Acording to Fortune Business Insights the India metal forging market size was valued at USD 4.43 billion in 2022 and is expected to grow from USD 5.08 billion in 2023 to USD 9.75 billion by 2030, exhibiting a CAGR of 9.8% during the forecast period. The India metal forging market is experiencing robust growth driven by rising demand from the automotive, aerospace, defense, and construction sectors. Forging, a manufacturing process involving the shaping of metal using localized compressive forces, is a critical component in producing high-strength and durable metal parts.
Forging is a metal forming process that uses compressive forces like hammering, rolling, or pressing to shape materials under controlled conditions. Evolving with advanced techniques, it produces high-strength components from materials such as alloy steel, stainless steel, and aluminum alloys in various shapes, sizes, and finishes.
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India Metal Forging Market Segmentation:
By Material:
The market is segmented into carbon steel, alloy steel, stainless steel, aluminum, magnesium, titanium, and others. Carbon steel dominates the market due to its strength, machinability, cost-effectiveness, and widespread use in automotive parts like crankshafts and control arms.
By Technique:
Divided into closed die, open die, and ring forging. Closed die forging leads the segment, driven by its precision, consistency, and suitability for complex components requiring tight tolerances.
By Installation Capacity:
Segmented into small (100–12,500 MT), medium (12,500–30,000 MT), and heavy (above 30,000 MT). Small capacity units hold the largest share, widely used for producing automotive parts such as yoke ends and connecting rods.
Competitive Landscape:
The India metal forging market is moderately fragmented with a mix of large players and numerous small and medium enterprises (SMEs). Key players focus on expanding capacity, technology adoption, and overseas expansion.
List of the Key Players in the India Metal Forging Market: