Brief information about Indian forging company

The engineering industry, during which a selected metal is pressed, squeezed or pounded under an enormous amount of pressure into high strength parts, is understood as forgings. It plays a pivotal role within the economy of India. It caters to the core sectors of automotive parts and tools while the applications are varying from the segments of steel, coal, material handling systems, highway equipment’s, cement, chemical processes, oil exploration and ship building to power, defence, railways and farm machinery among others. it's one among the main contributors to the manufacturing sector.

In India, the domestic automotive sector and outsourcing are the prime drivers of growth for this industry. A forged machined parts manufacturer has got to come up with consistent increase in production and exports. The destinies of the forging industry are on the increase thanks to the booming auto component industry with forging exports expected to cross the magic figure of USD 7 billion by 2017. This constitutes nearly 15% of the auto component exports from India. Besides this, there's ample scope for forgings uptake in many other spheres that might open up business opportunities for this industry.

As per these trends, the annual growth in demand for top forging companies in India is predicted to be within the range of 16%, and thus, the longer term seems rosy for the cast machined parts suppliers in terms of the expected surge in both global and domestic markets. Increasing globalisation has led to a pointy rise in investments within the sector. This has led to the industry to be capital-intensive in situ of labour-intensive.

To extend their markets globally, even the small-scale units have increased their capital investments. The small-scale units have upgraded their facilities in terms of technology and quality, and variety of them are now OEMs within the automobile sector.

According to the Association of Indian Forging Industry (AIFI), with an installed capacity of around 37.7 lakh MT, this industry in India features a capability to forge a good sort of raw stuffs like carbon, steel , chrome steel , super alloy, titanium, aluminium, etc. counting on the size of operations, the industry are often categorised as very large, large, medium, small and really small.

Based on their installed capacity, very large are those having over 75,000 MT. Large are within the range of 30,000 to 75,000 MT and medium are those with 12,500 to 30,000 MT. Small units are those with 5,000 to 12,500 MT while those with limited capacity up to 5,000 MT fall into the very small category. However, SMEs comprise of a serious chunk of the forging industries as evident from the very fact that they constitute 87% of the entire number of units. The medium-sized units are 8% while the very large and enormous units are mere 5%.

Since the industry is concentrated within the vicinity of its end-users and customer locations, the main forging clusters are found to be located within the different states of India.