SAN FRANCISCO, November 23, 2016 /PRNewswire/ --
The global stainless steel forgings market is expected to reach USD 13.57 billion by 2024, 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.
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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.
Browse full research report with TOC on "Stainless Steel Forgings Market Size And Forecast By Product (Cold/Hot Forged Products, Castings, Sintered Parts), By Application (Building & Construction, Industrial, Automotive, Aviation, Consumer Goods), By Region And Trend Analysis From 2013 To 2024" at: http://www.grandviewresearch.com/industry-analysis/stainless-steel-forgings-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global stainless steel forgings market on the basis of product, application, and region:
Access research insight: http://www.grandviewresearch.com/research-insights/stainless-steel-forgings-market-insight
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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