Global Casting Forging and Stamping
Market Report
2024
The Global Casting Forging and Stamping market size was USD 448.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 5.90% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Casting Forging and Stamping market size was USD 448.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 5.90% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Casting Forging and Stamping Market Sales Revenue 2022 | $ 448.9 Billion |
Global Casting Forging and Stamping Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.9% |
Market Split by Product |
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Market Split by Application |
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Market Split by Material |
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Market Split by End Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Casting Forging and Stamping Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The primary factor driving market expansion is the rise in industrial applications. The market for metal stampings is evolving, and its more advanced technological capabilities are beginning to outpace other production processes. The global market for metal stampings, forgings, and castings is projected to be positively impacted by increased demand for product customization. Demand is also projected to increase throughout the forecast period because of the growing need for cast metal for lightweight and fuel-efficient cars to minimize carbon emissions in sectors like aerospace and automotive.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the casting, forging and stamping industry.
For instance, Orlando Spring Corporation announced in October 2021 that it had acquired the metal stamping assets of Advanex Americas, greatly expanding Orlando Spring's stamping capabilities.
Effective performance has been a significant market driver for casting, forging and stamping. The desire for steel in the building, automotive, and aerospace industries is the main cause of the steel material segment's dominance in the market. Heavy loads can be supported by steel components that have been stamped or forged. There are numerous alloys and compositions available for steel. This enables producers to alter their products' attributes to suit particular needs.
The aerospace and defense industries will use a new variety of forged materials with exceptional strength and endurance starting in July 2021, according to ATI Ladish Forging.
(Source:www.forgings.bz/ati/)
Developing sophisticated die designs with incorporated sensors and actuators will enable real-time feedback and control during stamping operations. These intelligent dies can monitor and adjust variables like pressure, temperature, and lubrication, improving process control, increasing component quality, and reducing scrap rates.
The constraints of access to plastic and composite materials constrain the casting forging and stamping market. A significant barrier to industry expansion is the accessibility of plastic and composite materials as alternatives. Plastic and fiber progressively replace metal in several industrial product components due to their lightweight and corrosion-resistant qualities. In the automobile sector, for instance, plastic is used to create a range of exterior vehicle components, including beams, body panels, floor panels, air ducts, and resonators, among others.
Plastics are less expensive than metal and may be molded into intricate patterns. Reusable plastics are more popular with consumers since they last longer than disposable metal items. Metal devices decay due to interference from organic substances, whereas plastics can tolerate pressures and last longer than metallic devices due to their structural integrity and malleability.
The COVID-19 pandemic significantly impacted the casting, forging, and stamping market. The epidemic hampered Supply networks, resulting in a lack of raw materials and parts. The epidemic also decreased demand for manufactured goods as businesses shuttered and individuals reduced their spending. The market for casting, forging, and stamping is anticipated to rebound and expand in the upcoming years despite the difficulties brought on by the pandemic. The expansion of the aerospace, automotive, and construction sectors is fueling the industry. The automobile industry is the greatest market for castings, forgings, and stampings, which is anticipated to expand in the years to come.
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The corporations are concentrating on cost-cutting initiatives and efficiency enhancements to stay competitive in the global market. Implementing cutting-edge technology, optimizing production procedures, and providing clients value-added services. Firms can use Several important tactics to keep their market share and promote industry growth.
February 2023: A contract between state-owned Bharat Forge Limited and HAL focuses on creating aerospace-grade steel alloys to cast, forge, or stamp tougher components.
(Source:www.bharatforge.com/assets/pdf/press_reports/2023/Bharat%20Forge_HAL_CoverageReport.pdf)
July 2021: New high-strength and toughness forged materials have been introduced, according to ATI Ladish Forging, for use in the aerospace and defense sectors.
(Source:www.atimaterials.com/forgedproducts/Pages/default.aspx)
Top Companies Market Share in Casting Forging and Stamping Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, Asia Pacific dominated the market in 2022 and accounted for a share of more than 35% of the global revenue due to several variables. The Asia Pacific region dominates the market for casting, forging and stamping. The region is expected to grow significantly because sectors including automotive, electronics, aerospace and defense, are consuming more and more. Furthermore, the region's strong economy and significant presence of multinational firms create a considerable demand for casting, forging and stamping, which promotes global trade and business growth. China's metal stamping, forging, and casting industry is also expected to rule the world. This is due to its extensive steel-producing infrastructure. Low labor costs are another factor fueling market expansion. A major center for manufacturing has emerged in China. Several major corporations are being drawn to establish production plants. To make China a manufacturing superpower, the government is establishing programs like "Made in China 2025." Through these programs, industries are being upgraded with cutting-edge manufacturing technologies. Metal stampings, forgings, and castings are therefore anticipated to increase in popularity.
North America is the second largest region. The biggest consumer of metal parts in North America is the auto sector. The market for casting, forging, and stamping in this sector is expanding due to the rising demand for lightweight automobiles, which require more metal components. Another significant user of metal parts in North America is the aircraft sector. The market for casting, forging, and stamping in this sector is expanding as a result of the rising demand for commercial and military aircraft.
The current report Scope analyzes Casting Forging and Stamping Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Casting Forging and Stamping Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Casting Forging and Stamping Industry growth. Casting Forging and Stamping market has been segmented with the help of its Product, Application Material, and others. Casting Forging and Stamping market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, metal stampings are utilized most frequently in the market for casting, forging and stamping. Due to its ability to produce large quantities of parts at a low cost while maintaining a high level of quality, the metal stampings market segment commands a significant market share. Stampings of metals are highly mechanized. As a result, productivity rates increase, and efficiency is enhanced. These provide design and tooling freedom. It is relatively simple to design and modify the stamping dies.
Forgings is the second-most used product. While metal stamping rules the market, forgings are still necessary for some casting, forging and stamping. Because of their strength, low weight, and dependability, large aluminum alloy forgings are highly prized in the aircraft sector. The rising global demand for airplanes is driving the need for planes. The aircraft sector has many possible uses for forged metals. As a result, the expanding aircraft sector is projected to support the growth of the metal forging market.
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The automotive has the most popular offering, and this is due to consumer demand for lighter, stronger cars, which calls for the usage of premium metal parts that are created to exacting standards. The construction sector will probably grow in the upcoming years due to rising global infrastructure spending. Industrial machinery sales will account for most of the market revenue over the projection period.
The casting, forging and stamping for aerospace offering ranks second in usage. The aerospace, electrical, and electronics industries are all expected to experience significant growth in the future. This is because there will be a rise in the need for electrical devices, engine parts, and landing gears. The telecommunications application segment is expected to increase faster than others due to the rising need for wireless devices and sensors.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Steel is the casting forging and stamping market's most popular offering. Steel has been utilized for millennia in various industries, including manufacturing, transportation, and construction. It is a dependable substance that can survive extreme heat, pressure, and wear and tear, making it perfect for demanding and important applications. Steel is easily produced and customized to fit various requirements and specifications. This increases its adaptability and appeal on the global market.
According to Cognitive Market Research, aluminum is the second-most popular product. It is anticipated that there will be an increase in demand for castings made of non-ferrous metals and aluminum. Ferro-alloy castings for non-ferrous metals are also predicted to increase in popularity. These patterns could lead to the creation of brand-new, exciting market opportunities.
According to Cognitive Market Research, automotive has the most popular offering; the automobile sector primarily drives the casting, forging, and stamping market. One of the major elements promoting this rise is the rising demand for lightweight automobiles. In light of growing environmental concerns, lightweight vehicles are crucial since they are more fuel-efficient and emit less emissions.
The casting, forging and stamping for aerospace & defense offerings rank second in usage. Casting, forging, and stamping are all utilized in the aerospace and defense industries to create a wide range of parts, such as engine parts, structural components, and landing gear. These parts must be resilient to hostile environments, lightweight, sturdy, and durable.
Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
Specialties: Industry research, Company analysis, Location Strategy, Tech Research, Change Management, Process Improvement, Peer Group Benchmarking, Startup Ecosystem, Crypto Research, COVID19 Impact Analysis, etc.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Casting Forging and Stamping Market is witnessing significant growth in the near future.
In 2023, the Metal Stamping segment accounted for noticeable share of global Casting Forging and Stamping Market and is projected to experience significant growth in the near future.
The Automotive segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Alcoa Corporation , Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Product | Metal Stamping, Forgings, Castings |
Application | Automotive, Aerospace, Construction, Oil & Gas, Consumer Goods, Industrial Machinery, Others |
Material | Steel, Aluminium, Brass, Others |
End Use | Automotive, Aerospace, Construction, Oil & Gas, Consumer Goods, Electronics, Medical Devices, Others |
List of Competitors | Alcoa Corporation, Aludyne, Inc., American Axle & Manufacturing, Inc., Bharat Forge Limited, DAYTON Lamina Corporation |
This chapter will help you gain GLOBAL Market Analysis of Casting Forging and Stamping. Further deep in this chapter, you will be able to review Global Casting Forging and Stamping Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Material Analysis 2019 -2031
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Chapter 13 Market Split by End Use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Casting Forging and Stamping market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Metal Stamping have a significant impact on Casting Forging and Stamping market? |
What are the key factors affecting the Metal Stamping and Forgings of Casting Forging and Stamping Market? |
What is the CAGR/Growth Rate of Automotive during the forecast period? |
By type, which segment accounted for largest share of the global Casting Forging and Stamping Market? |
Which region is expected to dominate the global Casting Forging and Stamping Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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