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The expansion of the construction industry is projected to drive the growth of the metal forging market in the future.

The global metal forging market size is expected to grow from $87.88 billion in 2022 to $94.74 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The global metal forging market size is expected to reach $123.11 billion in 2027 at a CAGR of 6.7%.

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Global Metal Forging Market Segments Include:

• By Type: Closed-Die Forging, Open-Die Forging, Ring Rolling
• By Raw Material: Carbon Steel, Alloy Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Other Raw Materials
• By End-User: Automotive, Defense And Aerospace, Shipbuilding, Power Industry, Oil And Gas, Other End User
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global metal forging market in 2021.

Major Market Players in the metal forging market include Arconic Corporation, Allegheny Technologies Incorporated (ATI), Bharat Forge Ltd., Ellwood Group Inc., China First Heavy Industries, Thyssenkrupp.

Automation in forging systems is a major topic that is gaining traction in the metal forging sector. To maintain their market position, major market players are focusing their efforts on developing innovative products using automated processing equipment such as induction forging, computer-controlled forging equipment, automatic control, and remote control of free forging hammers. Strojmetal, a Czech Republic-based maker of aluminium chassis parts and applications in the powertrain and battery housing sectors, for example, completed a fully automated aluminium forging plant in January 2023. The new line is outfitted with cutting-edge technologies such as a completely automated loading and unloading system, part handling and transfer robots, and an innovative control system that allows for real-time monitoring and optimisation of the forging process.

The Metal Forging Global Market Report 2023  provides a metal forging market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The metal forging market forecast analyzes metal forging market size, metal forging market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Metal forging is the employment of compressive forces in the shaping and forming of metals. To use forces to make various metal parts, hammering, pushing, or rolling are used.

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