The global demand for Automotive Forging Market is presumed to reach the market size of nearly USD 3.53 Billion by 2032 from USD 2.59 Billion in 2023 with a CAGR of 3.5% under the study period 2024 - 2032.
Automotive forging is the manufacturing process in which a piece of metal usually hot is forged into the desired automotive shape by hammering, pressing, rolling, and squeezing operations. Mostly, closed die forging is used in automotive parts. Moreover, powertrain components, chassis components, transmission parts, and other automotive parts are manufactured by using the forging process.
Market Dynamics
The new developments in the growing automotive industry are primarily driving the market growth. Increasing demand for complex automotive parts is again accelerating market growth. Along with this, development in infrastructure, ongoing industrialization, and rapid economic growth are further expected to contribute to market expansion. However, the presence of the casting industry is likely to hamper the market growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of automotive forging.
Market Segmentation
The entire automotive forging market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- Agricultural Machinery
- Construction Equipment
- Others
By Material
By Application
- Gears
- Crankshaft
- Piston
- Axle
- Bearings
- Connecting Rods
- Others
By Technology
- Closed Die
- Open Die
- Others
By Supplier Type
- Local
- International (Import)
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for automotive forging market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Automotive Forging Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive forging market include ThyssenKrupp AG (Germany), CIE Automotive (Spain), NTN Corporation (Japan), American Axle and Manufacturing Inc. (U.S.), Bharat Forge Limited (India), Ramkrishna Forgings (India), Dana Limited (U.S.), Meritor Inc. (U.S.), ZF Friedrichshafen AG (Germany). This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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