What role do Chinese forging factories play in the market? Please provide data and examples to illustrate and write an article about it.
Chinese forging factories play an important role in the market. With the rise of the Chinese economy and the expansion of the domestic market, China’s forging industry has become one of the largest forging producing countries in the world. This article will explore the role of Chinese forging factories in the market and provide relevant data and examples.
Firstly, there is market size. According to a report released by the China Forging Material Industry Association, in 2019, the total output value of China’s forging industry was about 1.6 trillion yuan (about 244.4 billion US dollars), accounting for more than 62% of the world’s forging output, surpassing many developed countries such as the United States, Germany, and Japan. In the field of steel forgings, China’s market share has exceeded 70% of the world’s share.
Secondly, there is a price advantage. China’s forged products are relatively low in price, mainly due to the lower labor costs and raw material prices in China, as well as the policy support of the Chinese government. These factors have made Chinese forging products more competitive in the international market. For example, in 2017, China’s overseas export of forgings reached 193,000 tons, accounting for more than 42% of the world’s total overseas export of forgings.
In addition, Chinese forging factories have made progress in technology and processes. In recent years, Chinese forging factories have gradually introduced and mastered advanced forging technology and equipment, such as electronic sealing forging, continuous casting and forging, etc., and these technologies have found wide application both domestically and abroad. At the same time, Chinese forging factories have also begun to venture into the high-end product field, such as high-speed trains, nuclear power plants, aviation and aerospace, which require higher R&D and manufacturing standards and rely on higher degree of independent innovation and technological breakthrough.
However, Chinese forging factories still face some problems in some areas. For example, the industrial structure and product quality still need to be further improved and upgraded to meet the demand for high-quality products in the market.
In conclusion, in the global forging manufacturing industry, Chinese forging factories play an increasingly important role. With the continuous growth of the Chinese economy, Chinese forging factories will continue to win more market share and international recognition with their scale and competitiveness.
