Casting and Forging Market Report 2025 (Global Edition)

Global Casting and Forging Market Report 2025 Market Size Split by Type (Forging , Casting ), by Application (Automobile , Mining , Construction , Industrial , Others)

Casting and Forging Market Report Description

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Competitive Landscape of the Casting and Forging Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge products, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Top Companies Market Share in Casting and Forging Industry: (In no particular order of Rank)

• Mahindra Forgings Europe AG
• Siempelkamp Group
• ThyssenKrupp AG
• Aichi Steel
• Alcoa
• Allegheny Technologies
• Bharat Forged
• KITZ
• Nippon Steel & Sumitomo Metal
• Schuler Group
• SNT.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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.

Regional Analysis of Casting and Forging

Which Region Dominates the Casting and Forging Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. 

Growth in the casting and forging industry in North America is being driven by higher demand from industries including oil and gas, aerospace, and automotive. This growth is being driven by elements including increased infrastructure spending, lightweight material emphasis, and technical breakthroughs. The area's strong industrial capabilities and highly qualified labor force also support the region's status as a developing casting and forging sector.

Which Region is Expanding at the Fastest CAGR?

The Europe region is witnessing an increase, in the sales of reagents. The industry for casting and forging in Europe is growing thanks to the rising car, aerospace, and building sectors. The area is investing in cutting-edge manufacturing technology and materials, spurring market expansion, with an emphasis on sustainability and innovation. The demand for high-performance components and stricter regulations both support the growth prospects of the European casting and forging industry.

The current report Scope analyzes Casting and Forging 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

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Casting and Forging Market Analysis

According to Cognitive Market Research, the global Casting and Forging market size was estimated at USD XX Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. The varied industrial landscape of North America contributes to the market's strength for casting and forging. Engine blocks and transmission parts are among the lightweight, long-lasting components that are in high demand in the automobile business. Stricter regulations and consumer demand for fuel-efficient cars are driving this industry's expansion. The oil and gas and aerospace sectors, which depend on casting and forging for vital parts like pipeline valves and turbine blades, also support market expansion. In order to meet changing industry demands, North America's casting and forging market is well-positioned for sustainable growth because to technical advancements and a competent workforce.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Casting and Forging market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The demand is amplified by the nation's the automotive industry's demand for lightweight yet durable components to enhance fuel efficiency and performance. 
• The Canada Casting and Forging market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada's infrastructure projects.
• The Mexico Casting and Forging market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD XX million in 2024.

Europe Casting and Forging Market Analysis

According to Cognitive Market Research, with a market value of USD XX million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD XX million. The market for casting and forging in Europe is expanding rapidly, supported by its robust industrial base and emphasis on innovation. A significant industry in the area is the aerospace sector, which fuels demand for structural parts and turbine blades among other precision-engineered components. The demand for strong, lightweight materials as well as the rise in air travel are driving this trend. Furthermore, the automotive sector in Europe plays a major role in the growth of the market. It depends on casting and forging for essential elements like transmission gears and chassis components. By emphasizing sustainability and technological progress, the European casting and forging industry is poised for sustained expansion and competitiveness in the worldwide market

• The United Kingdom Casting and Forging market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, Casting and Forging sales witness an upswing due to the nation's aerospace advancements contribute to market growth.
• The France Casting and Forging market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the Germany Casting and Forging market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. In Germany, Casting and Forging sales surge due to the its vast manufacturing sector, with industries such as automotive, construction, and machinery driving demand for component. 
• The Italy Casting and Forging market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD XX million in 2024.
• The Russia Casting and Forging market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD XX million in 2024.
• The Spain Casting and Forging market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD XX million in 2024.
• The Luxembourg Casting and Forging market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD XX million in 2024.
• The Portugal Casting and Forging market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD XX million in 2024.
• The Greece Casting and Forging market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD XX million in 2024.
• Rest of Europe Casting and Forging market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD XX million in 2024.

Asia Pacific Casting and Forging Market Analysis

According to Cognitive Market Research, the global Casting and Forging market size was estimated at USD XX Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.  

The booming industrial sector and swift economic growth in Asia Pacific are driving the region's casting and forging market. Among the major industries, the automobile sector stands out in particular because to the growing need for lightweight components that enhance performance and fuel efficiency. Furthermore, the region's infrastructure development initiatives are driving demand for casting and forging in the construction industry. As the world's casting and forging market continues to grow and innovate, Asia Pacific is positioned to play a key role thanks to its expanding industrial capacities, technological improvements, and skilled labor force.

• According to Cognitive Market Research, the China Casting and Forging market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Casting and Forging sales surge in China due to the government initiatives focusing on infrastructure development.
• The Japan Casting and Forging market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD XX million in 2024.
• The India Casting and Forging market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. The demand is augmented by India's technological innovation.
• The South Korea Casting and Forging market is projected to witness growth at a CAGR of 8.1% during the forecast period with a market size of USD XX million in 2024.
• The Australia Casting and Forging market is projected to witness growth at a CAGR of 8.7% during the forecast period with a market size of USD XX million in 2024.
• The South East Asia Casting and Forging market is projected to witness growth at a CAGR of 10.0% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Asia Pacific Casting and Forging market is projected to witness growth at a CAGR of 8.8% during the forecast period with a market size of USD XX million in 2024.

South America Casting and Forging Market Analysis

According to Cognitive Market Research, the global Casting and Forging market size was estimated at USD XX Million out of which Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031. The casting and forging market in Latin America is changing in response to economic ups and downs, with considerable development prospects appearing in industries including as construction and mining. Heavy-duty components like drill bits and gears, which are necessary for extraction operations, are in high demand, especially from the mining industry. Notwithstanding the obstacles caused by unstable economies, Latin America's abundant natural resources and growing infrastructural spending provide firms in the casting and forging industry encouraging opportunities. With the help of technological developments and strategic alliances, Latin America is well-positioned to realize its industrial potential and support the expansion of the global casting and forging market.

• According to Cognitive Market Research, the Brazil Casting and Forging market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Casting and Forging sales flourish in Brazil due to the nation's country's strong automotive.
• The Argentina Casting and Forging market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. The demand is augmented by Argentina's commitment to machinery sectors.
• The Colombia Casting and Forging market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD XX million in 2024.
• The Peru Casting and Forging market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD XX million in 2024.
• The Chile Casting and Forging market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Latin America Casting and Forging market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD XX million in 2024.

Middle East Casting and Forging Market Analysis

According to Cognitive Market Research, the global Casting and Forging market size was estimated at USD XX Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. The Middle East and Africa casting and forging market is characterized by an increasing focus on industrial expansion and infrastructure development. The demand for specialist parts like valves and pipeline fittings is fueled by the dominance of the oil and gas industry. Forging and casting producers can benefit greatly from the region's abundant energy resources and growing infrastructure spending, even in spite of the difficulties brought on by geopolitical unrest and economic volatility. The Middle East and Africa region is well-positioned to experience consistent expansion in the casting and forging business, bolstered by modernization and diversification efforts. This development is expected to contribute to both regional and global supply chains.

• According to Cognitive Market Research, the GCC Countries Casting and Forging market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Casting and Forging sales flourish in the GCC Countries due to the region's expanding automotive.
• The Egypt Casting and Forging market is projected to witness growth at a CAGR of 7.0% during the forecast period with a market size of USD XX million in 2024.
• The South Africa Casting and Forging market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD XX million in 2024. Casting and Forging sales flourish in the South Africa due to the region's infrastructure.
• The Turkey Casting and Forging market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD XX million in 2024.
• The Nigeria Casting and Forging market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD XX million in 2024.
• The Rest of MEA Casting and Forging market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD XX million in 2024.

Casting and Forging Market Analysis

Casting and Forging Types Segment Analysis

According to Cognitive Market Research, Forging held the major market share over the forecast period. The benefits of forging in generating strong, long-lasting components for vital applications are propelling the expansion of the casting and forging market. Because forging has better mechanical qualities and performance than other materials, it is used in industries including oil and gas, aerospace, and automotive. Forging continues to be a major factor in the growth of the casting and forging market due to the growing need for parts that are both durable and lightweight.

Casting is the fastest-growing category over the forecast period. The market for casting and forging is still expanding, in part because casting is a flexible and affordable way to create intricate designs and large-scale components. Casting is used in a variety of industries, including manufacturing, construction, and automotive, since it can produce complex pieces with precise tolerances. As materials and methods continue to progress, casting will continue to be a key factor in the growth of the casting and forging business.

• Forging 
• Casting 

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Casting and Forging Industry. Request a Free Sample PDF!

Casting and Forging Application Segment Analysis

According to Cognitive Market Research, Automobile hold a prominent market share. 

The market for casting and forging is expanding due in large part to the automotive industry, which demands components that are both lightweight and robust in order to improve performance and fuel efficiency. To satisfy these demands, casting and forging techniques are being used more and more in the production of engine blocks, crankshafts, and other crucial components. The global expansion of the automobile sector has a significant impact on the growth and development of the casting and forging market.

Mining is the fastest-growing category over the forecast period. The market for casting and forging is being driven by the mining industry, which needs strong parts for machinery and heavy-duty equipment used in extraction and processing. Drill bits, gears, and conveyor parts are among the high-strength and wear-resistant parts that casting and forging operations provide for mining applications. The demand for cast and forged items keeps rising as mining operations spread throughout the world to satisfy the expanding need for natural resources.

• Automobile 
• Mining 
• Construction 
• Industrial 
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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