North America Metal Forging Market Size & Outlook
North America metal forging market, 2018-2030 (US$M)
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North America metal forging market highlights
- The North America metal forging market generated a revenue of USD 20,447.5 million in 2023.
- The market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, carbon steel was the largest revenue generating raw material in 2023.
- Stainless Steel is the most lucrative raw material segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 20,447.5 million |
| Market revenue in 2030 | USD 33,715.3 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Carbon steel |
| Fastest growing segment | Stainless Steel |
| 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, North America region accounted for 23.3% 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.
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Metal Forging Market Scope
Metal Forging Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America 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 39.94% in 2023. Horizon Databook has segmented the North America 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.
Agriculture equipment industry in North America is robust in nature. There are over 1,000 equipment manufacturers in North America that cater advanced products such as tractors & harvesters to fiber, food, livestock, and fuel stock industries around the globe.
Despite weakening prices and intense global competition, North America has enjoyed a surplus of agriculture equipment in the recent past. As per the International Trade Administration, sales of agriculture equipment from the U.S. declined in 2017-18.
Key factors responsible for this decline include low-interest rate in the European countries, low commodity prices, and weak local currency compared to the U.S. Agriculture equipment sector requires numerous amount of forged parts.
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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 North America metal forging market , including forecasts for subscribers. This continent databook contains high-level insights into North America metal forging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America metal forging market size, by country, 2018-2030 (US$M)
North America Metal Forging Market Outlook Share, 2023 & 2030 (US$M)
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