U.S. Metal Forging Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025

Description

U.S. Metal Forging Market Overview

The U.S. metal forging market was valued at USD 8.1 billion in 2024 and is set to grow at a CAGR of 6.5%, reaching USD 13.3 billion by 2032. This expansion is largely driven by the increasing demand for durable metallic components across industries such as automotive, aerospace, defense, and construction.

Government-backed infrastructure and defense initiatives are significant growth catalysts. For instance, the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act have collectively allocated over USD 1.7 trillion to revamp public infrastructure and support industrial growth. In tandem, the Department of Defense's METAL program is set to train over 122,000 skilled tradespeople by 2028, fortifying the domestic supply chain and boosting production capacity.

Technological strides in forging processes, such as closed-die and open-die methods, are enhancing production efficiency and output quality. The surge in electric vehicle (EV) manufacturing and the growth of renewable energy projects further amplify the demand for forged components, solidifying the industry's long-term prospects.

Key Insights

Carbon steel dominated the raw material segment in 2024 with a 70% share due to its cost-effectiveness, strength, and recyclability. It is extensively used in automotive, construction, and machinery applications.

Titanium is expected to grow at the highest CAGR during 2025-2032, driven by its increasing use in aerospace, defense, and medical industries owing to its high strength-to-weight ratio and corrosion resistance.

Closed-die forging held the largest technology market share at 60% in 2024. It remains the preferred method for mass-producing precise and complex parts for automotive and aerospace sectors.

Open-die forging is projected to register the highest growth rate, supported by the demand for large, customized components in infrastructure and renewable energy projects.

The automotive sector accounted for 65% of the end-use market in 2024, primarily due to the essential role of forged metal in critical components like crankshafts, transmissions, and chassis.

The oil & gas industry is set to grow the fastest, owing to increasing demand for durable, high-strength forged components used in drilling and pipeline operations.

Regionally, the Midwest led the U.S. market in 2024 with a 40% share, propelled by established manufacturing hubs in Michigan, Ohio, and Illinois. The region benefits from proximity to raw material suppliers and a skilled labor force.

The South is anticipated to witness the fastest regional growth due to expanding aerospace and automotive manufacturing, coupled with business-friendly policies and infrastructural development.

Technological advancements, such as the integration of CAD, CAM, and CAE tools, are transforming forging operations by improving accuracy, reducing errors, and enabling real-time control over processes.

AI-enhanced CAE platforms are optimizing quality and consistency in production, while 3D printing is revolutionizing the forging of complex, lightweight components for aerospace and automotive applications.

Competitive dynamics are shaped by key players like Precision Castparts Corp., Alcoa Corporation, Ellwood Group, and ATI Forgings, who dominate high-value sectors through long-term OEM contracts and advanced manufacturing capabilities.

In April 2024, ELLWOOD expanded its specialty metal production with a new 20-ton vacuum induction melting facility in Pennsylvania.

In December 2023, Canton Drop Forge partnered with Weld Mold to advance employee welding skills, enhancing workforce capability.

The market is consolidated, with leading firms leveraging scale, innovation, and strategic partnerships to maintain dominance and explore new growth avenues across high-tech and traditional industries.

Product Code: 13504

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Raw Material
- 1.4.2. Market Size Breakdown, by Technology
- 1.4.3. Market Size Breakdown, by End-user
1.5. Market Data Reporting Unit
- 1.5.1. Revenue
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Industry Background
5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
5.3. Impact of COVID-19
5.4. Sociopolitical Impact
5.5. Porter's Five Forces Analysis
- 5.5.1. Bargaining Power of Buyers
- 5.5.2. Bargaining Power of Suppliers
- 5.5.3. Threat of New Entrants
- 5.5.4. Intensity of Rivalry
- 5.5.5. Threat of Substitutes
5.6. Innovation and Technology Trends
5.7. Economic and Regulatory Impact
5.8. Market Entry Strategies

Chapter 6. Competitive Landscape

6.1. List of Market Players and their Offerings
6.2. Market Share of Key Players (2024)
6.3. Competitive Benchmarking of Key Players
6.4. Product Benchmarking of Key Players
6.5. Recent Strategic Developments by Key Players
6.6. Company Leadership Matrix

Chapter 7. U.S. Market

7.1. Overview
7.2. Market Revenue, by Raw Material (2019-2032)
7.3. Market Revenue, by Technology (2019-2032)
7.4. Market Revenue, by End-user (2019-2032)
7.5. Market Revenue, by Country (2019-2032)

Chapter 8. Northeast Market

8.1. Overview
8.2. Economic Indicators
8.3. Demographics and Population Insights
8.4. Regional Hotspots
8.5. Growth Drivers
8.6. Challenges and Barriers
8.7. Competitive Strategies
8.8. Emerging Players
8.9. Import/Export Policies
8.10. Compliance Requirements
8.11. Emerging Investment Areas
8.12. Major Ongoing Projects
8.13. Market Size and Forecast
- 8.13.1. Market Revenue, by Raw Material (2019-2032)
- 8.13.2. Market Revenue, by Technology (2019-2032)
- 8.13.3. Market Revenue, by End-user (2019-2032)

Chapter 9. West Market

9.1. Overview
9.2. Economic Indicators
9.3. Demographics and Population Insights
9.4. Regional Hotspots
9.5. Growth Drivers
9.6. Challenges and Barriers
9.7. Competitive Strategies
9.8. Emerging Players
9.9. Import/Export Policies
9.10. Compliance Requirements
9.11. Emerging Investment Areas
9.12. Major Ongoing Projects
9.13. Market Size and Forecast
- 9.13.1. Market Revenue, by Raw Material (2019-2032)
- 9.13.2. Market Revenue, by Technology (2019-2032)
- 9.13.3. Market Revenue, by End-user (2019-2032)

Chapter 10. Midwest Market

10.1. Overview
10.2. Economic Indicators
10.3. Demographics and Population Insights
10.4. Regional Hotspots
10.5. Growth Drivers
10.6. Challenges and Barriers
10.7. Competitive Strategies
10.8. Emerging Players
10.9. Import/Export Policies
10.10. Compliance Requirements
10.11. Emerging Investment Areas
10.12. Major Ongoing Projects
10.13. Market Size and Forecast
- 10.13.1. Market Revenue, by Raw Material (2019-2032)
- 10.13.2. Market Revenue, by Technology (2019-2032)
- 10.13.3. Market Revenue, by End-user (2019-2032)

Chapter 11. South Market

11.1. Overview
11.2. Economic Indicators
11.3. Demographics and Population Insights
11.4. Regional Hotspots
11.5. Growth Drivers
11.6. Challenges and Barriers
11.7. Competitive Strategies
11.8. Emerging Players
11.9. Import/Export Policies
11.10. Compliance Requirements
11.11. Emerging Investment Areas
11.12. Major Ongoing Projects
11.13. Market Size and Forecast
- 11.13.1. Market Revenue, by Raw Material (2019-2032)
- 11.13.2. Market Revenue, by Technology (2019-2032)
- 11.13.3. Market Revenue, by End-user (2019-2032)

Chapter 12. Company Profiles

Chapter 13. Appendix

13.1. Sources and References
13.2. Related Reports

U.S. Metal Forging Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)