Global Forging Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Forging Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

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 our (Global Info Research) latest study, the global Forging market size was valued at US$ 89230 million in 2023 and is forecast to a readjusted size of USD 126540 million by 2030 with a CAGR of 5.2% during review period.

Global Forging key players include Precision Castparts Corp, Arconic, Thyssenkrupp, KOBELCO, Nippon Steel & Sumitomo Metal, etc. Global top five manufacturers hold a share about 15%. China is the largest market, with a share about 30%, followed by Europe, with a share about 25 percent. In terms of product, Closed Die Forgings is the largest segment, with a share about 80%. And in terms of application, the largest application is Automotive, followed by General Industrial, Aerospace, Agricultural, etc.

This report is a detailed and comprehensive analysis for global Forging market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided.

Key Features:

Global Forging market size and forecasts, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2019-2030

Global Forging market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2019-2030

Global Forging market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/MT), 2019-2030

Global Forging market shares of main players, shipments in revenue ($ Million), sales quantity (K MT), and ASP (USD/MT), 2019-2024

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Forging

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Forging market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge, KOBELCO, WanXiang, FAW, Arconic, Mahindra Forgings Europe, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Forging market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Closed Die Forgings
Open Die Forgings
Rolled Rings Forgings

Market segment by Application
Automotive
Aerospace
Agricultural
General Industrial
Other

Major players covered
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

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Forging product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Forging, with price, sales quantity, revenue, and global market share of Forging from 2019 to 2024.

Chapter 3, the Forging competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Forging breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2019 to 2024.and Forging market forecast, by regions, by Type, and by Application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Forging.

Chapter 14 and 15, to describe Forging sales channel, distributors, customers, research findings and conclusion.