In recent years, China's large casting and forging industry is in the best gold development period in history. The main large-scale casting and forging manufacturing enterprises completed the economic goals of the “Eleventh Five-Year Plan” for the heavy machinery industry in two years. The entire industry has basically maintained a growth rate of more than 30%, and the profit index has maintained a relatively high growth rate.
During this period, large-scale casting and forging production enterprises have also greatly increased the investment in new product development. The independent innovation capability of each enterprise has been greatly enhanced, and the proportion of new product output value to total output value has been continuously improved, which has greatly shortened the production of advanced large-scale castings and forgings. The gap between enterprises, some products have been close to and reach the foreign level. At the same time, the large-scale casting and forging enterprises have carried out a large number of technological transformation investments around the products that are urgently needed in China and cannot be independently produced and not fully self-produced. The equipment capacity of the whole industry has been greatly enhanced.
China's large casting and forging products are mainly used in power stations, ships, large machinery, metallurgy and petrochemical industries. Among these industries, the technical barriers for casting and forging for power station equipment are the highest, followed by marine and large machinery.