#ClosedDieForging

[market-insider]

Market Opportunities in Stainless Steel Forgings

The global stainless steel forgings market size is expected to reach USD 8.10 billion by 2030, registering a CAGR of 7.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Positive energy and construction industry outlook is expected to boost the market growth of stainless steel forgings over the forecast period.

Stainless steel forgings are now finding acceptance across various end-use industries on account of characteristics such as economic viability, reliability, and strength. These forgings exhibit higher strength than other steel alloys and also have good corrosion resistance. The forged products also have a higher strength to weight ratio on account of which they are used in a large number of applications.

The industrial application was the dominant segment in the market. The demand is driven by countries such as China and Japan due to a presence of a large number of heavy component manufacturers present. The growing usage of this product in automotive is expected to boost the overall demand. The application of stainless steel forgings in aviation is also expected to boost the demand over the forecast period.

Stainless Steel Forgings Market Report Highlights

The automotive segment dominated the market and accounted for a share of 52.9% in 2023. The significant growth of the market can be attributed to the widespread use of forged parts in automobiles, ranging from engine components and chassis structures to transmission parts.

The aerospace & defense segment is expected to grow at the fastest CAGR over the forecast period due to the utilization of steel forging to fabricate essential, high-strength components necessary for aircraft and spacecraft.

Closed die dominated the market and accounted for a revenue share of 74.9% in 2023. The process of closed die forging offers remarkable precision and dimensional accuracy, enabling manufacturers to craft difficult shapes with tight tolerances, making it an ideal choice for producing critical components.

The open die segment is expected to grow at the fastest CAGR over the forecast period due to its applications in construction, automotive, aerospace, and machinery manufacturing.

North America stainless steel forgings market is expected to grow at the fastest CAGR over the forecast period. Investments in aerospace and defense, as well as the upgrading of infrastructure, are contributing to the growing demand for high-quality forged components.

Asia Pacific stainless steel forgings market dominated in 2023 with a revenue share of 48.9%. Asia Pacific demand is anticipated to be driven by the growth of manufacturing operations in emerging economies such as Japan, China, and India.

Request a free sample copy or view report summary: Stainless Steel Forgings Market Report

[tajforgings]

Gear Shaft Manufacturing Industry | Taj Forging

Taj Forging Pvt Ltd is one of the leading forging companies in India manufacturing the finest quality forging components for automobile parts, agricultural products, railway products, earth mover products, defense products etc. In the field of gear shaft manufacturing industry, the name of Taj Forging organization is most popular in India and Asia. It is the only organization available in India that provides good gear shaft products as per the need of the customers. If you are looking for gear shaft in-house manufacturing products near you then your search ends today as your trusted organization is here to fulfill your requirements as per your budget.

[emersonforgeindia-blog]

Emerson Forge Pvt. Ltd - Leading Open & Closed Die Forging Company India

HEXAGONAL HEAD END CAPS - a forged component for hardware construction range by Emerson Forge India.

[anyang-forging-press]

Automatic Forging Line of Elcetric Screw Press

J58K Series Electric Screw Press/suitable for all kinds of precision forging, sizing, precision pressing, calibration and leveling, etc processes. The hitting energy can be accurately set, the stroke is short, and the energy is stable. The hitting energy can be adjusted according to the metal forming needs to reduce the mechanical stress and thermal stress of forging dies, prolong the lifespan of the forging dies. Because of its low slider speed, it has unique advantages in forging non-ferrous metals such as aluminum alloy and copper. The J58K Series Electric Screw Press produced by our company adopts advanced frequency conversion control technology, it has a simple and reliable structure, can provide greater working energy, also it has the following features and advantages to make it widely used in forging production. If you are interested in it, pls contact me. Felicia Whatsapp/WeChat: +86-16692292870 felicia@anyanghammer.com

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[emersonforgeindia-blog]

Closed Die Forgings

closed die forgings expert manufacturers