DROP FORGING
MARKET OVERVIEW
The market is driven by the increasing demand from the automotive, aerospace, and industrial sectors.
Drop forging is a metal shaping process that involves hammering a heated piece of metal between a stationary and moving part of a die, enabling the production of high-strength, durable components.
MARKET SIZE AND GROWTH
01 02
MARKET SIZE (2023):
APPROXIMATELY USD 214 MILLION.
PROJECTED MARKET SIZE (2032): AROUND USD 318.02 MILLION
COMPOUND ANNUAL GROWTH RATE (CAGR): 4.50% DURING THE FORECAST PERIOD.
MARKET SEGMENTATION
By Type
Open-Die Drop Forging
Closed-Die Drop
Forging
By Application
Automotive
Aerospace
Industrial Machinery
Construction Equipment
Others
REGIONAL ANALYSIS
Study focuses on evaluating the market landscape, consumer trends, and competition pertinent to the new product.
EUROPE
MIDDLE EAST & LATIN AMERICA
Increasing investments in heavy machinery and energy sectors
Established automotive and aerospace industries driving demand
NORTH AMERICA
Strong demand in the automotive and defense sectors.
ASIA-PACIFIC
Rapid industrialization and infrastructural development.
KEY PLAYERS
Precision
Castparts
Corp
Bharat
