Metal Forging Global Market Report 2024

Description

“Metal Forging Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on metal forging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for metal forging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The metal forging market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Closed-Die Forging; Open-Die Forging; Ring Rolling
2) By Raw Material: Carbon Steel; Alloy Steel; Aluminum; Magnesium; Stainless Steel; Titanium; Other Raw Materials
3) By End-User: Automotive; Defense And Aerospace; Shipbuilding; Power Industry; Oil And Gas; Other End User
Companies Mentioned: Arconic Corporation; Allegheny Technologies Incorporated; Bharat Forge Ltd.; Ellwood Group Inc.; Thyssenkrupp AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Metal forging involves the use of compressive forces to shape and form metals through processes such as hammering, pushing, or rolling.

The main types of metal forging include closed-die forging, open-die forging, and ring rolling. Closed-die forging occurs when a heated raw material, such as steel or aluminum, is entirely or partially encircled by two or more dies. This method is applied to forge materials such as carbon steel, alloy steel, aluminum, magnesium, stainless steel, titanium, and others. Industries utilizing closed-die forging include automotive, defense and aerospace, shipbuilding, the power industry, oil and gas, among others.

The metal forging market research report is one of a series of new reports from The Business Research Company that provides metal forging market statistics, including metal forging industry global market size, regional shares, competitors with a metal forging market share, detailed metal forging market segments, market trends and opportunities, and any further data you may need to thrive in the metal forging industry. This metal forging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The metal forging market size has grown strongly in recent years. It will grow from $94.74 billion in 2023 to $101.93 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to the expansion of the automotive industry, growth in the aerospace sector, exploration activities in the oil and gas industry, applications in defense and military sectors, developments in railway and transportation systems, and the globalization of supply chains.

The metal forging market size is expected to see strong growth in the next few years. It will grow to $132.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to the increased adoption of lightweight materials, a rise in electric vehicle production, infrastructure investments in emerging markets, expansion of the wind and solar energy sectors, and global initiatives towards carbon neutrality. Major trends expected in this forecast period include the use of closed-die forging technology, the integration of Industry 4.0 technologies, the promotion of sustainable forging practices, collaborations for research and development, and customization for defense and defense aerospace applications.

The metal forging market is anticipated to witness significant growth, driven by the upswing in the construction industry. Construction activities involve the creation, modification, and enhancement of public infrastructure, relying heavily on forged metal products such as steel beams and columns. These forged components are essential for constructing robust and durable structures that can withstand various environmental conditions while meeting safety standards. Notably, in March 2022, Metal Construction News reported a 12.9% increase in metal building construction in 2021, with growth observed in metal roofing, metal wall panels, and light-gauge steel framing for both exteriors and interiors. This surge in construction activities is a key factor propelling the growth of the metal forging market.

The automotive industry's expansion is another driving force for the growth of the metal forging market. Metal forging plays a crucial role in shaping and strengthening metal components used in the automotive sector, enhancing their structural integrity and overall performance. The global automotive industry witnessed a production increase of 5.7%, reaching 85.4 million motor vehicles in 2022, as reported by the European Automobile Manufacturers Association (ACEA). Similarly, in August 2021, U.S. new vehicle sales saw a 4.7% increase compared to July 2020, indicating sustained growth in the automotive sector. Consequently, the continued expansion of the automotive industry contributes to the growth of the metal forging market.

Automation in forging systems is emerging as a prominent trend in the metal forging market. Major industry players are investing in innovative products that leverage automated processing equipment, including induction forging, computer-controlled forging equipment, and automated control systems. For instance, Strojmetal, a Czech Republic-based manufacturer, introduced a fully automated aluminum forging line featuring advanced technologies for loading and unloading, robotic part handling, and real-time process monitoring. This flexible and efficient line caters to various parts and aluminum alloys, showcasing the industry's shift towards automated forging systems.

Companies in the metal forging market are actively developing revolutionary lubricants to enhance sustainability in automotive manufacturing. A notable example is Henkel's Bonderite L-FG F 605, a graphite-free, non-pigmented forging lubricant designed for automotive applications. This synthetic lubricant improves die life, reduces metal-to-metal contact, and eliminates ammonia emissions associated with graphite-based lubricants. The lubricant's formulation contributes to a safer and more sustainable workplace, reducing the need for replacements and lowering overall forging costs.

In July 2022, Bharat Forge Ltd., an India-based forging company, acquired JS Autocast Foundry India Private Ltd. This acquisition expands Bharat Forge's market categories, positioning the company to serve a broader range of industries both domestically and internationally. JS Autocast Foundry India Private Ltd. specializes in manufacturing high-quality castings and metal forgings for various industries, aligning with Bharat Forge's growth objectives.

Major companies operating in the metal forging market report are Arconic Corporation, Allegheny Technologies Incorporated, Bharat Forge Ltd., Ellwood Group Inc., Thyssenkrupp AG, Bruck GmbH, Nippon Steel Corp., Precision Castparts Corp., Larsen & Toubro Ltd., Japan Casting and Forging Corp., China First Heavy Industries Co. Ltd., Howmet Aerospace Inc., Schuler AG, Jiangyin Hengrun Heavy Industries Co. Ltd., ATI Ladish LLC, Kobelco Construction Machinery Co. Ltd., Scot Forge Company, Ferralloy Inc., Patriot Forge Co., Doncasters Inc., All Metals & Forge Group, Trenton Forging Company, Fountaintown Forge Inc., Commercial Forged Products, Component Sourcing International, Custom Alloy Corporation, Precision Metal Products Pvt. Ltd., SIFCO Industries Inc., Canton Drop Forge Inc., Shultz Steel Co., Consolidated Industries Inc., Pacific Forge Incorporated, Otto Fuchs KG

Asia-Pacific was the largest region in the metal forging market in 2023. The regions covered in the metal forging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the metal forging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The metal forging market includes revenues earned by entities by providing upset forging, swaging, press forging, and orbital forging services for metal products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11903

1. Executive Summary

2. Metal Forging Market Characteristics

3. Metal Forging Market Trends And Strategies

4. Metal Forging Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Metal Forging Market Size and Growth

5.1. Global Metal Forging Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Metal Forging Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Metal Forging Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Metal Forging Market Segmentation

6.1. Global Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Closed-Die Forging
Open-Die Forging
Ring Rolling
6.2. Global Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Carbon Steel
Alloy Steel
Aluminum
Magnesium
Stainless Steel
Titanium
Other Raw Materials
6.3. Global Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automotive
Defense And Aerospace
Shipbuilding
Power Industry
Oil And Gas
Other End User

7. Metal Forging Market Regional And Country Analysis

7.1. Global Metal Forging Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Metal Forging Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Metal Forging Market

8.1. Asia-Pacific Metal Forging Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Metal Forging Market

9.1. China Metal Forging Market Overview
9.2. China Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Metal Forging Market

10.1. India Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Metal Forging Market

11.1. Japan Metal Forging Market Overview
11.2. Japan Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Metal Forging Market

12.1. Australia Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Metal Forging Market

13.1. Indonesia Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Metal Forging Market

14.1. South Korea Metal Forging Market Overview
14.2. South Korea Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Metal Forging Market

15.1. Western Europe Metal Forging Market Overview
15.2. Western Europe Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Metal Forging Market

16.1. UK Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Metal Forging Market

17.1. Germany Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Metal Forging Market

18.1. France Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Metal Forging Market

19.1. Italy Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Metal Forging Market

20.1. Spain Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Metal Forging Market

21.1. Eastern Europe Metal Forging Market Overview
21.2. Eastern Europe Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Metal Forging Market

22.1. Russia Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Metal Forging Market

23.1. North America Metal Forging Market Overview
23.2. North America Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Metal Forging Market

24.1. USA Metal Forging Market Overview
24.2. USA Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Metal Forging Market

25.1. Canada Metal Forging Market Overview
25.2. Canada Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Metal Forging Market

26.1. South America Metal Forging Market Overview
26.2. South America Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Metal Forging Market

27.1. Brazil Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Metal Forging Market

28.1. Middle East Metal Forging Market Overview
28.2. Middle East Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Metal Forging Market

29.1. Africa Metal Forging Market Overview
29.2. Africa Metal Forging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Metal Forging Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Metal Forging Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Metal Forging Market Competitive Landscape And Company Profiles

30.1. Metal Forging Market Competitive Landscape
30.2. Metal Forging Market Company Profiles
- 30.2.1. Arconic Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Allegheny Technologies Incorporated
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Bharat Forge Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Ellwood Group Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Thyssenkrupp AG
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Metal Forging Market Competitive Benchmarking

32. Global Metal Forging Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Metal Forging Market

34. Metal Forging Market Future Outlook and Potential Analysis

34.1 Metal Forging Market In 2028 - Countries Offering Most New Opportunities
34.2 Metal Forging Market In 2028 - Segments Offering Most New Opportunities
34.3 Metal Forging Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer