India Metal Forging Market 2021 Global Trends, Key Company Profiles, Share, Growth, Analysis, Opportunities and Forecast The India metal forging market size was valued at USD 3.86 billion in 2021. The market is expected to grow from USD 4.32 billion in 2022 to USD 8.80 billion by 2029, exhibiting a CAGR of 10.69% during the forecast period. Rising applications in numerous industries and rising automation in manufacturing industries are likely to foster the India metal forging market share. Fortune Business Insights™ provides this information in its report titled “India Metal Forging Market, 2022-2029.” COVID-19 Impact: Reduced Automotive Adoption Impeded Industry Progress This market was negatively affected during the COVID-19 pandemic due to declining automotive sales. The rapid spike in COVID-19 infections led to restrictions on manufacturing and transportation, thereby restricting sales. Further, increasing COVID-19 infections led to the closure of manufacturing, thereby disrupting supply chains. However, lockdown relaxations and regulations enabled manufacturers to elevate their production and bolster manufacturing. This factor propelled the growth of the metal forging industry after the pandemic. Drivers and Restraints Increasing Forging Product Exports May Foster Industry Progress Metal forging is a process developed to incorporate innovative techniques. It offers an extensive range of forging component products with numerous materials, sizes, finishes, and shapes. Increasing forging product exports may facilitate industry growth. Further, rising domestic manufacturing capacities and rising competition in the industry may boost the adoption of forging techniques. Moreover, rising government initiatives such as ‘Make in India’ are likely to bolster the demand for forging techniques. Also, rising foreign direct investments may facilitate the manufacturing sector. These factors are likely to elevate the India metal forging market growth. However, increasing environmental concerns and focus on electrification may hinder the industry’s growth. Competitive Landscape Major Players Enter into Partnerships to Fasten Growth Prospects The prominent companies operating in the market engage in partnerships to elevate their growth prospects. For example, Mahindra and Mahindra engaged in a partnership with Volkswagen in May 2022. This strategy was aimed to equip its electric cars with battery system components and cells. This partnership may enable the company to boost its growth prospects. Furthermore, major companies devise product launches, mergers, acquisitions, automated production techniques, and expansions to elevate industry growth. Browse Summary: https://www.fortunebusinessinsights.com/india-metal-forging-market-106788