The
forging market is expected to grow by 14.14 million tons
during 2020-2024, according to the latest market research report by Technavio.
The advantage of forging over other
fabrication techniques is a major factor driving the market's growth. Forging
results in the modification of internal gains metals. Under controlled
conditions, the heated metal changes mechanically to make the desired products,
which have uniform grain size and flow characteristics. This leads to the
refinement of the forged metal and reduces its porosity. As a result, the final
product obtained possesses superior mechanical and metallurgical properties as
well as improved directional strength. Additionally, forged arts have improved
structural integrity, which ensures optimum performance by part or component
under field conditions. It is believed that forged parts can sustain any load,
stress, or impact. Forging makes the metal tough, ductile, and capable of
withstanding fatigue while also imparts uniformity to the grain flow.
As per Technavio, the developments in
robotics to enhance forging operations will have a positive impact on the
market and contribute to its growth significantly over the forecast period.
This research report also analyzes other significant trends and market drivers
that will influence market growth over 2020-2024.
Forging Market: Developments in
Robotics to Enhance Forging Operations
Forging techniques for manufacturing
components and parts are extensively used in industries such as automotive,
aerospace, and medical. Automation is a key factor in achieving high
productivity while also ensuring flexibility in lot sizes. Automation in the
forging industry enables quick changeover between batches, enhances the volume
of production, and results in improved manufacturing tolerances and improved
product quality. Thus, recent advances in robotics have resulted in several
benefits for designers of high-volume forging lines. Collision resistance is
one such detailing, where robots use sensors to interact with other machines to
avoid the possibility of contact while handling the workpiece. The sensors
fitted in the robots allow them to eliminate the possibility of crashing with
the other moving parts in the production process. Thus, the developments in
robotics to enhance forging operations is expected to drive the growth of the
market.
Forging Market: Segmentation Analysis
This market research report segments
the forging market by
product (closed die forging, open die forging and seamless rings), end-user
(automotive and others), and geography (North America, APAC, Europe, South
America, and MEA).
The APAC region led the forging
market in 2019, followed by Europe, North America, South America, and MEA.
During the forecast period, the APAC region is expected to register the highest
incremental growth due to the strong growth in the production of automobiles.
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