The latest report by IMARC, titled “Metal Forging Market Report by Raw Material (Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, and Others), Application (Automotive, Aerospace, Oil and Gas, Construction, Agriculture, and Others), and Region 2025-2033”, finds that the global metal forging market size reached USD 90.0 Billion in 2024. Metal forging refers to the procedure through which metals are formed and shaped with the help of compressive forces. These forces are applied using pressing, hammering, or rolling. Metal forging forms a vital part of industrial metal manufacturing, especially iron and steel, and this process makes some of the strongest parts, compared to other metal-producing procedures. Forging removes inclusions and breaks up impurities that cause stress points. In recent years, metal forging has gained momentum as it is widely used for producing vital aircraft parts, such as shafts for jet engines and turbines, landing gear, and structural components for transportation equipment.
Global Metal Forging Market Trends:
One of the primary factors driving the market is the exponential growth in the automotive and aerospace industries. Additionally, the extensive utilization of ferrous and nonferrous forgings in the aerospace industry in supersonic military aircraft, piston-engine planes, commercial jets, and helicopters is creating a positive market outlook. Other than this, the widespread usage of titanium in manufacturing aircraft components is positively influencing market growth. Besides this, forged components are also used in stress and shock points in trucks and other automobiles in the automotive industry. In line with this, key players are focusing on extending their production capacities to cater to a wider consumer base. Moreover, the augmenting demand for steel-based products is escalating the demand for metal forging as this process also finds widespread application in the steel industry. Looking forward, IMARC Group expects the market value to reach USD 145.4 Billion by 2033, exhibiting a CAGR of 5.44% during 2025-2033.
Market Summary:
- Based on the raw material, the market has been divided into carbon steel, alloy steel, aluminium, magnesium, stainless steel, titanium, and others.
- On the basis of the application, the market has been segmented into automotive, aerospace, oil and gas, construction, agriculture, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 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), Kovarna Viva, Larsen & Toubro Limited, Scot Forge, and Thyssenkrupp AG.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2024 |
Historical Period |
2019-2024 |
Forecast Period |
2025-2033 |
Units |
Billion USD |
Segment Coverage |
Raw Material, Application, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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 and Thyssenkrupp AG |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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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