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Metal Forging Global Market 2025: Deep-dive into Market Size Data, Growth Drivers and Leading Trends
Metal Forging Market Size
What Is The Projected Market Size Of The Global Metal Forging Global Market Report 2025 And Its Growth Rate?
The global metal forging market promises robust growth:
- The market size has grown significantly in recent years from $101.04 billion in 2024 to a projected $108.78 billion in 2025.
- This represents a compound annual growth rate (CAGR) of 7.7%.
- Key drivers behind the growth include the expansion of the automotive industry, growth of the aerospace sector, and globalization of supply chains.
- Forecast for the period up to 2029 predicts a market size of $150.83 billion at a CAGR of 8.5%, buoyed by factors such as the rise in electric vehicle production and global efforts for carbon neutrality.
What Is Driving The Growth In The Metal Forging Global Market Report 2025?
The growth of the construction industry is a key catalyst fuelling the progress of the metal forging market. The construction industry relies extensively on forged metal products for strong, durable structures that can not only withstand the elements but also meet strict safety standards. Confirming this trend, a report published by The Office for National Statistics revealed that the total new construction work output rose by a whopping 15.8% in 2022, reaching a record-breaking value of £132,989 million ($172401 million).
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Who Are the Key Players Driving Metal Forging Global Market Report 2025 Growth?
Leading companies 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.
What Are The Key Trends In The Metal Forging Global Market Report 2025?
Key trends shaping the metal forging market include:
- Adoption of closed-die forging technology
- Integration of industry 4.0 technologies
- Sustainable forging practices
- Collaborations for research and development
- Customization for defense and defense aerospace.
What Are The Segments Of The Global Metal Forging Global Market Report 2025?
The metal forging market is segmented as follows:
1) By Type: Closed-Die Forging, Open-Die Forging, Ring Rolling
2) By Raw Material: Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium
3) By End-User: Automotive, Defense And Aerospace, Shipbuilding, Power Industry, Oil And Gas
Which Region Leads The Metal Forging Global Market Report 2025?
Asia-Pacific emerged as the largest region in the metal forging market in 2024, leading other regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Metal Forging Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Metal Forging Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Metal Forging Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Metal Forging Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Metal Forging Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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