Middle East & Africa Metal Forging Market Size & Outlook
Middle East & Africa metal forging market, 2018-2030 (US$M)
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MEA metal forging market highlights
- The MEA metal forging market generated a revenue of USD 1,929.7 million in 2023.
- The market is expected to grow at a CAGR of 4% 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.
- Country-wise, Gulf Cooperation Council is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 1,929.7 million |
| Market revenue in 2030 | USD 2,543.0 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Carbon steel |
| Fastest growing segment | Titanium |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 2.2% of the global metal forging market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 80,738.6 million by 2030.
Key Regions: U.S. , UK , Japan , Gulf Cooperation Council , Canada
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Metal Forging Market Scope
Metal Forging Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 45.55% in 2023. Horizon Databook has segmented the Middle East & Africa 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 market in the region is driven by the increasing use of forged components in automotive, industrial machinery, oil & gas, and construction applications. Growing automotive aftermarket and easy availability of raw materials (aluminum and steel) are likely to boost metal forgings market. The MEA region is the world leader in crude oil production.
Many major countries of the region are dependent on oil business, such as Saudi Arabia, Kuwait, Oman, Bahrain, Libya, Iraq, Angola, and Iran. Forged components are used in assemblies of rotary drilling machinery & equipment, field production, and drilling rigs.
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Target buyers of Middle East & Africa 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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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa metal forging market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa metal forging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA metal forging market size, by country, 2018-2030 (US$M)
Middle East & Africa Metal Forging Market Outlook Share, 2023 & 2030 (US$M)
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