| Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 64.18 Billion | USD 134.51 Billion | 7.68% | 2024 |
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Steel Forging Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 7. Global Steel Forging Market for Bearing, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Steel Forging Market for Bearing, By Country, 2020 & 2028
FIG NO. 9. Global Steel Forging Market for Crankshaft, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Steel Forging Market for Crankshaft, By Country, 2020 & 2028
FIG NO. 11. Global Steel Forging Market for Axle, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Steel Forging Market for Axle, By Country, 2020 & 2028
FIG NO. 13. Global Steel Forging Market for Piston, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Steel Forging Market for Piston, By Country, 2020 & 2028
FIG NO. 15. Global Steel Forging Market for Connecting rods, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Steel Forging Market for Connecting rods, By Country, 2020 & 2028
FIG NO. 17. Global Steel Forging Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Steel Forging Market for Others, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 20. Global Steel Forging Market for Passenger Car (PC), Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Steel Forging Market for Passenger Car (PC), By Country, 2020 & 2028
FIG NO. 22. Global Steel Forging Market for Light Commercial Vehicle (LCV), Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Steel Forging Market for Light Commercial Vehicle (LCV), By Country, 2020 & 2028
FIG NO. 24. Global Steel Forging Market for Heavy Commercial Vehicle (HCV), Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Steel Forging Market for Heavy Commercial Vehicle (HCV), By Country, 2020 & 2028
FIG NO. 26. Global Steel Forging Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Steel Forging Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 28. Porter’s Five Forces Analysis for Global Steel Forging Market
FIG NO. 29. PEST Analysis for Global Steel Forging Market
FIG NO. 30. Pricing Analysis for Global Steel Forging Market
FIG NO. 31. Value Chain Analysis for Global Steel Forging Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. E.I. du Pont de Nemours and Company Business Segment Revenue Share, 2020 (%)
FIG NO. 36. E.I. du Pont de Nemours and Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
List of Tables
TABLE NO. 1. Global Steel Forging Market: Snapshot
TABLE NO. 2. Quarterly Steel Forging Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Steel Forging Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Steel Forging Market for Bearing, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Steel Forging Market for Crankshaft, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Steel Forging Market for Axle, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Steel Forging Market for Piston , by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Steel Forging Market for Conneting rods, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Steel Forging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Steel Forging Market for Passenger Car (PC), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Steel Forging Market for Light Commercial Vehicle (LCV), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Steel Forging Market for Heavy Commercial Vehicle (HCV), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Steel Forging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global Steel Forging Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Steel Forging Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 21. U.S. Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 23. Canada Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 24. Mexico Steel Forging Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 25. Mexico Steel Forging Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 26. Drivers for the Steel Forging Market: Impact Analysis
TABLE NO. 27. Restraints for the Steel Forging Market: Impact Analysis
TABLE NO. 28. Major Buyers of Steel Forging
TABLE NO. 29. Distributors/Traders List of Steel Forging
TABLE NO. 30. Global Steel Forging Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 31: Global Steel Forging Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
FrequentlyAsked Questions
Steel forging is a manufacturing process that shapes a piece of steel (often heated) into a high-strength component by applying localized compressive forces (hammering, pressing, or rolling), which refines the internal grain structure for superior mechanical properties.
Key factors influencing steel forging market growth over 2025-2034 include booming demand from the automotive (especially EVs) and aerospace sectors, global infrastructure development, the shift toward lightweight and high-strength materials, and technological advancements like automation and precision forging.
According to a study, the global steel forging market size was worth around USD 64.18 billion in 2024 and is expected to reach USD 134.51 billion by 2034.
The global steel forging market is expected to grow at a CAGR of 7.68% during the forecast period.
Asia Pacific is expected to dominate the steel forging market over the forecast period.
Leading players in the global steel forging market include Mitsubishi Materials, Bharat Forge, Thyssenkrupp, Nippon Steel Corporation, Engineered Precision Machining, Eagle Stainless, Sunrise Enterprises, Allegheny Technologies, Marmon Group, Aichi Steel, Precision Castparts, ArcelorMittal, Fountaintown Forge, Raymond Corporation, and Alcoa, among others.
The report explores crucial aspects of the steel forging market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
RelatedNews
HappyClients
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.

Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed