Metal Forging Market Report 2026

The metal forging market size has grown strongly in recent years. It will grow from $107 billion in 2025 to $115.34 billion in 2026 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growth of automotive production, expansion of oil and gas infrastructure, demand for heavy industrial machinery, increased use of forged steel components, growth of shipbuilding activities.

The metal forging market size is expected to see strong growth in the next few years. It will grow to $154.16 billion in 2030 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to rise in electric vehicle manufacturing, growing defense and aerospace investments, increasing demand for lightweight aluminum and titanium forgings, expansion of power generation projects, adoption of advanced forging presses and automation. Major trends in the forecast period include rising demand for high-strength forged components, growing adoption of closed-die and precision forging, increasing use of lightweight alloy forgings, expansion of ring rolling applications in heavy industries, rising focus on quality and defect-free forged parts.

The growth of the construction industry is expected to drive the expansion of the metal forging market in the future. Construction involves building, modifying, repairing, remodeling, enhancing, or demolishing public infrastructure facilities, including public structures and improvements to real estate. The construction industry relies heavily on forged metal products, such as steel beams, columns, and other structural components, which are crucial for creating strong and durable structures that can withstand environmental conditions and meet safety standards. For instance, a report from The Office for National Statistics in November 2023 indicated that total new construction work output increased by 15.8% in 2022, reaching a record value of £132.98 billion ($172,401 million). Thus, the rise in the construction industry is fueling the growth of the metal forging market.

Major companies in the metal forging market are concentrating on the development of advanced lubricants, including non-pigmented forging lubricants, to support sustainable automotive manufacturing. Non-pigmented forging lubricants are lubricating materials used in metal forging operations that do not include pigments or color additives. For example, in April 2023, Henkel, a Germany-based provider of functional coating solutions, introduced Bonderite L-FG F 605, a graphite-free, non-pigmented forging lubricant developed for automotive components such as bearings, wheel hubs, gears, and slip yokes. This synthetic lubricant improves die life by minimizing metal-to-metal contact while delivering performance comparable to graphite. By eliminating graphite from its formulation, the lubricant prevents ammonia emissions, contributing to a safer and more sustainable working environment. Additionally, enhanced die life and stability at high dilution levels help reduce replacement frequency and overall forging costs.

In August 2023, Mutares SE & Co. KGaA, a Germany-based private equity and industrial investment firm, acquired the forging business of CIE Automotive S.A. for an undisclosed consideration. With this transaction, Mutares seeks to strengthen its metal forging capabilities by incorporating CIE Automotive’s specialized forging and machining activities and broadening its portfolio of forged components for the automotive sector. CIE Automotive S.A. is a Spain-based automotive components manufacturer specializing in the production of forged and machined metal parts.

Major companies operating in the metal forging market report are Bharat Forge Ltd., Precision Castparts Corp., Howmet Aerospace Inc., Otto Fuchs KG, Scot Forge Company, Ellwood Group Inc., ATI Ladish LLC, Nippon Steel Corporation, Thyssenkrupp AG, Doncasters Group Ltd., China First Heavy Industries Co. Ltd., Japan Casting and Forging Corporation, Allegheny Technologies Incorporated, Bruck GmbH, Jiangyin Hengrun Heavy Industries Co. Ltd., Patriot Forge Co., Ferralloy Inc., Canton Drop Forge Inc., Pacific Forge Incorporated, Trenton Forging Company.

Asia-Pacific was the largest region in the metal forging market in 2025. The regions covered in the metal forging market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal forging market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The metal forging market includes revenues earned by entities by providing upset forging, swaging, press forging, and orbital forging services for metal products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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