Steady Expansion Forecast for Metal Forging Market, Projected to Reach $150.83 Billion by 2029

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Metal Forging Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past years, the metal forging market has demonstrated a robust growth. This market is forecasted to expand from $101.04 billion in 2024 to a staggering $108.78 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.7%. Factors such as the growth of the automotive industry, expansion in the aerospace sector, advances in oil and gas exploration, defense and military usage, development in railway and transportation systems, as well as the globalization of supply chains have all contributed to this historic pace of growth.

Metal Forging Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, robust growth is anticipated in the metal forging market, which is set to reach $150.83 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.5%. The growth predicted for this period is due to factors such as the increasing uptake of lighter materials, the uptick in electric vehicle manufacturing, the investment in infrastructure within emerging markets, and the growth of the wind and solar energy sectors, along with global moves towards carbon neutrality. Key trends to watch in this forecast period involve closed-die forging technology, the incorporation of Industry 4.0 technologies, sustainable forging practices, partnerships for R&D, and customization tailored to the defense and defense aerospace industries.

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What Are the Drivers Transforming the Metal Forging Market?
The upsurge in the construction sector is projected to fuel the expansion of the metal forging market. Construction encompasses activities like building, modifying, repairing, refurbishing, improving, or even demolishing public infrastructural facilities, ranging from buildings to any others that enhance the value of real estate. Forged metal products such as steel beams, columns, and other crucial structural components are paramount to the construction industry, as they ensure structures are sturdy, long-lasting, capable of surviving harsh conditions, and meet safety regulations. As an example, a report authored by The Office for National Statistics in the UK in November 2023 stated that the total output from new construction efforts in 2022 grew by 15.8%, reaching an all-time high of £132,989 million ($172401 million). Consequently, the acceleration of the construction sector's growth significantly contributes to the expansion of metal forging.

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What Long-Term Trends Will Define the Future of the Metal Forging Market?
Automation is becoming integral in the metal forging market. In January 2023, Czech Republic-based Strojmetal installed a fully automated aluminum forging line. This new system includes automated handling, robots for part transfer, and real-time control, offering flexibility to manufacture diverse parts and alloys with higher efficiency.

Which Segments in the Metal Forging Market Offer the Most Profit Potential?
The metal forging market covered in this report is segmented -

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

Subsegments:
1) By Closed-Die Forging: Precision Forgings, Multi-Stage Forgings, Cold Closed-Die Forging
2) By Open-Die Forging: Upset Forging, Flat Forging, Radial Forging
3) By Ring Rolling: Seamless Ring Rolling, Welded Ring Rolling, Specialty Ring Rolling

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Which Firms Dominate the Metal Forging Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in the Metal Forging Market?
Asia-Pacific was the largest region in the metal forging market in 2024. The regions covered in the metal forging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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