The Global Forgings Market was valued at USD 88.2 Billion in 2024 and is projected to reach USD 113.5 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period (2024–2029). This robust growth is fueled by increasing demand from the automotive, aerospace, and oil & gas industries, alongside advancements in forging technologies that enhance component strength, durability, and performance.

As manufacturing sectors worldwide emphasize lightweight, high-strength components for improved efficiency and reduced emissions, the strategic importance of forged parts has become paramount. In this blog, we profile the Top 10 Companies in the Global Forgings Industry—a diverse group of established metalworking giants and specialized forging experts driving innovation across global supply chains.

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🔟 1. Nippon Steel & Sumitomo Metal Corporation

Headquarters: Tokyo, Japan
Key Offering: Closed Die Forgings, Open Die Forgings, Rolled Rings

Nippon Steel & Sumitomo Metal is a global leader in steel production and one of the world’s largest suppliers of high-performance forged components. The company serves critical sectors including automotive, industrial machinery, and energy with forgings known for their superior metallurgical properties and reliability.

Innovation and Capacity:

• Extensive R&D in high-strength, lightweight steel alloys

• Advanced isothermal forging capabilities for aerospace applications

• Global production network ensuring supply chain resilience

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9️⃣ 2. Bharat Forge Limited

Headquarters: Pune, India
Key Offering: Powertrain Components, Chassis Components, Defense & Aerospace Forgings

Bharat Forge is a dominant player in the global forgings landscape, recognized as one of the largest manufacturers of forged components worldwide. The company has a significant presence in the automotive sector and has strategically diversified into defense, aerospace, and power generation.

Strategic Focus:

• Leadership in aluminum and lightweight forgings for electric vehicles

• Expansion into high-margin defense and aerospace contracts

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8️⃣ 3. Thyssenkrupp AG

Headquarters: Essen, Germany
Key Offering: Large Die Forgings, Precision Forgings for Automotive and Industrial Use

Thyssenkrupp’s forging division is a cornerstone of Europe’s industrial base, producing high-quality components for the automotive, wind energy, and capital goods sectors. The company excels in manufacturing large, complex forgings that meet stringent international quality standards.

Technological Leadership:

• Pioneering closed-die forging processes for crankshafts and chassis parts

• Focus on sustainable manufacturing and carbon-neutral production goals

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7️⃣ 4. American Axle & Manufacturing (AAM)

Headquarters: Detroit, Michigan, USA
Key Offering: Driveline Systems, Powertrain Components, Metal Forming Solutions

AAM is a leading global supplier of driveline and metal-forming technologies. While renowned for its automotive axle systems, the company possesses extensive forging expertise, producing critical components that endure high stress and torque in vehicle applications.

Market Position:

• Key supplier to major global OEMs for transmission and drivetrain parts

• Investment in R&D for electric vehicle propulsion system components

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6️⃣ 5. KOBELCO (Kobe Steel, Ltd.)

Headquarters: Kobe, Japan
Key Offering: Aluminum Forgings, Steel Forgings, Titanium Forgings

KOBELCO is a technologically advanced forging specialist with a strong reputation in the aerospace and automotive industries. The company is known for its proprietary processes in aluminum and titanium forging, supplying parts for aircraft landing gears and engine components.

Specialized Expertise:

• World-class capabilities in near-net-shape forging for aerospace

• Development of high-performance aluminum alloys for weight reduction

Download FREE Sample Report: Global Forgings Market – View in Detailed Research Report

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5️⃣ 6. Arconic Corporation

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: Aerospace Forgings, Industrial Forgings, Titanium and Aluminum Components

Arconic is a premier developer and manufacturer of engineered products, with a forging segment that is critical to the aerospace industry. The company produces large, complex structural airframe components and jet engine parts from advanced aluminum, titanium, and nickel-based superalloys.

Aerospace Dominance:

• Supplies over 90% of Western commercial aircraft with forged components

• Continuous investment in large-scale press capacity and metallurgical R&D

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4️⃣ 7. Allegheny Technologies Incorporated (ATI)

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: Specialty Metal Forgings, Nickel-Based Alloys, Titanium Mill Products

ATI is a leader in producing high-performance specialty materials and complex forgings for the most demanding applications. The company’s products are essential in aerospace and defense for jet engines, airframes, and landing systems, as well as in the oil & gas industry.

High-Performance Materials Focus:

• Expertise in forgings that withstand extreme temperatures and corrosive environments

• Strategic focus on next-generation aerospace and defense platforms

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3️⃣ 8. CITIC Heavy Industries Co., Ltd.

Headquarters: Luoyang, China
Key Offering: Large-Scale Open Die Forgings, Heavy Machinery Components

CITIC Heavy Industries is a major Chinese industrial conglomerate with significant forging capabilities, particularly in large open-die and roll-forged rings. The company serves the mining, cement, and power generation industries with massive components like grinding mill trunnions and wind turbine shafts.

Scale and Scope:

• One of the world’s largest manufacturers of heavy forgings and castings

• Critical supplier to China’s massive infrastructure and energy sectors

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2️⃣ 9. WanXiang Group

Headquarters: Hangzhou, China
Key Offering: Automotive Components, Constant Velocity Joints, Bearing Forgings

WanXiang Group is a leading Chinese automotive components supplier with extensive forging operations. The company is a major producer of driveline components, particularly constant velocity joints, and has a growing global footprint through strategic acquisitions and partnerships.

Automotive Supply Chain Integration:

• Vertically integrated manufacturing from forging to finished assembly

• Significant market share in the global aftermarket for CV joints and axles

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1️⃣ 10. FAW Group Corporation

Headquarters: Changchun, China
Key Offering: Automotive Forgings for Commercial and Passenger Vehicles

FAW Group, one of China’s “Big Four” automotive manufacturers, operates a large in-house forging division to supply its vehicle production. The company produces a wide range of forged parts, including crankshafts, connecting rods, and front axle beams for trucks and passenger cars.

Integrated Manufacturing Model:

• Captive forging capacity supporting one of China’s largest vehicle producers

• Focus on cost-effective, high-volume forging for the mass market

Read Full Report: Global Forgings Market – View in Detailed Research Report

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🏭 Outlook: The Forging Industry Is Evolving with Technology and Demand

The global forgings market is in a phase of strategic transformation. While traditional steel forgings continue to dominate industrial applications, the industry is rapidly adopting advanced manufacturing technologies, lightweight materials, and digitalization to meet the evolving needs of key end-use sectors.

📈 Key Trends Shaping the Market:

• Accelerated adoption of precision forging and near-net-shape technologies to reduce material waste and machining costs

• Growing demand for aluminum and titanium forgings in aerospace and premium automotive segments for weight reduction

• Integration of Industry 4.0 technologies like AI and IoT for predictive maintenance and quality control in forging presses

• Strategic expansion into high-growth segments such as electric vehicle components, renewable energy (wind turbine shafts), and defense

Read Full Report: Global Forgings Market – View in Detailed Research Report

The companies profiled above are not just manufacturing metal parts; they are building the backbone of modern industry and enabling the next generation of transportation, energy, and machinery.