Forging Market
                     Forging Market Analysis, Top Companies, Demand, Price and Forecast to 2026
Market Overview
Forging refers to a process of shaping the material by applying compressive force manually; by 
forging machines or with the use of power hammers. Forging process can be carried out on 
materials in either cold or hot state. These forged parts include bolts, connecting rods, turbine 
shafts, crane hooks, hand tools, gears, and other components used in machine manufacturing. These
products offer toughness, strength, stress, and are reliable end-use industry such as automotive, 
mining, and aerospace and various other applications.
Forging activities find diverse use in many industries mainly in automotive, aerospace, and oil and 
gas industries which in turn boosting the forging market and is also anticipated to drive this market 
over the forecast period.
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Market Dynamics
The closed die forging segment (impression die forging) is the dominant segment in the global 
forging market and is anticipated have a continuous growth over the forecast period. This is due to 
its high dimensional accuracy and fine surface finishing. The aerospace and automotive industry are
the biggest end users of the closed die forging method.
The automotive segment is accounted to have the largest share in the global forging market. Low 
fuel rates and interest rates are the key factors driving the growth of automotive industry of the 
forging market. Similarly, custom forging is witnessed as the dominant segment amongst the order 
types owing to its immense use in submarines, refineries, space crafts, missiles, pressure vessels, 
offshore rigs, scientist research equipment, and some others.
Global Forging Market Taxonomy
On the basis of type, the global forging market is segmented as:
•Open Die Forging
•Closed Die Forging
•Seamless Forging
•Roll Forging
•Upset Forging
•Precision Die Forging
•Rotary Forging
•Others
On the basis of end-use industry, the global forging market is segmented as:
•Automotive
•Mining
•Construction
•Aerospace and Defense
•Agriculture
•Power
•Oil & Gas
•Others
Key players operating in the global forging market include Bharat Forge Limited., Alcoa, Precision 
Castparts, ATI Ladish Forging, HHI forging, American Axle & Manufacturing Holdings, Ellwood 
Group, FRISA, and Scot Forge.
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