Forged And Stamped Goods Global Market Report 2022

Forged And Stamped Goods Global Market Report 2022

  • May 2022 •
  • 300 pages •
  • Report ID: 6282170 •
  • Format: PDF
Major companies in the forged and stamped market include ArcelorMittal S.A, Berkshire Hathaway Inc., Thyssenkrupp AG, American Axle & Manufacturing Inc, Kobe Steel Ltd., Bharat Forge Limited, Illinois Tool Works Inc, Fine Sinter Co. Ltd, CITIC Heavy Industries Co.Ltd, and Allegheny Technologies Incorporated.

The global forged and stamped goods market is expected to grow from $260.2 billion in 2021 to $286.09 billion in 2022 at a compound annual growth rate (CAGR) of 10.0%. The market is expected to grow to $400.1 billion in 2026 at a CAGR of 8.7%.

The forged and stamped market consists of sales of forged and stamped metal goods by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing forgings from purchased metals, manufacturing metal custom roll forming products, manufacturing metal custom roll forming products, manufacturing metal stamped and spun products, and manufacturing powder metallurgy products.

The main types of forged and stamped goods are iron and steel forged goods, nonferrous forged goods, custom roll formed goods, powder metallurgy parts, metal crown, closure, and other metal stamped goods.Iron and steel forged goods obtain from the alloying of iron and carbon at high pressures.

These are used in automotive, construction, food & beverage packaging, machinery, metal products, and other end users.

The Asia Pacific was the largest region in the forged and stamped goods market in 2021.Western Europe was the second-largest region in the forged and stamped goods market.

The regions covered in the forged and stamped report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Expected growth in the demand for aircraft manufacturing supported by the growing demand for international and domestic air travel and rising government defence budgets are expected to drive the demand for forged and stamped goods. According to TBRC estimates, the sales of aerospace machinery will grow at 10.15% a year during 2018-2022 supported by the growing demand from the tourism industry. Simultaneously, many countries are increasing their defence budgets to improve their abilities to respond to international crises and are including technologically advanced equipment across categories such as ammunition, aircraft, and helicopters to be prepared for an emergency. For example, the US Senate has voted and allocated $715 billion as the defence budget for 2019, an $82 billion increase from the defence budget. An increase in defence budgets and production numbers of commercial aircraft will drive the demand for forged metal components in the forecast period, driving the overall forged and stamped goods market.

The increasing share of electric vehicles in the automobiles market due to the increasing demand for electric passenger vehicles is expected to restrain the forged and stamped goods market, particularly as the automobile manufacturing market is the largest end-use market for the forged and stamped goods manufacturers. Electric vehicles comprise simple architectural parts such as engines used in an electric vehicle that are much simpler than those used in motor vehicles. 60% of forging units are involved in the manufacturing of engine and transmission-related auto components. Internal combustion engines of automobiles contain 2000 moving parts which are reduced to 20 parts in the electrical vehicles, decreasing the demand for forged and stamped goods. So, for instance, the emergence of electrical vehicles is expected to reduce the demand for auto forged and stamped goods by 40%-50% in India by 2030.

Metal forgers are increasingly incorporating additive manufacturing technologies to offer customized designs to customers. 3D technology is being used in forging for balancing customization and personalization with efficiency and waste reduction. The 3D forging technology offers advantages, such as the preparation of complicated shapes and designs and negligible material loss. Companies using additive/3D manufacturing technology include Alcoa and Bharat Forge.

The countries in the forged and stamped market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam.