Metal Forging Market Is Likely To Up Demand At A USD 145.44 Billion By 2030
San Francisco, 17 April 2024: The Report Metal Forging Market Size, Share & Trends Analysis Report By Raw Material (Carbon Steel, Aluminum, Alloy Steel), By Application (Automotive, Aerospace, Oil & Gas), By Region, And Segment Forecasts, 2022 - 2030 The global metal forging market size is expected to reach USD 145.44 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.7% during the forecast period. 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 pla