Press release
Global Metal Forging Market Edition 2025: Industry Size to Reach USD 145.4 Billion by 2033, CAGR of 5.44%.
How Big is the Metal Forging Market?
The global metal forging market size reached USD 90.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 145.4 Billion by 2033, exhibiting a growth rate (CAGR) of 5.44% during 2025-2033.
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Global Metal Forging Market Dynamics:
Latest Trends in the Metal Forging Market:
The global metal forging market is forging a robust future, blending traditional craftsmanship with cutting-edge innovation to meet industrial demands. Industry experts highlight a surge in precision forging, which captured a significant share in 2024, driven by companies like Bharat Forge for their high-strength components-think lightweight gears enhancing electric vehicle performance. Asia-Pacific dominates with a 44.61% market share, fueled by China's industrial boom.
Advanced automation, as seen in Arconic's IoT-integrated systems, boosts efficiency by 15%, per industry data. Businesses are beginning to realize the global metal forging market isn't just about shaping metal; it's a vital enabler of durable, high-performance parts, seamlessly supporting automotive, aerospace, and energy sectors with sustainable, precise solutions that align with global trends toward efficiency and environmental responsibility.
Growth Drivers in the Metal Forging Market:
Growth in the global metal forging market, valued at USD 90.0 billion in 2024, is propelled by soaring demand from aerospace and automotive industries. With global vehicle production rising 5.7% in 2022, per ACEA, forged components like crankshafts drive a 53% market share-think electric vehicles relying on lightweight aluminum parts for efficiency.
Rapid industrialization, especially in Asia-Pacific, fuels infrastructure projects needing durable forgings. Despite high setup costs, innovations like closed-die forging cut material waste by 10%. Government policies, such as India's defense forging contracts, further accelerate adoption. The global metal forging market thrives as industries prioritize strength and sustainability, ensuring robust expansion across automotive, aerospace, and construction applications worldwide.
Future Demand in the Metal Forging Market:
Future demand in the global metal forging market is projected to reach USD 145.4 billion by 2033, with a CAGR of 5.44%. This growth is driven by expanding electric vehicle production and renewable energy projects, particularly in Asia-Pacific, where India's infrastructure boom demands forged steel components-think turbine parts for wind energy.
The automotive segment, with over 50% share, will dominate as lightweight materials gain traction. Emerging markets like the Middle East offer untapped potential, despite supply chain challenges. Partnerships, like Nippon Steel's with EV manufacturers, enhance innovation.
Stakeholders can leverage these trends, ensuring the global metal forging market meets rising needs for high-strength, eco-friendly components, shaping a resilient future for industrial applications across diverse regions.
By the IMARC Group, Some of the Top Competitive Landscape Operating in the Metal Forging Market are Given Below:
The Display Market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
• Arconic Corp.
• ATI
• Bharat Forge Ltd.
• Bruck GmbH
• China First Heavy Industries
• Ellwood Group Inc.
• Jiangyin Hengrun Heavy Industries Co. Ltd.
• Nippon Steel Corp.
• Precision Castparts Corp. (Berkshire Hathaway Inc)
• Kovárna Viva
• Larsen & Toubro Limited
• Scot Forge
• Thyssenkrupp AG
Contact Out Analysts for Brochure Requests, Customization, and Inquiries Before Purchase: https://www.imarcgroup.com/request?type=report&id=3478&flag=C
Emerging Trends in the Metal Forging Market:
Looking ahead, the global metal forging market will embrace transformative trends. AI-driven process optimization, as seen with Brück GmbH's automation, will enhance precision, reducing costs by 10%. Sustainable forging practices, like low-emission furnaces, will align with green regulations, especially in Europe. Lightweight titanium and aluminum forgings will surge, catering to aerospace and EV demands. Additive manufacturing integration, as explored by ATI, will enable complex geometries with minimal waste. These advancements promise to deliver efficient, eco-conscious solutions, ensuring the global metal forging market remains a leader in high-performance manufacturing, meeting evolving industry and environmental demands with innovation and precision.
Green Tea Market Report Segmentation:
Breakup by Raw Material:
• Carbon Steel
• Alloy Steel
• Aluminum
• Magnesium
• Stainless Steel
• Titanium
• Others
Carbon steel accounts for the majority of the market share
Breakup by Application:
• Automotive
• Aerospace
• Oil and Gas
• Construction
• Agriculture
• Others
Automotive holds the largest share in the industry
Regional Insights:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance
• Market Outlook
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-201971-6302
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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