Iron & Steel Forging Industry - Market Size, Trends, and Growth - 2025-2030
Industry Overview
This U.S. industry comprises establishments primarily engaged in manufacturing iron and steel forgings from purchased iron and steel by hammering mill shapes. Establishments making iron and steel forgings and further manufacturing (e.g., machining, assembling) a specific manufactured product are classified in the industry of the finished product. Iron and steel forging establishments may perform surface finishing operations, such as cleaning and deburring, on the forgings they manufacture.
Source: U.S. Census BureauMarket Size and Industry Forecast
This research report analyzes the market size and trends in the Iron and Steel Forging industry. It shows overall market size from 2020 to the present, and predicts industry growth through 2030. Revenues data include both public and private companies.
| Historical | Forecasted |
|---|
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|
| Market Size (Total Revenue) | Included in Report |
| % Growth Rate |
| Number of Companies |
| Total Employees |
| Average Revenue per Company |
| Average Employees per Company |
Source: U.S. government financial dataIndustry Revenue ($ Billions)
Industry Forecast ($ Billions)
Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.
Geographic Breakdown by U.S. State
Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Iron & Steel Forging companies in the United States.
Iron & Steel Forging Revenue by State
Distribution by Company Size
| Company Size | All Industries | Iron & Steel Forging |
|---|
| Small Business (< 5 Employees) | Included |
| Small Business (5 - 20) |
| Midsized Business (20 - 100) |
| Large Business (100 - 500) |
| Enterprise (> 500) |
Iron & Steel Forging Industry Income Statement (Average Financial Metrics)
Financial statement analysis determines averages for the following industry forces:
- Cost of goods sold
- Compensation of officers
- Salaries and wages
- Employee benefit programs
- Rent paid
- Advertising and marketing budgets
The report includes a traditional income statement from an "average" company (both public and private companies are included).
| Industry Average | Percent of Sales |
|---|
| Total Revenue | Included |
| Operating Revenue |
| Cost of Goods Sold (COGS) |
| Gross Profit |
| Operating Expenses |
| Operating Income |
| Non-Operating Income |
| Earnings Before Interest and Taxes (EBIT) |
| Interest Expense |
| Earnings Before Taxes |
| Income Tax |
| Net Profit |
Average Income Statement
Cost of Goods Sold
Salaries, Wages, and Benefits
Rent
Advertising
Depreciation and Amortization
Officer Compensation
Net Income
Financial Ratio Analysis
Financial ratios allow a company's performance to be compared against that of its peers.
| Financial Ratio | Industry Average |
|---|
| Profitability Ratios | Included |
| Profit Margin |
| ROE |
| ROA |
| Liquidity Ratios |
| Current Ratio |
| Quick Ratio |
| Activity Ratios |
| Average Collection Period |
| Asset Turnover Ratio |
| Receivables Turnover Ratio |
| Inventory Conversion Ratio |
Products and Services Mix
Product lines and services in the Iron & Steel Forging industry accounting for the largest revenue sources.
| Product Description | Description | Revenue
($ Millions) |
|---|
Iron and steel forging | Included |
Hot impression die impact, press, and upset steel forgings |
Hot impression die impact/press/upset carbon steel forgings |
Hot impression die impact, press, & upset alloy steel forgings |
Hot impression die impact/press/upset stainless steel forgings |
Hot impression die impact/press/upset hi-temp steel forgings |
Cold impression die impact, press, and upset steel forgings |
Seamless rolled ring forgings, ferrous, purchased iron & steel |
Seamless carbon/alloy steel rolled ring forg., purch. iron/steel |
Seamless stain. steel/hi-temp roll. ring forg., purch. iron/steel |
Salary information for employees working in the Iron & Steel Forging industry.
| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|
| Management Occupations | 5% | Included |
| Chief Executives | 0% |
| General and Operations Managers | 2% |
| Office and Administrative Support Occupations | 10% |
| Production Occupations | 61% |
| Assemblers and Fabricators | 10% |
| Miscellaneous Assemblers and Fabricators | 7% |
| Assemblers and Fabricators, All Other, Including Team Assemblers | 7% |
| Metal Workers and Plastic Workers | 37% |
| Machine Tool Cutting Setters, Operators, and Tenders, Metal and Plastic | 8% |
| Machinists | 9% |
| Machinists | 9% |
| Welding, Soldering, and Brazing Workers | 8% |
| Welders, Cutters, Solderers, and Brazers | 7% |
| Other Production Occupations | 10% |
| Transportation and Material Moving Occupations | 5% |
Government Contracts
The federal government spent an annual total of
$22,066,539 on the iron & steel forging industry. It has awarded 262 contracts to 59 companies, with an average value of $374,009 per company.
Top Companies in Iron & Steel Forging and Adjacent Industries
| Company | Address | Revenue
($ Millions) |
|---|
Included |
