Forged And Stamped Goods Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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How Large Will the Forged And Stamped Goods Market Size By 2025?
The market size for forged and stamped goods has seen a stable growth over the past few years. Its projected size will increase from $279.43 billion in 2024 to $290.3 billion in 2025, showing a compound annual growth rate (CAGR) of 3.9%. The growth seen in the historical period is due to factors such as industrial expansion, changes in raw material costs, technological progression, and environmental regulatory measures.

How Big Is the Forged And Stamped Goods Market Size Expected to Grow by 2029?
Expectations are high for stable expansion in the forged and stamped goods marketplace in the coming years. The market is projected to reach $349.13 billion by 2029, rising at a compound annual growth rate (CAGR) of 4.7%. The predicted growth during this period is due to several factors such as infrastructure progression, developments in the automotive sector, aerospace and defense, along with renewable energy. The forecast period is also likely to witness several trends including electrification and lightweighting, use of advanced materials, additive manufacturing, digitalisation and interconnectivity, and collaborations and partnerships.

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Which Key Market Drivers Powering Forged And Stamped Goods Market Expansion and Growth?
The forecasted upturn in aircraft production demand, fueled by the increasing need for both international and domestic air travel along with surging government defence budgets, is predicted to stimulate the demand for forged and stamped goods. Countries around the globe are escalating their defence budgets to enhance their responsive capabilities to global crises, making investments in advanced technology equipment across sectors such as ammunition, aircraft, and helicopters to ensure preparedness in any emergency situation. For instance, in January 2023, the American President requested funding of $772 billion for the Department of Defence. Projections for the 2023 Future Years Defence Program (FYDP) indicate an anticipated 1.5 percent escalation in the DoD's budget, taking it to $784 billion in 2024. This surge in defence budgets along with the ramp-up in commercial aircraft production numbers will inevitably steer the demand for forged metal components in the foreseeable future, propelling the overall market for forged and stamped goods.

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What Long-Term Trends Will Define the Future of the Forged And Stamped Goods Market?
Key players in the forged and stamped goods industry, such as Hilton Metal Forging Ltd., are concentrating on the production of innovative products like high-strength forged goods to fulfill the escalating demand for robust and lightweight materials across different sectors. High-strength forged goods, produced through the process of forging, exhibit superior mechanical attributes such as increased tensile strength and resistance to deformation. In a recent development, in June 2024, the India-based iron and steel forging firm Hilton Metal Forging Ltd, introduced wagon axles manufactured for railway wagons, indicating its response to supply deficiencies in the railway sector. With an annual capacity of 48,000 wheels, this product aligns with rigorous quality standards, vouching for its resilience and dependability in facilitating safe and effective goods transportation. The successful introduction of wagon axles is a reflection of Hilton Metal Forging Ltd.'s overarching strategy to reinforce its footprint in the indigenous railway market while identifying funding opportunities for enlargement of production capabilities. The company's application of advanced forging methods enhances the robustness and effectiveness of these axles, rendering them appropriate for substantial railway loads.

What Are the Emerging Segments in the Forged And Stamped Goods Market?
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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Who Are the Global Leaders in the Forged And Stamped Goods Market?
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 are the Top Profitable Regional Markets for the Forged And Stamped Goods Industry?
Asia-Pacific was the largest region in the forged and stamped goods market in 2024. 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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