U.S. Metal Forging Market Size & Outlook, 2023-2030
U.S. metal forging market, 2018-2030 (US$M)
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U.S. metal forging market highlights
- The U.S. metal forging market generated a revenue of USD 12,738.1 million in 2023 and is expected to reach USD 21,289.1 million by 2030.
- The U.S. market is expected to grow at a CAGR of 7.6% 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.
Metal forging market data book summary
| Market revenue in 2023 | USD 12,738.1 million |
| Market revenue in 2030 | USD 21,289.1 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Carbon steel |
| Fastest growing segment | Stainless Steel |
| 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, U.S. accounted for 14.5% 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 North America, U.S. metal 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 21,289.1 million by 2030.
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Metal Forging Market Scope
Metal Forging Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 40.84% in 2023. Horizon Databook has segmented the U.S. 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.
The U.S. forging industry is one of the competitive industries globally. The industry is facing tough competition from other metal processing industries, which has prompted the industry players to improve production methods and reduce the costs. Most of the threat comes from foreign companies based in Korea, Germany, China, Russia, and India.
The development of construction sector in the U.S. is one of the factors contributing to the growth of metal forgings market. According to the U.S. an increase of 3.7% as compared to the previous year. In 2018, residential and non-residential construction spending witnessed a growth of 2.6% and 4.4%, respectively, as compared to the previous year.
The demand for construction equipment increases in line with construction activities. Construction equipment manufacturers procure different types of forged components in assemblies. Thus, the growth in construction sector is anticipated to drive the metal forgings market in the U.S. over the forecast period.
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Our clientele includes a mix of metal 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. metal forging market , including forecasts for subscribers. This country databook contains high-level insights into U.S. metal forging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. metal forging market size, by raw material, 2018-2030 (US$M)
U.S. Metal Forging Market Outlook Share, 2023 & 2030 (US$M)
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