Asia Pacific held the leading share of more than 55% of global market in 2016. In the years ahead, the region is expected to display the leading growth amongst other key regions. The growth of the region is mainly driven by the development of automotiveand construction industries. The development of the automotive industry is having apositive influence on the global forging industry by leaps and bounds.
The automotive industry utilizes as much as 65% of forged metals that is produced annually across theworld.The automotive segment held almost 64% of the global forging market in terms of volume in 2016. A report by Transparency Market Research projects the global forging market to expand at a CAGR of 4.4% from 2017 to 2025, for the market to reach a valuation of US$96,433.7 mn by 2025.
Based on the information of the Industry 4.0 and Made in China 2025, the Global Forging Summit China 2018 will be launched in Shanghai, China from May 24th-25th,2018. The summit will gather distinguished experts as well as industry leaders for athorough analysis of the latest regulatory dynamics and industry integration, raw materials trends,lightweight forging for automotive ,smart and next generation forgingin the industry 4.0 ,large forgings technology together with good practice sharing inIndia and Japan to accelerate industry restructuring, upgrading and integration.