Forging refers to a processing technology that uses forging machinery to apply pressure to metal billets, causing plastic deformation of the metal billets to obtain forgings with certain mechanical properties, shapes, and dimensions. Essentially, forging is a processing procedure that uses the plastic deformation of metal to change the shape and properties of metal billets into qualified forgings. Its fundamental purpose is to use external loads (impact or static loads) through forging equipment to cause plastic deformation of metal billets, thereby obtaining forgings with the required shape and size, while ensuring that the mechanical properties and internal structure of the forgings meet certain technical requirements.

　　Steel mills, steelmaking plants, alloy material smelting enterprises, and others provide the raw materials needed for the forging industry, such as steel billets, alloy steel, stainless steel, high-temperature alloys, titanium alloys, etc. Forged products, as essential key basic components for the equipment manufacturing industry, mainly serve downstream complete equipment manufacturers in industries such as wind power, chemical, machinery, shipbuilding, nuclear power, aerospace, and military industry, ultimately serving various sectors of the national economy and defense industry.

　　With the rapid development of downstream application industries for forgings in wind power, chemical, machinery, shipbuilding, nuclear power, aerospace, and military sectors in China, the overall output of forgings in China has shown a continuous growth trend, making China the world's largest forging producer. In 2022, China's forging output reached 13.155 million tons, with a compound annual growth rate of 4.39% from 2016 to 2022. The output of free forging in China was 4.829 million tons in 2022, with a compound annual growth rate of 6.44% from 2016 to 2022. Against the backdrop of the booming wind power industry and increased demand for large equipment in chemical, aerospace, nuclear power, and other fields, the market space for free forgings, especially high-end large free forgings, in China is broad.

　　The research team of Huajing Industry Research Institute uses a combination of desktop research, quantitative surveys, and qualitative analysis to comprehensively and objectively analyze the overall market capacity, industrial chain, business characteristics, profitability, and business models of the forging industry. Scientific use of research models and methods such as SCP model, SWOT, PEST, regression analysis, and SPACE matrix comprehensively analyze the market environment, industrial policies, competitive landscape, technological innovation, market risks, industry barriers, opportunities, and challenges related to the forging industry. Based on the development trajectory and practical experience of the forging industry, the team carefully compiled the "2024-2030 China Forging Industry Market In-depth Research and Investment Planning Recommendation Report" to provide important references for investment decisions, strategic planning, and industrial research for enterprises, research institutions, and investment organizations.