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Global Industry Hub. (Oct, 2024). Metal Forming Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2032) Global Industry Hub. Retrieved
Report ID: GIH 1089 | Oct 2024 | Format:
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Global Industry Hub. (Oct, 2024). Metal Forming Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2032) Global Industry Hub. Retrieved
The Metal Forming Market size was valued at US$ 202.36 Bn in 2025, it is estimated to grow at a CAGR of 3.78% from 2025 to 2032 and reach US$ 253.68 Bn by the end of 2032. Increase in demand for commercial vehicles, like EVs and hybrid vehicle production, and growing demand for lightweight vehicles, including the expansion of automation processes and advancements in manufacturing around the world, is propelling the growth of the metal forming industry.
The metal forming market is growing significantly as it is driven by the demand for high-strength materials in manufacturing by various segments of industries- aerospace, automotive, oil, and gas industries.
High demands of perfectly forged products due to their strength, durability, and ability to make the best use in extreme weather conditions or changing internal temperatures of machinery. Automotive segment is the market propeller for the industry due to its applications of forged metals in axles, Geras, and crankshafts.
Increasing adoption of EVs and hybrid vehicles increases the demand for metal forming. They are considered to be environmentally friendly in nature instead of the conventional automobiles that operate on crude oil. Improved infrastructure of emerging markets such as the Asia Pacific has increased market growth further on a large scale.
The aerospace industry is also another massive metal user because the industry requires light and strong metals for most aircraft production. Again, the market is growing due to an increasing need for sustainability and the minimization of material wastage as well as aligning objectives toward eco-friendliness.
AI is revolutionizing the metal forming market by increasing efficiency, accuracy of forming, and product quality of methods of manufacture. The presence of AI-based systems leads to streamlined production lines having more consistency that translates to lesser human error and higher yields overall.
Machine learning algorithms will predict equipment failure even before it occurs through the analysis of the huge data fed into it. This, in turn, reduces the downtime and helps improve the productivities of the process associated with manufacturing without human involvement if the same becomes absolutely automated.
AI can also help to optimize the designing of the forming material through simulation process before actual project is carried out. AI-based systems and tools can look at enormous data sets that predict what will be happening in the different circumstances while giving complete data about the future products.
In the aerospace sector, such a simulation is of greater importance since the missions undertaken are much more critical as they deal with real-time technical complexities many times. The quality control also increases through real-time monitoring using AI. Hence, the overall production of this metal forming market increases when AI is adopted.
Some of the major players functioning in the metal forming industry include:
Technique Segment
The market for metal forming was dominated by the extrusion method in 2024. This is because the extrusion method possesses many advantages. Sueper surface finishing and mechanical Properties can be achieved by the extrusion method. Good melting and efficient compounding can be obtained by this method, thereby further fueling the growth of the segment.
The stamping segment will be the fastest growing segment in the metal forming market in the forecast period. The stamping technique is typically applied for making different parts from metals and metal alloys of various shapes and sizes along with fixed structures that cannot be molded once fixed easily. Hence, it is mainly applied for automotive parts such as doors, steering, hoods, trucks, and roof liners.
Type Segment
The hot segment had the highest market share for metal forming in 2024. Metals are quite flexible when at high temperatures; hence they can be easily molded to any size and shape, and it becomes easier to shape and form. This therefore makes the metal easy to work with and requires less energy for the metal formation method. Due to the hot-type metal formation technique, even complex shapes can be made; hence, this is the most ideal process to make intricate components, which are mainly applied in the automotive and aerospace manufacturing industries.
The growth in the metal forming market during the foreseeable period will be registered by the cold segment. This growth is as a result of the wide application of the cold-forming processes in various production methods. Using cold forming allows components to be done at room temperature and do not require other processes. This gives the cold forming process an advantage in that the cost to make components was lower, and this is the main driving force behind the advancement of this segment.
End-use Segment
The automotive segment dominated the global metal forming market in 2024. This is because the automobile industry is widespread globally and requires highly formed parts that can fit into the structure of the automobile designed. Hence, the automotive sector tends to become the major consumer and contributor to the metal forming as they need forged products like frames, gear components, drive shafts, clutches, etc.
Industrial equipment & machinery has a great growth potential in the metal forming market during the forecast period. Since industrial applications involve heavy-duty usage of products, they need strong and robust components for the production of goods. In addition, an increase in infrastructural projects globally boosts demand for industrial equipment, thereby adding value to this segment's growth stream.
| Report Coverage | Details |
|---|---|
| Base Year | 2024 |
| Base Year Value | USD 196.02 billion |
| Forecast Value | USD 253.68 billion |
| CAGR | CAGR of 3.78% |
| Forecast Period | 2025-2032 |
| Historical Data | 2020-2024 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Segments Covered | Technique, Type, End-use, and Regions |
| Region Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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Drivers
Global concern towards green products in the manufacturing sector
One of the major drivers of the metal-forming market is a global trend toward sustainability, and material durability has witnessed rapid growth in electric and hybrid vehicle sales. Hence, production is increasing rapidly because industry behemoths like Tesla are propelling massive growth of the metal-forming market.
Also, electrical vehicles require précised forming materials because of efficiency and durability purposes, mainly required for parts like batteries, motors, transmission systems of internal parts, etc.
The growth of the auto industry across the globe is one of the major drivers for the metal forming market, mainly by the increased adoption of EVs and hybrid vehicles for reducing carbon emission in the auto industry. Its performance depends upon huge numbers of metallic materials and metal alloys as key parts of the vehicle, like internal engine parts, crankshafts, gears, axles, etc. These need to be tough and should not break in the unpredictable changes happening while traveling.
Restraint
High operational cost
High energy usage in the metal forming process has been the main limiting factor for the market of metal forming, and it is significantly affecting the rate of market growth due to the increased initial cost of operation in the process of metal formation. The metal forming method involves high temperature for better forming, with intense pressure that can be created only with the high energy usage.
This process is energy-intensive, thus increasing the overall cost of operation for this forging method. It has greater relevance in the areas where the budget is limited and, more especially in suburban regions, energy sources are not so readily available.
Opportunity
Manufacturing Technology improvement
Major Opportunity "The significant opportunity that the metal forming market holds is ongoing advancements in manufacturing technology and rising demand from various industries for metal products. Industries such as automotive, aerospace, electronics, and construction rely significantly on equipment made from metals or metal alloys. There is an increasing tendency to shift towards durable materials in aerospace and automotive sectors.".
Along with this, the global orientation towards reducing carbon emission and its impact on the environment with sustainability is pushing up demand for metal recycling for environment-friendly production of metal form equipment, which enhances the efficiency and quality of metal formation and helps the growing metal forming market globally on a large scale.
Asia Pacific was the largest share for the market for metal forming in 2024 and will continue to hold its position throughout the forecast period. The growth in this region is attributed to the penetration of major market participants in economically emerging nations like China, Japan, and India.
Asia Pacific possesses high-quality human resources for the management of forging techniques for metal alloys, which further enhances it to produce even higher quantities of the same product in the end-use industries like automotive and general manufacturing.
In addition, the rapid growth of the automobile industry in India is once again a significant enabler of the growth of the metal forming market.
North America would add a lot of value in the metal forming market in the next decade. North American markets grow along with the ever-rising demand to forge automobile parts and substantial sales of automobiles in this region. In addition, North America holds a highly developed automotive market. Hence they tend to be the largest consumers of forged metal parts.
Segments Covered:
By Technique
By Type
By End-use
By Geography
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