Report overview
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.
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. This report contains market size and forecasts of Forging in global, including the following market information:
Global Forging Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Forging Market Sales, 2018-2023, 2024-2029, (K MT)
Global top five Forging companies in 2022 (%)
The global Forging market was valued at US$ 84370 million in 2022 and is projected to reach US$ 119290 million by 2029, at a CAGR of 5.1% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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.
We surveyed the Forging manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Forging Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Forging Market Segment Percentages, by Type, 2022 (%)
Closed Die Forgings
Open Die Forgings
Rolled Rings Forgings
Global Forging Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Forging Market Segment Percentages, by Application, 2022 (%)
Automotive
Aerospace
Agricultural
General Industrial
Other
Global Forging Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Forging Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Forging revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Forging revenues share in global market, 2022 (%)
Key companies Forging sales in global market, 2018-2023 (Estimated), (K MT)
Key companies Forging sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players 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
Outline of Major Chapters:
Chapter 1: Introduces the definition of Forging, market overview.
Chapter 2: Global Forging market size in revenue and volume.
Chapter 3: Detailed analysis of Forging manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Forging in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: 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 8: Global Forging capacity by region & country.
Chapter 9: 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 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
