Global Forging Market to Exhibit a Healthy CAGR of Around 8% During 2016-2020
Technavio predicts the global forging market to exhibit a healthy CAGR of around 8% during the forecast period. Forging is an appropriate substitution to the casting methodology as it ensures greater efficiency, reliability, and precision. Custom forging accounts for the largest segment. In North America, this segment achieves sales figures worth $6 billion annually. Some of the major end-users of the forging industry include automotive, aerospace and defense, agriculture, construction, mining, general industrial equipment, and material handling equipment to name...
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