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    India Metal Forging Market

    ID: MRFR/CnM/47532-HCR
    111 Pages
    Chitranshi Jaiswal
    September 2025

    India Metal Forging Market Research Report: By Raw Material (Steel, Aluminum, Magnesium, Nickel-Based Alloys, Titanium, Other), By Type (Closed-die Forging, Open-die Forging, Others) and By End-use (Automotive, Aerospace & Defense, Aircraft Engine, Others, Power, Building & Construction, Oil & Gas, Metalworking) - Forecast to 2035.

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    India Metal Forging Market Research Report - Forecast till 2035 Infographic
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    Table of Contents

    India Metal Forging Market Summary

    The India Metal Forging market is projected to grow significantly from 10.9 USD Billion in 2024 to 26.5 USD Billion by 2035.

    Key Market Trends & Highlights

    India Metal Forging Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 8.37 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 26.5 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 10.9 USD Billion, reflecting the current demand for metal forging in India.
    • Growing adoption of advanced manufacturing technologies due to increased industrialization is a major market driver.

    Market Size & Forecast

    2024 Market Size 10.9 (USD Billion)
    2035 Market Size 26.5 (USD Billion)
    CAGR (2025-2035) 8.37%

    Major Players

    Gujarat Forging, Raghavendra Forgings, Jaya Hind Industries, Minda Industries, Mahindra Forgings, Foseco India, AHLUWALIA CONTRACTS, Lloyds Metals and Energy, Sree Sakthi Paper Mills, Bharat Forge, Umrer Forgings, Saurashtra Forgings, Kothari Ferrous, Precision Camshafts

    India Metal Forging Market Trends

    The India Metal Forging Market is experiencing significant trends shaped by various factors. One notable trend is the increasing adoption of advanced manufacturing technologies like automation and robotics. This shift is driven by the need for efficiency, precision, and reduced production costs, allowing manufacturers to enhance productivity while maintaining quality.

    Additionally, there has been a growing focus on sustainable practices within the industry, with many companies working towards reducing their carbon footprint. This trend is supported by government initiatives promoting green manufacturing processes and renewable energy usage, aligning with India's commitment to environmental sustainability.

    India Metal Forging Market Drivers

    Market Segment Insights

    Metal Forging Market Raw Material Insights

    The Raw Material segment of the India Metal Forging Market plays a pivotal role in the overall industry, serving as the backbone for various forging processes that are integral to manufacturing sectors. This segment encompasses several key materials, including Steel, Aluminum, Magnesium, Nickel-Based Alloys, and Titanium, each contributing significantly to the market's diversity and functionality. Steel is widely recognized for its strength and durability, making it the most utilized material in metal forging. Its versatility caters to numerous applications, from automotive components to heavy machinery parts, which underscores its dominance in the market.

    Aluminum, on the other hand, is known for its lightweight nature and exceptional corrosion resistance, which is essential in industries such as aerospace and automotive, where reducing weight can lead to significant energy savings. The demand for Aluminum has increased due to its excellent formability and ability to be recycled efficiently, aligning with the growing trend of sustainability in manufacturing. Magnesium, another significant material, is valued for its low density and high strength-to-weight ratio, which makes it ideal for lightweight applications in the automotive sector.

    Nickel-Based Alloys are gaining traction due to their excellent mechanical properties and corrosion resistance at high temperatures, making them suitable for the chemical processing and aerospace industries. Titanium, although more expensive, offers unparalleled strength and corrosion resistance, which attracts industries that require high-performance materials, such as aerospace and medical. The diverse applications and advantages of these materials reflect a growing market with opportunities for innovation and development, influenced by the expanding industrial landscape in India.

    In tandem with the rising economic activities and the government's initiatives to promote manufacturing through programs like "Make in India," the Raw Material segment is expected to experience substantial growth. The increasing focus on Research and Development efforts to enhance material characteristics and the adaptation of advanced manufacturing technologies will further bolster the India Metal Forging Market. However, challenges such as fluctuating raw material prices and supply chain disruptions can impact overall growth. Thus, stakeholders must closely monitor market shifts to leverage emerging opportunities in this dynamic segment while navigating the inherent challenges.

    The importance of the Raw Material segment is underscored by its foundational role in driving innovations that align with the evolving demands of the industry. The market remains highly competitive, with the potential for new product developments fueled by advancements in metalworking technologies and an increasing emphasis on sustainability, efficiency, and performance across industries.

    Metal Forging Market Type Insights

    The India Metal Forging Market has been significantly influenced by its various types, primarily including Closed-die Forging, Open-die Forging, and Others. Closed-die Forging remains a crucial technique in this market, known for producing precise shapes and minimizing waste, thus enhancing the efficiency of operations in the automotive and aerospace sectors. On the other hand, Open-die Forging is widely utilized for large components and is associated with applications in marine, oil, gas, and heavy machinery industries, providing flexibility in shaping materials of diverse sizes and weights.

    The Others segment encompasses various specialized forging processes, catering to niche applications like artistic ironwork or unique engineering requirements. The diversity in techniques reflects the adaptability of the India Metal Forging Market industry to meet the evolving demands of several sectors, including manufacturing and construction. Moreover, the adoption of advanced technologies, increasing investments in infrastructure, and the push for lightweight materials are pivotal growth drivers for these segments as industries aim for efficiency and innovation.

    Overall, the segmentation highlights how specific forging types cater to unique industry needs and contribute to the overarching growth narrative of the India Metal Forging Market.

    Metal Forging Market End-use Insights

    The End-use segment of the India Metal Forging Market is diverse, encompassing various industries that significantly contribute to the economy. The automotive sector is a major driver of market growth, as the demand for lightweight, high-strength components continues to rise with the automotive boom in India. Equally important, the Aerospace and Defense sector benefits from advancements in technology, which necessitate precision-engineered parts that adhere to stringent quality standards. Within this segment, the Aircraft Engine category is crucial, requiring high-performance materials capable of withstanding extreme conditions during flight.

    Additionally, sectors like Power and Building and Construction are leveraging forged components for infrastructure development, where durability and strength are paramount. The Oil and Gas industry represents another vital area, utilizing forged products for critical applications in exploration and production. Metalworking plays a supportive role, providing essential tooling and equipment necessary for various manufacturing processes. Together, these industries reflect the broad scope of applications within the India Metal Forging Market, highlighting its significance across the Indian industrial landscape and emphasizing the growing demand for higher quality and more efficient forged components.

    Get more detailed insights about India Metal Forging Market Research Report - Forecast till 2035

    Regional Insights

    Key Players and Competitive Insights

    The India Metal Forging Market is characterized by its dynamic and rapidly evolving competitive landscape, driven by the increasing demand from various end-use industries such as automotive, aerospace, and construction. This market segment is expanding due to technological innovations and the necessity for high-quality forged products. Key players are continually focusing on enhancing manufacturing capabilities, adopting advanced forging techniques, and optimizing supply chain management to gain a competitive edge.

    The complexity of the market, influenced by factors such as material costs, economic fluctuations, and regulatory frameworks, leads to an environment where companies must be agile and adaptable to maintain or improve their market position.

    A diverse range of players, from small-scale firms to large organizations, contribute to the intensity of competition, with many vying for market share in this lucrative sector. Gujarat Forging has established a solid presence in the India Metal Forging Market by leveraging its extensive experience and expertise in manufacturing forged components. The company has been recognized for its robust production capabilities, enabling it to deliver a wide variety of products that meet stringent quality standards and customer specifications. Their strategic approach emphasizes investment in modern technologies and continuous improvement initiatives to enhance operational efficiency.

    The strength of Gujarat Forging lies in its dedicated workforce and commitment to customer satisfaction, which fosters long-term relationships with clients across multiple sectors. Furthermore, the company's ability to adapt to changing market demands positions it favorably for sustained growth within the competitive landscape of metal forging in India.

    Raghavendra Forgings has carved out a notable presence in the India Metal Forging Market by focusing on high-quality products and exceptional service delivery. The company offers a range of key products, including precision-forged components that cater to automotive, industrial machinery, and heavy engineering sectors. Raghavendra Forgings is well-regarded for its advanced manufacturing capabilities and technical expertise, which allows it to innovate and meet the specific needs of its clients effectively. With a strong emphasis on quality assurance and rigorous testing, the company ensures that its products consistently uphold the highest standards.

    In addition to expanding its product portfolio, Raghavendra Forgings has actively pursued strategic mergers and acquisitions to enhance its market reach and operational capabilities, further solidifying its competitive position in the Indian metal forging landscape. The combination of these strengths enables Raghavendra Forgings to remain a key player in the market, responding adeptly to evolving consumer demands and technological advancements.

    Key Companies in the India Metal Forging Market market include

    Industry Developments

    Market Segmentation

    Metal Forging Market Type Outlook

    • Closed-die Forging
    • Open-die Forging
    • Others

    Metal Forging Market End-use Outlook

    • Automotive
    • Aerospace & Defense
    • Aircraft Engine
    • Others
    • Power
    • Building & Construction
    • Oil & Gas
    • Metalworking

    Metal Forging Market Raw Material Outlook

    • Steel
    • Aluminum
    • Magnesium
    • Nickel-Based Alloys
    • Titanium
    • Other

    Report Scope

    Report Attribute/Metric Details
    Market Size 2023 10.14(USD Billion)
    Market Size 2024 10.94(USD Billion)
    Market Size 2035 26.48(USD Billion)
    Compound Annual Growth Rate (CAGR) 8.368% (2025 - 2035)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2019 - 2024
    Market Forecast Units USD Billion
    Key Companies Profiled Gujarat Forging, Raghavendra Forgings, Jaya Hind Industries, Minda Industries, Mahindra Forgings, Foseco India, AHLUWALIA CONTRACTS, Lloyds Metals and Energy, Sree Sakthi Paper Mills, Bharat Forge, Umrer Forgings, Saurashtra Forgings, Kothari Ferrous, Precision Camshafts
    Segments Covered Raw Material, Type, End-use
    Key Market Opportunities Increased automotive production, Growing aerospace sector demand, Rising infrastructure development projects, Expansion of renewable energy sector, Advancements in forging technologies
    Key Market Dynamics Growing automotive industry, Increasing demand for lightweight materials, Rising infrastructure projects, Technological advancements in forging processes, Export opportunities for forged products
    Countries Covered India

    Market Highlights

    Author
    Chitranshi Jaiswal
    Research Analyst Level I

    In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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    FAQs

    What is the projected market size of the India Metal Forging Market for 2024?

    The projected market size of the India Metal Forging Market for 2024 is valued at 10.94 USD Billion.

    How much is the India Metal Forging Market expected to be worth by 2035?

    By 2035, the India Metal Forging Market is expected to be valued at 26.48 USD Billion.

    What is the expected compound annual growth rate (CAGR) for the India Metal Forging Market from 2025 to 2035?

    The expected CAGR for the India Metal Forging Market from 2025 to 2035 is 8.368%.

    Which raw material segment is projected to hold the largest market value in 2024?

    In 2024, the Steel raw material segment is projected to hold the largest market value at 4.0 USD Billion.

    What is the market value of the Aluminum segment in 2035?

    The market value of the Aluminum segment is expected to reach 6.05 USD Billion by 2035.

    Which companies are considered key players in the India Metal Forging Market?

    Some key players in the India Metal Forging Market include Bharat Forge, Mahindra Forgings, and Gujarat Forging.

    What is the market value for the Magnesium segment in 2024?

    The market value for the Magnesium segment in 2024 is valued at 1.25 USD Billion.

    How much is the Nickel-Based Alloys segment expected to be valued in 2035?

    The Nickel-Based Alloys segment is expected to be valued at 2.55 USD Billion in 2035.

    What are some of the growth drivers for the India Metal Forging Market?

    Key growth drivers for the India Metal Forging Market include rising demand from the automotive and aerospace sectors.

    What is the projected market value for the Titanium raw material segment in 2024?

    The projected market value for the Titanium raw material segment in 2024 is 2.19 USD Billion.

    1. 'TABLE OF CONTENTS
    2. EXECUTIVE SUMMARY
    3. Market Overview
      1. Key Findings
      2. Market Segmentation
    4. Competitive Landscape
      1. Challenges and Opportunities
      2. Future Outlook
    5. MARKET INTRODUCTION
      1. Definition
      2. Scope of the study
        1. Research Objective
        2. Assumption
        3. Limitations
    6. RESEARCH METHODOLOGY
      1. Overview
    7. Data Mining
      1. Secondary Research
      2. Primary Research
    8. Primary Interviews and Information Gathering Process
      1. Breakdown of Primary
    9. Respondents
      1. Forecasting Model
      2. Market Size Estimation
    10. Bottom-Up Approach
      1. Top-Down Approach
      2. Data Triangulation
      3. Validation
    11. MARKET DYNAMICS
      1. Overview
      2. Drivers
      3. Restraints
      4. Opportunities
    12. MARKET FACTOR ANALYSIS
      1. Value chain Analysis
      2. Porter''s Five Forces
    13. Analysis
      1. Bargaining Power of Suppliers
        1. Bargaining Power
    14. of Buyers
      1. Threat of New Entrants
        1. Threat of Substitutes
        2. Intensity of Rivalry
      2. COVID-19 Impact Analysis
    15. Market Impact Analysis
      1. Regional Impact
        1. Opportunity and
    16. Threat Analysis
    17. INDIA METAL FORGING MARKET, BY RAW MATERIAL
    18. (USD BILLION)
      1. Steel
      2. Aluminium
      3. Magnesium
    19. Nickel-Based Alloys
      1. Titanium
      2. Other
    20. INDIA METAL FORGING
    21. MARKET, BY TYPE (USD BILLION)
      1. Closed-die Forging
      2. Open-die
    22. Forging
      1. Others
    23. INDIA METAL FORGING MARKET, BY END-USE (USD BILLION)
      1. Automotive
      2. Aerospace & Defense
      3. Aircraft Engine
      4. Others
      5. Power
      6. Building & Construction
    24. Oil & Gas
      1. Metalworking
    25. COMPETITIVE LANDSCAPE
      1. Overview
      2. Competitive Analysis
      3. Market share Analysis
      4. Major Growth Strategy in the Metal Forging Market
      5. Competitive
    26. Benchmarking
      1. Leading Players in Terms of Number of Developments in the
    27. Metal Forging Market
      1. Key developments and growth strategies
    28. New Product Launch/Service Deployment
      1. Merger & Acquisitions
        1. Joint Ventures
      2. Major Players Financial Matrix
        1. Sales
    29. and Operating Income
      1. Major Players R&D Expenditure. 2023
    30. COMPANY PROFILES
      1. Gujarat Forging
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      2. Raghavendra Forgings
        1. Financial
    31. Overview
      1. Products Offered
        1. Key Developments
    32. SWOT Analysis
      1. Key Strategies
      2. Jaya Hind Industries
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      3. Minda Industries
        1. Financial Overview
        2. Products Offered
        3. Key
    33. Developments
      1. SWOT Analysis
        1. Key Strategies
    34. Mahindra Forgings
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
        4. Key Strategies
      2. Foseco India
        1. Financial Overview
        2. Products
    35. Offered
      1. Key Developments
        1. SWOT Analysis
    36. Key Strategies
      1. AHLUWALIA CONTRACTS
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT
    37. Analysis
      1. Key Strategies
      2. Lloyds Metals and Energy
    38. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Sree Sakthi
    39. Paper Mills
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
        4. Key Strategies
      2. Bharat Forge
        1. Financial Overview
        2. Products
    40. Offered
      1. Key Developments
        1. SWOT Analysis
    41. Key Strategies
      1. Umrer Forgings
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT
    42. Analysis
      1. Key Strategies
      2. Saurashtra Forgings
    43. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Kothari
    44. Ferrous
      1. Financial Overview
        1. Products Offered
    45. Key Developments
      1. SWOT Analysis
        1. Key Strategies
      2. Precision Camshafts
        1. Financial Overview
        2. Products
    46. Offered
      1. Key Developments
        1. SWOT Analysis
    47. Key Strategies
    48. APPENDIX
      1. References
      2. Related Reports
    49. METAL FORGING MARKET SIZE ESTIMATES & FORECAST, BY RAW MATERIAL, 2019-2035 (USD
    50. BILLIONS)
    51. BY TYPE, 2019-2035 (USD BILLIONS)
    52. ESTIMATES & FORECAST, BY END-USE, 2019-2035 (USD BILLIONS)
    53. LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
    54. FORGING MARKET ANALYSIS BY RAW MATERIAL
    55. ANALYSIS BY TYPE
    56. PROCESS OF MRFR
    57. DRIVERS IMPACT ANALYSIS: METAL FORGING MARKET
    58. ANALYSIS: METAL FORGING MARKET
    59. MARKET
    60. METAL FORGING MARKET, BY TYPE, 2019 TO 2035 (USD Billions)
    61. FORGING MARKET, BY END-USE, 2025 (% SHARE)
    62. BY END-USE, 2019 TO 2035 (USD Billions)

    India Metal Forging Market Segmentation

     

     

     

    • Metal Forging Market By Raw Material (USD Billion, 2019-2035)

      • Steel
      • Aluminium
      • Magnesium
      • Nickel-Based Alloys
      • Titanium
      • Other

    • Metal Forging Market By Type (USD Billion, 2019-2035)

      • Closed-die Forging
      • Open-die Forging
      • Others

    • Metal Forging Market By End-use (USD Billion, 2019-2035)

      • Automotive
      • Aerospace & Defense
      • Aircraft Engine
      • Others
      • Power
      • Building & Construction
      • Oil & Gas
      • Metalworking

     

     

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