India Metal Forging Market Size & Outlook, 2023-2030
India metal forging market, 2018-2030 (US$M)
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India metal forging market highlights
- The India metal forging market generated a revenue of USD 10,243.6 million in 2023 and is expected to reach USD 17,920.9 million by 2030.
- The India market is expected to grow at a CAGR of 8.3% from 2024 to 2030.
- In terms of segment, carbon steel was the largest revenue generating raw material in 2023.
- Titanium is the most lucrative raw material segment registering the fastest growth during the forecast period.
Metal forging market data book summary
| Market revenue in 2023 | USD 10,243.6 million |
| Market revenue in 2030 | USD 17,920.9 million |
| Growth rate | 8.3% (CAGR from 2023 to 2030) |
| Largest segment | Carbon steel |
| Fastest growing segment | Titanium |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Other Products |
| Key market players worldwide | ATI Inc, Green Brick Partners Inc, John Wood Group Plc, Nippon Steel Corp, Berkshire Hathaway Inc Class A, Larsen & Toubro Ltd DR |
Other key industry trends
- In terms of revenue, India accounted for 11.7% of the global metal forging market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China metal forging market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 46,012.6 million by 2030.
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Metal Forging Market Scope
Metal Forging Market Companies
| Name | Profile | # Employees | HQ | Website |
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India metal 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 metal forging market will help companies and investors design strategic landscapes.
Carbon steel was the largest segment with a revenue share of 47.84% in 2023. Horizon Databook has segmented the India metal forging market based on carbon steel, alloy steel, aluminum, magnesium, stainless steel, titanium, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Metal forgings industry is a key contributor to the Indian economy. As per the Association of Indian Forging Industry, metal forgings industry had 38.5 lakh metric tons of installed capacity as of 2016-17, while total production in the same year accounted for 23.9 lakh metric tons.
Hot closed die forging accounted for the highest share of 63% in 2016-17, followed by open die, cold closed die, ring rolling, and others. The country exported around 25% of its metal forged products in 2016-17.
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Target buyers of India metal forging market databook
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Our clientele includes a mix of metal forging market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India metal forging market , including forecasts for subscribers. This country databook contains high-level insights into India metal forging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India metal forging market size, by raw material, 2018-2030 (US$M)
India Metal Forging Market Outlook Share, 2023 & 2030 (US$M)
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