The market for large forgings mainly involves the power, metallurgy, shipbuilding, petrochemical, heavy equipment and special equipment industries. Judging from the current situation, the market for the large forgings industry in China still exists, and there will be growth in some areas.
At present, in addition to the competition among domestic enterprises, large forging manufacturers have been severely hit by overseas large forging companies. Although the development of power and other industries has entered a new normal, we still have many large forgings that need to be imported, especially some "special and high-grade" parts are mainly imported. There are many reasons for imports, but poor quality stability and delays in delivery are the biggest issues. Therefore, the major struggle goals and market concepts of the large forging industry in the future are "products and market development led by product quality stability, blocking imports is to participate in the competition in the world market." It also needs to be pointed out here that the end user's distrust of China's large forging companies is still at a serious level.
Of course, compared with foreign companies, Chinese large forging companies also have high or unstable energy prices, rising labor costs, severe irregularities in personnel flow, and high tax pressures.