Metal forging market report, metal forging industry analysis, metal forging market insights, metal forging market emerging growth, metal forging market forecast, metal forging market segments
How is the Metal Forging Market Expected to Grow in Size and Due to What Factors?
The Metal Forging Market size has registered strong significant growth in recent years, witnessing an increase from $101.04 billion in 2024 to $108.78 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.7%. The growth during this period can primarily be attributed to the expansion of the automotive industry, aerospace sector growth, advancements in oil and gas exploration, defense and military applications, globalization of supply chains, and development of railway and transportation systems.
In the future, the Metal Forging Market is expected to continue this trend of strong growth. By 2029, the market size is projected to reach $150.83 billion, growing at a compound annual growth rate (CAGR) of 8.5%. This expected growth during the forecast period will be driven by an increased adoption of lightweight materials, rising electric vehicle production, infrastructure investments in emerging markets, expansion of wind and solar energy sectors, and global efforts for carbon neutrality. Major market trends include the adoption of closed-die forging technology, integration of Industry 4.0 technologies, sustainable forging practices, and increased collaborations for research and R&D.
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Why is Metal Forging Market Growth Expected to Surge?
The rise in the construction industry is playing a key role in driving the growth of the metal forging market. Construction activities – building, modifying, repairing, remodeling, enhancing, or wrecking any public structure – rely heavily on forged metal products such as steel beams, columns, and other structural components essential for building strong and durable structures. of £132,989 million ($172401 million) in 2022, a rise by 15.8% compared to previous years, indicating an increased demand for metal forging in the construction industry.
What Are the Major Segments of the Global Metal Forging Market?
1) By Type: Closed-Die Forging, Open-Die Forging, Ring Rolling
2) By Raw Material: Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Other Raw Materials
3) By End-User: Automotive, Defense And Aerospace, Shipbuilding, Power Industry, Oil And Gas, Other End User
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Who Are the Major Players in the Metal Forging Market?
Major companies operating in the metal forging market include Allegheny Technologies Incorporated, Bharat Forge Ltd., Ellwood Group Inc., Thyssenkrupp AG, Bruck GmbH, Nippon Steel Corp., Precision Castparts Corp., Larsen & Toubro Ltd., Japan Casting and Forging Corp., China First Heavy Industries Co. Ltd., Howmet Aerospace Inc., Schuler AG, Jiangyin Hengrun Heavy Industries Co. Ltd., ATI Ladish LLC, Kobelco Construction Machinery Co. Ltd., Scot Forge Company, Ferralloy Inc., Patriot Forge Co., Doncasters Inc., All Metals & Forge Group, Trenton Forging Company, Fountaintown Forge Inc., Commercial Forged Products, Component Sourcing International, Custom Alloy Corporation, Precision Metal Products Pvt. Ltd., SIFCO Industries Inc., Canton Drop Forge Inc., Shultz Steel Co., Consolidated Industries Inc., Pacific Forge Incorporated, Otto Fuchs KG.
What Trends Are Shaping The Metal Forging Market Landscape?
The increasing integration of automation in forging systems has emerged as a key trend in the metal forging market. Major market players are focusing on creating innovative products through automated processing equipment such as induction forging, computer-controlled forging equipment, automatic control, and remote control of free forging hammers.
Which Region Dominates the Global Metal Forging Market?
Asia-Pacific emerged as the largest region in the metal forging market in 2024. The regions covered in the metal forging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Metal Forging Market Report 2025 Offer?
The Metal Forging Market research report offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Metal forging involves the use of compressive forces in shaping and forming metals. Hammering, pushing, or rolling are used to apply the forces to create various metal parts.
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