Forging Market Size, Trends, Analysis, and Outlook By Product (Nickel-Based Alloys, Titanium Alloys, Aluminum Alloys, Steel Alloys, Others), By End-User (Automotive, Aerospace, Railway, Heavy Equipment, Wind Power), by Country, Segment, and Companies, 202

Forging Market Size, Trends, Analysis, and Outlook By Product (Nickel-Based Alloys, Titanium Alloys, Aluminum Alloys, Steel Alloys, Others), By End-User (Automotive, Aerospace, Railway, Heavy Equipment, Wind Power), by Country, Segment, and Companies, 2024-2030

The global Forging market size is poised to register a 7.6% growth from $87.4 Billion in 2024 to 135.6 Billion in 2030, presenting significant growth prospects for companies operating in the industry. The Forging market study analyzes the study across By Product (Nickel-Based Alloys, Titanium Alloys, Aluminum Alloys, Steel Alloys, Others), By End-User (Automotive, Aerospace, Railway, Heavy Equipment, Wind Power).

The forging market is projected to expand significantly in 2024, driven by the increasing demand for forged components in various industries, including automotive, aerospace, construction, and industrial machinery. Forging, a manufacturing process that involves shaping metal through compressive forces, produces high-strength and durable components. The market is benefiting from advancements in forging technologies that enhance precision, efficiency, and material utilization. The growing focus on lightweight and high-performance materials in critical applications, such as automotive and aerospace, is boosting the demand for forged components, propelling market growth.

Forging Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study delves into the latest trends and pressing challenges for industry players and investors. The Forging market research analyzes global market trends, key drivers, challenges, and opportunities. The "Future of Forging" survey report provides a market size outlook across types, applications, and other segments worldwide and by region. It offers data-driven insights and actionable recommendations for companies in the Forging industry.

Key market trends defining the global Forging demand in 2024 and Beyond

The industry remains an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play major roles.

Forging Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Forging industry comprises a wide range of segments and sub-segments. Rising demand for these product types and applications supports increased investments in niche segments. Leading companies plan to generate a large share of their future revenue growth from expanding into these niche segments. The report presents a market size outlook across segments, supporting Forging companies scaling up production in these sub-segments with a focus on emerging countries.

Key strategies adopted by companies within the Forging industry

Leading Forging companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Additionally, companies leverage advanced technologies to unlock opportunities and achieve operational excellence. The report details the key strategies adopted by the top 10 Forging companies.

Forging Market Study- Strategic Analysis Review

The Forging market research report dives deep into qualitative factors shaping the market, empowering you to make informed decisions. This includes:

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Forging Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Forging industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. With actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three scenarios: low case, reference case, and high case.

Forging Country Analysis and Revenue Outlook to 2030

The report analyzes 22 countries worldwide, including key driving forces and market size outlook from 2021 to 2030. Additionally, it includes region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America. For each region, the market size outlook by segments is forecast for 2030.

North America Forging Market Size Outlook- Companies plan for focused investments in a changing environment

The US remains the market leader in North America, driven by a large consumer base, well-established providers, and strong infrastructure. Leading companies focus on new product launches in a changing environment. The US GDP is expected to grow from $28,781.1 Billion in 2024 to $36,621 Billion in 2030, driving demand for various Forging market segments. Similarly, strong market demand encourages Canadian Forging companies to invest in niche segments. Mexico's investment in technological advancements positions it for significant market expansion.

Europe Forging Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Forging industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of vendors in identifying and leveraging new growth prospects positions the European Forging market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Forging Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust consumption expenditure, and increasing investments in infrastructure drive the demand for Forging in Asia Pacific. In particular, China, India, and South East Asian Forging markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational vendors seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major countries in the APAC region.

Latin America Forging Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Forging Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Forging market potential. Fueled by increasing consumption expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Forging.

Forging Market Company Profiles

The global Forging market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are Ajax Tocco Magnethermic Corp, Alicon Castalloy Ltd, All Metals and Forge Group, Allegheny Technologies Inc, Aluminum Precision Products, American Axle and Manufacturing Holdings Inc, Asahi Forge Corp, Bharat Forge Ltd, Bruck GmbH, Consolidated Industries Inc, Farinia SA, Fountaintown Forge Inc, Larsen and Toubro Ltd, Mitsubishi Steel Mfg. Co. Ltd, Pacific Forge Inc, Patriot Forge Co., Scot Forge Co., Sumitomo Heavy Industries Ltd, thyssenkrupp AG.

Recent Forging Market Developments

The global Forging market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Forging Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:
By Product

Closed die forging

Open die forging

Seamless rings

By Material
Nickel-Based Alloys

Titanium Alloys

Aluminum Alloys

Steel Alloys

Others
By End-User
Automotive

Aerospace

Railway

Heavy Equipment

Wind Power

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

Ajax Tocco Magnethermic Corp

Alicon Castalloy Ltd

All Metals and Forge Group

Allegheny Technologies Inc

Aluminum Precision Products

American Axle and Manufacturing Holdings Inc

Asahi Forge Corp

Bharat Forge Ltd

Bruck GmbH

Consolidated Industries Inc

Farinia SA

Fountaintown Forge Inc

Larsen and Toubro Ltd

Mitsubishi Steel Mfg. Co. Ltd

Pacific Forge Inc

Patriot Forge Co.

Scot Forge Co.

Sumitomo Heavy Industries Ltd

thyssenkrupp AG

Formats Available: Excel, PDF, and PPT