"Innovative Market Solutions to Help Businesses Make Informed Decisions"

U.S. Metal Forging Market Size, Share & COVID Impact Analysis, By Raw Material (Carbon Steel, Alloy Steel, Stainless Steel, Aluminum, Magnesium, Titanium, and Others), By Technology (Closed Die, Open Die, and Others) By End-user (Automotive, Mechanical Equipment, Aerospace & Railways, and Others), and Country Forecast, 2023-2030

Last Updated: June 03, 2024 | Format: PDF | Report ID: FBI108849



Play Audio Listen to Audio Version

The U.S. metal forging market size was worth USD 7.75 billion in 2022 and is projected to grow at a CAGR of 6.1% during the forecast period.

Forging involves shaping metals through hammering, pressing, or rolling, using compressive forces delivered by a die or hammer. Commonly used metals in forging include carbon steel, alloy steel, stainless steel, and softer metals such as brass, aluminum, and copper. This process yields components with exceptional mechanical properties while minimizing waste. The growth of the market is driven by increased demand for forged materials across various industries. The aerospace and defense sectors, in particular, are witnessing rising demand for forged metals, contributing significantly to market expansion.

However, the U.S. metal forging market faced challenges during the COVID-19 pandemic. Global forging sectors experienced issues such as raw material shortages, logistical hurdles, workforce shortages, and uncertainties leading to the suspension or closure of manufacturing facilities. These challenges resulted in limited options, higher material prices, and delayed project timelines for stakeholders in the forging sector.

U.S. Metal Forging Market Trends

Adoption of Computer-Aided Engineering (CAE) is a Current Trend Driving Market Growth

The use of computer-aided engineering (CAE) has emerged as a prominent trend in the manufacturing industry due to its efficiency and reliability. CAE is a fast and cost-effective method for die forging manufacturing, resulting in low rejection rates, high accuracy, and improved production quality. Finite Element Methods (FEM) simulation software have become integral to the forging process, enabling the design and analysis of temperature, metal flow, and strain types before conducting forging trials.

CAE serves as a robust tool for enhancing process design. It enables the modification of forming imperfections during forging, aids in tool life development, and predicts dimensional and microstructural changes during heat treatment post-forging.

U.S. Metal Forging Market Growth Factors

Rising Demand from Automotive Manufacturing to Boost Market Growth

Forged metal components are utilized in various leading automotive brands, including BMW, Audi, Fiat, DaimlerChrysler, Ford/Volvo, and General Motors/Saab. For instance, steel billets undergo processing to create diverse shapes tailored to new vehicle models entering the market. Steel stands as the primary metal used for manufacturing these components. Billets are cut into necessary pieces, heated to required temperatures, and forged into desired shapes. These characteristics render forged steel an ideal material for resource-conserving automotive production.

Furthermore, factors such as the ongoing 'Next Generation Vehicle' project, advancements in automotive technology, and increasing innovation in electric vehicles contribute to the adoption of these components. Thus, the escalating demand for forged metal among automobile manufacturers is expected to propel market growth.


Adoption of Metal Casting to Hinder Market Growth

Metal casting is generally less expensive than forging, presenting itself as the more cost-effective and versatile option. However, choosing between casting and forging involves complex considerations as the optimal choice may not always align with overall business functionality.

Casting finds wide commercial application in manufacturing complex components, offering high-quality products at an effective price and produced at a rapid rate. Methods such as investment casting, centrifugal casting, and die casting, which mold materials under high pressure, add to its versatility for manufacturers. These aspects are anticipated to restrain the U.S. market growth.

U.S. Metal Forging Market Segmentation Analysis

By Raw Material Analysis

Based on raw material, the market is segmented into carbon steel, alloy steel, stainless steel, aluminum, magnesium, titanium, and others.

The carbon steel segment accounted for a significant U.S. metal forging market share in 2022 and is anticipated to continue its dominance during the forecast period. Carbon steel is a widely used alloy in manufacturing extremely hard components such as blades, cutting tools, large machine parts, hot water radiators, industrial castings, and metal lamp posts.

The stainless steel segment is anticipated to be the fastest-growing during the forecast period. Stainless steel possesses various anti-corrosion properties, such as rust resistance and non-corrosive nature. Due to its low maintenance requirements, stainless steel finds extensive adoption across various industries, including automotive, aerospace, manufacturing, and others.

By Technology Analysis

Based on technology, the market is segmented into closed die, open die, and others.

The closed die segment held the largest market share in 2022. The high demand for components manufactured using closed die technology is the prime reason driving the segment’s growth. Closed die forging produces near-net shapes, saving time and money required for further machining work. Manufacturers prefer closed die forging due to its economic advantages.

The open-die segment is expected to be the fastest-growing segment by 2030. Its ability to forge extremely large workpieces, weighing several tons and having large widths and lengths, is valuable in machinery and component manufacturing. Hence, the increasing adoption of this technology is expected to drive segment growth.

By End-user Analysis

By end-user, the market is classified into automotive, mechanical equipment, aerospace & railways, and others.

The automotive segment held the largest market share in 2022 and is estimated to be the fastest-growing segment during the forecast period. The increasing use of aluminum, steel, and other metals for manufacturing automobile components is driving segment growth. Growing demand for materials with high strength-to-weight ratios and structural dependability is further influencing performance and driving the segment’s growth.

For instance, according to The European Automobile Manufacturers' Association (ACEA), North America produced 14,901 thousand units of vehicles in 2022, standing as the third-largest producer after China and Europe.


In terms of the competitive landscape, the market features established and emerging metal forging companies, including Consolidated Industries, Pacific Forge Incorporated, Weber Metals California, Wyman Gordon, and others. Industry players compete mainly based on product prices and application characteristics. Companies are emphasizing product innovation, social marketing, acquisitions, and collaborations.


  • Wyman Gordon (U.S.)

  • Shultz Steel (U.S.)

  • Consolidated Industries, Inc. (U.S.)

  • Pacific Forge Incorporated (U.S.)

  • Weber Metals California (U.S.)

  • ATI Ladish LLC (U.S.)

  • Arconic Corporation (U.S.)

  • Alcoa Corporation (U.S.)


  • June 2019: Allegheny Technologies Incorporated (ATI) has announced its decision to sell HPMC's non-core traditional forging capacities, primarily catering to oil & gas, transportation, and mining methods, to Wynnchurch Capital, LLC for a cash value of USD 37 million. The main aim of this transaction is to shift focus toward nickel and titanium metals, primarily used in aerospace and defense markets.

  • November 2022: Arconic Corporation announced the sale of its 100% investment in Russian operations to Promishlennie Investitsii LLC, the parent holder of VSMPO-AVISMA Corporation, in a cash deal worth USD 230 million. This sale aims to reduce increased uncertainty due to geopolitical crises, supporting future returns to shareholders. 


An Infographic Representation of U.S. Metal Forging Market

To get information on various segments, share your queries with us

The study report examines key factors, such as companies, products, and applications. It also covers market trends and highlights noteworthy industry advancements. The study provides different variables that have contributed to the market growth in recent years. It includes the industry's historical data, the latest market dynamics, opportunities, and revenue growth estimates at the country, regional, and global levels.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 6.1% from 2023 to 2030


Value (USD Billion) Volume (Kiloton)


By Raw Material

  • Carbon Steel

  • Alloy Steel

  • Stainless Steel

  • Aluminum

  • Magnesium

  • Titanium

  • Others

By Technology

  • Closed Die

  • Open Die

  • Others

By End-user

  • Automotive

  • Mechanical Equipment

  • Aerospace & Railways

  • Others

Frequently Asked Questions

Fortune Business Insights says the U.S. market was worth USD 7.75 billion in 2022.

The market is expected to exhibit a CAGR of 6.1% during the forecast period (2023-2030).

By raw material, the carbon steel segment accounted for the largest market share.

Consolidated Industries, Pacific Forge Incorporated, Weber Metals California, and Wyman Gordon are the top players in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2030
  • 2022
  • 2019-2021
  • 70

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

LG Chem

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.