India Metal Forging Market Forecast: Size, Share, Industry Trends, Analysis, Growth Report 2025-2033
According to the latest report by IMARC Group, titled "India Metal Forging Market Report by Material (Carbon Steel, Alloy Steel, Stainless Steel, Others), Technique (Close Die Forging, Open Die Forging, Ring Forging), Installation Capacity (Small (100 MT to 12,500 MT), Medium (12,500 MT to 30,000 MT), Heavy (Above 30,000 MT)), End User (Automotive, Aerospace and Defense, Railway, Industrial Machinery, Marine, Others), and Region 2025-2033," the report presents a thorough review featuring the India Metal Forging Market forecast, growth, share and research of the industry.
Market Size & Future Growth Potential:
The India metal forging market size reached USD 3.36 Billion in 2024 and expects the market to reach USD 6.01 Billion by 2033, exhibiting a growth rate (CAGR) of 6.18% during 2025-2033.
Latest Market Trends:
The market is experiencing dynamic growth driven by the automotive sector's robust expansion, which remains a cornerstone for forged component demand. India produced approximately 22.93 million vehicles during fiscal year 2021-22, demonstrating the substantial scale of automotive manufacturing that relies heavily on forged parts for engines, transmissions, and structural components. The passenger vehicle segment witnessed a strong recovery with sales increasing by 13.24% in 2021-22 compared to the previous year, as reported by the Society of Indian Automobile Manufacturers.
In addition to this, technological transformation is reshaping the industry landscape as leading manufacturers embrace Industry 4.0 principles. Companies are integrating computer numerical control machines, automation systems, and data analytics into their production lines to enhance efficiency and precision. This shift toward smart manufacturing is particularly evident among major players like Bharat Forge and Sansera, who have pioneered advanced forging technologies in their operations.
Moreover, the electric mobility revolution is creating fresh opportunities for the forging sector, as manufacturers develop specialized components for electric vehicle powertrains and battery systems. The growing emphasis on lightweight yet high-strength materials is pushing forging companies to invest heavily in aluminum and advanced alloy production capabilities. At the same time, the aerospace and defense sectors are driving demand for precision-forged components made from specialized materials like titanium alloys and stainless steel, meeting the stringent quality standards required for critical applications.
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Market Scope and Growth Factors:
The scope of the market is expanding significantly as India positions itself as a global manufacturing hub for forged components. The government's "Atmanirbhar Bharat" initiative is accelerating domestic production capabilities and reducing dependence on imports, creating a favorable environment for forging industry growth. The Production Linked Incentive program for the automotive sector, with an outlay of INR 57,042 crore, is expected to generate investments exceeding INR 42,500 crore in vehicle and auto component manufacturing over five years, directly benefiting the forging industry.
The market scope is further broadened by massive infrastructure investments under the National Infrastructure Pipeline, which allocates INR 111 lakh crore for infrastructure development during 2019-2025. This unprecedented infrastructure push is creating substantial demand for forged components used in construction equipment, machinery, and railway infrastructure. The implementation of the Goods and Services Tax has streamlined taxation processes, reducing operational complexities and improving cost-effectiveness for forging manufacturers.
Additionally, government support for the Micro, Small, and Medium Enterprises sector through schemes like the Emergency Credit Line Guarantee Scheme, with an outlay of INR 3 lakh crore, has provided crucial liquidity to smaller forging companies. This financial support ensures business continuity and enables capacity expansion among MSMEs, which constitute a significant portion of India's forging industry. The focus on research and development is driving innovations in forging techniques, material science, and production processes, allowing Indian manufacturers to compete effectively in international markets while meeting the evolving requirements of diverse end-user industries.
Recent News and Developments:
The Indian forging industry is witnessing increased adoption of precision forging technologies and automation systems by leading manufacturers, enabling them to produce high-quality components with tighter tolerances and improved material utilization.
Major forging companies are making substantial investments in aluminum forging production facilities to meet the rising global demand for lightweight forged components, particularly for electric vehicle applications and aerospace sectors.
Industry leaders are implementing collaborative research initiatives with suppliers and technology partners to accelerate the development of advanced forging solutions and next-generation materials.
Several forging manufacturers are expanding their production capacities in response to growing orders from the defense and aerospace sectors, which require specialized high-strength forgings made from advanced alloys.
The industry is experiencing a gradual shift toward sustainable manufacturing practices, with companies investing in energy-efficient equipment and processes to reduce their environmental footprint while maintaining production quality.
Comprehensive Market Report Highlights & Segmentation Analysis:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India metal forging market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Segmentation by Material:
Carbon Steel
Alloy Steel
Stainless Steel
Others
Segmentation by Technique:
Close Die Forging
Open Die Forging
Ring Forging
Segmentation by Installation Capacity:
Small (100 MT to 12,500 MT)
Medium (12,500 MT to 30,000 MT)
Heavy (Above 30,000 MT)
Segmentation by End User:
Automotive
Aerospace and Defense
Railway
Industrial Machinery
Marine
Others
Segmentation by Region:
North India
South India
East India
West India
Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key highlights of the Report:
Historical Market Performance
Future Market Projections
Impact of COVID-19 on Market Dynamics
Industry Competitive Analysis (Porter's Five Forces)
Market Dynamics and Growth Drivers
SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
Market Ecosystem and Value Creation Framework
Competitive Positioning and Benchmarking Strategies
Major Advantages of the Report:
This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.
Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.
The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.
Why Choose IMARC Group:
Extensive Industry Expertise
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Insightful Data-Driven Analysis
Precise Forecasting Capabilities
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