+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Metal Forging Market Report and Forecast 2024-2032

  • PDF Icon

    Report

  • 183 Pages
  • November 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921365
According to the report, the global metal forging market grew substantially in 2023. Aided by the escalating demand in automotive, aerospace, and construction sectors, coupled with the undeniable strengths of forged metals in terms of durability and resilience, the market is projected to grow at a CAGR of 6.5% between 2024 and 2032.

Metal forging, a centuries-old practice, involves the shaping and hardening of metals through localised compressive forces, resulting in materials that exhibit superior strength, improved grain structure, and enhanced reliability compared to cast or machined parts. Today, modern advancements have transformed forging into a highly technical and sophisticated process, capable of producing complex shapes and intricate designs, catering to a myriad of industrial applications.

A significant propellant for the global metal forging market growth remains the robust demand from the automotive industry. Vehicle manufacturing, with its unrelenting emphasis on safety, reliability, and performance, often leans on metal forging for critical components like gears, axles, shafts, and bearings. The undeniable strength and durability of forged components, capable of withstanding stress and offering extended lifespans, make them an obvious choice for the automotive sector.

Aerospace, another industry where there's no room for compromise on component integrity, heavily relies on metal forging. Aircraft parts, demanding the highest levels of precision and resilience, are frequently manufactured through forging, ensuring they can endure the extreme conditions they are subjected to.

Furthermore, the construction sector, with its need for robust infrastructure and durable machinery, contributes significantly to the surging metal forging market demand. Forged steel finds applications in structures, tools, and heavy machinery, ensuring longevity and safety.

Technological advancements in the realm of metal forging, such as computer-controlled processes and precision forging, are further refining outcomes, ensuring higher precision, reduced wastage, and enhanced efficiency. These advancements, while catering to the ever-evolving demands of modern industries, also serve to bolster the metal forging market growth.

Market Segmentation

The market can be divided based on metal, application, and region.

Market Breakup by Metal

  • Carbon Steel
  • Alloy Steel
  • Aluminium
  • Magnesium
  • Stainless Steel
  • Titanium
  • Others

Market Breakup by Application

  • Automotive
  • Aerospace
  • Oil and Gas
  • Construction
  • Agriculture
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global metal forging market. Some of the major players explored in the report are as follows:
  • Bharat Forge Limited
  • China First Heavy Machinery Co., Ltd
  • Nippon Steel Corporation
  • Allegheny Technologies (ATI)
  • Bruck GmbH
  • Jiangyin Hengrun Heavy Industries Co., Ltd.
  • Arconic Corporation
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Metal Forging Market Analysis
8.1 Key Industry Highlights
8.2 Global Metal Forging Historical Market (2018-2023)
8.3 Global Metal Forging Market Forecast (2024-2032)
8.4 Global Metal Forging Market by Metal
8.4.1 Carbon Steel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Alloy Steel
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Aluminum
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Magnesium
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Stainless Steel
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Titanium
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Metal Forging Market by Application
8.5.1 Automotive
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Aerospace
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Oil and Gas
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Construction
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Agriculture
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Metal Forging Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Metal Forging Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Metal Forging Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Metal Forging Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Metal Forging Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Metal Forging Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Bharat Forge Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 China First Heavy Machinery Co., Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Nippon Steel Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Allegheny Technologies (ATI)
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Bruck GmbH
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Jiangyin Hengrun Heavy Industries Co., Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Arconic Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Metal Forging Market: Key Industry Highlights, 2018 and 2032
2. Global Metal Forging Historical Market: Breakup by Metal (USD Billion), 2018-2023
3. Global Metal Forging Market Forecast: Breakup by Metal (USD Billion), 2024-2032
4. Global Metal Forging Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Metal Forging Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Metal Forging Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Metal Forging Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Metal Forging Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Metal Forging Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Metal Forging Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Metal Forging Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Metal Forging Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Metal Forging Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Metal Forging Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Metal Forging Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Metal Forging Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Metal Forging Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Metal Forging Market Structure

Companies Mentioned

  • Bharat Forge Limited
  • China First Heavy Machinery Co. Ltd
  • Nippon Steel Corporation
  • Allegheny Technologies (ATI)
  • Bruck GmbH
  • Jiangyin Hengrun Heavy Industries Co. Ltd.
  • Arconic Corporation

Methodology

Loading
LOADING...

Table Information