Market Summary
Research Methodology on Metal Forging Market
Introduction
Metal forging is the process of deforming metal parts through the application of compressive forces. This technique is used in the manufacture of metal components for both large and small projects. Metal forging is one of the oldest metalworking processes, and is used to make a variety of parts from weapons to car parts. The metal forging industry is a key part of the metalworking industry, as metal forging can produce components which are highly accurate, uniform, and resistant to corrosion.
Research Methodology
In order to complete comprehensive research on the Metal Forging Market, a range of research strategies have been employed. This report provides an overview of the current market for metal forging and its future outlook adopts the following research methodology:
- Primary Research
Primary research is the most widely used research method in the present scenario. Primary research includes both qualitative and quantitative research methods. In-depth interviews are conducted with industry professionals, experts, and stakeholders. The interviews are conducted to obtain information regarding the dynamics and products offered in the global metal forging market. The interviews aim to assess the ongoing market trends and future growth potential of the metal forging industry.
- Secondary Research
Secondary research is conducted to obtain detailed information about the global metal forging industry. This includes reviewing both online and offline sources such as journals, past literature, databases, and other resources. Sources such as official websites of industry players, journals, and press releases are thoroughly studied and their content is assessed to extract data relevant to the research study. In order to gain an understanding of the market, Porter’s Five Force Model was used.
- Market Segmentation
Market segmentation is done in order to identify the competitive landscape of the metal forging industry. The market is segmented based on application and geography. By application, the market is segmented into automotive, aerospace, construction, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
- Data Analysis
A mix of bottom-up and top-down approaches is used to estimate and validate the market size and projected figures. The report includes the scope of the market, drivers, restraints, opportunities, and key industry trends. Macroeconomic indicators are used to analyze the overall market size. Several secondary sources are used to assess the impact of different factors on the metal forging industry. Finally, a comprehensive bottom-up and top-down approach is used to obtain the estimated and forecasted sizes of the market. In addition, the metal forging market is forecasted according to the market dynamics and segmentation.
- Assumptions
The market size estimation and forecasting exercise require assumptions about different aspects of the global metal forging market. The assumptions made for market sizing and forecasting include the following:
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The metal forging market is expected to remain stable in the near future.
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The growth rate of the metal forging market is assumed to remain constant.
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Regional trends of the metal forging market are assumed to remain the same throughout the forecast period.
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Pricing of the different products offered in the metal forging market is assumed to remain stable.
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Demand from key application segments is assumed to remain similar in the near future.
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Demand and supply of raw materials are assumed to remain stable.
Conclusion
This report provides an overview of the current market for metal forging and its future outlook. Primary research and secondary research are used to estimate the size of the metal forging market and to forecast its future performance. The data collected and analyzed includes macroeconomic indicators, industry trends, demand and supply dynamics, applications, and regional trends. A comprehensive bottom-up and top-down approach is used to estimate and forecast the market size and projected figures. The report also includes the assumptions and limitations faced during the research exercise.
Market Size & Forecast
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 81.1 billion |
| Market Size 2024 | USD 87.5069 billion |
| Market Size 2032 | USD 160.12 billion |
| Compound Annual Growth Rate (CAGR) | 7.85 % (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Raw Material, type, End-use Industry and region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa and South America |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, UAE, Argentina, |
| Key Companies Profiled | Arconic (USA), China First Heavy Industries (China), ATI (Allegheny Technologies Incorporated) (USA), Bharat Forge (India), JAPAN CASTING & FORGING CORP. (Japan), Brück GmbH (Germany), OMZSpecial Steels LLC (Russia), LARSEN & TOUBRO LIMITED (India), North American Forgemasters (USA) and NIPPON STEEL CORPORATION (Japan) |
| Key Market Opportunities | · Constant Innovations In Metal Forging Methods And Processes |
| Key Market Dynamics | · Surging Demand For Both Passenger As Well As Commercial Vehicles· Growing Commercial Aircraft Production |
Major Players
Metal Forging Market Segmentation
Metal Forging Raw Material Outlook (USD Million, 2019-2030)
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
Metal Forging Type Outlook (USD Million, 2019-2030)
- Closed-die Forging
- Open-die Forging
- Others
Metal Forging End-use Outlook (USD Million, 2019-2030)
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
Metal Forging Regional Outlook (USD Million, 2019-2030)
- North America Outlook (USD Million, 2019-2030)
- North America Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- North America Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- North America Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- North America Metal Forging by Raw Material
- US Outlook (USD Million, 2019-2030)
- US Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- US Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- US Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Canada Outlook (USD Million, 2019-2030)
- Canada Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Canada Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Canada Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Europe Outlook (USD Million, 2019-2030)
- Europe Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Europe Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Europe Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Europe Metal Forging by Raw Material
- Germany Outlook (USD Million, 2019-2030)
- Germany Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Germany Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Germany Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- France Outlook (USD Million, 2019-2030)
- France Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- France Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- France Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- UK Outlook (USD Million, 2019-2030)
- UK Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- UK Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- UK Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Italy Outlook (USD Million, 2019-2030)
- Italy Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Italy Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Italy Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Spain Outlook (USD Million, 2019-2030)
- Spain Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Spain Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Spain Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Rest Of Europe Outlook (USD Million, 2019-2030)
- Rest Of Europe Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Rest Of Europe Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Rest Of Europe Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Asia-Pacific Outlook (USD Million, 2019-2030)
- Asia-Pacific Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Asia-Pacific Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Asia-Pacific Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Asia-Pacific Metal Forging by Raw Material
- China Outlook (USD Million, 2019-2030)
- China Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- China Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- China Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Japan Outlook (USD Million, 2019-2030)
- Japan Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Japan Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Japan Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- India Outlook (USD Million, 2019-2030)
- India Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- India Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- India Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Australia Outlook (USD Million, 2019-2030)
- Australia Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Australia Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Australia Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Rest of Asia-Pacific Outlook (USD Million, 2019-2030)
- Rest of Asia-Pacific Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Rest of Asia-Pacific Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Rest of Asia-Pacific Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Middle East & Africa Outlook (USD Million, 2019-2030)
- Middle East & Africa Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Middle East & Africa Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Middle East & Africa Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Middle East & Africa Metal Forging by Raw Material
- Saudi Arabia Outlook (USD Million, 2019-2030)
- Saudi Arabia Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Saudi Arabia Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Saudi Arabia Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- UAE Outlook (USD Million, 2019-2030)
- UAE Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Saudi Arabia Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Saudi Arabia Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- South Africa Outlook (USD Million, 2019-2030)
- South Africa Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- South Africa Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- South Africa Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Rest of Middle East & Africa Outlook (USD Million, 2019-2030)
- Rest of Middle East & Africa Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Rest of Middle East & Africa Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Rest of Middle East & Africa Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- South America Outlook (USD Million, 2019-2030)
- South America Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- South America Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- South America Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Brazil Outlook (USD Million, 2019-2030)
- Brazil Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Brazil Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Brazil Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Argentina Outlook (USD Million, 2019-2030)
- Argentina Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Argentina Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Argentina Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- Rest of South America Outlook (USD Million, 2019-2030)
- Rest of South America Metal Forging by Raw Material
- Steel
- Aluminium
- Magnesium
- Nickel-Based Alloys
- Titanium
- Other
- Rest of South America Metal Forging by End-use
- Closed-die Forging
- Open-die Forging
- Others
- Rest of South America Metal Forging by Type
- Automotive
- Aerospace & Defense
- Aircraft Engine
- Others
- Power
- Building & Construction
- Oil & Gas
- Metalworking
- Others
- South America Metal Forging by Raw Material
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