Metal Forging Industry Overview

The global metal forging market was valued at USD 94.38 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2025 to 2030. Several factors are driving the market's expansion, particularly the increasing demand for lightweight and high-strength materials across various sectors such as automotive, aerospace, and construction. Industries are increasingly prioritizing materials that offer superior mechanical properties, and forged components have gained significant traction due to their enhanced performance compared to other alternatives like cast or machined parts. In sectors like automotive, there is a strong push towards improving fuel efficiency, where forged materials are seen as crucial to reducing weight and enhancing vehicle performance.

Furthermore, ongoing advancements in forging technologies are significantly contributing to market growth. Innovations like closed-die forging and precision forging are improving both production efficiency and product quality, allowing manufacturers to create components that meet stricter performance standards. These technologies enable greater accuracy, consistency, and minimized material waste, ensuring higher-quality end products while optimizing the manufacturing process. This, in turn, is driving increased investments by companies in modern forging equipment and processes to keep up with the evolving demands of industries.

Additionally, the growth in infrastructure development and construction projects worldwide is fueling the demand for forged products, particularly in structural applications. As both government and private entities focus on building and upgrading transportation networks, energy facilities, and housing projects, the need for durable, reliable forged components continues to rise. This ongoing boom in infrastructure development is expected to be a significant contributor to the market's growth in the coming years, as the demand for strong, long-lasting materials remains essential to these large-scale projects.

Gather more insights about the market drivers, restrains and growth of the Metal Forging Market

Regional Insights:

North America metal forging

North America metal forging market is expected to register a CAGR of 4.8%, in terms of volume, from 2025 to 2030. Significant investments in infrastructure development, driven by government initiatives and funding programs, are fueling demand for forged metal products in construction and public works of North America. Further, increasing investments in both traditional and renewable energy sectors are driving demand for forged components, including those used in power generation and transmission equipment.

U.S. Metal Forging Market Trends

The metal forging market in U.S. is anticipated registering a CAGR of 7.7% over the forecast period. The U.S. government’s focus on improving infrastructure, including roads, bridges, and public transportation systems, increases the demand for forged components used in heavy machinery, construction equipment, and structural applications. Public and private sector investments in renewable energy infrastructure, for example, wind turbines and solar panels are also expected to fuel the demand for forged parts over the coming years.

Asia Pacific Metal Forging Market Trends

Asia Pacific metal forging market dominated the region and accounted for a revenue share of 53.5% in 2024. Countries in the Asia Pacific, especially China, India, and Japan, are undergoing rapid industrialization and urbanization, increasing demand for forged metal products in infrastructure and industrial machinery. The construction of highways, bridges, and commercial buildings requires a significant volume of forged steel, aluminum, and iron components, including beams, girders, and other heavy-duty parts. Expansion in manufacturing sectors such as machinery and equipment also drive the demand for forged components in various industrial applications.

The metal forging market in China is anticipated to progress due to the growth of the aerospace and defense industries which are driving demand for high-quality forged components used in aircraft and military vehicles. China’s focus on self-reliance in aerospace manufacturing, through companies like COMAC and AVIC, is creating a substantial need for forged components in aircraft frames, engines, and landing gear.

Europe Metal Forging Market Trends

The metal forging market in Europe held a revenue share of over 19% in 2024. Growth in aerospace and defense sectors is encouraging manufacturers to expand their industry footprints. For instance, on January 15, Aubert & Duval ordered a hydraulic closed-die forging press from SMS group for its Pamiers site in France, aiming to enhance its position as a leading European metallurgy company in aerospace, energy, and defense, and to prepare for the next generation of aircraft.

Central & South America Metal Forging Market Trends

The market for metal forging in CSA is anticipated to register a CAGR of 4.9% over the forecast period. Growth in industrial machinery is boosting the demand for forged components, especially those made from aluminum. Further, government initiatives and private investments in infrastructure projects are driving demand for forged materials, particularly in countries like Colombia and Chile, where significant construction projects are underway.

Middle East & Africa Metal Forging Market Trends

The region holds the smallest share of the global market, however, growth in automotive industry is propelling the demand for forged products in the region. For instance, according to OICA, the vehicle production in South Africa rose by 14% in 2023, on a y-o-y basis.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global carbon steel market size was valued at USD 947.60 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030.
• The global electric vehicle market size was estimated at USD 1,070.77 billion in 2023 and is anticipated to grow at a CAGR of 33.6% from 2024 to 2030.

Key Metal Forging Company Insights

Some of the key players operating in the market include Aronic, ATI, Bharat Forge Ltd.

• Aronic is a prominent player in the global metal forging market, specializing in providing high-quality forged components and solutions to various industries, including automotive, aerospace, energy, and construction. Aronic has developed a comprehensive range of products that includes precision forged parts, custom forgings, and specialized components tailored to meet the unique needs of its clients. The company employs advanced forging technologies and manufacturing processes, ensuring that its products meet stringent quality standards and performance requirements.
• Allegheny Technologies Incorporated (ATI) is a leading global manufacturer of technically advanced specialty materials and complex components, primarily serving the aerospace, defense, oil and gas, and energy industries. The company offers a comprehensive range of products, including forged bars, discs, and shapes, which are engineered for demanding applications. ATI's forging capabilities enable the production of high-strength, lightweight components that meet stringent quality and performance standards.
• Bharat Forge operates across various sectors, including automotive, aerospace, defense, railways, and energy, providing a diverse range of forged products. The company's product offerings include critical components such as crankshafts, connecting rods, gears, chassis parts, and various specialty forged products. Bharat Forge's advanced manufacturing capabilities are supported by state-of-the-art technology, including computer numerical control (CNC) machines and automated forging lines.

Key Metal Forging Companies:

The following are the leading companies in the metal forging market. These companies collectively hold the largest market share and dictate industry trends.

• Bruck GmbH
• China First Heavy Machinery Co., Ltd.
• ELLWOOD Group, Inc.
• Jiangyin Hengrun Heavy Industries Co., Ltd.
• Nippon Steel Corp.
• Precision Castparts Corp.
• Larsen & Toubro Ltd.

Order a free sample PDF of the Metal Forging Market Intelligence Study, published by Grand View Research.