Upto 10 kg Closed Die Forging Market is expected to reach US$ 13,932.46 Million by 2031

Rising Rig Count Boosts Upto 10 kg Closed Die Forging Market Growth

According to our latest market study on "Upto 10 kg Closed Die Forging Market Size and Forecast (2025–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Material Type and Industry,” the market was valued at US$ 9,310.65 million in 2024 and is anticipated to reach US$ 13,932.46 million by 2031; it is estimated to register a CAGR of 6.1% during 2025–2031. The report includes growth prospects in light of the current upto 10 kg closed die forging market trends and driving factors influencing market growth.

The demand for durable and reliable components across the automotive industry is growing notably along with the rising industry inclination toward lightweight components in the assembly process of passenger and commercial vehicles. The expansion of the automotive sector, particularly the rising sales of electric and hybrid vehicles, is a major factor contributing to the upto 10 kg closed die forging market. Durable components decrease the necessity for frequent maintenance, repair, and replacement activities, leading to reduced vehicle downtime. Along with technical advancements, continuously increasing raw material and production costs are driving the demand for durable components across the automotive industry. The automotive industry is increasingly emphasizing lowering vehicle weight to improve fuel efficiency and meet stringent emissions regulations. Components made using upto 10 kg closed die forging can attain a favorable strength-to-weight ratio, which is fundamental for lightweight vehicle designs. For instance, a 10 kg forged component can be a replacement for the heavier cast or machined counterparts, facilitating the overall vehicle weight reduction. The US is the largest manufacturer of automobiles. The rising demand for automotive vehicles is prompting ongoing investments in the automotive sector within the country, such as the assembly plant established by the Mazda–Toyota joint venture for manufacturing in Huntsville in 2021. In January, battery electric vehicles (BEVs) made up ~15% of the market share, up from ~10.9% in January 2024. In January 2025, new battery-electric car sales increased by ~34% to 124,341 units, capturing ~15% market share. Three of the four largest markets in Europe, together accounted for ~64% of all battery-electric car registrations and experienced significant double-digit growth. This includes Germany, which experienced an increase of ~53.5%; Belgium, with a rise of ~37.2%; and the Netherlands, with an uptick of ~28.2%, as reported by the European Automobile Manufacturers' Association. This indicates an enormous need for upto 10 kg closed die forging in this industry. As per the data published by the European Automobile Manufacturers' Association, in April 2025, battery-electric vehicles (BEVs) reported for ~15.3% of the complete European market share, indicating a rise from ~12% in April 2024. The sales of hybrid-electric vehicles increased, accounting for ~35.3% of the market and remaining the preferred choice among European consumers. Thus, the increased sales of vehicles and the rise in the application of lightweight and durable components in the automotive sector are boosting the demand for durable industrial components, resulting in the adoption of upto 10 kg closed die forging.

Upto 10 kg Closed Die Forging Market Analysis – by Geography, 2024

Source: The Insight Partners Analysis

The scope of the upto 10 kg closed die forging market report focuses on North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, Poland, Hungary, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of Asia Pacific), the Middle East and Africa (South Africa, Turkey, Algeria, Morocco, and the Rest of Middle East and Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).

The Asia Pacific upto 10 kg closed die forging market is segmented into Australia, South Korea, India, China, Japan, and the Rest of Asia Pacific. Asia Pacific's construction and infrastructure sectors are undergoing robust expansion and development initiatives, propelled by the region's surging economic growth and increasing population. Key infrastructure developments include a growing number of railway stations, commercial spaces, buildings, residential housings, airports, and water treatment facilities. In Singapore, as per the projected insights from the Building and Construction Authority, the value of construction projects in 2024 was between US$ 32 billion and US$ 38 billion, with the majority of the share from the public sector. This can be attributed to the rise in building and construction of public housing and infrastructure projects. Such a growing construction industry in Asia Pacific is anticipated to boost the demand for lightweight closed die forged components in the coming years.

In addition, countries in the region are experiencing a gradual increase in the adoption of advanced techniques such as artificial intelligence, automation, and machine learning in the automotive, medical, electrical & electronics, and other sectors. In addition, the growth of new vehicle registrations in the region is expected to propel the demand for forged components in the coming years. Countries such as China, India, Australia, and Vietnam, on average, witnessed a 23% increase in new passenger car registrations from 2021 to 2024, as per the insights from OICA. This is anticipated to propel the upto 10 kg closed die forging market growth from 2025 to 2031. According to insights from the International Organization of Motor Vehicle Manufacturers (OICA), automobile production in China increased from 26.12 million units in 2021 to 31.28 million in 2024. Furthermore, vehicle sales in China increased from 26.31 million units in 2021 to 31.44 million in 2024. This increase in automobile production and sales in China is projected to increase the demand for upto 10 kg closed die forged automotive components such as connecting rods, axles, axle beams, and yokes, thereby driving market growth between 2025 and 2031. Other industries contributing to the growth of the upto 10 kg closed die forging market include mining, forestry, agriculture, oilfield, lifting, and rigging. The Chinese government's commitment to repositioning its key airports as international hubs has resulted in massive investments in airport infrastructure development activities, encompassing new infrastructure, state-of-the-art terminals, and advanced technologies. According to the government's transportation network planning framework, the country had approximately 240 airports in 2022 and aims to increase this number to 400 by 2035. According to the insights from the Civil Aviation Administration of China (CAAC), 32 large and busy airports in the country are experiencing capacity overload, and 40 of its 50 largest airports need renovation or expansion. China's 14th Five-Year Plan covers 140 airport projects, including greenfield construction, relocation, renovation, and expansion by 2025. This increase in government initiatives and increased investment in infrastructure development across various sectors are expected to boost the demand for closed die forging components weighing upto 10 kg in China during the forecast period.

Isler India; Aequs Pvt Ltd.; M M Forgings Limited; NEXUS ENGITECH; SIDERFORGEROSSI GROUP S.p.A.; FORLAM group; Palmieri Group; Trojan Manufacturing, Forging and Automotive (TMFA); Poppi Ugo Euroforge S.p.A.; KEMS FORGINGS LTD.; FIXIN Manufacturing Technology Pvt Ltd; Kalyani Forge Ltd.; Cie Automotive SA; Sunstar Precision Forge Limited; Kross Limited; Poona Forge Private Limited; Sadhu Group; Pradeep Metals Limited; Ramkrishna Forgings Ltd; Sundaram Forgings; Happy Forgings; Rasche Umformtechnik GmbH & Co. KG; CFS Machinery Co. Ltd; Western India Forgings Pvt. Ltd.; and Caparo India are major companies profiled in the upto 10 kg closed die forging market report. Other major players were also studied and analyzed in the report to get a holistic view of the market and its ecosystem. The upto 10 kg closed die forging market forecast can help stakeholders plan their growth strategies. The market analysis provides detailed market insights, which help the key players strategize their growth.

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