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Aluminum Forging Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

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  • 119 Pages
  • August 2022
  • Region: Global
  • Acute Market Reports
  • ID: 5707256
Description Jump to:

Growing Demand of Aluminum to boost the growth for Aluminum Forging Market

The aluminum forging market worldwide is expected to grow with a CAGR of 5.4% during the forecast period from 2022 to 2030, starting from US$ 13.47 Bn in 2020. Rapid increase in aluminum demand in automotive and aerospace industry is the key factor for growth of aluminum forging market worldwide. The process of pounding and pressing the aluminum under pressure is known as aluminum forging. Further, with the aforementioned process high strength and low weight aluminum parts are being manufactured for different industries such as defense, mining, construction, automotive and others. Growing demand of aluminum forging owing to its benefits such as low density, flexibility, toughness and others is one of the major growth factor for the market. Therefore, we expect that the aluminum forging market will show healthy growth throughout the forecast period.

Automotive Segment will continue its Dominance

The aluminum forging market by application is split into aerospace, automotive, defense and others (construction, mining, etc.). In 2020, automotive segment was the largest value contributor and accounts for around 1/3rd of the revenue share in the same year. Increased application of aluminum in the automotive sector is the key driver for the growth of the segment. On account of light weight, low density, resistance, toughness and other benefits of aluminum forging has increased the use of aluminum in automotive production. Consequently, we expect that the automotive segment will dominate the aluminum forging market throughout the forecast period.

Asia Pacific will continue leading the market

In 2020, Asia Pacific was the largest value contributor in the aluminum forging market. Asia Pacific accounts for nearly 35% of the revenue share in the same year. Growth of manufacturing industry in the developing economies of Asia Pacific such as China and India is the major growth factor for the region. Hefty investments for the growth of construction and manufacturing industry is the other major factor driving the growth of Asia Pacific. As a result of aforementioned factors, we expect that the Asia Pacific region will continue leading the market during the forecast period.

Some of the prominent players operating in the aluminum forging market Aichi Steel, Alcoa Corporation, Bharat Forge Limited, Nippon Steel Corporation, ThyssenKrupp AG, Aluminum Precision Products, American Handforge, KITZ CORPORATION, Ellwood Group Inc, Arconic Inc. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Aluminum Forging market are as follows:
  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Aluminum Forging market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Product

  • Open Die Forging
  • Close Die Forging
  • Ring Rolled Forging

Application

  • Aerospace
  • Aerospace
  • Defense
  • Others (Construction, Mining, etc.)

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Aluminum Forging market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2030.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Aluminum Forging market?
  • Which is the largest regional market for Aluminum Forging market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Aluminum Forging market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Aluminum Forging market worldwide?


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Table of Contents

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global Aluminum Forging Market
2.2. Global Aluminum Forging Market, By Product, 2021 (US$ Million)
2.3. Global Aluminum Forging Market, By Application, 2021 (US$ Million)
2.4. Global Aluminum Forging Market, By Geography, 2021 (US$ Million)
2.5. Attractive Investment Proposition by Geography, 2021
3. Aluminum Forging Market: Competitive Analysis
3.1. Market Positioning of Key Aluminum Forging Market Vendors
3.2. Strategies Adopted by Aluminum Forging Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030
4. Aluminum Forging Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Aluminum Forging Market Value, 2020 - 2030, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
5. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Open Die Forging
5.3.2. Close Die Forging
5.3.3. Ring Rolled Forging
6. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Aerospace
6.3.2. Aerospace
6.3.3. Defense
6.3.4. Others (Construction, Mining, etc.)
7. North America Aluminum Forging Market, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
7.3. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
7.4.Aluminum Forging Market: By Region, 2020-2030, USD (Million)
7.4.1.North America
7.4.1.1. U.S.
7.4.1.1.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
7.4.1.1.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
7.4.1.2. Canada
7.4.1.2.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
7.4.1.2.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
7.4.1.3. Rest of North America
7.4.1.3.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
7.4.1.3.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8. UK and European Union Aluminum Forging Market, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.3. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8.4.Aluminum Forging Market: By Region, 2020-2030, USD (Million)
8.4.1.UK and European Union
8.4.1.1. UK
8.4.1.1.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.4.1.1.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8.4.1.2. Germany
8.4.1.2.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.4.1.2.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8.4.1.3. Spain
8.4.1.3.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.4.1.3.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8.4.1.4. Italy
8.4.1.4.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.4.1.4.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8.4.1.5. France
8.4.1.5.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.4.1.5.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
8.4.1.6. Rest of Europe
8.4.1.6.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
8.4.1.6.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9. Asia Pacific Aluminum Forging Market, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.3. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9.4.Aluminum Forging Market: By Region, 2020-2030, USD (Million)
9.4.1.Asia Pacific
9.4.1.1. China
9.4.1.1.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.4.1.1.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9.4.1.2. Japan
9.4.1.2.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.4.1.2.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9.4.1.3. India
9.4.1.3.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.4.1.3.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9.4.1.4. Australia
9.4.1.4.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.4.1.4.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9.4.1.5. South Korea
9.4.1.5.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.4.1.5.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
9.4.1.6. Rest of Asia Pacific
9.4.1.6.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
9.4.1.6.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
10. Latin America Aluminum Forging Market, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
10.3. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
10.4.Aluminum Forging Market: By Region, 2020-2030, USD (Million)
10.4.1.Latin America
10.4.1.1. Brazil
10.4.1.1.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
10.4.1.1.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
10.4.1.2. Mexico
10.4.1.2.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
10.4.1.2.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
10.4.1.3. Rest of Latin America
10.4.1.3.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
10.4.1.3.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
11. Middle East and Africa Aluminum Forging Market, 2020-2030, USD (Million)
11.1. Market Overview
11.2. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
11.3. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
11.4.Aluminum Forging Market: By Region, 2020-2030, USD (Million)
11.4.1.Middle East and Africa
11.4.1.1. GCC
11.4.1.1.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
11.4.1.1.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
11.4.1.2. Africa
11.4.1.2.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
11.4.1.2.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
11.4.1.3. Rest of Middle East and Africa
11.4.1.3.1. Aluminum Forging Market: By Product, 2020-2030, USD (Million)
11.4.1.3.1. Aluminum Forging Market: By Application, 2020-2030, USD (Million)
12. Company Profile
12.1. Aichi Steel
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. Alcoa Corporation
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Bharat Forge Limited
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. Nippon Steel Corporation
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. thyssenkrupp AG
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. Aluminum Precision Products
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. American Handforge
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. KITZ CORPORATION
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. Ellwood Group Inc.
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives
12.10. Arconic Inc.
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Portfolio
12.10.4. Strategic Initiatives
List of Figures
Figure 1 Global Aluminum Forging Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Aluminum Forging Market: Quality Assurance
Figure 5 Global Aluminum Forging Market, By Product, 2021
Figure 6 Global Aluminum Forging Market, By Application, 2021
Figure 7 Global Aluminum Forging Market, By Geography, 2021
Figure 8 Market Geographical Opportunity Matrix - Global Aluminum Forging Market, 2021
Figure 9 Market Positioning of Key Aluminum Forging Market Players, 2021
Figure 10 Global Aluminum Forging Market - Tier Analysis - Percentage of Revenues by Tier Level, 2021 Versus 2030
Figure 11 Global Aluminum Forging Market, By Product, 2021 Vs 2030, %
Figure 12 Global Aluminum Forging Market, By Application, 2021 Vs 2030, %
Figure 13 U.S. Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 14 Canada Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 15 Rest of North America Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 16 UK Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 17 Germany Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 18 Spain Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 19 Italy Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 20 France Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 21 Rest of Europe Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 22 China Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 23 Japan Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 24 India Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 25 Australia Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 26 South Korea Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 27 Rest of Asia Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 28 Brazil Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 29 Mexico Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 30 Rest of Latin America Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 31 GCC Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 32 Africa Aluminum Forging Market (US$ Million), 2020 - 2030
Figure 33 Rest of Middle East and Africa Aluminum Forging Market (US$ Million), 2020 - 2030
List of Tables
Table 1 Global Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 2 Global Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 3 North America Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 4 North America Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 5 U.S. Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 6 U.S. Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 7 Canada Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 8 Canada Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 9 Rest of North America Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 10 Rest of North America Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 11 UK and European Union Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 12 UK and European Union Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 13 UK Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 14 UK Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 15 Germany Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 16 Germany Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 17 Spain Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 18 Spain Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 19 Italy Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 20 Italy Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 21 France Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 22 France Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 23 Rest of Europe Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 24 Rest of Europe Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 25 Asia Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 26 Asia Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 27 China Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 28 China Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 29 Japan Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 30 Japan Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 31 India Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 32 India Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 33 Australia Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 34 Australia Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 35 South Korea Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 36 South Korea Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 37 Latin America Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 38 Latin America Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 39 Brazil Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 40 Brazil Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 41 Mexico Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 42 Mexico Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 43 Rest of Latin America Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 44 Rest of Latin America Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 45 Middle East and Africa Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 46 Middle East and Africa Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 47 GCC Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 48 GCC Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 49 Africa Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 50 Africa Aluminum Forging Market By Application, 2020-2030, USD (Million)
Table 51 Rest of Middle East and Africa Aluminum Forging Market By Product, 2020-2030, USD (Million)
Table 52 Rest of Middle East and Africa Aluminum Forging Market By Application, 2020-2030, USD (Million)

Companies Mentioned

  • Aichi Steel
  • Alcoa Corporation
  • Bharat Forge Limited
  • Nippon Steel Corporation
  • ThyssenKrupp AG
  • Aluminum Precision Products
  • American Handforge
  • KITZ CORPORATION
  • Ellwood Group Inc
  • Arconic Inc.

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