How large is the forged and stamped goods market, and what is its growth trajectory?
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.
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What are the key forces behind the forged and stamped goods market’s growth in recent years?
Expected growth in the demand for aircraft manufacturing supported by the growing demand for international and domestic air travel and rising government defence budgets are expected to drive the demand for forged and stamped goods. Many countries are increasing their defence budgets to improve their abilities to respond to international crises and are including technologically advanced equipment across categories such as ammunition, aircraft, and helicopters to be prepared for an emergency. For example, in January 2023, the US President requested $772 billion for the Department of Defence. The 2023 Future Years Defence Program (FYDP) projects that the DoD’s budget would rise by 1.5 percent to $784 billion in 2024. An increase in defence budgets and production numbers of commercial aircraft will drive the demand for forged metal components in the forecast period, driving the overall forged and stamped goods market.
What are the major segments of the forged and stamped goods market?
The forged and stamped goods market covered in this report is segmented –
1) By Type: Iron and Steel Forged Goods, Nonferrous Forged Goods, Custom Roll Formed Goods, Powder Metallurgy Parts, Metal Crown, Closure, and Other Metal Stamped Goods
2) By End User Industry: Automotive, Construction, Food and Beverage Packaging, Machinery, Metal Products, Other End User Industries
Subsegments:
1) By Iron And Steel Forged Goods: Carbon Steel Forgings, Alloy Steel Forgings, Stainless Steel Forgings, Tool Steel Forgings
2) By Nonferrous Forged Goods: Aluminum Forgings, Copper Forgings, Brass Forgings, Titanium Forgings, Nickel-Based Alloy Forgings
3) By Custom Roll Formed Goods: Structural Shapes (Channels, Angles), Rails And Beams, Custom Profiles (Unique Shapes For Specific Applications)
4) By Powder Metallurgy Parts: Iron-Based Powder Metallurgy Parts, Non-Ferrous Powder Metallurgy Parts, Stainless Steel Powder Metallurgy Parts
5) By Metal Crown: Aluminum Metal Crowns, Steel Metal Crowns, Plastic Coated Metal Crowns
6) By Closure: Metal Closures (Bottle Caps, Cans), Plastic Closures, Composite Closures
7) By Other Metal Stamped Goods: Automotive Metal Stamped Parts, Industrial Metal Stamped Parts, Electrical Metal Stamped Parts, Consumer Goods Metal Stamped Parts
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Which companies dominate the forged and stamped goods market?
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.
What major trends will shape the forged and stamped goods market during the forecast period?
Major companies operating in the forged and stamped goods market are focused on developing advanced products, such as high-strength forged products, to meet the increasing demand for durable and lightweight materials in various industries. High-strength forged products are components made through the forging process, showcasing enhanced mechanical properties like elevated tensile strength and deformation resistance. For instance, in June 2024, Hilton Metal Forging Ltd., an India-based iron and steel forging company, launched wagon axles for railway wagons. This product has an annual production capacity of 48,000 wheels, enabling it to address the growing demand in the railway sector amidst a current supply shortfall. The wagon axles are engineered to adhere to stringent quality standards, ensuring their durability and reliability for safe and efficient goods transportation. This product launch aligns with Hilton’s larger strategy to strengthen its presence in the domestic railway market, including plans to secure funding for expanding production capabilities. By employing advanced forging techniques, the company enhances the strength and performance of these axles, making them well-suited for heavy railway loads.
What are the key regional dynamics of the forged and stamped goods market, and which region leads in market share?
Asia-Pacific was the largest region in the forged and stamped goods market in 2023. 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.
What Does The Forged And Stamped Goods Market Report 2025 Offer?
The forged and stamped goods market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Forged and stamped goods are metal components shaped through specific manufacturing processes. Forging uses compressive forces to enhance metal strength and integrity while stamping precisely cuts and forms metal sheets using dies. Their main goal is to meet particular design specifications while maximizing material efficiency and production effectiveness.
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