The Market Reports

Synopsis

The global market for Metal Forgings was estimated to be worth US$ 79950 million in 2024 and is forecast to a readjusted size of US$ 116450 million by 2031 with a CAGR of 5.6% during the forecast period 2025-2031.

Metal forgings are products created through the process of heating and applying pressure to metal materials to alter their shape. This process enhances the strength and durability of the metal while ensuring consistency and quality of the product. Metal forgings are commonly made from various metals such as aluminum, steel, titanium, and copper. Their characteristics include high mechanical performance, excellent toughness, and good structural integrity. They are widely used in industries such as aerospace, automotive manufacturing, energy, construction, and toolmaking to meet the demands for high-strength and high-performance components.

The metal forgings market is experiencing steady growth, driven by increasing demand for high-performance and durable components across various industrial sectors. Technological advancements and improvements in manufacturing processes are expanding the range of applications for forged products. Particularly in aerospace, automotive, and energy sectors, advanced materials and processes are driving the demand for high-performance forgings. Additionally, global economic recovery and increased infrastructure development are supporting market growth.

Key drivers of the metal forgings market include the increasing demand for high-strength and durable components, advancements in manufacturing technology, and the expansion of industrial production. The aerospace and automotive industries' need for lightweight and high-strength materials is driving the use of high-performance forgings. Additionally, investment in the energy sector and growth in infrastructure projects further promote market development. Furthermore, globalization and technological innovations that enhance production efficiency have reduced forging manufacturing costs, contributing to market growth.

Global Metal Forging key players include Precision Castparts Corp., Howmet Aerospace Inc., Nippon Steel, Thyssenkrupp, KOBELCO, etc. Global top five manufacturers hold a share over 15%.

This report aims to provide a comprehensive presentation of the global market for Metal Forgings, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Metal Forgings by region & country, by Type, and by Application.

The Metal Forgings market size, estimations, and forecasts are provided in terms of sales volume (K Tons) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Metal Forgings.

Market Segmentation

By Company

• Precision Castparts Corp.
• Howmet Aerospace Inc.
• ATI Inc.
• Thyssenkrupp
• Nippon Steel
• VSMPO-AVISMA
• KOBELCO
• Aichi Steel
• Aubert & Duval
• Bharat Forge
• American Axle and Manufacturing (AAM)
• AVIC Heavy Machinery
• Wanxiang Qianchao
• FAW
• FRISA
• Farinia Group
• Longcheng Precision Forging
• Pacific Precision Forging
• Jinma Industrial Group
• CIE Automotive
• Sinotruck
• CITIC Heavy Industries
• Dongfeng Forging
• Acerinox S.A.
• Jiangyin Hengrun Heavy Industries
• Tongyu Heavy Industry
• Wuxi Paike New Material Technology
• Scot Forge Company
• Xi’an Triangle Defence Incorporated Company
• Brück GmbH
• Guizhou Aviation Technical
• Wuxi Hyatech
• Wanhang Die Forging

Segment by Type

• Carbon Steel
• Alloy Steel
• Aluminum
• Magnesium
• Stainless Steel
• Titanium
• Others

Segment by Application

• Automotive
• Defense and Aerospace
• Shipbuilding
• Power Industry
• Oil and Gas
• Construction Machinery
• Agriculture
• Others

Segment by Region

• North America: United States, Canada, and Mexico
• Europe: United Kingdom, Germany, France, Spain, Italy, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
• Middle East & Africa: Saudi Arabia, South Africa, and Rest of MEA
• Latin America: Brazil, Argentina, and Rest of Latin America

*If you need a regional or country-specific version, or customized segmentation, we can tailor the report to your requirements.