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India Metal Forging Market

India Metal Forging Market 9.8 CAGR Growth Outlook 2025-2033

India Metal Forging Market by Material (Carbon Steel, Alloy Steel, Stainless Steel, Others (Titanium, Aluminum Alloys, Nickel), by Technique (Close Die Forging, Open Die Forging, Ring Forging), by Installation Capacity (Small (100 MT to 12, 500 MT), by Forecast 2026-2034

Oct 17 2025

Base Year: 2025

120 Pages

India Metal Forging Market 9.8 CAGR Growth Outlook 2025-2033

Key Insights

The India Metal Forging Market size was valued at USD 4.43 USD Billion in 2023 and is projected to reach USD 8.52 USD Billion by 2032, exhibiting a CAGR of 9.8 % during the forecast period. In India, the shaping of metal processes mainly has its process which involves the simultaneous formation as well as the shape of the components generally in an extensive temperature by the use of compressive force which may be generally applied to impart the metal with the presumable strength and durability. The magnificent results of forging metal are broadly utilized in the manufacturing of automotive, airspace, defense, and production fields where the parts should be very accurate in manufacturing. In most cases, the spare parts are the crankshafts, gears, axles, and engine features. The recent times quite a revolution has been coming in the India’s metal forging sector, where the modernization, the automatization and the digitalization are the most recent trends that are all targeted at improving efficiency and quality. Indigenous die-forging elements which are present in the working of the product include dies, presses, hammers, and furnaces that facilitate the formation of superior quality forged parts. The expanded and diverse industrial sector in India coupled with the increasing modernization of the domains builds a solid foundation for the expected rise in the demand of the steel forging market segments since allocated parts made of metal are broadly used in different areas of the industry to make sure these segments run smoothly and have a long life and efficient performance.

India Metal Forging Trends

Increasing adoption of metal forging in the automotive sector for the production of components such as crankshafts, connecting rods, and gears.
Growing demand for metal forging in the industrial sector for the production of components such as valves, pumps, and flanges.
Adoption of advanced forging techniques such as closed die forging and open die forging to improve the quality and efficiency of the forging process.

India Metal Forging Market Market Size and Forecast (2024-2030) — India Metal Forging Market Company Market Share

Driving Forces: What's Propelling the India Metal Forging Market

Exponential growth in India's automotive industry, with a surge in production volumes.
Massive investments in infrastructure development projects, creating demand for forged components used in construction machinery.
Government policies and schemes aimed at fostering the manufacturing sector, including incentives for the forging industry.
Adoption of cutting-edge technologies such as precision forging and automated forging lines, improving efficiency and productivity.

Challenges and Restraints in India Metal Forging Market

Dependence on imported raw materials: While India has domestic sources, a significant portion of critical raw materials like specialized steel alloys required for high-performance forgings are imported, leading to supply chain vulnerabilities and impacting cost control.
Fluctuating prices of raw materials: Global commodity market volatility directly impacts the cost of steel and other metals, creating pricing unpredictability for forging manufacturers and affecting profit margins.
Competition from global manufacturers: Indian forging companies face stiff competition from established players in developed economies and emerging markets, necessitating a strong focus on quality, cost-effectiveness, and technological advancement.
Skilled Labor Shortage: The industry often grapples with a scarcity of highly skilled labor required for intricate forging processes, precision machining, and quality control, impacting production efficiency and capacity expansion.
Stringent Environmental Regulations: Increasing awareness and implementation of environmental norms related to emissions, waste management, and energy consumption can impose additional compliance costs and operational adjustments on forging units.

Emerging Trends in India Metal Forging

Adoption of Industry 4.0 technologies to improve efficiency and productivity.
Development of new forging alloys and composites.
Growing demand for lightweight forged components.

Growth Catalysts in India Metal Forging Industry

Government's "Make in India" initiative: This flagship program significantly boosts the demand for domestically produced forged components across various sectors, including automotive, defense, and industrial machinery, fostering self-reliance and indigenous manufacturing capabilities.
Growing focus on research and development: Continuous investment in R&D is driving innovation in forging techniques, material science, and process optimization, leading to enhanced product quality, lighter-weight components, improved durability, and the development of specialized forgings for niche applications.
Rapidly increasing demand in aerospace and defense sectors: India's ambitious defense modernization programs and growing indigenous aerospace manufacturing capabilities are creating substantial demand for high-precision, critical forged components for aircraft, helicopters, missiles, and naval vessels.
Expansion of the renewable energy sector: The burgeoning renewable energy landscape, particularly wind and solar power, requires a significant volume of robust and reliable forged components for wind turbine shafts, nacelle components, solar panel mounting structures, and other critical infrastructure.
Automotive industry growth: The robust expansion of the Indian automotive sector, coupled with the increasing preference for lighter, stronger, and more fuel-efficient vehicles, drives consistent demand for a wide range of forged automotive components like crankshafts, connecting rods, gears, and suspension parts.
Infrastructure Development: Large-scale infrastructure projects across the country, including railways, highways, and industrial plants, necessitate the use of heavy-duty forged components for machinery, equipment, and structural elements.

Market Segmentation: India Metal Forging Analysis

Material:

Carbon Steel
Alloy Steel
Stainless Steel
Others (Titanium, Aluminum Alloys, and Nickel)

Technique:

Closed Die Forging
Open Die Forging
Ring Forging

Installation Capacity:

Small (100 MT to 12,500 MT)

Leading Players in the India Metal Forging Market

Bharat Forge Limited (India)
CIE Automotive India (India)
MM Forging LTD (India)
Amtek Group (India)
CHW Forge PVT. Ltd. (India)
Bill Forge Private Limited (India)
Western India Forgings Pvt. Ltd. (India)
Unique Forging PVT. LTD. (India)
Chennai Forge Products PVT. LTD (India)
Ramkrishna Forgings Limited (India)

Significant developments in India Metal Forging Sector

May 2022 - Mahindra and Mahindra signed a partnership agreement with Volkswagen to explore equipping its electric cars with motors, battery system components, and cells made by the German automaker. The partnership was aimed on achieving faster growth in the segment.
May 2022- Ramkrishna Forgings Limited received a multi-year contract order worth USD 13.5 million per annum from the leading manufacturer of chassis-related systems and components primarily for trailers and trailers, trucks, and buses in the U.S.
April 2022 - Ramkrishna Forgings Limited won an export order with an estimated business value of USD 4.35 million over five years from Europe's leading Tier-1 axle manufacturer for the Front Axle Business.
April 2022 - Ramkrishna Forgings Limited and Euroasian OEM signed a contract with a valuation of USD 17.8 million or the Heavy Duty Commercial Vehicle Crank Shafts Business to be executed in the next five years.
February 2022 - Bharat Forge Limited announced that it had agreed to acquire JS Autocast Foundry India. The acquisition would enable Bharat Forge to expand its product portfolio in the industrial sector, customer base, and manufacturing presence in South India. Bharat Forge would acquire JS Auto for an upfront consideration plus a fixed deferred payment at the end of 3rd year.

Comprehensive Coverage India Metal Forging Market Report

The "India Metal Forging Market - Forecast and Analysis 2023-2032" report provides a detailed analysis of the market, including market size, growth trends, drivers, challenges, and key players. The report also provides a comprehensive analysis of the competitive landscape, including company profiles and market shares.

Regional Insight

The India Metal Forging Market is segmented into the following regions, each with its unique industrial landscape and growth drivers:

North India: Characterized by a strong presence of automotive ancillaries, defense manufacturing units, and a growing industrial base, contributing significantly to the demand for various forged components.
South India: A hub for automotive manufacturing, aerospace, and defense industries, with a well-established ecosystem of component suppliers and a high demand for precision-engineered forgings.
East India: Home to a significant number of heavy engineering and infrastructure projects, as well as emerging automotive and defense manufacturing, driving the demand for specialized and large-scale forged products.
West India: A leading industrial powerhouse with a dominant presence in automotive, heavy machinery, and defense sectors, boasting a mature forging industry and a high demand for both standard and custom-made forged components.

India Metal Forging Market Market Share by Region - Global Geographic Distribution — India Metal Forging Market Regional Market Share

Consumer Side Analysis

The consumer side analysis includes the following:

Consumer buying behavior
Consumer preferences
Consumer demographics

Demand Side Analysis

The demand side analysis includes the following:

Demand drivers
Demand trends
Demand forecasts

Import And Export Analysis

The import and export analysis includes the following:

Import trends
Export trends
Trade balance

Pricing Strategies

The pricing strategies analysis includes the following:

Pricing models
Pricing trends
Competitive pricing

Segmentation

The segmentation analysis includes the following:

Market segmentation by product (Carbon Steel), (Stainless Steel), (Aluminum Alloys)
Market segmentation by geography
Market segmentation by end-use industry

Geographic Coverage of India Metal Forging Market

Higher Coverage

Lower Coverage

No Coverage

India Metal Forging Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2020-2034
Base Year	2025
Estimated Year	2026
Forecast Period	2026-2034
Historical Period	2020-2025
Growth Rate	CAGR of 9.8% from 2020-2034
Segmentation	By Material Carbon Steel Alloy Steel Stainless Steel Others (Titanium Aluminum Alloys Nickel By Technique Close Die Forging Open Die Forging Ring Forging By Installation Capacity Small (100 MT to 12 500 MT By Geography

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1 Increasing Demand for Forged Products in Power
    - 3.2.2 Agriculture
    - 3.2.3 Aerospace
    - 3.2.4 and Defense to Drive Industry Expansion
- - 3.3. Market Restrains
  - - 3.3.1. Electrification in Automotive Industry to Slow Down the Market Growth
- - 3.4. Market Trends
  - - 3.4.1. Rising Adoption of Automation in Manufacturing to Drive Market Growth
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. India Metal Forging Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Material
  - 5.1.1. Carbon Steel
  - 5.1.2. Alloy Steel
  - 5.1.3. Stainless Steel
  - 5.1.4. Others (Titanium
  - 5.1.5. Aluminum Alloys
  - 5.1.6. Nickel
- 5.2. Market Analysis, Insights and Forecast - by Technique
  - 5.2.1. Close Die Forging
  - 5.2.2. Open Die Forging
  - 5.2.3. Ring Forging
- 5.3. Market Analysis, Insights and Forecast - by Installation Capacity
  - 5.3.1. Small (100 MT to 12
  - 5.3.2. 500 MT
- 5.4. Market Analysis, Insights and Forecast - by Region
  - 5.4.1.
6. Competitive Analysis
- 6.1. Market Share Analysis 2025
- - 6.2. Company Profiles
  - - 6.2.1 Bharat Forge Limited (India)
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 CIE Automotive India (India)
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 MM Forging LTD (India)
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 Amtek Group (India)
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 CHW Forge PVT. Ltd. (India)
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 Bill Forge Private Limited (India)
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 Western India Forgings Pvt. Ltd. (India)
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Unique Forging PVT. LTD. (India)
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 Chennai Forge Products PVT. LTD (India)
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 RAMKRISHNA FORGINGS LIMITED (India)
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)

List of Figures

Figure 1: India Metal Forging Market Revenue Breakdown (USD Billion, %) by Product 2025 & 2033
Figure 2: India Metal Forging Market Share (%) by Company 2025

List of Tables

Table 1: India Metal Forging Market Revenue USD Billion Forecast, by Material 2020 & 2033
Table 2: India Metal Forging Market Volume Thousand Ton Forecast, by Material 2020 & 2033
Table 3: India Metal Forging Market Revenue USD Billion Forecast, by Technique 2020 & 2033
Table 4: India Metal Forging Market Volume Thousand Ton Forecast, by Technique 2020 & 2033
Table 5: India Metal Forging Market Revenue USD Billion Forecast, by Installation Capacity 2020 & 2033
Table 6: India Metal Forging Market Volume Thousand Ton Forecast, by Installation Capacity 2020 & 2033
Table 7: India Metal Forging Market Revenue USD Billion Forecast, by Region 2020 & 2033
Table 8: India Metal Forging Market Volume Thousand Ton Forecast, by Region 2020 & 2033
Table 9: India Metal Forging Market Revenue USD Billion Forecast, by Material 2020 & 2033
Table 10: India Metal Forging Market Volume Thousand Ton Forecast, by Material 2020 & 2033
Table 11: India Metal Forging Market Revenue USD Billion Forecast, by Technique 2020 & 2033
Table 12: India Metal Forging Market Volume Thousand Ton Forecast, by Technique 2020 & 2033
Table 13: India Metal Forging Market Revenue USD Billion Forecast, by Installation Capacity 2020 & 2033
Table 14: India Metal Forging Market Volume Thousand Ton Forecast, by Installation Capacity 2020 & 2033
Table 15: India Metal Forging Market Revenue USD Billion Forecast, by Country 2020 & 2033
Table 16: India Metal Forging Market Volume Thousand Ton Forecast, by Country 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the India Metal Forging Market?

The projected CAGR is approximately 9.8%.

2. Which companies are prominent players in the India Metal Forging Market?

Key companies in the market include Bharat Forge Limited (India), CIE Automotive India (India), MM Forging LTD (India), Amtek Group (India), CHW Forge PVT. Ltd. (India), Bill Forge Private Limited (India), Western India Forgings Pvt. Ltd. (India), Unique Forging PVT. LTD. (India), Chennai Forge Products PVT. LTD (India), RAMKRISHNA FORGINGS LIMITED (India).

3. What are the main segments of the India Metal Forging Market?

The market segments include Material, Technique, Installation Capacity.

4. Can you provide details about the market size?

The market size is estimated to be USD 4.43 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Increasing Demand for Forged Products in Power. Agriculture. Aerospace. and Defense to Drive Industry Expansion.

6. What are the notable trends driving market growth?

Rising Adoption of Automation in Manufacturing to Drive Market Growth.

7. Are there any restraints impacting market growth?

Electrification in Automotive Industry to Slow Down the Market Growth.

8. Can you provide examples of recent developments in the market?

May 2022 - Mahindra and Mahindra signed a partnership agreement with Volkswagen to explore equipping its electric cars with motors, battery system components, and cells made by the German automaker. The partnership was aimed on achieving faster growth in the segment.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 2850, USD 3850, and USD 4850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in Thousand Ton.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "India Metal Forging Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the India Metal Forging Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the India Metal Forging Market?

To stay informed about further developments, trends, and reports in the India Metal Forging Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

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