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(MoneyNewsWire.Net, August 02, 2018 ) The forging and stamping market includes establishments engaged in manufacturing forgings from purchased metals, metal custom roll forming products, metal stamped and spun products, and powder metallurgy products.
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The global forging and stamping market was valued at $66 billion in 2017. Among regional markets, Asia Pacific was the largest geographic region accounting for more than half of the global market share. The market saw a growth as robotic automation systems are being implemented by the companies to improve safety and quality, reduce costs, and increase productivity. FANUC, Motoman, KUKA and ABB are the major suppliers of robotic automation systems.
The market in the report is segmented into: iron & steel forging, nonferrous forging, custom roll forming, powder metallurgy part manufacturing, metal crown, closure and other metal stamping.
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China was the largest country in the market, accounting for more than one-fourth of the global forging and stamping market share. This can be attributed to the large automobile and telecom manufacturing market in the country. China was followed by India and Japan as the next largest countries in the market.
The top five competitors in the market are: Magna International followed by ThyssenKrupp, Martinrea International, Harvey Vogel Manufacturing and Alcoa. Magna International Inc. is a Canadian global automotive supplier headquartered in Aurora, Ontario, Canada. In 2014, Magna became the largest automobile parts manufacturer in North America by sales of original equipment parts, and one of Canada's largest companies. Magna has approximately 168,000 employees in 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries.
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