Forging Market Size Estimated to Generate $129.76 Billion by 2031 | Aichi Steel, Thyssenkrupp, AAM

QYResearch A newly published report titled "Global Forging Market Insights, Forecast to 2031" by QY Research throws light on the industry dynamics and current and future trends that play a key role in determining the business expansion. The Forging report also highlights the key driving factors and restraints that are impacting the growth. For a comprehensive understanding, the professionals have reviewed the regulatory scenario, market entry strategies, best industry practices, pricing strategy, technology landscape, and consumption, sales, and demand outlook. Y-o-Y growth estimates have also been included to provide the users with accurate statistics and facts. This Forging Market report will give the readers a bigger and see-through picture of the overall scenario.

The global market for Forging was estimated to be worth US$ 90.85 billion in 2024 and is forecast to a readjusted size of US$ 129.76 billion by 2031 with a CAGR of 5.3% during the forecast period 2025-2031.

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Forging is a manufacturing process involving the shaping of metal using localized compressive forces. The blows are delivered with a hammer (often a power hammer) or a die. Forging is often classified according to the temperature at which it is performed: cold forging (a type of cold working), warm forging, or hot forging (a type of hot working). For the latter two, the metal is heated, usually in a forge. Forged parts can range in weight from less than a kilogram to hundreds of metric tons. Forging has been done by smiths for millennia; the traditional products were kitchenware, hardware, hand tools, edged weapons, cymbals, and jewellery. Since the Industrial Revolution, forged parts are widely used in mechanisms and machines wherever a component requires high strength; such forgings usually require further processing (such as machining) to achieve a finished part. Today, forging is a major worldwide industry.

Global Forging key players include Precision Castparts Corp, Arconic, Thyssenkrupp, KOBELCO, Nippon Steel & Sumitomo Metal, etc. Global top five manufacturers hold a share about 15%. China is the largest market, with a share about 30%, followed by Europe, with a share about 25 percent. In terms of product, Closed Die Forgings is the largest segment, with a share about 80%. And in terms of application, the largest application is Automotive, followed by General Industrial, Aerospace, Agricultural, etc.

Featured Companies: -

Nippon Steel & Sumitomo Metal
Aichi Steel
Thyssenkrupp
AAM
Bharat Forge
KOBELCO
WanXiang
FAW
Arconic
Mahindra Forgings Europe
Farinia
Longcheng Forging
Sinotruck
Dongfeng Forging
Jiangsu Pacific Precision Forging
Sypris Solutions
Ashok Leyland
Allegheny Technologies
VDM Metals
CITIC Heavy Industries

Companies are selected based on parameters such as: -

> Revenue generation
> Manufacturing facilities
> R&D investments
> Market share and innovation pipeline
> Geographical presence

Market Drivers:-

Forging market drivers include a few key factors include growing consumer demand for the product, successful marketing tactics in new states, and large investments in product development. Easy access to competitors is one of the main issues facing the Forging business. Another hurdle to the Forging market is the low cost of substitutes. Businesses think they can get past this barrier, though, by controlling prices and introducing chemicals, specialty chemicals, polymers, metals, ceramics, composites, and advanced materials sector, which will increase consumer demand for their products. Furthermore, in order to minimise dangers, modify their plans, and continue operating, market participants must face substantial challenges. Consequently, companies will be able to effectively allocate their resources without compromising timely market supply or product quality.

Forging Market Trends:

Forging The pre- and post-period regulatory situation plays an important role in shaping market dynamics. As governments introduce and refine regulations governing the production, distribution, and sale of Forging products, businesses must navigate complex compliance requirements to ensure lawful operations. Regulatory clarity and consistency are key factors that positively impact markets, providing certainty for businesses and giving people confidence in product safety and quality standards. Additionally, regulatory developments such as the approval of Forging chemical and material products and the establishment Forging of cultivation programs are opening up new opportunities for market expansion while setting standards for best practices in the industry.

Detailed of Forging Market Segmentation: -

Our market analysts are experts in deeply segmenting the global Forging market and thoroughly evaluating the growth potential of each and every segment studied in the report. Right at the beginning of the research study, the segments are compared on the basis of consumption and growth rate for a review period of nine years. The segmentation study included in the report offers a brilliant analysis of the global Forging market, taking into consideration the market potential of different segments studied. It assists market participants to focus on high-growth areas of the global Forging market and plan powerful business tactics to secure a position of strength in the industry.

Segmentation By Type :-

Closed Die Forgings
Open Die Forgings
Rolled Rings Forgings

Segmentation By Application : -

Automotive
Aerospace
Agricultural
General Industrial
Other

Regional Insights -

The authors of the report have analyzed both developing and developed regions considered for the research and analysis of the global Forging market. The regional analysis section of the report provides an extensive research study on different regional and country-wise Forging markets to help players plan effective expansion strategies. Moreover, it offers highly accurate estimations on the CAGR, market share, and market size of key regions and countries. Players can use this study to explore untapped Forging markets to extend their reach and create sales opportunities.

United States

-Canada
-Mexico
-Brazil

APAC

-Japan
-South Korea
-China
-ASEAN
-India

EMEA

-Europe
-Middle East
-Africa

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Each chapter in the report delivers a wealth of information:

ᗒ Product Definitions, Types, and Volume/Revenue Analysis
ᗒ Manufacturer Competition Status
ᗒ Historical and Forecast Volume/Revenue Analysis
ᗒ Product Application Analysis
ᗒ Country-Level Analysis
ᗒ Manufacturer Profiles
ᗒ Industry Chain Insights
ᗒ Market Channel, Distributors, and Customers
ᗒ Conclusive Remarks
ᗒ Methodology and Data Sources

Key Features Of The Study:-

ᗒ This report provides in-depth analysis of the global Forging market, and provides market size (us$ million) and cagr for the forecast period (205-2031), considering 2023 as the base year.

ᗒ This report profiles key players in the global Forging market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Forging sales data, market share and ranking.

ᗒ This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.

ᗒ This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.

ᗒ The global Forging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.

Important questions answered in the report includes of:

ᗒ How will the market for the Forging Market industry grow in 2025?

ᗒ Which well-known major companies will drive the market's growth?

ᗒ Which size of business held the biggest market share for data centre?

ᗒ What is the market's Compound Annual Growth Rate (CAGR) for the 2025-2031 forecast period?

ᗒ What is the primary factor driving the market's expansion?

ᗒ In the market, which region held the highest market share?

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