The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Market Overview

The forged and stamped goods market has witnessed substantial growth in recent years, reaching $297.32 billion in 2023 and projecting a rise to $314.56 billion in 2024, with a CAGR of 5.8%. This growth is attributed to various factors in the historic period, including industrial growth, raw material prices, technological advancements, and environmental regulations.

Forecasted Growth and Influencing Factors

Anticipating continued strength, the market is expected to surge to $384.83 billion by 2028, showcasing a CAGR of 5.2%. The driving forces in the forecast period include infrastructure development, the automotive industry, aerospace and defense, and renewable energy. Notable trends encompass electrification and lightweighting, advanced materials, additive manufacturing, digitalization, and connectivity, along with collaboration and partnerships.

Impact of the Growing Construction Industry

The burgeoning construction industry plays a pivotal role in propelling the forged and stamped goods market forward. This sector involves diverse facets such as planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. The demand for forged and stamped components, such as beams, columns, brackets, and fasteners, is fueled by construction projects, both residential and commercial. A noteworthy example is the UK, where the construction sector experienced a record 12.7% growth in 2021 compared to the previous year. This robust growth is steering the forged and stamped goods market in a positive direction.

Key Players in the Market

Major companies driving the forged and stamped goods market include ArcelorMittal S.A., Berkshire Hathaway Inc., Thyssenkrupp AG, American Axle & Manufacturing Inc., Kobe Steel Ltd., and many others. The market’s landscape is diverse, with companies contributing to the industry’s growth and innovation.

Read The Full Forged And Stamped Goods Market Report Here:

https://www.thebusinessresearchcompany.com/report/forged-and-stamped-goods-global-market-report

Innovations Driving Revenue

Major players in the forged and stamped goods market are investing in product development to expand their customer base and boost revenues. One notable innovation is the introduction of metal stamping simulation software. Ansys, a US-based software company, launched Ansys Forming, an all-in-one forming simulation software, enabling metal formers to digitally plan and validate each stage of the sheet metal forming process. This software’s unique features include simulating every step of metal stamping, reducing the number of components used during simulation, and accelerating solve times with intelligent adaptivity features. Such innovations are crucial in meeting the evolving needs of the market.

Market Segmentation

The forged and stamped goods market is segmented based on type and end-user industry:

Types:

• Iron and Steel Forged Goods
• Nonferrous Forged Goods
• Custom Roll Formed Goods
• Powder Metallurgy Parts
• Metal Crown, Closure, and Other Metal Stamped Goods

End User Industry:

• Automotive
• Construction
• Food and Beverage Packaging
• Machinery
• Metal Products
• Other End User Industries

Regional Dominance

As of 2023, the Asia-Pacific region emerged as the largest market for forged and stamped goods, underscoring the global nature of this industry. This region’s dominance reflects the increasing demand and strategic positioning of key players.

Get A Free Sample On The Global Forged And Stamped Goods Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=3572&type=smp

The Forged And Stamped Goods Global Market Report 2023  provides an overview of the forged and stamped goods market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The forged and stamped goods market forecast analyzes forged and stamped goods market size, forged and stamped goods market share, leading competitor and their market positions.

Explore Similar Reports From The Business Research Company:

Metal Products Global Market Report 2023

Warehousing And Storage Global Market Report 2023

Consumer Goods And General Rental Centers Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: