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Directory of Forging Industry in India
Steel Guru, Oct 2008, Pages: 73
Forging is one of the oldest known metalworking processes. It is manufacturing process where metal is pressed, pounded or squeezed under great pressure into high strength parts known as forgings.
Some of the largest customer markets include: Automotive & Tool Industry. But, application is not limited to automotive sector alone and there is ample scope for expanding the market of forgings to various sectors like Steel, Coal, Metals & Metal Working Industry; Material Handling & Off Highway Equipment Industry; Cement, Chemical Processing & Oil Exploration Industry; Mechanical Power Transmission Equipment Industry; Sugar & Ship Building Industry; Power Sector; Electric Equipment Industry; Defense Sector; Farm Machinery Industry & Railway Sector.
The domestic automotive sector and outsourcing have been the key drivers of growth for the forging industry in India with consistent increase in production, capacity utilization and exports. The fortunes of the forging industry is on a rise due to the booming auto component industry with forging exports projected to touch the magic figure of US $5 billion (which is about 15% of the auto component exports) by 2015. Along with this, there exists ample scope for forgings consumption in many other sectors that would open up big business opportunities for the forging industry.
Considering the above, the demand for forgings is expected to be at least 16% per annum. Hence, the future looks rosy for the forging industry in terms of the expected surge in both global and domestic demand.
Published in October 2008, Directory of Forging Industry in India has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian forging industry.
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