2025 Forged And Stamped Goods Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Forged And Stamped Goods Industry Market Size Be by 2025?
The market size for forged and stamped goods has seen robust growth in the last few years. Its size is anticipated to increase from $317.16 billion in 2024 to $337.01 billion in 2025, representing a compound annual growth rate (CAGR) of 6.3%. Factors contributing to the growth in the historic period include industrial expansion, fluctuations in raw material costs, advancements in technology, and environmental regulations.

What's the Long-Term Growth Forecast for the Forged And Stamped Goods Market Size Through 2029?
Expectations are that the market for forged and stamped goods will consistently grow in the coming years, culminating in a expected value of $404.5 billion by 2029. This projected growth, at a compound annual growth rate (CAGR) of 4.7%, is largely thanks to factors such as infrastructure development, the automotive industry, the aerospace and defense sectors, and renewable energy initiatives. In this forecast period, key trends influencing growth include the move towards electrification and lighter weight products, the utilization of advanced materials and additive manufacturing, increased digitalization and connectivity, as well as collaboration and partnerships in the industry.

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What Are the Key Growth Drivers Fueling the Forged And Stamped Goods Market Expansion?
The demand for forged and stamped goods is anticipated to grow, driven by the increasing needs for aircraft manufacturing due to an increase in international and domestic air travel, as well as expanding government defence budgets. Various nations are boosting their defence spending to enhance their capacity to respond to global emergencies, incorporating advanced tech equipment across various categories like ammunition, aircraft, and helicopters for crisis readiness. For instance, in January 2023, the U.S. President proposed a defence budget of $772 billion for the Department of Defence. It's projected that the DoD budget will register a growth of 1.5 percent, reaching $784 billion in 2024, according to the 2023 Future Years Defence Program (FYDP). Consequently, the uptick in defence budgets and commercial aircraft production numbers will fuel the demand for forged metal components over the projection period, thereby propelling the overall forged and stamped goods market.

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What Are the Key Trends Driving Forged And Stamped Goods Market Growth?
Key players in the forged and stamped goods market are striving to innovate advanced products such as high-strength forged goods, in response to the growing need for sturdy and lightweight materials across various sectors. These high-strength forged items are produced using forging process, providing superior mechanical features like higher tensile strength and resistance to deformation. For instance, in June 2024, Hilton Metal Forging Ltd., a firm based in India specialising in iron and steel forging, introduced wagon axles for railway wagons. The product, with an annual manufacturing capacity of 48,000 wheels, is poised to meet the increasing need in the railway industry, even as supply deficits persist. These wagon axles have been designed to comply with strict quality controls to ensure their sustainability and dependability for secure and optimal goods transport. This move fits into Hilton's broader plans to fortify its standing in the domestic railway market, with ambitions to obtain resources to enhance production capabilities. Through the use of sophisticated forging methods, the firm heightens the robustness and performance of these axles, making them ideal for heavy-duty railway applications.

How Is the Forged And Stamped Goods Market Segmented?
The forged and stamped goods market covered in this report is segmented -

1) By Type: Iron and Steel Forged Goods, Nonferrous Forged Goods, Custom Roll Formed Goods, Powder Metallurgy Parts, Metal Crown, Closure, and Other Metal Stamped Goods
2) By End User Industry: Automotive, Construction, Food and Beverage Packaging, Machinery, Metal Products, Other End User Industries

Subsegments:
1) By Iron And Steel Forged Goods: Carbon Steel Forgings, Alloy Steel Forgings, Stainless Steel Forgings, Tool Steel Forgings
2) By Nonferrous Forged Goods: Aluminum Forgings, Copper Forgings, Brass Forgings, Titanium Forgings, Nickel-Based Alloy Forgings
3) By Custom Roll Formed Goods: Structural Shapes (Channels, Angles), Rails And Beams, Custom Profiles (Unique Shapes For Specific Applications)
4) By Powder Metallurgy Parts: Iron-Based Powder Metallurgy Parts, Non-Ferrous Powder Metallurgy Parts, Stainless Steel Powder Metallurgy Parts
5) By Metal Crown: Aluminum Metal Crowns, Steel Metal Crowns, Plastic Coated Metal Crowns
6) By Closure: Metal Closures (Bottle Caps, Cans), Plastic Closures, Composite Closures
7) By Other Metal Stamped Goods: Automotive Metal Stamped Parts, Industrial Metal Stamped Parts, Electrical Metal Stamped Parts, Consumer Goods Metal Stamped Parts

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Which Companies Are Leading the Charge in Forged And Stamped Goods Market Innovation?
Major companies operating in the forged and stamped goods market include ArcelorMittal S.A., Berkshire Hathaway Inc., Thyssenkrupp AG, American Axle & Manufacturing Inc., Kobe Steel Ltd., Bharat Forge Limited, Illinois Tool Works Inc, Fine Sinter Co. Ltd., CITIC Heavy Industries Co.Ltd., Allegheny Technologies Incorporated, PCC Structurals Inc., Smith & Wesson Precision Components (SWPC), CAB Worldwide, Ferralloy Inc., McKees Rocks Forgings Inc., All Metals & Forge Group LLC, Source International, The Federal Group USA, Atlas Bronze, Ken Forging Inc., Cornell Forge Co., MES Inc, Precision Castparts, Ellwood Group, Scot Forge, Anchor Harvey, SIFCO Industries Inc., Queen City Forging Company, Walker Forge Tennessee LLC, Weldaloy Products Company, Sintavia LLC, Sintex A/S, Bourdon Forge Company, Moline Forge, Patriot Forge Co., GMP Metal Products, Peerless Industrial Group, Carpathian Industries LLC, Forge Resources Group.

Which Regions Are Leading the Global Forged And Stamped Goods Market in Revenue?
Asia-Pacific was the largest region in the forged and stamped goods market in 2023. Western Europe was the second-largest region in the forged and stamped goods market. The regions covered in the forged and stamped report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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