Forged and Stamped Goods Market Report 2025

This Forged and Stamped Goods market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The forged and stamped goods market size has grown strongly in recent years. It will grow from $317.16 billion in 2024 to $337.01 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to industrial growth, raw material prices, technological advancements, environmental regulations.

The forged and stamped goods market size is expected to see steady growth in the next few years. It will grow to $404.5 billion in 2029 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to infrastructure development, automotive industry, aerospace and defense, renewable energy. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.

The anticipated growth in the demand for aircraft manufacturing is being driven by the increasing need for both international and domestic air travel, coupled with rising government defense budgets. This demand is expected to positively impact the market for forged and stamped goods. As per estimates from TBRC, sales of aerospace machinery are projected to grow at an annual rate of 10.15% between 2018 and 2022, largely due to the tourism industry's expanding requirements. Additionally, many countries are augmenting their defense budgets to enhance their preparedness for international crises. This includes the acquisition of technologically advanced equipment such as ammunition, aircraft, and helicopters. For instance, in January 2023, the US President proposed a budget of $772 billion for the Department of Defense. The 2023 Future Years Defense Program (FYDP) further anticipates an increase to $784 billion in 2024, indicating a steady rise in defense budgets. This increase in both defense budgets and commercial aircraft production is expected to boost the demand for forged metal components in the forecast period, thereby driving growth in the overall forged and stamped goods market.

The anticipated growth in aircraft manufacturing, driven by the increasing demand for both international and domestic air travel, as well as rising government defense budgets, is expected to boost the demand for forged and stamped goods. Many countries are increasing their defense budgets to enhance their ability to respond to global crises, incorporating advanced technology across areas like ammunition, aircraft, and helicopters to prepare for emergencies. For example, in January 2023, the US President requested $772 billion for the Department of Defense, with the 2023 Future Years Defense Program (FYDP) projecting a 1.5% increase in the budget to $784 billion in 2024. The rise in defense budgets and the production of commercial aircraft will drive the demand for forged metal components during the forecast period, fueling the growth of the overall forged and stamped goods market.

The expanding construction industry is set to contribute to the growth of the forged and stamped goods market. The construction industry, encompassing the planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure, requires a variety of structural components like beams, columns, brackets, and fasteners. These components are often forged or stamped to meet the specific needs of construction projects. For instance, in February 2023, the Office for National Statistics, a UK-based government department, reported that annual construction output increased by 5.6% in 2022 compared to 2021, following a record rise of 12.8% in 2021. As a result, the growing construction industry is driving the expansion of the forged and stamped goods market.

Key players in the forged and stamped goods market are concentrating on developing advanced products, such as high-strength forged components, to meet the rising demand for durable and lightweight materials across various industries. High-strength forged products are made through the forging process, offering improved mechanical properties like increased tensile strength and resistance to deformation. For example, in June 2024, Hilton Metal Forging Ltd., an India-based iron and steel forging company, introduced wagon axles for railway wagons. These axles have an annual production capacity of 48,000 wheels, helping address the growing demand in the railway sector amid a supply shortage. Designed to meet rigorous quality standards, the wagon axles ensure durability and reliability for safe and efficient goods transportation. This product launch is part of Hilton's broader strategy to expand its presence in the domestic railway market, including plans to secure funding to boost production capabilities. By utilizing advanced forging techniques, the company improves the strength and performance of these axles, making them ideal for handling heavy railway loads.

Prominent companies within the forged and stamped goods market are actively engaged in the development of innovative solutions, including the creation of metal stamping simulation software, to cater to broader customer segments, expand their sales, and enhance overall revenue. Metal stamping simulation software represents a specialized computer program or tool employed within the manufacturing sector for simulating and analyzing the metal stamping or sheet metal component forming process. In a notable example from April 2022, the US-based software company Ansys introduced Ansys Forming, an all-encompassing forming simulation software specifically crafted to enable metal formers to digitally plan and validate each stage of the sheet metal forming process. A distinguishing feature of this product is its capability to simulate every facet of metal stamping via an end-to-end workflow, significantly reducing the number of components required during simulation and expediting solution times through the integration of intelligent adaptivity features, thus allowing customers to precisely fine-tune the mesh. Ansys Forming provides a comprehensive platform offering various presets for monitoring each stage, including feasibility, formability, and springback, all powered by the LS-Dyna solver and featuring an intuitive graphical user interface.

Forged and stamped goods are metal parts shaped through specialized manufacturing methods. Forging applies compressive forces to improve the strength and integrity of metal, while stamping uses dies to accurately cut and shape metal sheets. Both processes aim to meet specific design requirements while optimizing material use and production efficiency.

The primary categories of forged and stamped goods include iron and steel forged goods, nonferrous forged goods, custom roll-formed products, powder metallurgy components, as well as metal crown, closure, and various other metal stamped items. Iron and steel forged goods are created through the alloying of iron and carbon under high pressures. These products find applications in various industries, including automotive, construction, food and beverage packaging, machinery, and metal products, among others.

The forged and stamped market research report is one of a series of new reports that provides forged and stamped market statistics, including forged and stamped industry global market size, regional shares, competitors with a forged and stamped market share, detailed forged and stamped market segments, market trends and opportunities, and any further data you may need to thrive in the forged and stamped industry. This forged and stamped market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Major companies operating in the forged and stamped goods market include ArcelorMittal S.A., Berkshire Hathaway Inc., Thyssenkrupp AG, American Axle & Manufacturing Inc., Kobe Steel Ltd., Bharat Forge Limited, Illinois Tool Works Inc., Fine Sinter Co. Ltd., CITIC Heavy Industries Co.Ltd., Allegheny Technologies Incorporated, PCC Structurals Inc., Smith & Wesson Precision Components (SWPC), CAB Worldwide, Ferralloy Inc., McKees Rocks Forgings Inc., All Metals & Forge Group LLC, Source International, The Federal Group USA, Atlas Bronze, Ken Forging Inc., Cornell Forge Co., MES Inc., Precision Castparts, Ellwood Group, Scot Forge, Anchor Harvey, SIFCO Industries Inc., Queen City Forging Company, Walker Forge Tennessee LLC, Weldaloy Products Company, Sintavia LLC, Sintex A/S, Bourdon Forge Company, Moline Forge, Patriot Forge Co., GMP Metal Products, Peerless Industrial Group, Carpathian Industries LLC, Forge Resources Group.

The Asia-Pacific was the largest region in the forged and stamped goods market in 2024. Western Europe was the second-largest region in the forged and stamped goods market. The regions covered in the forged and stamped report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the forged and stamped goods market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The forged and stamped market consists of sales of carbon steel forged goods, aluminium forged goods, copper forged goods, and brass forged goods. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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