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Automotive Components Forging Market Analysis and Sze Forecasted for period from 2024 to 2031

The "Automotive Components Forging Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Automotive Components Forging market is expected to grow annually by 5.7% (CAGR 2024 - 2031).

This entire report is of 140 pages.

Automotive Components Forging Introduction and its Market Analysis

The Automotive Components Forging market research report analyzes the current market conditions and provides insights into the industry. Automotive Components Forging involves shaping metal into desired shapes through the use of compressive forces. The target market for Automotive Components Forging includes automotive manufacturers and suppliers. Major factors driving revenue growth include increasing demand for lightweight and high-strength materials in the automotive industry. Key players in the market include Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, and Bharat Forge Limited. The report highlights market trends, competition analysis, and provides recommendations for companies to stay competitive in the Automotive Components Forging market.

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The global Automotive Components Forging market is experiencing rapid growth, driven by the increasing demand for high-quality and durable components in the automotive industry. The market can be segmented into Closed Die Forgings, Open Die Forgings, and Rolled Rings Forgings, each catering to specific applications such as Powertrain Components, Chassis Components, Transmission Parts, and Other Parts.

Regulatory and legal factors play a crucial role in shaping market conditions for Automotive Components Forging. Strict quality standards, safety regulations, and environmental laws impact the manufacturing process and distribution of forged components. Companies operating in this market need to adhere to these regulations to ensure compliance and avoid penalties.

As the automotive industry continues to evolve and demand for efficient and lightweight components rises, Automotive Components Forging market players must stay abreast of changing regulatory requirements to remain competitive and meet customer expectations. Continuous innovation and investment in technology are essential to maintain a strong market position and drive growth in this dynamic sector.

Top Featured Companies Dominating the Global Automotive Components Forging Market

The global automotive components forging market is highly competitive, with key players such as Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge Limited, KOBELCO, WanXiang, FAW, Arconic, Mahindra Forgings Europe, Farinia Group, Longcheng Forging, Sinotruck, Dongfeng Forging, Jiangsu Pacific Precision Forging, Sypris Solutions, Ashok Leyland Limited, Allegheny Technologies, VDM Metals, and CITIC Heavy Industries dominating the market. These companies offer a wide range of forged components for automotive applications, including crankshafts, connecting rods, gears, and axle beams.

These companies play a crucial role in the growth of the automotive components forging market by investing in research and development to introduce innovative products, expanding their production capacities, and forming strategic partnerships and collaborations with automotive manufacturers. They also focus on providing high-quality components that meet the stringent requirements of the automotive industry in terms of strength, durability, and performance.

For example, Bharat Forge Limited, one of the leading players in the automotive components forging market, reported sales revenue of over $ billion in the fiscal year 2020-21. Similarly, Thyssenkrupp, another key player in the market, reported sales revenue of approximately $17 billion in the fiscal year 2020-21. These companies leverage their strong market position, technological expertise, and global reach to cater to the growing demand for forged components in the automotive industry and drive the growth of the automotive components forging market.

  • Nippon Steel & Sumitomo Metal
  • Aichi Steel
  • Thyssenkrupp
  • AAM
  • Bharat Forge Limited
  • WanXiang
  • FAW
  • Arconic
  • Mahindra Forgings Europe
  • Farinia Group
  • Longcheng Forging
  • Sinotruck
  • Dongfeng Forging
  • Jiangsu Pacific Precision Forging
  • Sypris Solutions
  • Ashok Leyland Limited
  • Allegheny Technologies
  • VDM Metals
  • CITIC Heavy Industries

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Automotive Components Forging Market Analysis, by Type:

  • Closed Die Forgings
  • Open Die Forgings
  • Rolled Rings Forgings

Automotive components forging includes closed die forgings, open die forgings, and rolled rings forgings. Closed die forgings produce complex shapes with high precision, open die forgings are used for large parts with simpler designs, and rolled rings forgings create seamless rings with high strength. These different types of forgings offer a wide range of options for manufacturers to produce high-quality, durable automotive components. This variety of forging processes allows for cost-effective production and customization, contributing to the increased demand for automotive components forging in the market.

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Automotive Components Forging Market Analysis, by Application:

  • Powertrain Components
  • Chassis Components
  • Transmission Parts
  • Other Parts

Automotive components forging is used to manufacture powertrain components, such as connecting rods and crankshafts, which require high strength and durability. Chassis components like control arms and steering knuckles are also forged for enhanced structural integrity. Transmission parts like gears and shafts undergo forging to ensure precise dimensions and high mechanical properties. Other parts, including suspension components and wheel hubs, benefit from forging for improved performance and longevity. The fastest growing application segment in terms of revenue is powertrain components, as automotive manufacturers continue to prioritize lightweight, high-strength materials for improved fuel efficiency and performance.

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Automotive Components Forging Industry Growth Analysis, by Geography:

North America:

  • United States

  • Canada


  • Germany

  • France

  • U.K.

  • Italy

  • Russia


  • China

  • Japan

  • South Korea

  • India

  • Australia

  • China Taiwan

  • Indonesia

  • Thailand

  • Malaysia

Latin America:

  • Mexico

  • Brazil

  • Argentina Korea

  • Colombia

Middle East & Africa:

  • Turkey

  • Saudi

  • Arabia

  • UAE

  • Korea

The automotive components forging market is seeing steady growth across the globe, with North America, Europe, and Asia-Pacific leading the way. North America, particularly the United States and Canada, is expected to dominate the market with a market share of around 30%. Europe, including Germany, France, the ., Italy, and Russia, is also expected to hold a significant market share of approximately 25%. In Asia-Pacific, countries like China, Japan, South Korea, India, and Australia are anticipated to contribute around 20% to the market. Latin America (Mexico, Brazil, Argentina, Colombia) and Middle East & Africa (Turkey, Saudi Arabia, UAE, Korea) are also expected to witness growth in the automotive components forging market, with a combined market share of around 25%.

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27 Jun 2024
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