Indian metal forging market was estimated at USD 10,243.6 million in the year 2023 and is projected to reach USD 17,920.9 million in the year 230, growing at a CAGR of 8.3% in the 2024-2030 period. In terms of segment, carbon steel was the largest, accounting for 47.84% of the revenues in 2023. Forging is a crucial industry in India because it is an important requirement for multiple industries, such as railroad, transportation, general engineering, industrial machinery and power generation, which are essential for the development of the country. Forging is a process in which high-strength parts, called forgings, are created by pressing, pounding and squeezing metals under high pressure. This process creates much stronger metal components as compared to other kinds of metalworking processes. Forgings are widely used as component parts in automobiles, tractors, airplanes, oil drilling equipment and other kinds of heavy-duty metal items.
1 Ramkrishna Forgings Limited
Ramkrishna Forgings Limited, established in the year 1981, is a major name in the forging industry specialising in world-class metal forged, machined and fabricated products for a number of industries, including railways, automotive, general engineering, mining, construction and others. The company manufactures a wide range of metal parts in various designs and complexities to cater to the specific needs of diverse industries.
RKFL supplies components ranging from 0,5 kg to 200 kg, and has an installed forging capacity of 2,10,900 metric tonnes. The company not only caters to the domestic demand but also exports its products to 23 countries.
2. Bharat Forge Limited
Bharat Forge Limited, founded in the year 1961 as a part of the Kalyani Group, is a leading manufacturer and supplier of high-performance metal components for multiple industries like oil and gas, marine, railways, automotive, aerospace, defence, construction, mining and others. Some of its products for various sectors include airframes and structural engine parts for the aviation sector, railways components like wheel impeller balance assemblies, pistons, crankshafts and turbochargers, construction equipment like track links and front spindles, and marine components like propeller shafts.
Bharat Forge provides end-to-end services, right from conceptualisation and design to engineering, manufacturing, testing and validation. The company operates state-of-the-art forging facilities across India, Germany and USA.
3. CIE Automotive India Limited
CIE Autmotive India Limited, established in the year 1999, is a leading manufacturer and supplier of components and sub-assemblies for the automotive market. It uses hot forging, warm forging and other forging technologies to manufacture a wide range of parts for both passenger and commercial vehicles. In fact, the company holds 60% market share in India in crankshafts and steering knuckles.
CIE Automotive India operates forging plants at multiple locations across India, such as Haridwar, Pune, Bangalore and Coimbatore. All the plants have full machining and automation capabilities.
4. Metalyst Forgings Limited
Metalyst Forgings Limited, founded in the year 1977, specialises in manufacturing a wide range of forging components for both automotive and non-automotive sectors. Its diverse product portfolio includes, crankshafts, front axle beams, mounting brackets, lever rockers, connecting rods, claw poles, tracklinks, under brackets, gear shift forks, pistons and shaft nuts.
Metalyst Forgings operates three forging plants in Maharashtra and a single forging plant in Himachal Pradesh. The company holds multiple certifications, such as ISO 9001, IATF:16949, EMS and OHSAS.
5. MM Forgings Limited
MM Forgings Limited, established in the year 1974, is a major manufacturer and exporter of closed die hot forgings for automotive, agriculture and other sectors. It produces a wide variety of components with weights ranging from 100 grams to 120 kilograms. Some examples of the products offered by the company are sprockets, flange housings, connecting rods, double yokes, crankshafts, and body and bonnet for high pressure valves.
MM Forgings operates three forging plants which are located at multiple locations in Tamil Nadu. The company has a capacity to produce 100,000 metric tonnes of forgings per annum.
6. Krishnaveer Forge Limited
Krishnaveer Forge Limited, founded in the year 1990, is a specialist in manufacturing open die forgings. It has the requisite expertise and infrastructure to forge various metal grades like stainless steel, duplex steel, carbon steel and alloy steels into various complex components of varying sizes. The forged components are designed for multiple industries, such as steel plants, oil and gas, automotive, power transmission and more.
Krishnaveer Forge has a global distribution network covering multiple countries in Middle East, Latin America, North America, Europe and Asia.
7. Hilton Metal Forging Limited
Hilton Metal Forging Limited, established in the year 2005, is among the leading manufacturers and distributors of steel forged flanges and fittings for railways, oil and gas, steel plants, marine shipping and other industries. Its product portfolio includes pipe fittings, high pressure flanges, threaded flanges, crankshafts, body bonnets and socket welded flanges. The company is capable of making forged components customised to customer specifications.
8. Kalyani Forge Limited
Kalyani Forge Limited, established in the year 1979, provides a wide range of forged, machined and assembled products to automotive, railways, marine, power generation and other sectors. It is an expert in hot forging, warm forging and cold forging. The product portfolio of the company comprises of engine components, power tools, conveyors, steering knuckles, FS arms, brakes, yoke shafts and more.
9. Samrat Forgings Limited
Samrat Forgings Limited, established in the year 1981, is among the top manufacturers and suppliers of high quality forgings for multiple applications, such as farming equipment, oil and gas, locomotive, automotive and construction equipment. Its product portfolio includes a wide range of metal components, right from crankshafts and drive gears to drill bits and stub axles.
10. Amforge Industries Limited
Amforge Industries Limited, founded in the year 1971, provides a wide range of forged pipe fittings and flanges to many industries like nuclear power, fertilisers, chemical, oil and gas and more. Its offerings include butt weld fittings, screw fittings and flanges like lateral, cross tee and special radius. The company holds ISO 9001-2015 certification.
Conclusion
India accounted for 11.3% of the global metal forge manufacturing in terms of revenues in the year 2023, and the top companies hold the major shares in this market. Forging companies in India are consistently adapting to the changing needs of various industries.
