Development tatus and rend nalysis of Chinas Forging Industry in 2023
According to the latest 2024-2030 China Forging Industry Market In-depth Research and Investment Planning Recommendations Report released by Huajing Industrial Research Institute, Chinas forging industry has experienced significant growth in the past few years and has taken a leading position in the global forging industry.
1. Development ackground
As a basic industry in the high-end equipment manufacturing industry, the forging industry is crucial to promoting the development of the national economy. As key basic components necessary for the equipment manufacturing industry, forged products serve the optimization and upgrading of my countrys manufacturing industry and are a subdivided area encouraged and supported by the state. The government and various ministries have introduced a number of policies and measures to encourage forging companies to carry out technological innovation and product upgrades, and have strengthened international cooperation and technical exchanges within the industry.
2. Industrial hain
The upstream of the forging industry mainly includessteel and alloy material suppliers, which provide the raw materials required for the forging industry, such as steel billets, alloy steel, stainless steel, high-temperature alloys, titanium alloys, etc. The downstream of forged products covers many important industries such as wind power, chemical industry, machinery, and shipbuilding. The demand for forging products in the wind power industry is particularly significant. The newly installed wind power capacity will reach 75.90GW in 2023, promoting the development of the forging industry.
3. Development tatus of orging ndustry
In 2022, Chinasforging output will reach 13.155 million tons, and free forging output will be 4.829 million tons, both maintaining a stable growth momentum. This is due to the rapid development of downstream application industries such as wind power, chemical industry, and aerospace. Especially in the context of the booming wind power industry, the market space for free forgings in my country, especially high-end large free forgings, is broader.
4. Competitive landscape of orging ndustry
Competition in Chinas forging industry is fierce, with a large number of companies, each with its own characteristics. For example, AVIC Heavy Machinery, as one of the leading companies in the industry, has an operating income of 10.577 billion yuan in 2023, demonstrating strong market competitiveness. AVIC Heavy Machinery not only occupies a dominant position in the domestic market, but also actively participates in international market competition, providing high-quality forged products to multiple industries.
5. Development Trend of Forging Industry
Leading the world in production scale and continuously improving forging capabilities: Chinas forging industry has developed intothe world’s largest forging producer and continues to make breakthroughs in the field of high-end equipment manufacturing. With the continuous investment in R&D by domestic forging enterprises, the continuous improvement of forging technology and forging capabilities, and the continuous improvement of the production level of major key products, my countrys forging industry is participating in international competition and showing strong international competitiveness.
High-end product forging capabilities need further breakthroughs: Although Chinas forging industry has made remarkable achievements, in some high-end application fields, such as the processing of special materials such ashigh-temperature alloys and titanium alloys, it is still necessary to increase R&D investment and improve technical levels. In recent years, with the countrys strong support for high-end equipment manufacturing and important basic parts industries, the domestic forging industry is gradually developing in the direction of specialization and innovation, and has begun to possess special materials such as high-temperature alloys, titanium alloys, and aluminum alloys. Forging production capacity, such as the application of forged aluminum alloy lightweight technology in the automotive field, and the wide application of titanium alloy inaerospace, military industry, petrochemicals, high-speed rail and other fields.
With the countrys continued support for high-end equipment manufacturing, it is expected that Chinas forging industry will further develop in the direction of specialization, refinement, and distinctiveness, providing more high-quality products and services for domestic and foreign markets.