The aluminum forging market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic negatively impacted the aluminum forging market. During COVID-19, automotive and transportation, aerospace, and other segments were heavily impacted (according to OICA, vehicle production was down more than 15% in 2020 compared to 2019), reducing consumption of aluminum-forged products in significant end-user segments. After 2020, the market grew steadily after continuous activity in the automotive and transport sectors.
The aluminum forging market is consolidated in nature. Some of the major players in the market (Not in any particular order) include Bharat Forge, ELLWOOD Group Inc., KOBE STEEL, LTD., ThyssenKrupp AG, and Precision Castparts Corp., among others.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook