The high demand from the automotive and aerospace industries is driving the sluggish expansion of the worldwide Forging Market. The aerospace industry has expanded as a result of the rapid expansion in air passenger traffic, which is boosting the production of forged aerospace components. Additionally, the growing focus on wind energy power generation by various governments has greatly boosted the amount of money invested in wind energy projects. As a result, there is now more need for forged wind energy parts. However, the forging market is being limited to some extent by exorbitant costs and the availability of inexpensive alternatives. Additionally, forged automobile parts require little to no machining, which reduces the cost and time for car producers. Due to rising investments, the wind power segment is predicted to experience the greatest CAGR.
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