Rolled Ring Market Size By Type (Stainless Rolled Rings, Alloy Rolled Rings, and Carbon Rolled Rings), By Application (Automotive, Aerospace, Agriculture, General Industrial, and Others), Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Rolled Ring market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Rolled Ring market is present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as by type, and by application. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the Rolled Ring market are Precision Castparts Corp, Arconic, Nippon Steel & Sumitomo Metal, KOBELCO, Thyssenkrupp, Aichi Steel, Eramet Group, American Axle & Manufacturing Holdings, Ferralloy, McInnes Rolled Ringsand among others. To achieve a substantial market share in the worldwide Rolled Ring market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Donut- or toroidally-shaped metal components known as rolled rings can be used in a variety of applications. They can be as little as a washer or as large as 110 inches in diameter, and they can be made out of a wide variety of materials, including carbon, stainless steel, alloy steels, Haynes, Incoloy, Inconel, super alloys, and many more. Rolled rings are the product of a manufacturing technique known as ring rolling, which involves shaping a circular preform of metal into the required shape, size, and weight until the desired result is attained. Rolling ring are utilized for a wide variety of purposes as a result of their many advantageous properties, which include their high level of strength, cost-effectiveness, resistance to heat, and adaptability. For instance, rolled rings are frequently utilized for applications such as bearings, clutches, couplings, drives, ring gaskets, high-pressure pipelines, flanges, gears, glass-lined reactors, machines, robotics, and valves, to name just a few of its many possible applications. Forgings of rolled rings are an excellent type of metal component. Some of the Rolled Ring uses are; Automobile Manufacturing Industry- In the automotive sector, almost every key structural or rising component in trucks and cars are made of rolled rings., Petroleum and Natural Gas Business- Rolled rings are well known for their application in the oil and gas industry, where they are used as pipe connections as well as a range of flanges and pressure vessel ring connectors for pipelines.
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Scope of Rolled Ring Market Report
Base Year
By Type, By Application and Region
North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Precision Castparts Corp, Arconic, Nippon Steel & Sumitomo Metal, KOBELCO, Thyssenkrupp, Aichi Steel, Eramet Group, American Axle & Manufacturing Holdings, Ferralloy, McInnes Rolled Ringsand among others.
The alloy rolled rings segment is expected to be the fastest-growing segment in 2021.
The type segment includes Stainless Rolled Rings, Alloy Rolled Rings, and Carbon Rolled Rings. The alloy rolled rings segment is expected to witness the highest CAGR during the forecast period. Titanium, aluminium, and stainless steel are some of the metals that are utilised in the manufacturing process of alloy rolled rings. These different metals are alloyed together so that the resulting metal will have a special quality that cannot be achieved by just combining the individual metals. For instance, titanium possesses a very high corrosion resistance but very poor ductility, whereas aluminium possesses a high corrosion resistance but extremely low ductility.
The aerospace segment is expected to be the fastest-growing segment in 2021.
The application segment includes Automotive, Aerospace, General Industries, Agriculture and Others. The aerospace segment is expected to witness the highest growth rate during the forecast period. Components used in aerospace vehicles are frequently subjected to high temperatures, which, if they are not made properly, can lead to their failure or a decline in performance. This has resulted in an increase in the demand for rolled rings from a variety of aerospace applications, such as engine nacelles/pylons, turbine blades and vanes, space vehicles (fuselage), aircraft fuselages (wing root), and airframe structure (floor beams), as well as other metal fatigue critical parts such as fasteners and rivets, amongst others.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Rolled Ring include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
The Asia-Pacific region held a dominant share of the worldwide rolled ring market in 2021, and it is anticipated that this region would maintain its preeminence during the forecast period. The expansion of this region can be due to the increased demand from end-use sectors such as the automotive industry, the aerospace industry, the construction industry, and others. In addition, over the next eight years, significant industrialisation in India and China, together with rising levels of foreign investment in both countries, are predicted to be the primary drivers of regional growth. The Asia-Pacific region has the potential to become a lucrative source for rolled rings due to the high production volumes of various types of steel products along with the growing exports from key countries such as Japan and South Korea. This will likely cause the region to emerge as a lucrative source for rolled rings.
Germany's Rolled Ring market size was valued at USD 9.93 million in 2021 and is expected to reach USD 14.55 million by 2029, at a CAGR of 4.9% from 2022 to 2029. Germany has one of the leading Rolled Ring industries in Europe. In addition, Germany's automotive sector is the country's most innovative industry sector, which boosts the demand for metal products, including Rolled Ring.
China Rolled Ring market size was valued at USD 22.88 million in 2021 and is expected to reach USD 37.58 million by 2029, at a CAGR of 6.4% from 2022 to 2029. China's growing population and improved standard of living have boosted the demand for Rolled Ring. China's rising per capita disposable income also contributes to rising per capita spending on metal parts manufacturing.
India's Rolled Ring market size was valued at USD 21.09 million in 2021 and is expected to reach USD 33.36 million by 2029, at a CAGR of 5.9% from 2022 to 2029. India is one of the strongest growing economies in Asia. The expansion of this region can be due to the increased demand from end-use sectors such as the automotive industry, the aerospace industry, the construction industry, and others. Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven owing to the rise in demand for ring rollers.
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