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Global GCC Metal Forging Market by Process (Open Die, Closed Die), by Application (Wellhead Equipment, Turbine, Ball Valve) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CM-74082
  • Author: Up Market Research
  • Rating: 4.5
  • Total Reviews: 70
  • No. Of Pages: 216
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  • Pub. Date: 2021-10-21
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Summary of the Report

In 2018, the GCC metal forging market was valued at USD 1.08 Billion. It is expected to grow at a compound annual growth rate (CAGR of 2.1%) between 2019 and 2025. In the coming years, product consumption will be driven by a growing focus on infrastructure development in Asia Pacific countries.

Market growth is expected to be driven by the GCC's oil and gas industry. Over the forecast period, the demand for forged metal components, such as wellhead equipment, ball valves, electric motors and turbines, is expected to rise at a steady pace.

Saudi Arabia holds 18% of the world's petroleum reserves. Over 50% of the country's GDP is generated by the oil and gas sector. The country exported USD 231.48 billion of revenue in 2017, with USD 159.74 trillion coming from the petroleum sector. For the country to be able to sustain its oil and gas sector, it needs different types of equipment and machinery. This will lead to an increase in demand for forged parts in this equipment and machinery over the forecast period.

Saudi Arabia's 2018 forging demand was dominated by pump and ball valve applications segments. They accounted for 27.1% and 20%, respectively. Pumps are an integral part of oil drilling rigs because they transfer fluids between places.

Pumps such as positive displacement, centrifugal and diaphragm are in high demand within the oil and natural gas sector. Due to the increasing exploration and production activities within the oil and natural gas sector, the demand for forged parts in pumps is expected to rise over the forecast period.

Process Insights

In 2018, the GCC metal forging market saw an increase in volume by more than 51.0%. Open forging is another name for this process. The billet is placed between the "hammer" and "stamp” dies. This process involves a series continuous hammering or stamping movements to alter the material until it reaches the desired dimensions.

Open die forging metal products often requires machining using CNC or other advanced machines in order to reach the desired dimensions. Open die forging can also produce custom shapes. Open die forging is used in the production of primary products in the GCC region, including wellhead equipment, turbines and electric motors, as well as pumps, blowout stoppers, gas compressors and ball valves.

Closed die processes are expected to grow at a CAGR of 2.0% between 2019 and 2025 in terms of revenue. This process uses high pressure to press the metal piece into an enclosed die impression with required shapes. A medium-frequency induction heating furnace heats the metal to press it into the enclosed dies. Precision machined dies are required for this process. Because of its high precision throughout the forging process, forged parts require very little to no machining.

Application Insights

Pumps was the largest segment in 2018 with a revenue share greater than 26.0%. Pumps are used extensively in the oil and gas and chemical industries to transfer fluids. The main types of pumps used in the oil-and-gas industry are: gravity, velocity and steam. Because they provide consistent flow regardless of pressure, positive displacement pumps are the most common of all the pumps.

According to projections, the GCC's booming oil and gas activity will benefit wellhead equipment applications. Stable investments by the regional government oil and natural gas companies have helped to keep the outlook for Middle East oil and gas production positive. Forged wellhead equipment will be more lucrative if there is a significant increase in drilling activity in the region.

Ball valves can be used in a wide range of downstream and upstream applications in the oil and gas, chemical, process and energy industries. Ball valves can be used to regulate the flow of substances between different openings. They can be used to control the flow and pressure of liquids, corrosive fluids and slurries. They are used primarily in the oil and gas industry, but they also have applications in the manufacturing and chemical storage sectors.

Regional Insights

Saudi Arabia was the dominant market player and held more than 45% of 2018's revenue share. The growing use of forged parts in construction, oil and gas, and automotive is driving the regional market. Market growth will be driven by factors such as the growing construction and automotive industry aftermarkets and the easy availability of raw materials (aluminum, steel).

The GCC is the global leader in crude oil production. Many major economies of the region are dependent on the oil industry. Forged components are used to build rotary drilling equipment and equipment, as well as field production and drilling rigs. The market is expected to grow because of the high demand for these components in machinery for exploration and production activities.

Due to diversification programs by the governments of countries from the Middle East and Africa, major countries in the region will experience high economic growth over the next few years. This program will provide lucrative opportunities for market vendors by increasing regional production and decreasing import dependence.

Market Share Insights & Key Companies

The market is dominated by a few players, compared to the rest of Asia, North America, Europe, and Europe. Imports of forged parts are crucial for the end-use industries. This opens up new markets for new players. GCC countries are expected to establish new production facilities in the long-term, as a result of the growth of end-use industries.

The GCC metal forging market is dominated by the following players:

  • SPSV

  • Precision Forging Factory

  • Steel Forgings Gulf

  • ALKAFAA

  • FTV Proclad, U.A.E. L.L.C.

  • Doosan Heavy Industries & Construction

  • MFc Group

  • El Nasr Company

Up Market Research published a new report titled “GCC Metal Forging Market research report which is segmented by Process (Open Die, Closed Die), by Application (Wellhead Equipment, Turbine, Ball Valve), By Players/Companies Doosan Heavy Industries & Construction, El Nasr Company, Precision Forging Factory, ALKAFAA, MFc Group, FTV Proclad (UAE) LLC, SPSV, Steel Forgings Gulf”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleGCC Metal Forging Market Research Report
By ProcessOpen Die, Closed Die
By ApplicationWellhead Equipment, Turbine, Ball Valve
By CompaniesDoosan Heavy Industries & Construction, El Nasr Company, Precision Forging Factory, ALKAFAA, MFc Group, FTV Proclad (UAE) LLC, SPSV, Steel Forgings Gulf
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages216
Number of Tables & Figures152
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global GCC Metal Forging Industry Outlook

Global GCC Metal Forging Market Report Segments:

The market is segmented by Process (Open Die, Closed Die), by Application (Wellhead Equipment, Turbine, Ball Valve).

GCC Metal Forging Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the GCC Metal Forging Market

Overview of the regional outlook of the GCC Metal Forging Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


GCC Metal Forging Market Overview

Highlights of The GCC Metal Forging Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of GCC Metal Forging Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Process:

                1. Open Die

                2. Closed Die

        7. By Application:

                1. Wellhead Equipment

                2. Turbine

                3. Ball Valve

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the GCC Metal Forging Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

GCC Metal Forging Market Trends

Reasons to Purchase the GCC Metal Forging Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 GCC Metal Forging Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 GCC Metal Forging Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 GCC Metal Forging Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the GCC Metal Forging Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global GCC Metal Forging Market Size & Forecast, 2018-2028 
      4.5.1 GCC Metal Forging Market Size and Y-o-Y Growth 
      4.5.2 GCC Metal Forging Market Absolute $ Opportunity 


Chapter 5 Global GCC Metal Forging Market Analysis and Forecast by Process
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Process
      5.1.2 Basis Point Share (BPS) Analysis by Process
      5.1.3 Absolute $ Opportunity Assessment by Process
   5.2 GCC Metal Forging Market Size Forecast by Process
      5.2.1 Open Die
      5.2.2 Closed Die
   5.3 Market Attractiveness Analysis by Process

Chapter 6 Global GCC Metal Forging Market Analysis and Forecast by Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Application
      6.1.2 Basis Point Share (BPS) Analysis by Application
      6.1.3 Absolute $ Opportunity Assessment by Application
   6.2 GCC Metal Forging Market Size Forecast by Application
      6.2.1 Wellhead Equipment
      6.2.2 Turbine
      6.2.3 Ball Valve
   6.3 Market Attractiveness Analysis by Application

Chapter 7 Global GCC Metal Forging Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 GCC Metal Forging Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America GCC Metal Forging Analysis and Forecast
   9.1 Introduction
   9.2 North America GCC Metal Forging Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America GCC Metal Forging Market Size Forecast by Process
      9.6.1 Open Die
      9.6.2 Closed Die
   9.7 Basis Point Share (BPS) Analysis by Process 
   9.8 Absolute $ Opportunity Assessment by Process 
   9.9 Market Attractiveness Analysis by Process
   9.10 North America GCC Metal Forging Market Size Forecast by Application
      9.10.1 Wellhead Equipment
      9.10.2 Turbine
      9.10.3 Ball Valve
   9.11 Basis Point Share (BPS) Analysis by Application 
   9.12 Absolute $ Opportunity Assessment by Application 
   9.13 Market Attractiveness Analysis by Application

Chapter 10 Europe GCC Metal Forging Analysis and Forecast
   10.1 Introduction
   10.2 Europe GCC Metal Forging Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe GCC Metal Forging Market Size Forecast by Process
      10.6.1 Open Die
      10.6.2 Closed Die
   10.7 Basis Point Share (BPS) Analysis by Process 
   10.8 Absolute $ Opportunity Assessment by Process 
   10.9 Market Attractiveness Analysis by Process
   10.10 Europe GCC Metal Forging Market Size Forecast by Application
      10.10.1 Wellhead Equipment
      10.10.2 Turbine
      10.10.3 Ball Valve
   10.11 Basis Point Share (BPS) Analysis by Application 
   10.12 Absolute $ Opportunity Assessment by Application 
   10.13 Market Attractiveness Analysis by Application

Chapter 11 Asia Pacific GCC Metal Forging Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific GCC Metal Forging Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific GCC Metal Forging Market Size Forecast by Process
      11.6.1 Open Die
      11.6.2 Closed Die
   11.7 Basis Point Share (BPS) Analysis by Process 
   11.8 Absolute $ Opportunity Assessment by Process 
   11.9 Market Attractiveness Analysis by Process
   11.10 Asia Pacific GCC Metal Forging Market Size Forecast by Application
      11.10.1 Wellhead Equipment
      11.10.2 Turbine
      11.10.3 Ball Valve
   11.11 Basis Point Share (BPS) Analysis by Application 
   11.12 Absolute $ Opportunity Assessment by Application 
   11.13 Market Attractiveness Analysis by Application

Chapter 12 Latin America GCC Metal Forging Analysis and Forecast
   12.1 Introduction
   12.2 Latin America GCC Metal Forging Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America GCC Metal Forging Market Size Forecast by Process
      12.6.1 Open Die
      12.6.2 Closed Die
   12.7 Basis Point Share (BPS) Analysis by Process 
   12.8 Absolute $ Opportunity Assessment by Process 
   12.9 Market Attractiveness Analysis by Process
   12.10 Latin America GCC Metal Forging Market Size Forecast by Application
      12.10.1 Wellhead Equipment
      12.10.2 Turbine
      12.10.3 Ball Valve
   12.11 Basis Point Share (BPS) Analysis by Application 
   12.12 Absolute $ Opportunity Assessment by Application 
   12.13 Market Attractiveness Analysis by Application

Chapter 13 Middle East & Africa (MEA) GCC Metal Forging Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) GCC Metal Forging Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) GCC Metal Forging Market Size Forecast by Process
      13.6.1 Open Die
      13.6.2 Closed Die
   13.7 Basis Point Share (BPS) Analysis by Process 
   13.8 Absolute $ Opportunity Assessment by Process 
   13.9 Market Attractiveness Analysis by Process
   13.10 Middle East & Africa (MEA) GCC Metal Forging Market Size Forecast by Application
      13.10.1 Wellhead Equipment
      13.10.2 Turbine
      13.10.3 Ball Valve
   13.11 Basis Point Share (BPS) Analysis by Application 
   13.12 Absolute $ Opportunity Assessment by Application 
   13.13 Market Attractiveness Analysis by Application

Chapter 14 Competition Landscape 
   14.1 GCC Metal Forging Market: Competitive Dashboard
   14.2 Global GCC Metal Forging Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Doosan Heavy Industries & Construction
      14.3.2 El Nasr Company
      14.3.3 Precision Forging Factory
      14.3.4 ALKAFAA
      14.3.5 MFc Group
      14.3.6 FTV Proclad (UAE) LLC
      14.3.7 SPSV
      14.3.8 Steel Forgings Gulf
Segments Covered in the Report
The global GCC Metal Forging market has been segmented based on

By Process
  • Open Die
  • Closed Die
By Application
  • Wellhead Equipment
  • Turbine
  • Ball Valve
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Doosan Heavy Industries & Construction
  • El Nasr Company
  • Precision Forging Factory
  • ALKAFAA
  • MFc Group
  • FTV Proclad (UAE) LLC
  • SPSV
  • Steel Forgings Gulf

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