Metal Forging Market - India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 3.36 Billion
Market Size in 2033: USD 6.01 Billion
Market Growth Rate (CAGR) 2025-2033: 6.18%
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According to IMARC Group's report titled "India Metal Forging Market Report and Forecast 2025-2033," the market reached USD 3.36 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.01 Billion by 2033, exhibiting a growth rate (CAGR) of 6.18% during 2025-2033.
India Metal Forging Market Trends and Drivers:
- The India metal forging market is witnessing significant growth with the increasing demand from automotive, aerospace, and heavy engineering industries.
- The swift growth of infrastructure and industrial development is resulting in greater usage of forged components, especially in construction equipment and railways.
- Government initiatives like "Make in India" and the domestic manufacturing drive are driving localization of production, thereby increasing the opportunities for metal forging players.
- Essentially, the need for lightweight, high-strength forged components in electric vehicles and defense production is also opening up new opportunities.
- With increasing investments in the renewable energy and oil & gas exploration sectors, turbine blades, flanges, and valves produced through forging processes are seeing increased adoption.
- Furthermore, product developments such as automated lines, precision forging, and closed-die forging are also driving productivity and minimizing material loss, making forging procedures more productive.
- Increasing use of high-performance materials such as titanium, alloy steel, and aluminum is also widening the range of applications of forged components in fields such as aviation and the marine sector.
- Further, the availability of a robust MSME base in the forging industry is playing a key role in fulfilling the bulk as well as customized demand of home as well as export markets.
- Growing foreign direct investment (FDI) in the manufacturing sector and partnerships with international forging firms are also driving capacity increases as well as technological improvements.
- On the whole, India metal forging market is on the verge of sustained growth, supported by industrial upgradation and the trend towards high-precision engineering solutions.
India Metal Forging Industry Segmentation:
We explore the factors propelling the India metal forging market growth, including technological advancements, consumer behaviors, and regulatory changes.
Material Insights:
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Others
Technique Insights:
- Close Die Forging
- Open Die Forging
- Ring Forging
Installation Capacity Insights:
- Small (100 MT to 12,500 MT)
- Medium (12,500 to 30,000 MT)
- Heavy (Above 30,000 MT)
End User Insights:
- Automotive
- Aerospace and Defense
- Railway
- Industrial Machinery
- Marine
- Others
Regional Insights:
- North India
- South Inia
- East India
- West India
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendation
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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