Market Overview:
The global metal forging market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for lightweight and high-strength metals in automotive and aerospace applications. In addition, the growing construction sector is also expected to drive the demand for metal forgings in the coming years. The global metal forging market can be segmented on the basis of type, application, and region. On the basis of type, carbon steel, alloy steel, aluminum, magnesium, stainless steel titanium are some of key segments considered in this study. Among these types carbon steel held a dominant share in 2017 owing to its widespread use across various industries such as automotive and aerospace etcetera However with technological advancements alloys steels are gaining popularity due their superior properties over carbon steels which would fuel its demand over forecast period Alloy steels are projected register highest CAGR during 2018-2030 owing rising use aircrafts & defense applications .
Product Definition:
Metal forging is the process of shaping metal using heat and pressure. It is an important process for manufacturing parts that need to be strong and durable.
Carbon Steel:
Carbon steel is a carbon-rich alloy of iron and other metals. It has high carbon content ranging from 8% to 12%. The higher the carbon content, the harder is steel. Carbon steel contains iron, nickel, chromium and molybdenum; it has been used in construction applications for making rebars (pressure rods), pipes & tanks and manhole covers.
Alloy Steel:
Alloy steel is a material that consists of two or more metals, which are mixed in definite proportion and used for the production of various components and products. The product is widely used by the automotive industry owing to properties such as high strength, corrosion resistance, ductility & hardness along with low weight. It can also be utilized in construction applications where it finds application in producing reinforcement bars for concrete structures.
Application Insights:
The automotive segment accounted for the largest revenue share in 2016 and is projected to continue its dominance over the forecast period. The growth of this segment can be attributed to increasing demand for vehicles from developing countries such as China, India, and Brazil. In addition, stringent regulations on pollution control are expected to increase vehicle production globally which will further propel metal forging in automotive applications.
Aerospace is another key application sector where metal forged parts are widely used owing to their lightweight properties and ability to withstand high temperatures without deformation or wear. Titanium alloys are most commonly used owing to their strength-to-weight ratio which makes them suitable for use in aircraft components including landing gear systems, jet engine turbines blades etcetera. Other than aerospace applications carbon steel remains the most popular material of choice due largely its low cost coupled with ease of availability across different grades (for example AISI 1010).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Vietnam. These countries are witnessing strong economic growth owing to various factors such as increasing disposable income of consumers and improving standard of living due to rising per capita income. Moreover, rapid industrialization coupled with government initiatives towards infrastructure development has led to a significant rise in demand for metal forging tools used for manufacturing components such as gears and shafts for various applications across industries such as automotive, aerospace & defense among others.
Growth Factors:
- Increasing demand for lightweight and high-strength materials in automotive and aerospace industries
- Growing popularity of electric vehicles, which require more lightweight components
- Rising demand from the construction and infrastructure sectors
- Growing use of metal forging in medical implants and prosthetics
- Technological advancements that are making metal forging faster, cheaper, and more efficient
Scope Of The Report
Report Attributes
Report Details
Report Title
Metal Forging Market Research Report
By Type
Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Others
By Application
Automotive, Aerospace, Oil & Gas, Construction, Agriculture, Others
By Companies
Nippon Steel, China First Heavy Industries, Ellwood Group Inc., Bharat Forge Ltd., Kovárna VIVA, thyssenkrupp Business Area Components Technology, Arconic, Scot Forge, Bruck GmbH, Precision Castparts Corp., ATI, Larsen & Toubro Limited, Japan Casting & Forging Corp., Jiangyin Hengrun Heavy Industries Co., Ltd
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Metal Forging Market Report Segments:
The global Metal Forging market is segmented on the basis of:
Types
Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Aerospace, Oil & Gas, Construction, Agriculture, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nippon Steel
- China First Heavy Industries
- Ellwood Group Inc.
- Bharat Forge Ltd.
- Kovárna VIVA
- thyssenkrupp Business Area Components Technology
- Arconic
- Scot Forge
- Bruck GmbH
- Precision Castparts Corp.
- ATI
- Larsen & Toubro Limited
- Japan Casting & Forging Corp.
- Jiangyin Hengrun Heavy Industries Co., Ltd
Highlights of The Metal Forging Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Carbon Steel
- Alloy Steel
- Aluminum
- Magnesium
- Stainless Steel
- Titanium
- Others
- By Application:
- Automotive
- Aerospace
- Oil & Gas
- Construction
- Agriculture
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Metal Forging Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Metal forging is a process of creating metal objects by heating metal until it becomes malleable and then shaping it into the desired form.
Some of the major companies in the metal forging market are Nippon Steel, China First Heavy Industries, Ellwood Group Inc., Bharat Forge Ltd., KovƒÂ¡rna VIVA, thyssenkrupp Business Area Components Technology, Arconic, Scot Forge, Bruck GmbH, Precision Castparts Corp., ATI, Larsen & Toubro Limited, Japan Casting & Forging Corp., Jiangyin Hengrun Heavy Industries Co., Ltd.
The metal forging market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Metal Forging Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Metal Forging Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Metal Forging Market - Supply Chain
4.5. Global Metal Forging Market Forecast
4.5.1. Metal Forging Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Metal Forging Market Size (000 Units) and Y-o-Y Growth
4.5.3. Metal Forging Market Absolute $ Opportunity
5. Global Metal Forging Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Metal Forging Market Size and Volume Forecast by Type
5.3.1. Carbon Steel
5.3.2. Alloy Steel
5.3.3. Aluminum
5.3.4. Magnesium
5.3.5. Stainless Steel
5.3.6. Titanium
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Metal Forging Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Metal Forging Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Aerospace
6.3.3. Oil & Gas
6.3.4. Construction
6.3.5. Agriculture
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Metal Forging Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Metal Forging Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Metal Forging Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Metal Forging Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Metal Forging Demand Share Forecast, 2019-2026
9. North America Metal Forging Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Metal Forging Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Metal Forging Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Aerospace
9.4.3. Oil & Gas
9.4.4. Construction
9.4.5. Agriculture
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Metal Forging Market Size and Volume Forecast by Type
9.7.1. Carbon Steel
9.7.2. Alloy Steel
9.7.3. Aluminum
9.7.4. Magnesium
9.7.5. Stainless Steel
9.7.6. Titanium
9.7.7. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Metal Forging Demand Share Forecast, 2019-2026
10. Latin America Metal Forging Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Metal Forging Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Metal Forging Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Aerospace
10.4.3. Oil & Gas
10.4.4. Construction
10.4.5. Agriculture
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Metal Forging Market Size and Volume Forecast by Type
10.7.1. Carbon Steel
10.7.2. Alloy Steel
10.7.3. Aluminum
10.7.4. Magnesium
10.7.5. Stainless Steel
10.7.6. Titanium
10.7.7. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Metal Forging Demand Share Forecast, 2019-2026
11. Europe Metal Forging Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Metal Forging Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Metal Forging Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Aerospace
11.4.3. Oil & Gas
11.4.4. Construction
11.4.5. Agriculture
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Metal Forging Market Size and Volume Forecast by Type
11.7.1. Carbon Steel
11.7.2. Alloy Steel
11.7.3. Aluminum
11.7.4. Magnesium
11.7.5. Stainless Steel
11.7.6. Titanium
11.7.7. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Metal Forging Demand Share, 2019-2026
12. Asia Pacific Metal Forging Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Metal Forging Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Metal Forging Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Aerospace
12.4.3. Oil & Gas
12.4.4. Construction
12.4.5. Agriculture
12.4.6. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Metal Forging Market Size and Volume Forecast by Type
12.7.1. Carbon Steel
12.7.2. Alloy Steel
12.7.3. Aluminum
12.7.4. Magnesium
12.7.5. Stainless Steel
12.7.6. Titanium
12.7.7. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Metal Forging Demand Share, 2019-2026
13. Middle East & Africa Metal Forging Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Metal Forging Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Metal Forging Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Aerospace
13.4.3. Oil & Gas
13.4.4. Construction
13.4.5. Agriculture
13.4.6. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Metal Forging Market Size and Volume Forecast by Type
13.7.1. Carbon Steel
13.7.2. Alloy Steel
13.7.3. Aluminum
13.7.4. Magnesium
13.7.5. Stainless Steel
13.7.6. Titanium
13.7.7. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Metal Forging Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Metal Forging Market: Market Share Analysis
14.2. Metal Forging Distributors and Customers
14.3. Metal Forging Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Nippon Steel
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. China First Heavy Industries
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Ellwood Group Inc.
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Bharat Forge Ltd.
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kovárna VIVA
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. thyssenkrupp Business Area Components Technology
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Arconic
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Scot Forge
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Bruck GmbH
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Precision Castparts Corp.
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. ATI
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Larsen & Toubro Limited
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Japan Casting & Forging Corp.
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Jiangyin Hengrun Heavy Industries Co., Ltd
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook