Press release
Global Isothermal Forging Market to Reach $12.47 Billion by 2029, Growing at 7% CAGR
Isothermal Forging Market Trends
The surge in the demand for automobiles is anticipated to fuel the expansion of the isothermal forging market in the future. Automobiles are typically land-based, self-driving passenger or commercial vehicles equipped with a combustion engine and usually have a minimum of four wheels. Isothermal forging plays a critical role in the automotive industry for creating intricate parts that require high strength, toughness, and accuracy, hence the growth in automobile demand will stimulate the expansion of the isothermal forging market. For example, in March 2024, as reported by the European Automobile Manufacturers Association, a Belgium-based group of major automobile manufacturers, the EU car market saw a notable growth in 2023, rising by 13.9% compared to 2022, and achieving a volume of 10.5 million units. Consequently, the surging demand for automobiles is spurring the growth of the isothermal forging market.
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What Is the projected market size and growth rate for the isothermal forging market?
In recent times, substantial growth has been observed in the isothermal forging market size. Its size is set to increase from $9.02 billion in 2024 to $9.57 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.2%. The growth during the historical period has been ascribed to factors such as rising demand from the automotive sector, advancements in materials, cost-efficiency improvements, surge in consumer electronics, energy sector necessities, and environmental concerns.
In the upcoming years, the isothermal forging market is anticipated to witness robust growth, with its market size projected to reach "$12.47 billion in 2029, expanding at a compound annual growth rate (CAGR) of 6.8%. Factors such as more available material choices, the rise in automotive lightweighting, the demand for medical implants, the expansion of the aerospace industry, and the adoption of ecological manufacturing procedures contribute to this expected growth during the forecast period. Key trends anticipated during this period encompass sustainability and recycling, technological developments in Metal Injection Molding (MIM) equipment, an increase in customization and personalization, enhanced quality control and certification, and the integration of 3D printing.
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What new trends are reshaping the isothermal forging market and its opportunities?
Key firms plying their trade in the isothermal forging sector are concentrating on creating new, advanced technology such as isothermal forging modules. They are doing so to elevate their production capability and strengthen the mechanical traits of their forged elements. In doing so, they aim to meet the stringent demands of sectors such as aerospace and the auto industry. Isothermal forging modules are tailor-made production systems aimed at maintaining a stable temperature during the process of forging. This way, they are able to maximize the material attributes and optimize the functionality of the forged elements. For instance, ALD, a car leasing and fleet managing company based in France, was chosen by Safran in April 2024 to supply an isothermal forging set-up. This highly developed system is made to upgrade the forging procedure, enabling the fabrication of intricate geometrical shapes possessing superior mechanical aspects. ALD's system, by leveraging isothermal forging, can augment the material features of components, leading to added strength and robustness that are essential for rigorous applications in the field of aerospace.
What major market segments define the scope and growth of the isothermal forging market?
The isothermal forging market covered in this report is segmented -
1) By Raw Material: Carbon Steel Metal Forging, Alloy Steel Metal Forging, Aluminum Metal Forging, Magnesium Metal Forging, Stainless Steel Metal Forging, Titanium Metal Forging, Other Raw Material Metal Forging
2) By Processes: Conduction heating, Induction heating
3) By End Use Vertical: Aerospace And Defense, Agriculture Equipment, Automotive, Construction And Mining Equipment And Components, Electrical And Electronic, Energy And Power, Industrial And Manufacturing, Marine And Rail, Oil And Gas
Subsegments:
1) By Carbon Steel Metal Forging: Low Carbon Steel Forging, Medium Carbon Steel Forging, High Carbon Steel Forging
2) By Alloy Steel Metal Forging: Low Alloy Steel Forging, High Alloy Steel Forging
3) By Aluminum Metal Forging: 2000 Series Aluminum Forging, 3000 Series Aluminum Forging, 5000 Series Aluminum Forging, 6000 Series Aluminum Forging, 7000 Series Aluminum Forging
4) By Magnesium Metal Forging: AZ Series Magnesium Forging, AM Series Magnesium Forging
5) By Stainless Steel Metal Forging: Austenitic Stainless Steel Forging, Ferritic Stainless Steel Forging, Martensitic Stainless Steel Forging
6) By Titanium Metal Forging: Alpha Titanium Forging, Beta Titanium Forging, Alpha-Beta Titanium Forging
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Which region dominates the isothermal forging market?
Asia-Pacific was the largest region in the isothermal forging market in 2024. The regions covered in the isothermal forging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the isothermal forging industry growth?
Major companies operating in the isothermal forging market include Anchor-Harvey Components LLC, Arconic Corp., ATI Forged Inc., Bharat Forge Ltd., CFS Forge, H C Starck Solutions Services Inc., Larsen & Toubro Ltd., Schuler Group, Trenton Forging Company, Pratt & Whitney, Alcoa Corporation, ALD Vacuum Technologies Pvt. Ltd., SMT Limited, Precision Castparts Corp., Leistritz Turbinentechnik GmbH, 3A Composites, Sundaram Fasteners Ltd., Kalyani Forge Limited, Aubert and Duval Pvt. Ltd., Bharat Dynamics Limited, Bharat Electronics Limited, Bharat Earth Movers Limited, Bharat Petroleum Corporation Limited, Amtek Auto Limited, Tata Steel Limited, Nanshan Forge Company, Bharat Heavy Electricals Limited, Formosa Plastics Group, Howmet Aerospace Inc., Aalco metals Ltd.
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What Is Covered In The Isothermal Forging Global Market Report?
• Market Size Forecast: Examine the isothermal forging market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the isothermal forging market for a structured understanding.
• Key Players Overview: Analyze major players in the isothermal forging market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the isothermal forging market.
• Segment Contributions: Evaluate how different segments drive overall growth in the isothermal forging market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the isothermal forging market.
• Industry Challenges: Identify potential risks and obstacles affecting the isothermal forging market.
• Competitive Landscape: Review strategic developments in the isothermal forging market, including expansions, agreements, and new product launches.
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