Stainless Steel Forgings Market Size, Share & Trends Analysis Report By Application (Automotive, Aerospace & Defense, Industrial), By Process (Open Die, Close Die), By Region, And Segment Forecasts, 2024

Description

Stainless Steel Forgings Market Growth & Trends:

The global stainless steel forgings market size is expected to reach USD 8.10 billion by 2030, registering a CAGR of 7.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Positive energy and construction industry outlook is expected to boost the market growth of stainless steel forgings over the forecast period.

Stainless steel forgings are now finding acceptance across various end-use industries on account of characteristics such as economic viability, reliability, and strength. These forgings exhibit higher strength than other steel alloys and also have good corrosion resistance. The forged products also have a higher strength to weight ratio on account of which they are used in a large number of applications.

The industrial application was the dominant segment in the market. The demand is driven by countries such as China and Japan due to a presence of a large number of heavy component manufacturers present. The growing usage of this product in automotive is expected to boost the overall demand. The application of stainless steel forgings in aviation is also expected to boost the demand over the forecast period.

Stainless Steel Forgings Market Report Highlights:

The automotive segment dominated the market and accounted for a share of 52.9% in 2023. The significant market growth can be attributed to the widespread use of forged parts in automobiles, ranging from engine components and chassis structures to transmission parts.
The aerospace & defense segment is expected to witness the fastest growth over the forecast period with a CAGR of 7.6%. The sector utilizes metal forging to fabricate essential, high-strength components necessary for aircraft and spacecraft, where material integrity and reliability are indispensable.
North America stainless steel forgings market is projected to be the fastest growing region in the global stainless steel forgings market with a CAGR of 9.5% over the forecast period.
Companies are moderately competitive with leading companies such as PCC Forged Products and ISGEC Heavy Engineering increasing their product portfolio by introducing new products in the market. The industry leaders are expected to dominate the market by acquisitions and increasing the capacity of their production facilities.
Manufacturers in the market are also engaged in expanding their presence by increasing the number of warehouses to cater to a large number of customers in different regions. The noticeable trend is of manufacturers entering into agreements with end-users for the supply of products.

Product Code: GVR-1-68038-197-9

Chapter 1. Methodology and Scope

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Stainless Steel Forgings Market Variables, Trends, & Scope

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
3.4. Stainless Steel Forgings Market Analysis Tools
- 3.4.1. Porter's Analysis
  - 3.4.1.1. Bargaining power of the suppliers
  - 3.4.1.2. Bargaining power of the buyers
  - 3.4.1.3. Threats of substitution
  - 3.4.1.4. Threats from new entrants
  - 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
  - 3.4.2.1. Political landscape
  - 3.4.2.2. Economic and Social landscape
  - 3.4.2.3. Technological landscape
  - 3.4.2.4. Environmental landscape
  - 3.4.2.5. Legal landscape

Chapter 4. Stainless Steel Forgings Market: Application Estimates & Trend Analysis

4.1. Segment Dashboard
4.2. Stainless Steel Forgings Market: Application Movement Analysis, 2023 & 2030 (USD Million)
4.3. Automotive
- 4.3.1. Automotive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Aerospace & Defense
- 4.4.1. Aerospace & Defense Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.5. Building & Construction
- 4.5.1. Building & Construction Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.6. Consumer Goods
- 4.6.1. Consumer Goods Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.7. Industrial
- 4.7.1. Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 5. Stainless Steel Forgings Market: Process Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. Stainless Steel Forgings Market: Process Movement Analysis, 2023 & 2030 (USD Million)
5.3. Open Die
- 5.3.1. Open Die Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Closed Die
- 5.4.1. Closed Die Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Ring Rolled
- 5.5.1. Ring Rolled Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 6. Stainless Steel Forgings Market: Regional Estimates & Trend Analysis

6.1. Stainless Steel Forgings Market Share, By Region, 2023 & 2030 (USD Million)
6.2. North America
- 6.2.1. North America Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
  - 6.2.2.1. U.S. Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
  - 6.2.3.1. Canada Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
  - 6.2.4.1. Mexico Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3. Europe
- 6.3.1. Europe Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. UK
  - 6.3.2.1. UK Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
  - 6.3.3.1. Germany Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
  - 6.3.4.1. France Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5. Italy
  - 6.3.5.1. Italy Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6. Spain
  - 6.3.6.1. Spain Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Asia Pacific
- 6.4.1. Asia Pacific Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. China
  - 6.4.2.1. China Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. Japan
  - 6.4.3.1. Japan Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. India
  - 6.4.4.1. India Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. South Korea
  - 6.4.5.1. South Korea Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Latin America
- 6.5.1. Latin America Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
  - 6.5.2.1. Brazil Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. Middle East and Africa
- 6.6.1. GCC
  - 6.6.1.1. GCC Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. South Africa
  - 6.6.2.1. South Africa Stainless Steel Forgings Market Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 7. Competitive Landscape

7.1. Recent Developments & Impact Analysis by Key Market Participants
7.2. Company Categorization
7.3. Company Heat Map Analysis
7.4. Company Profiles
- 7.4.1. American Axle & Manufacturing, Inc.
  - 7.4.1.1. Participant's Overview
  - 7.4.1.2. Financial Performance
  - 7.4.1.3. Product Benchmarking
  - 7.4.1.4. Recent Developments/Strategic Initiatives
- 7.4.2. ATI
  - 7.4.2.1. Participant's Overview
  - 7.4.2.2. Financial Performance
  - 7.4.2.3. Product Benchmarking
  - 7.4.2.4. Recent Developments/Strategic Initiatives
- 7.4.3. Bruck GmbH
  - 7.4.3.1. Participant's Overview
  - 7.4.3.2. Financial Performance
  - 7.4.3.3. Product Benchmarking
  - 7.4.3.4. Recent Developments/Strategic Initiatives
- 7.4.4. ELLWOOD Group Inc.
  - 7.4.4.1. Participant's Overview
  - 7.4.4.2. Financial Performance
  - 7.4.4.3. Product Benchmarking
  - 7.4.4.4. Recent Developments/Strategic Initiatives
- 7.4.5. Cornell Forge Co.
  - 7.4.5.1. Participant's Overview
  - 7.4.5.2. Financial Performance
  - 7.4.5.3. Product Benchmarking
  - 7.4.5.4. Recent Developments/Strategic Initiatives
- 7.4.6. Bharat Forge
  - 7.4.6.1. Participant's Overview
  - 7.4.6.2. Financial Performance
  - 7.4.6.3. Product Benchmarking
  - 7.4.6.4. Recent Developments/Strategic Initiatives
- 7.4.7. Precision Castparts Corp.
  - 7.4.7.1. Participant's Overview
  - 7.4.7.2. Financial Performance
  - 7.4.7.3. Product Benchmarking
  - 7.4.7.4. Recent Developments/Strategic Initiatives
- 7.4.8. LARSEN & TOUBRO LIMITED
  - 7.4.8.1. Participant's Overview
  - 7.4.8.2. Financial Performance
  - 7.4.8.3. Product Benchmarking
  - 7.4.8.4. Recent Developments/Strategic Initiatives
- 7.4.9. Scot Forge Company
  - 7.4.9.1. Participant's Overview
  - 7.4.9.2. Financial Performance
  - 7.4.9.3. Product Benchmarking
  - 7.4.9.4. Recent Developments/Strategic Initiatives
- 7.4.10. Trenton Forging Company
  - 7.4.10.1. Participant's Overview
  - 7.4.10.2. Financial Performance
  - 7.4.10.3. Product Benchmarking
  - 7.4.10.4. Recent Developments/Strategic Initiatives

Stainless Steel Forgings Market Size, Share & Trends Analysis Report By Application (Automotive, Aerospace & Defense, Industrial), By Process (Open Die, Close Die), By Region, And Segment Forecasts, 2024 - 2030