Metal Forging Market Size & Forecast to 2031

According to the latest publication from Meticulous Research®, the metal forging market is projected to reach $153.9 billion by 2031, growing at a CAGR of 7.4% from 2024 to 2031. The market's growth is driven by rising infrastructure development and increased commercial aircraft production. However, intensive energy consumption and fluctuating raw material costs and availability may restrain market growth.
Additionally, the adoption of Industry 4.0 technology and advancements in forging technology are expected to provide significant growth opportunities for players in the metal forging market. Nonetheless, supply chain disruptions and the complexity of regulatory compliance may hinder market expansion.