DUBLIN, June 16, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Forging Presses Market 2017-2021" report to their offering.
The global forging presses market to grow at a CAGR of 10.16% during the period 2017-2021.
The report, Global Forging Presses Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is introduction of hybrid forging techniques. Forging is considered an economical process when compared with casting and fabrication. While considering the product lifecycle, which includes everything from procuring and scrapping costs, the benefits realized by forging are much higher than the short-term cost benefits of casting and fabrication. With the growing use of CAD and innovations in forging techniques, the costs, as well as time, can be further optimized. One recent innovation is the use of a hybrid and open die-closed die design. The design imparts additional flexibility to the product and can be used for low volume production where the costs incurred for dies are not justified. Hybrid forging combines the advantages of open die casting with the net-shape abilities of closed die forging, which results in savings in terms of cost and time during the forging process. Moreover, the easy availability of the tool reduces the production lead time and can help in meeting flexible order quantities.
According to the report, one driver in market is growing demand for renewable energy equipment. The US Energy Information Administration (EIA) states that the world had consumed 524 quadrillion BTU of energy in 2010. The US EIA estimates that the energy consumption will likely reach 630 quadrillion BTU by 2020 and 820 quadrillion BTU by 2040. During 2010-2040, more than 85% of the energy demand is expected to originate from developing countries owing to their strong economic and rapid population growth. Countries such as China, the UAE, India, and Brazil are heavily investing in renewable sources to meet the future energy demand.
- Ajax CECO
- Anyang Forging Press
- ERIE Press Systems
- Sumitomo Heavy Industries
Other prominent vendors
- China National Erzhong Group
- Isgec Heavy Engineering
- J&H Press
- JSC "Tjazhmekhpress"
- Lien Chieh Machinery
- Northern Heavy Industries Group
- QingDao Rungchang YiYou Machinery
- SMS group
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Decision framework
PART 08: Drivers and challenges
PART 09: Market trends
PART 10: Vendor landscape
PART 11: Key vendor analysis
For more information about this report visit https://www.researchandmarkets.com/research/g3c4wf/global_forging
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SOURCE Research and Markets