Metal Forging Market 2030: The Rise of Lightweight Materials in Industry
Metal Forging Market Growth & Trends The global metal forging market size is expected to reach USD 145.46 billion by 2030, expanding at a CAGR of 7.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. Rising awareness about climate change and increasing investment in renewables, especially in wind and hydro, by governments is expected to boost the consumption of forged components. Thus, this investment is expected to propel the product demand during the forecast period. For instance, in October 2021, the U.S government unveiled plans to build up to 7 major offshore wind farms. The government is targeting to produce 30 gigawatts of wind power by 2030. Similarly, in April 2022, the government of the country announced that it is planning to develop a 40 GW offshore wind project by 2050 that is expected to spread over 50 wind farms. Metal forging is the process, in which metals are shaped and formed using compressive force. These forces are applied us...