Forged Bars Market was valued at USD 10.5 Billion in 2022 and is projected to reach USD 15.2 Billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030.
The global forged bars market was valued at approximately USD 60 billion in 2022, with a compound annual growth rate (CAGR) of 5.2% projected through 2030. This growth trajectory is driven by increasing demand across various industries including automotive, aerospace, and construction, which rely on forged bars for their high strength and durability. The market is segmented into carbon steel, alloy steel, and stainless steel forged bars, each contributing to the overall market dynamics. The rising investments in infrastructure development and the growing trend towards the use of advanced materials in high-performance applications are anticipated to further boost the market.
Emerging markets, particularly in Asia-Pacific, are expected to offer substantial opportunities for growth. Rapid industrialization, expanding manufacturing sectors, and infrastructural advancements in countries such as China and India are creating a robust demand for forged bars. Additionally, the shift towards sustainable manufacturing practices and advancements in forging technologies are likely to open new avenues for market expansion. With these developments, the forged bars market is positioned to capitalize on emerging trends and regional growth, presenting significant opportunities for stakeholders across the value chain.
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Barrett Steel
Scot Forge
KISCO
FRISA
Guru Gautam Steels
GMH Gruppe
Anderson Shumaker
Great Lakes Forge
Ovako
CUMIC Steel
Steel House India
National Steel Industries
Hammer Steel
Forge USA
Somersforge
Zhonghangshangda
Baoji First Titanium Industry
Shandong Meiling Group
Chalco Aluminum Fabrication
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Forged Bars Market
Machine Made
Aerospace
Car Manufacturer
Metallurgy
Other
Based on Types the Market is categorized into Below types that held the largest Forged Bars market share In 2023.
Hot Forging Pie Forging
Warm Forging Pie Forging
Cold Forging Pie Forging
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Forged Bars Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Forged Bars Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Forged Bars Market, By Type
6. Global Forged Bars Market, By Application
7. Global Forged Bars Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Forged Bars Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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