Analysis on the Development of Forging Industry

Analysis on the Development of Forging Industry

Jul 10, 2020


Modern forging industry has a history of hundreds of years in developed countries such as Europe and America. Therefore, advanced forging technology has been monopolized by Germany, America, Japan and Russia.

China's forging industry started later than that of developed countries, thus many key forging products mostly depend on imports. However, with the development of social economic level and the increase of communication opportunities with foreign countries, China's forging technology and process level have made rapid progress. Many products have been localized, and some products have been able to exported abroad to compete with similar products in developed countries.

With the development of economy and the progress of equipment manufacturing industry, China's forging manufacturing industry has ushered in a new period of rapid growth. From 2010 to 2013, China's forging output increased from 7,052,100 tons in 2010 to 8,815,700 tons in 2013, with a compound annual growth rate of 7.72%, which performs a relatively steady growth.

In 2014, China's forging output increased to 12,306,600 tons, with a rapid growth rate. As of October 2015, the cumulative value of forging output in China was 10.112 million tons. China's forging industry has developed on the basis of introducing, digesting and absorbing foreign technologies. After years of technological development and transformation, the technical level of leading enterprises in the industry, including process design, forging technology, heat treatment technology, machining technology and product inspection, has been greatly improved.

Forging output and growth rate in China, 2010-2014

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