U.S. Aluminum Forging Market Size & Outlook, 2022-2030
U.S. aluminum forging market, 2018-2030 (US$M)
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U.S. aluminum forging market highlights
- The U.S. aluminum forging market generated a revenue of USD 2,887.0 million in 2022 and is expected to reach USD 4,743.0 million by 2030.
- The U.S. market is expected to grow at a CAGR of 6.4% from 2023 to 2030.
- In terms of segment, closed die forging was the largest revenue generating product in 2022.
- Closed Die Forging is the most lucrative product segment registering the fastest growth during the forecast period.
Aluminum forging market data book summary
| Market revenue in 2022 | USD 2,887.0 million |
| Market revenue in 2030 | USD 4,743.0 million |
| Growth rate | 6.4% (CAGR from 2022 to 2030) |
| Largest segment | Closed die forging |
| Fastest growing segment | Closed Die Forging |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Die Forging, Closed Die Forging, Ring Rolled Forging |
| Key market players worldwide | Arconic, Alcoa Corp, ATI Inc, Aluminum Precision Products, American Handforge, Farinia Group, Forginal Industrie |
Other key industry trends
- In terms of revenue, U.S. accounted for 13.6% of the global aluminum forging market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. aluminum forging market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 4,743.0 million by 2030.
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Aluminum Forging Market Scope
Aluminum Forging Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. aluminum forging market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aluminum forging market will help companies and investors design strategic landscapes.
Closed die forging was the largest segment with a revenue share of 74.1% in 2022. Horizon Databook has segmented the U.S. aluminum forging market based on open die forging, closed die forging, ring rolled forging covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is a prominent producer and consumer of aluminum forged products in North America. It was one of the hardest-hit countries by the COVID-19 pandemic in the world in 2020 owing to the halting of manufacturing activities in the country. This negatively impacted the demand for aluminum forged components in the U.S. in the same year.
The aerospace industry, which are the vital end users of aluminum forged components in the U.S., were severely impacted by the pandemic in 2020. This resulted in lowered demand for these components. The COVID-19 spread in 2020 led to the halting of manufacturing operations in the U.S.
However, according to the International Energy Agency (IEA), the global aviation industry bounced back to its pre-COVID-19 peak in 2021. As air transportation has become a popular mode of transportation in the world, it has resulted in an increased number of U.S. air passengers.
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Our clientele includes a mix of aluminum forging market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. aluminum forging market , including forecasts for subscribers. This country databook contains high-level insights into U.S. aluminum forging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. aluminum forging market size, by product, 2018-2030 (US$M)
U.S. Aluminum Forging Market Outlook Share, 2022 & 2030 (US$M)
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