 58:  Alcoa Corp. - Key news

                             *Exhibit 59:  Alcoa Corp. - Key offerings

                             *Exhibit 60:  Alcoa Corp. - Segment focus

              **11.4Allegheny Technologies Inc.         

                             *Exhibit 61:  Allegheny Technologies Inc. - Overview

                             *Exhibit 62:  Allegheny Technologies Inc. - Business segments

                             *Exhibit 63:  Allegheny Technologies Inc. - Key offerings

                             *Exhibit 64:  Allegheny Technologies Inc. - Segment focus

              **11.5Aluminum Precision Products      

                             *Exhibit 65:  Aluminum Precision Products - Overview

                             *Exhibit 66:  Aluminum Precision Products - Product and service

                             *Exhibit 67:  Aluminum Precision Products - Key offerings

              **11.6American Axle and Manufacturing Inc.    

                             *Exhibit 68:  American Axle and Manufacturing Inc. - Overview

                             *Exhibit 69:  American Axle and Manufacturing Inc. - Business segments

                             *Exhibit 70:  American Axle and Manufacturing Inc.- Key news

                             *Exhibit 71:  American Axle and Manufacturing Inc. - Key offerings

                             *Exhibit 72:  American Axle and Manufacturing Inc. - Segment focus

              **11.7Asahi Forge Corp.             

                             *Exhibit 73:  Asahi Forge Corp. - Overview

                             *Exhibit 74:  Asahi Forge Corp. - Product and service

                             *Exhibit 75:  Asahi Forge Corp. - Key offerings

              **11.8Berkshire Hathaway Inc. 

                             *Exhibit 76:  Berkshire Hathaway Inc. - Overview

                             *Exhibit 77:  Berkshire Hathaway Inc. - Business segments

                             *Exhibit 78:  Berkshire Hathaway Inc. - Key offerings

                             *Exhibit 79:  Berkshire Hathaway Inc. - Segment focus

              **11.9ELLWOOD Group Inc.      

                             *Exhibit 80:  ELLWOOD Group Inc. - Overview

                             *Exhibit 81:  ELLWOOD Group Inc. - Product and service

                             *Exhibit 82:  ELLWOOD Group Inc. - Key news

                             *Exhibit 83:  ELLWOOD Group Inc. - Key offerings

              **11.10FRISA INDUSTRIAS SA de CV       

                             *Exhibit 84:  FRISA INDUSTRIAS SA de CV - Overview

                             *Exhibit 85:  FRISA INDUSTRIAS SA de CV - Product and service

                             *Exhibit 86:  FRISA INDUSTRIAS SA de CV - Key offerings

              **11.11Park-Ohio Holdings Corp.           

                             *Exhibit 87:  Park-Ohio Holdings Corp. - Overview

                             *Exhibit 88:  Park-Ohio Holdings Corp. - Business segments

                             *Exhibit 89:  Park-Ohio Holdings Corp. - Key news

                             *Exhibit 90:  Park-Ohio Holdings Corp. - Key offerings

                             *Exhibit 91:  Park-Ohio Holdings Corp. - Segment focus

              **11.12Scot Forge Co.  

                             *Exhibit 92:  Scot Forge Co. - Overview

                             *Exhibit 93:  Scot Forge Co. - Product and service

                             *Exhibit 94:  Scot Forge Co. - Key offerings

***12. Appendix                          

              **12.1 Scope of the report        

                             *12.1.1 Market definition

                             *12.1.2 Objectives

                             *12.1.3 Notes and caveats

              **12.2 Currency conversion rates for US$           

                             *Exhibit 82:Currency conversion rates for US$?

              **12.3 Research Methodology  

                             *Exhibit 83: Research Methodology

                             *Exhibit 84: Validation techniques employed for market sizing?

                             *Exhibit 85: Information sources

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