Global Forging Market Size, Manufacturers, Opportunities and Forecast to 2030

Global Forging Market Size, Manufacturers, Opportunities and Forecast to 2030


Summary

Forging is a manufacturing process involving the shaping of metal using localized compressive forces. The blows are delivered with a hammer (often a power hammer) or a die. Forging is often classified according to the temperature at which it is performed: cold forging (a type of cold working), warm forging, or hot forging (a type of hot working). For the latter two, the metal is heated, usually in a forge. Forged parts can range in weight from less than a kilogram to hundreds of metric tons. Forging has been done by smiths for millennia; the traditional products were kitchenware, hardware, hand tools, edged weapons, cymbals, and jewellery. Since the Industrial Revolution, forged parts are widely used in mechanisms and machines wherever a component requires high strength; such forgings usually require further processing (such as machining) to achieve a finished part. Today, forging is a major worldwide industry.

According to APO Research, The global Forging market was estimated at US$ million in 2023 and is projected to reach a revised size of US$ million by 2030, witnessing a CAGR of xx% during the forecast period 2024-2030.

North American market for Forging is estimated to increase from $ million in 2024 to reach $ million by 2030, at a CAGR of % during the forecast period of 2025 through 2030.

Asia-Pacific market for Forging is estimated to increase from $ million in 2024 to reach $ million by 2030, at a CAGR of % during the forecast period of 2025 through 2030.

Europe market for Forging is estimated to increase from $ million in 2024 to reach $ million by 2030, at a CAGR of % during the forecast period of 2025 through 2030.

The major global manufacturers of Forging include Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge, KOBELCO, WanXiang, FAW and Arconic, etc. In 2023, the world's top three vendors accounted for approximately % of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Forging, 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 Forging.
The Forging market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Forging market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2019-2024. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:

Nippon Steel & Sumitomo Metal
Aichi Steel
Thyssenkrupp
AAM
Bharat Forge
KOBELCO
WanXiang
FAW
Arconic
Mahindra Forgings Europe
Farinia
Longcheng Forging
Sinotruck
Dongfeng Forging
Jiangsu Pacific Precision Forging
Sypris Solutions
Ashok Leyland
Allegheny Technologies
VDM Metals
CITIC Heavy Industries
Forging segment by Type

Closed Die Forgings
Open Die Forgings
Rolled Rings Forgings
Forging segment by Application

Automotive
Aerospace
Agricultural
General Industrial
Other
Forging Segment by Region

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Forging market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Forging and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Forging.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Introduces the study scope of this report, executive summary of market segments by type, market size segments for North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Chapter 2: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Forging manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Sales, revenue of Forging in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter 5: Introduces market segments by application, market size segment for North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 7, 8, 9, 10 and 11: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, sales and revenue by country.
Chapter 12: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics.
Chapter 13: Concluding Insights of the report.


1 Market Overview
1.1 Product Definition
1.2 Global Market Growth Prospects
1.2.1 Global Forging Market Size Estimates and Forecasts (2019-2030)
1.2.2 Global Forging Sales Estimates and Forecasts (2019-2030)
1.3 Forging Market by Type
1.3.1 Closed Die Forgings
1.3.2 Open Die Forgings
1.3.3 Rolled Rings Forgings
1.4 Global Forging Market Size by Type
1.4.1 Global Forging Market Size Overview by Type (2019-2030)
1.4.2 Global Forging Historic Market Size Review by Type (2019-2024)
1.4.3 Global Forging Forecasted Market Size by Type (2025-2030)
1.5 Key Regions Market Size by Type
1.5.1 North America Forging Sales Breakdown by Type (2019-2024)
1.5.2 Europe Forging Sales Breakdown by Type (2019-2024)
1.5.3 Asia-Pacific Forging Sales Breakdown by Type (2019-2024)
1.5.4 Latin America Forging Sales Breakdown by Type (2019-2024)
1.5.5 Middle East and Africa Forging Sales Breakdown by Type (2019-2024)
2 Global Market Dynamics
2.1 Forging Industry Trends
2.2 Forging Industry Drivers
2.3 Forging Industry Opportunities and Challenges
2.4 Forging Industry Restraints
3 Market Competitive Landscape by Company
3.1 Global Top Players by Forging Revenue (2019-2024)
3.2 Global Top Players by Forging Sales (2019-2024)
3.3 Global Top Players by Forging Price (2019-2024)
3.4 Global Forging Industry Company Ranking, 2022 VS 2023 VS 2024
3.5 Global Forging Key Company Manufacturing Sites & Headquarters
3.6 Global Forging Company, Product Type & Application
3.7 Global Forging Company Commercialization Time
3.8 Market Competitive Analysis
3.8.1 Global Forging Market CR5 and HHI
3.8.2 Global Top 5 and 10 Forging Players Market Share by Revenue in 2023
3.8.3 2023 Forging Tier 1, Tier 2, and Tier 3
4 Forging Regional Status and Outlook
4.1 Global Forging Market Size and CAGR by Region: 2019 VS 2023 VS 2030
4.2 Global Forging Historic Market Size by Region
4.2.1 Global Forging Sales in Volume by Region (2019-2024)
4.2.2 Global Forging Sales in Value by Region (2019-2024)
4.2.3 Global Forging Sales (Volume & Value), Price and Gross Margin (2019-2024)
4.3 Global Forging Forecasted Market Size by Region
4.3.1 Global Forging Sales in Volume by Region (2025-2030)
4.3.2 Global Forging Sales in Value by Region (2025-2030)
4.3.3 Global Forging Sales (Volume & Value), Price and Gross Margin (2025-2030)
5 Forging by Application
5.1 Forging Market by Application
5.1.1 Automotive
5.1.2 Aerospace
5.1.3 Agricultural
5.1.4 General Industrial
5.1.5 Other
5.2 Global Forging Market Size by Application
5.2.1 Global Forging Market Size Overview by Application (2019-2030)
5.2.2 Global Forging Historic Market Size Review by Application (2019-2024)
5.2.3 Global Forging Forecasted Market Size by Application (2025-2030)
5.3 Key Regions Market Size by Application
5.3.1 North America Forging Sales Breakdown by Application (2019-2024)
5.3.2 Europe Forging Sales Breakdown by Application (2019-2024)
5.3.3 Asia-Pacific Forging Sales Breakdown by Application (2019-2024)
5.3.4 Latin America Forging Sales Breakdown by Application (2019-2024)
5.3.5 Middle East and Africa Forging Sales Breakdown by Application (2019-2024)
6 Company Profiles
6.1 Nippon Steel & Sumitomo Metal
6.1.1 Nippon Steel & Sumitomo Metal Comapny Information
6.1.2 Nippon Steel & Sumitomo Metal Business Overview
6.1.3 Nippon Steel & Sumitomo Metal Forging Sales, Revenue and Gross Margin (2019-2024)
6.1.4 Nippon Steel & Sumitomo Metal Forging Product Portfolio
6.1.5 Nippon Steel & Sumitomo Metal Recent Developments
6.2 Aichi Steel
6.2.1 Aichi Steel Comapny Information
6.2.2 Aichi Steel Business Overview
6.2.3 Aichi Steel Forging Sales, Revenue and Gross Margin (2019-2024)
6.2.4 Aichi Steel Forging Product Portfolio
6.2.5 Aichi Steel Recent Developments
6.3 Thyssenkrupp
6.3.1 Thyssenkrupp Comapny Information
6.3.2 Thyssenkrupp Business Overview
6.3.3 Thyssenkrupp Forging Sales, Revenue and Gross Margin (2019-2024)
6.3.4 Thyssenkrupp Forging Product Portfolio
6.3.5 Thyssenkrupp Recent Developments
6.4 AAM
6.4.1 AAM Comapny Information
6.4.2 AAM Business Overview
6.4.3 AAM Forging Sales, Revenue and Gross Margin (2019-2024)
6.4.4 AAM Forging Product Portfolio
6.4.5 AAM Recent Developments
6.5 Bharat Forge
6.5.1 Bharat Forge Comapny Information
6.5.2 Bharat Forge Business Overview
6.5.3 Bharat Forge Forging Sales, Revenue and Gross Margin (2019-2024)
6.5.4 Bharat Forge Forging Product Portfolio
6.5.5 Bharat Forge Recent Developments
6.6 KOBELCO
6.6.1 KOBELCO Comapny Information
6.6.2 KOBELCO Business Overview
6.6.3 KOBELCO Forging Sales, Revenue and Gross Margin (2019-2024)
6.6.4 KOBELCO Forging Product Portfolio
6.6.5 KOBELCO Recent Developments
6.7 WanXiang
6.7.1 WanXiang Comapny Information
6.7.2 WanXiang Business Overview
6.7.3 WanXiang Forging Sales, Revenue and Gross Margin (2019-2024)
6.7.4 WanXiang Forging Product Portfolio
6.7.5 WanXiang Recent Developments
6.8 FAW
6.8.1 FAW Comapny Information
6.8.2 FAW Business Overview
6.8.3 FAW Forging Sales, Revenue and Gross Margin (2019-2024)
6.8.4 FAW Forging Product Portfolio
6.8.5 FAW Recent Developments
6.9 Arconic
6.9.1 Arconic Comapny Information
6.9.2 Arconic Business Overview
6.9.3 Arconic Forging Sales, Revenue and Gross Margin (2019-2024)
6.9.4 Arconic Forging Product Portfolio
6.9.5 Arconic Recent Developments
6.10 Mahindra Forgings Europe
6.10.1 Mahindra Forgings Europe Comapny Information
6.10.2 Mahindra Forgings Europe Business Overview
6.10.3 Mahindra Forgings Europe Forging Sales, Revenue and Gross Margin (2019-2024)
6.10.4 Mahindra Forgings Europe Forging Product Portfolio
6.10.5 Mahindra Forgings Europe Recent Developments
6.11 Farinia
6.11.1 Farinia Comapny Information
6.11.2 Farinia Business Overview
6.11.3 Farinia Forging Sales, Revenue and Gross Margin (2019-2024)
6.11.4 Farinia Forging Product Portfolio
6.11.5 Farinia Recent Developments
6.12 Longcheng Forging
6.12.1 Longcheng Forging Comapny Information
6.12.2 Longcheng Forging Business Overview
6.12.3 Longcheng Forging Forging Sales, Revenue and Gross Margin (2019-2024)
6.12.4 Longcheng Forging Forging Product Portfolio
6.12.5 Longcheng Forging Recent Developments
6.13 Sinotruck
6.13.1 Sinotruck Comapny Information
6.13.2 Sinotruck Business Overview
6.13.3 Sinotruck Forging Sales, Revenue and Gross Margin (2019-2024)
6.13.4 Sinotruck Forging Product Portfolio
6.13.5 Sinotruck Recent Developments
6.14 Dongfeng Forging
6.14.1 Dongfeng Forging Comapny Information
6.14.2 Dongfeng Forging Business Overview
6.14.3 Dongfeng Forging Forging Sales, Revenue and Gross Margin (2019-2024)
6.14.4 Dongfeng Forging Forging Product Portfolio
6.14.5 Dongfeng Forging Recent Developments
6.15 Jiangsu Pacific Precision Forging
6.15.1 Jiangsu Pacific Precision Forging Comapny Information
6.15.2 Jiangsu Pacific Precision Forging Business Overview
6.15.3 Jiangsu Pacific Precision Forging Forging Sales, Revenue and Gross Margin (2019-2024)
6.15.4 Jiangsu Pacific Precision Forging Forging Product Portfolio
6.15.5 Jiangsu Pacific Precision Forging Recent Developments
6.16 Sypris Solutions
6.16.1 Sypris Solutions Comapny Information
6.16.2 Sypris Solutions Business Overview
6.16.3 Sypris Solutions Forging Sales, Revenue and Gross Margin (2019-2024)
6.16.4 Sypris Solutions Forging Product Portfolio
6.16.5 Sypris Solutions Recent Developments
6.17 Ashok Leyland
6.17.1 Ashok Leyland Comapny Information
6.17.2 Ashok Leyland Business Overview
6.17.3 Ashok Leyland Forging Sales, Revenue and Gross Margin (2019-2024)
6.17.4 Ashok Leyland Forging Product Portfolio
6.17.5 Ashok Leyland Recent Developments
6.18 Allegheny Technologies
6.18.1 Allegheny Technologies Comapny Information
6.18.2 Allegheny Technologies Business Overview
6.18.3 Allegheny Technologies Forging Sales, Revenue and Gross Margin (2019-2024)
6.18.4 Allegheny Technologies Forging Product Portfolio
6.18.5 Allegheny Technologies Recent Developments
6.19 VDM Metals
6.19.1 VDM Metals Comapny Information
6.19.2 VDM Metals Business Overview
6.19.3 VDM Metals Forging Sales, Revenue and Gross Margin (2019-2024)
6.19.4 VDM Metals Forging Product Portfolio
6.19.5 VDM Metals Recent Developments
6.20 CITIC Heavy Industries
6.20.1 CITIC Heavy Industries Comapny Information
6.20.2 CITIC Heavy Industries Business Overview
6.20.3 CITIC Heavy Industries Forging Sales, Revenue and Gross Margin (2019-2024)
6.20.4 CITIC Heavy Industries Forging Product Portfolio
6.20.5 CITIC Heavy Industries Recent Developments
7 North America by Country
7.1 North America Forging Sales by Country
7.1.1 North America Forging Sales Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
7.1.2 North America Forging Sales by Country (2019-2024)
7.1.3 North America Forging Sales Forecast by Country (2025-2030)
7.2 North America Forging Market Size by Country
7.2.1 North America Forging Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
7.2.2 North America Forging Market Size by Country (2019-2024)
7.2.3 North America Forging Market Size Forecast by Country (2025-2030)
8 Europe by Country
8.1 Europe Forging Sales by Country
8.1.1 Europe Forging Sales Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
8.1.2 Europe Forging Sales by Country (2019-2024)
8.1.3 Europe Forging Sales Forecast by Country (2025-2030)
8.2 Europe Forging Market Size by Country
8.2.1 Europe Forging Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
8.2.2 Europe Forging Market Size by Country (2019-2024)
8.2.3 Europe Forging Market Size Forecast by Country (2025-2030)
9 Asia-Pacific by Country
9.1 Asia-Pacific Forging Sales by Country
9.1.1 Asia-Pacific Forging Sales Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
9.1.2 Asia-Pacific Forging Sales by Country (2019-2024)
9.1.3 Asia-Pacific Forging Sales Forecast by Country (2025-2030)
9.2 Asia-Pacific Forging Market Size by Country
9.2.1 Asia-Pacific Forging Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
9.2.2 Asia-Pacific Forging Market Size by Country (2019-2024)
9.2.3 Asia-Pacific Forging Market Size Forecast by Country (2025-2030)
10 Latin America by Country
10.1 Latin America Forging Sales by Country
10.1.1 Latin America Forging Sales Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
10.1.2 Latin America Forging Sales by Country (2019-2024)
10.1.3 Latin America Forging Sales Forecast by Country (2025-2030)
10.2 Latin America Forging Market Size by Country
10.2.1 Latin America Forging Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
10.2.2 Latin America Forging Market Size by Country (2019-2024)
10.2.3 Latin America Forging Market Size Forecast by Country (2025-2030)
11 Middle East and Africa by Country
11.1 Middle East and Africa Forging Sales by Country
11.1.1 Middle East and Africa Forging Sales Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
11.1.2 Middle East and Africa Forging Sales by Country (2019-2024)
11.1.3 Middle East and Africa Forging Sales Forecast by Country (2025-2030)
11.2 Middle East and Africa Forging Market Size by Country
11.2.1 Middle East and Africa Forging Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
11.2.2 Middle East and Africa Forging Market Size by Country (2019-2024)
11.2.3 Middle East and Africa Forging Market Size Forecast by Country (2025-2030)
12 Value Chain and Sales Channels Analysis
12.1 Forging Value Chain Analysis
12.1.1 Forging Key Raw Materials
12.1.2 Key Raw Materials Price
12.1.3 Raw Materials Key Suppliers
12.1.4 Manufacturing Cost Structure
12.1.5 Forging Production Mode & Process
12.2 Forging Sales Channels Analysis
12.2.1 Direct Comparison with Distribution Share
12.2.2 Forging Distributors
12.2.3 Forging Customers
13 Concluding Insights
14 Appendix
14.1 Reasons for Doing This Study
14.2 Research Methodology
14.3 Research Process
14.4 Authors List of This Report
14.5 Data Source
14.5.1 Secondary Sources
14.5.2 Primary Sources
14.6 Disclaimer

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