세계의 단조강 시장 규모는 2024년에 786억 2,000만 달러로 평가되었고, 예측 기간 중 연평균 복합 성장률(CAGR)은 4.53%를 나타낼 전망이며, 2030년에는 1,034억 8,000만 달러에 이를 것으로 예측됩니다.
| 시장 개요 | |
|---|---|
| 예측 기간 | 2026-2030년 |
| 시장 규모 : 2024년 | 786억 2,000만 달러 |
| 시장 규모 : 2030년 | 1,034억 8,000만 달러 |
| CAGR : 2025-2030년 | 4.53% |
| 급성장 부문 | 건설 |
| 최대 시장 | 아시아태평양 |
단조강 시장은 단조 공정을 통해 생산되는 철강 제품의 생산, 유통, 용도에 관련된 전 세계 산업을 의미합니다. 단조강은 강도, 인성, 내피로성 등의 기계적 특성을 향상시키기 위해 망치, 프레스 또는 금형을 사용하여 고압 하에서 강철을 성형하여 만들어집니다. 이 가공을 통해 내부 공극과 가스 포켓을 제거하여 내구성과 신뢰성이 높은 부품을 실현합니다. 단조강은 자동차, 항공우주, 석유 및 가스, 발전, 건설, 중장비 제조 등 가혹한 조건에서 성능이 요구되는 산업에서 널리 사용되고 있습니다. 그 용도는 기어, 샤프트, 크랭크샤프트에서 플랜지, 링, 압력 용기 부품에 이르기까지 다양합니다.
단조강 시장은 여러 수요 측면과 공급 측면의 요인으로 인해 안정적인 상승이 예상됩니다. 수요 측면에서는 세계 인프라 개발 확대, 자동차 생산 증가, 항공우주 분야 확대로 인해 강인하고 탄력적인 부품에 대한 수요가 크게 증가하고 있습니다. 또한, 전기자동차의 보급 확대는 드라이브 트레인 및 서스펜션 시스템에서 경량화 및 고성능 단조 부품에 대한 새로운 요구를 창출하고 있습니다. 또한, 석유 및 가스 산업은 고압 및 부식성 환경을 견딜 수 있는 파이프라인, 시추 공구, 밸브에 대한 단조강에 대한 의존도가 지속되고 있습니다.
공급 측면에서는 자동 단조 시스템, 니어 네트형 단조, 컴퓨터 제어 프로세스 등 단조 기술의 발전으로 생산 효율, 정밀도, 재료 이용률이 향상되고 있습니다. 이를 통해 제조업체는 산업별 표준 및 공차를 충족하는 맞춤형 단조 부품을 제공할 수 있습니다. 또한, 재료의 지속가능성과 수명주기 성능에 대한 관심이 높아지면서 재활용이 가능하고 수명이 긴 단조강 사용을 장려하고 있습니다.
아시아태평양과 중동을 중심으로 한 신흥국들은 산업화, 도시화, 국방비 지출 증가로 인해 시장 성장에 크게 기여할 것으로 예측됩니다. 전반적으로, 단조강 시장은 최종 사용자의 강력한 수요, 기술 혁신, 중요한 산업 응용 분야에서 단조 부품의 중요한 역할에 힘입어 장기적으로 확대될 것으로 예측됩니다.
자동차 산업 수요 증가
원자재 가격 변동과 공급망 혼란
재생에너지 및 전기자동차 분야 수요 증가
Global Forged Steel Market was valued at USD 78.62 billion in 2024 and is expected to reach USD 103.48 billion by 2030 with a CAGR of 4.53% during the forecast period.
| Market Overview | |
|---|---|
| Forecast Period | 2026-2030 |
| Market Size 2024 | USD 78.62 Billion |
| Market Size 2030 | USD 103.48 Billion |
| CAGR 2025-2030 | 4.53% |
| Fastest Growing Segment | Construction |
| Largest Market | Asia Pacific |
The Forged Steel Market refers to the global industry involved in the production, distribution, and application of steel products manufactured through the forging process. Forged steel is created by shaping steel under high pressure using hammers, presses, or dies to enhance its mechanical properties such as strength, toughness, and fatigue resistance. This process eliminates internal voids and gas pockets, resulting in highly durable and reliable components. Forged steel is widely utilized in industries that demand performance under extreme conditions, including automotive, aerospace, oil and gas, power generation, construction, and heavy machinery manufacturing. Its application ranges from gears, shafts, and crankshafts to flanges, rings, and pressure vessel components.
The Forged Steel Market is expected to rise steadily due to multiple demand-side and supply-side factors. On the demand side, the growing global infrastructure development, increasing automotive production, and expanding aerospace sector are significantly driving the need for strong and resilient components. The rise in electric vehicle adoption is also generating new requirements for lightweight, high-performance forged parts in drivetrains and suspension systems. Furthermore, the oil and gas industry continues to rely on forged steel for pipelines, drilling tools, and valves that can withstand high pressure and corrosive environments.
On the supply side, advancements in forging technology-such as automated forging systems, near-net-shape forging, and computer-controlled processes-are enhancing production efficiency, precision, and material utilization. This enables manufacturers to deliver customized forged components that meet industry-specific standards and tolerances. Additionally, the growing emphasis on material sustainability and lifecycle performance is encouraging the use of forged steel due to its recyclability and long service life.
Emerging economies, particularly in Asia Pacific and the Middle East, are expected to contribute significantly to market growth due to increasing industrialization, urbanization, and defense spending. Overall, the Forged Steel Market is well-positioned for long-term expansion, supported by strong end-user demand, technological innovation, and the essential role of forged components in critical industrial applications.
Key Market Drivers
Increasing Demand from Automotive Industry Propels Forged Steel Market Growth
The automotive industry's robust growth is a primary driver for the Forged Steel Market, as forged steel components are critical for manufacturing high-strength, durable parts essential for vehicle safety and performance. Forged steel is widely used in producing engine components, transmission systems, crankshafts, connecting rods, and chassis parts due to its superior mechanical properties, including high tensile strength and fatigue resistance. The global surge in vehicle production, particularly in emerging economies like China and India, fuels demand for forged steel, as automakers prioritize lightweight, high-strength materials to meet fuel efficiency and emission standards.
For instance, regulations like the Euro 7 emissions standards in Europe and India's Bharat Stage VI norms require advanced engine designs, increasing reliance on forged steel for precision components. The rise of electric vehicles (EVs) further amplifies this demand, as EV powertrains require specialized forged parts like gears and axles to handle high torque and stress. The automotive sector's focus on reducing vehicle weight to enhance efficiency drives innovation in forging processes, such as precision forging, which minimizes material waste and enhances component performance. Additionally, the trend toward autonomous vehicles necessitates reliable, high-quality forged components to ensure safety in advanced driver-assistance systems (ADAS).
The Asia-Pacific region, accounting for a significant share of global vehicle production, leads in forged steel consumption, with China producing over 27 million vehicles annually. The shift toward sustainable manufacturing also encourages automakers to invest in forged steel, as it offers recyclability and durability, aligning with environmental goals. As global automotive production continues to grow, driven by rising consumer demand and technological advancements, the Forged Steel Market is poised for sustained expansion, supported by the industry's need for high-performance, cost-effective materials to meet stringent regulatory and performance requirements.
In 2024, global automotive production reached 92 million vehicles, with approximately 65% of vehicles incorporating forged steel components for critical systems like engines and transmissions. China alone accounted for 27.8 million vehicles, with over 18 million using forged steel parts, reflecting a 12% increase in demand from 2023. In India, 4.5 million vehicles utilized forged steel, driven by compliance with Bharat Stage VI norms, contributing to 8,000 metric tons of forged steel consumption.
Key Market Challenges
Volatility in Raw Material Prices and Supply Chain Disruptions
One of the most critical challenges faced by the global Forged Steel Market is the persistent volatility in the prices of raw materials, particularly iron ore, steel scrap, and alloying elements such as nickel, chromium, and molybdenum. These materials form the foundational inputs for producing forged steel products, and any significant fluctuation in their cost structure can directly impact manufacturing profitability, pricing strategies, and long-term production planning. The global steel supply chain remains highly sensitive to geopolitical tensions, environmental policies, currency fluctuations, and trade regulations. For instance, unexpected sanctions on key steel-producing nations or restrictions on metal exports can disrupt supply continuity and create sharp pricing disparities across regional markets.
In addition, the logistics and transportation sector, which forms a vital component of the raw material and finished product supply chain, often experiences delays, increased freight costs, and capacity shortages-further compounding the uncertainty in procurement and delivery timelines. The recent examples of global port congestion, container shortages, and fuel price surges have underscored the vulnerability of the supply chain to both macroeconomic shocks and localized disruptions. These challenges are particularly pronounced for small and mid-sized forging enterprises, which may lack the financial flexibility to absorb cost escalations or maintain diversified supplier relationships.
Furthermore, the lack of long-term raw material contracts and the commoditized nature of steel exacerbate market unpredictability. Manufacturers may face difficulties in securing consistent input quality or volumes, leading to production halts or quality inconsistencies. In regions with underdeveloped infrastructure or limited local raw material sources, reliance on imports increases lead times and exposes businesses to exchange rate risks. This volatility in input costs and supply chain reliability poses a major obstacle to sustainable growth, profitability, and competitive pricing in the Forged Steel Market, especially in highly fragmented and price-sensitive industry segments.
Key Market Trends
Increased Demand from Renewable Energy and Electric Vehicle Sectors
The global transition toward renewable energy and electric mobility is significantly reshaping demand dynamics in the Forged Steel Market. As governments, corporations, and consumers intensify their commitment to reducing carbon emissions and embracing sustainable technologies, industries such as wind energy, solar power, and electric vehicle manufacturing are witnessing substantial growth. These sectors require high-performance forged steel components due to their need for structural integrity, wear resistance, and the ability to perform reliably under varying load and environmental conditions.
In the renewable energy sector, forged steel is critical in the production of wind turbine shafts, gearboxes, bearings, and foundation components. The increasing installation of large-scale onshore and offshore wind farms has created strong demand for heavy-duty forged parts that can withstand harsh operating conditions, including high torque and saltwater exposure. Similarly, in the solar energy sector, forged components are used in tracking systems, support structures, and mounting equipment, where strength and durability are essential for long-term performance.
In the electric vehicle industry, the need for lightweight yet robust components has led to the integration of forged steel in drive systems, suspension parts, transmission assemblies, and braking systems. Unlike traditional cast or machined components, forged parts offer superior fatigue strength and reduced failure risks, which are crucial in electric mobility applications that involve high torque and frequent regenerative braking cycles. Furthermore, as electric vehicle manufacturers scale up production to meet growing global demand, the volume of forged steel components required is expected to rise proportionally.
This trend is further supported by government incentives, emission regulations, and infrastructure investments that are accelerating the shift toward clean energy and electrified transportation. As these industries continue to expand, the Forged Steel Market is poised to benefit from increasing orders for precision-engineered, high-performance forged products that support the global sustainability agenda.
In this report, the Global Forged Steel Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the Global Forged Steel Market.
Global Forged Steel Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: