Global Forged Bars Market was valued at USD 1.1 Billion in 2022 and is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The forged bars market has been witnessing significant growth due to the rising demand from key industries like automotive, aerospace, construction, and energy. These high-performance products, known for their strength and durability, are essential components in manufacturing critical components such as gears, shafts, and turbine blades. As industries continue to evolve, the forging process has also advanced, incorporating new technologies like precision forging, which have further enhanced the efficiency and quality of forged bars.
Forged bars are typically produced by heating metals to high temperatures and then applying pressure to shape them into bars of various sizes and shapes. This process improves the material properties, making them more resistant to fatigue, wear, and corrosion. The growing need for high-strength components in machinery and equipment is one of the major drivers for the growth of the forged bars market.
The automotive sector, in particular, plays a crucial role in driving demand for forged bars, as these materials are widely used for manufacturing engine parts, suspension components, and transmission systems. Similarly, the aerospace industry requires forged bars for producing lightweight yet strong components like engine parts, airframe components, and landing gears. These industries are expected to continue their reliance on forged bars as the demand for advanced, high-performance materials increases.
Geographically, North America and Europe are key regions in the forged bars market due to the presence of well-established automotive and aerospace industries. However, the Asia-Pacific region is emerging as a high-growth area, driven by rapid industrialization and increasing infrastructure development in countries like China and India.
The future of the forged bars market looks promising, with advancements in forging technology, rising demand for high-strength materials, and increasing applications in critical industries. The market is poised for continued growth, driven by ongoing investments in technological innovations and infrastructure expansion.
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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, Global, 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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