North America Cold Forming and Cold Heading Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Aluminum, Alloy Steel, Stainless Steel, and Others) and Industry (Aerospace and Defense, Automotive, Industrial Equipment and Machin

North America Cold Forming and Cold Heading Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Aluminum, Alloy Steel, Stainless Steel, and Others) and Industry (Aerospace and Defense, Automotive, Industrial Equipment and Machinery, and Others)   

The cold forming and cold heading in North America is expected to grow from US$ 3,706.83 million in 2022 to US$ 5,138.49 million by 2028. It is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
Growing Demand Cold Forming and Cold Heading in Aerospace Industry
Professional cold heading machines, which support automated yarn rolling mills at all plants in the fastener industry, are widely used in the aircraft manufacturing process due to their ability to secure critical structural components and high tensile strength. With the demand for fuel-efficient and lightweight aircraft, there is a significant demand for lightweight, high-performance fasteners. Increasing demand for convenient, cost-effective, fast travel solutions and the rise in international air travel are a few of the fundamental factors supporting the growth of industrial fasteners in the aerospace industry. Increasing air traffic in North America is constantly boosting the market growth. Moreover, according to Select USA, North America's growing aircraft modernization program totals ~US$ 22 billion in foreign direct investment (FDI) in the US aerospace industry. Moreover, R&D innovations in the aerospace sector are driving the cold forming and cold heading market. Thus, growing demand of cold forming and cold heading in aerospace industry will drive the demand for cold forming and cold heading market.

Market Overview

Based on country, the North America cold forming and cold heading market is segmented into the US, Canada, and Mexico. North American countries such as the US and Canada have a presence of numerous aircraft & defense equipment, industrial equipment, and automotive manufacturers. A few of the major aerospace & defense players operating in the North American market include Boring, Lockheed Martin, General Atomics, and Textron Aviation. The increasing aircraft manufacturing initiatives by these companies are influencing the rise in demand for cold forming and cold heading solutions from the aerospace & defense sector. For instance, according to the Airbus GMF 2022 report, Airbus is expected to deliver a total of 6,990 aircraft in North America by 2041, out of which 82% will be single-aisle aircraft and 18% will be widebody aircraft. Thus, the rising aircraft manufacturing is expected to contribute to the North America cold forming and cold heading market growth over the forecast period. North America has the presence of several automotive manufacturers who are aggressively engaged in the manufacturing of advanced automobiles such as self-driven cars and electric vehicles. Increasing government initiatives to promote the production of EVs are further promoting automotive manufacturing activities across the region. For instance, the US federal government has announced an investment of US$ 3 billion for promoting the production of EVs and its batteries across the US. This investment is announced to achieve 50% of its auto sales from EVs by 2030 to reduce the country's carbon footprint across the region. Additionally, the rising investment by automobile manufacturers across the country to expand their product line and manufacturing base across the region is expected to contribute to the rise in the volume of vehicles manufactured in the region which will further increase the demand for various automobile components such as fasteners and valves. These factors are boosting the North America cold forming and cold heading market growth.
North America Cold Forming and Cold Heading Market Revenue and Forecast to 2028 (US$ Million)

North America Cold Forming and Cold Heading Market Segmentation

The North America cold forming and cold heading market is segmented into material, industry, and country.
Based on material, the North America cold forming and cold heading market is segmented into aluminum, alloy steel, stainless steel, and others. The alloy steel segment registered the largest market share in 2022.
Based on industry, the North America cold forming and cold heading market is segmented into aerospace and defense, automotive, industrial equipment and machinery, and others. The automotive segment held the largest market share in 2022.
Based on country, the North America cold forming and cold heading market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Altra Industrial Motion Corp; Bharat Forge; Buchanan Metal Forming Inc; Cold Heading Company; Cold-Flow Corporation; Deringer-Ney Inc; Fukui Byora Co., Ltd.; KALYANI FORGE; and STANLEY are the leading companies operating in the North America cold forming and cold heading market.

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