Metal Forging Trends and Forecast
The future of the global metal forging market looks promising with opportunities in the transportation, aerospace, oil & gas, construction, agriculture, power generation, and marine markets. The global metal forging market is expected to reach an estimated $111.8 billion by 2030 with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are growing demand for metal forged parts from the aerospace industry, increased emphasis on lightweight and high-strength materials, and expanding number of flyers across the globe.Metal Forging by Segment
The study includes a forecast for the global metal forging by raw material, application, and region.Metal Forging Market by Raw Material [Shipment Analysis by Value from 2018 to 2030]:
- Carbon Steel
- Alloy Steel
- Aluminum
- Magnesium
- Stainless Steel
- Titanium
- Others
Metal Forging Market by Application [Shipment Analysis by Value from 2018 to 2030]:
- Transportation
- Aerospace
- Oil & Gas
- Construction
- Agriculture
- Power Generation
- Marine
- Others
Metal Forging Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Metal Forging Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies metal forging companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the metal forging companies profiled in this report include:- Aronic
- ATI
- Bharat Forge
- Bruck
- China First Heavy Machinery
- ELLWOOD
- Jiangyin Hengrun Heavy Industries
- Nippon Steel
- Precision Castparts
- Larsen & Toubro
Metal Forging Market Insights
The publisher forecasts that carbon steel will remain the largest segment over the forecast period due to its substantial usage in oilfield and automotive applications given to its affordability and widely availability.Within this market, automotive will remain the largest segment due to substantial use of metal forging in this sector given to its numerous benefits, such as dependability, strength, and durability.
APAC will remain the largest region over the forecast period due to increased expenditures for the construction of airports, railroad tracks, and bridges in the region.
Features of the Global Metal Forging Market
- Market Size Estimates: Metal forging market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Metal forging market size by raw material, application, and region in terms of value ($B).
- Regional Analysis: Metal forging market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different raw materials, applications, and regions for the metal forging market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the metal forging market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the metal forging market size?Answer: The global metal forging market is expected to reach an estimated $111.8 billion by 2030.
Q2. What is the growth forecast for metal forging market?
Answer: The global metal forging market is expected to grow with a CAGR of 7.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the metal forging market?
Answer: The major drivers for this market are growing demand for metal forged parts from the aerospace industry, increased emphasis on lightweight and high-strength materials, and expanding number of flyers across the globe.
Q4. What are the major segments for metal forging market?
Answer: The future of the metal forging market looks promising with opportunities in the transportation, aerospace, oil & gas, construction, agriculture, power generation, and marine markets.
Q5. Who are the key metal forging market companies?
Answer: Some of the key metal forging companies are as follows:
- Aronic
- ATI
- Bharat Forge
- Bruck
- China First Heavy Machinery
- ELLWOOD
- Jiangyin Hengrun Heavy Industries
- Nippon Steel
- Precision Castparts
- Larsen & Toubro
Answer: The publisher forecasts that carbon steel will remain the largest segment over the forecast period due to its substantial usage in oilfield and automotive applications given to its affordability and widely availability.
Q7. In metal forging market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to increased expenditures for the construction of airports, railroad tracks, and bridges in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the metal forging market by raw material (carbon steel, alloy steel, aluminum, magnesium, stainless steel, titanium, and others), application (transportation, aerospace, oil & gas, construction, agriculture, power generation, marine, others, and), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Metal Forging Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- Aronic
- ATI
- Bharat Forge
- Bruck
- China First Heavy Machinery
- ELLWOOD
- Jiangyin Hengrun Heavy Industries
- Nippon Steel
- Precision Castparts
- Larsen & Toubro
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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