What this market covers
Shaping of heated or cold metal with presses and hammers into strong parts for cars, aircraft, energy and machinery. Buyers are vehicle makers, aerospace firms and equipment builders.
Typical segments
- Closed die forging
- Open die forging
- Ring rolling
- Cold forging
Why this market is moving now
- World trade shrank 2% from 2019 to 2024, a direct read on cross-border demand.
- India is gaining ground: its exports rose 60% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of forging (HS 732619) were worth $3.97 billion in 2024. | 3.97 USD billion | 2024 | |
| World exports were 2% lower in 2024 than in 2019 ($4.05 billion), calculated from the annual totals. | -2 % since 2019 | 2024 | |
| China was the largest exporter in 2024, with 19% of world exports ($741.4 million). | 19 % of world exports | 2024 | |
| The three largest exporters, China, the United States and Italy, shipped 39% of world exports in 2024. | 39 % of world exports | 2024 | |
| The United States was the largest importer in 2024, buying $529.9 million, or 13% of world imports. | 13 % of world imports | 2024 | |
| 59 countries exported more than $1 million of this product in 2024. | 59 countries | 2024 | |
| The average world export price was about $4.75 per kilogram in 2024, calculated from value and weight. | 4.75 USD per kg | 2024 | |
| Countries exported 835.0 thousand tonnes of this product in 2024. | 835.0 thousand tonnes | 2024 | |
| Among the ten largest exporters, India grew fastest, with exports up 60% from 2019 to 2024. | +60 % since 2019 | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Automotive makers
- Aerospace firms
- Oil and gas equipment makers
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global forging market?
There is no single official market total. World exports of HS 732619 reached $3.97 billion in 2024, a direct measure of cross-border trade.
Which countries export the most forging?
China led world exports in 2024 with 19% of the total, followed by the United States, Italy and India.
Which countries import the most forging?
The United States was the largest importer in 2024, followed by Mexico, Germany and France.
Is world trade in forging growing?
World exports were 2% lower in 2024 than in 2019.
What is the average export price of forging?
Dividing world export value by weight gives about $4.75 per kilogram in 2024.
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