Aluminium Forging Market Business Scenario, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2033

The increasing focus on renewable energy and the growing demand for electric vehicles, which require lightweight and high-performance components

VANCOUVER, BRITISH COLUMBIA, CANADA, January 30, 2025 /EINPresswire.com/ -- The aluminium forging market is expected to grow from an estimated USD 14215.5 million in 2024 to USD 23016.2 million in 2033 at a CAGR of 5.5%. The global aluminium forging market is set for significant expansion, driven by increasing demand in industries such as automotive, aerospace, and renewable energy. The adoption of lightweight, high-performance aluminium components is accelerating as manufacturers prioritize fuel efficiency, sustainability, and performance.

Key Growth Drivers

The market is experiencing a surge in demand due to the development of new aluminium alloys that offer enhanced strength, corrosion resistance, and formability. These innovations enable the production of high-strength, crash-resistant structural components for vehicles and critical aircraft parts.

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Additionally, the shift toward electric vehicles (EVs) and renewable energy solutions is fueling the demand for lightweight aluminium components, further boosting market growth.

Recent industry developments highlight this trend. In February 2022, Precision Castparts Corp. completed the acquisition of Noranco Inc., a provider of aluminium forging and machining services. This strategic move is expected to strengthen Precision Castparts’ position in the aerospace industry while creating opportunities in other markets.

In October 2020, ELLWOOD expanded its aluminium production capacity with a new state-of-the-art facility, reinforcing its commitment to technological advancements in aerospace and industrial applications. Similarly, in January 2023, Pacific Precision Forging invested in a fully automated closed-die forging press to enhance product quality and lightweight solutions for the automotive sector.

Challenges and Market Constraints

Despite its promising growth, the aluminium forging market faces challenges, primarily due to the volatility in raw material prices. Fluctuations in aluminium costs can impact production expenses, leading to price instability and uncertainty for manufacturers and suppliers. These factors may hinder investment in expansion projects and research initiatives.

Market Segmentation Insights

The market is segmented based on forging type into open die forging, close die forging, and ring-rolled forging. Among these, close die forging is expected to hold the largest market share due to its application in producing lightweight, high-strength components for the automotive and aerospace sectors. Meanwhile, ring-rolled forging is projected to be the fastest-growing segment, driven by its increasing use in vehicle manufacturing, infrastructure development, and renewable energy projects.

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Aluminium Forging Top Companies and Competitive Landscape

The prominent companies in the aluminium forging market are Anchor Harvey, Anderson Shumaker Company, Bharat Forge, Ellwood Group Inc. and Howmet Aerospace. These businesses are making substantial investments in aluminium forging research and development. By concentrating on growth methods, including collaborations, mergers and acquisitions, product launches, and others, the companies in the aluminium forging market are attempting to increase their market share.

In July 2022, Bharat Forge announced the acquisition of JS Autocast Foundry India Private Limited, located in Coimbatore, India. JS Autocast provides the essential machined ductile castings for various industries and applications, including automotive, hydraulic, off-highway, and wind.

Some of the key companies in the global Aluminium Forging market include:

Accurate Steel Forgings (INDIA) Limited

Al Forge Tech Co., Ltd.

All Metals & Forge Group

Aluminum Precision Products

Anchor Harvey

Anderson Shumaker Company

Bharat Forge

Ellwood Group Inc.

Howmet Aerospace

ILJIN Co., Ltd.

Kobe Steel, Ltd.

Nippon Steel Corporation

Norsk Hydro ASA

Ramkrishna Forgings Ltd

Aluminium Forging Latest Industry Updates

In September 2024, Ramkrishna Forgings announced plans to establish a new aluminum forging facility in Jamshedpur, India. This development is in line with the company’s expansion of its capacity in the manufacturing of aluminum components, which are lightweight yet high in strength to serve the automotive and aerospace industries.

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Aluminium Forging Market Segmentation Analysis

Forging Type Outlook (Revenue, USD Million; 2020-2033)

Open Die Forging

Close Die Forging

Ring Rolled Forging

End-User Outlook (Revenue, USD Million; 2020-2033)

Aerospace & Defense

Automotive & Transportation

Industrial Machinery

Construction

Other End-user Industries (Electronics and Instrumentation, Energy Power, Agriculture and Farming)

Regional Outlook (Revenue, USD Million; 2020-2033)

North America

United States

Canada

Mexico

Europe

Germany

France

United Kingdom

Italy

Spain

Benelux

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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Look Over transcripts provided by Emergen Research

Aluminium Forging Market Size@ https://www.emergenresearch.com/industry-report/aluminium-forging-market/market-size

Aluminium Forging Market Share@ https://www.emergenresearch.com/industry-report/aluminium-forging-market/market-share

Aluminium Forging Market Trends@ https://www.emergenresearch.com/industry-report/aluminium-forging-market/market-trends

Aluminium Forging Regional Market Demand@ https://www.emergenresearch.com/industry-report/aluminium-forging-market/regional-market-demand

Aluminium Forging Market Analysis@ https://www.emergenresearch.com/industry-report/aluminium-forging-market/market-analysis

Eric Lee
Emergen Research
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