Forged Automotive Component Market Size and Market Trends: Complete Industry Overview (2024 to 2031

The "Forged Automotive Component market" report analyzes important operational and performance data so one may compare them to their own business, the businesses of their clients, or the companies of their rivals. And this report consists of 177 pages. The Forged Automotive Component market is expected to grow annually by 5% (CAGR 2024 - 2031).

Forged Automotive Component Market Overview and Report Coverage

Forged Automotive Components have seen a significant growth in the market due to their superior strength, durability, and performance compared to other manufacturing methods. The automotive industry has witnessed an increase in demand for lightweight and high-strength components, driving the growth of forged automotive components. This growth is also attributed to the increasing production of vehicles, particularly in emerging markets, where manufacturers are looking to enhance the performance and safety of their vehicles. The global forged automotive component market is expected to continue to grow steadily as manufacturers seek to meet the stringent performance and quality standards set by the automotive industry.

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Market Segmentation 2024 - 2031:

In terms of Product Type: Gears,Crankshaft,Axle,Bearing,Piston,Steering Knuckle, the Forged Automotive Component market is segmented into:

• Gears
• Crankshaft
• Axle
• Bearing
• Piston
• Steering Knuckle

In terms of Product Application: Heavy Commercial Vehicles,Light Commercial Vehicles,Passenger Vehicles, the Forged Automotive Component market is segmented into:

• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Vehicles

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The available Forged Automotive Component Market Players are listed by region as follows:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• 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 forged automotive component market is witnessing significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In North America, the United States and Canada are experiencing a rise in demand for lightweight and durable automotive components. In Europe, countries like Germany, France, the ., and Italy are driving market growth with advancements in automotive technologies. Asia-Pacific, particularly China, Japan, South Korea, India, and Australia, is expected to dominate the market due to the expanding automotive industry. Latin America, Middle East & Africa are also anticipated to witness considerable growth in the forged automotive component market.

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Leading Forged Automotive Component Industry Participants

Forged automotive components are manufactured by companies like Kalyani, Om Forge, Super Auto Forge Private, GAZ, TBK, El Forge, Schweiger Fulpmes, Nippon Steel & Sumitomo Metal, Thyssenkrupp Forging, Agrasen Engineering Industries, Advance Forgings, SDF Automotive, Happy Forgings, Indo Schottle Auto Parts, and Mueller Brass. Market leaders in this industry include Kalyani, Thyssenkrupp Forging, and Nippon Steel & Sumitomo Metal, while new entrants include Super Auto Forge Private and GAZ.

These companies can help grow the forged automotive component market by providing high-quality and innovative products, investing in research and development, expanding their product portfolio, and collaborating with automotive manufacturers to meet their specific needs and requirements. By continuously improving their production processes and technologies, these companies can contribute to the growth and advancement of the forged automotive component market.

• Kalyani
• Om Forge
• Super Auto Forge Private
• GAZ
• TBK
• El Forge
• Schweiger fulpmes
• Nippon Steel & Sumitomo Metal
• Thyssenkrupp Forging
• Agrasen Engineering Industries
• Advance Forgings
• SDF Automotive
• Happy Forgings
• Indo Schottle Auto Parts
• Mueller Brass

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Market Trends Impacting the Forged Automotive Component Market

- Increased demand for lightweight and stronger materials in automotive manufacturing, such as aluminum and titanium forged components.

- Growing interest in electric vehicles driving the need for specialized forged components to support battery packs and drivetrain systems.

- Adoption of advanced forging technologies, like hot forming and precision forging, to improve component accuracy and reduce material waste.

- Rising focus on sustainability leading to the development of eco-friendly forged materials and processes.

- Industry disruptions from the rise of autonomous vehicles, requiring specialized forged components for sensors and control systems. Overall, the Forged Automotive Component market is expected to grow significantly due to these trends.

Forged Automotive Component Market Dynamics ( Drivers, Restraints, Opportunity, Challenges)

The Forged Automotive Component market is being driven by increasing demand for lightweight and high-performance components in the automotive industry, as forged components offer superior strength-to-weight ratio compared to traditional cast components. Additionally, stringent regulations for fuel efficiency and emission control are propelling the adoption of forged components. However, the market is restrained by high initial setup costs for forging equipment and limited skilled labor. The opportunities lie in the growing trend of electric vehicles and the development of advanced materials for forging. Challenges include intense competition and the need for continuous innovation to meet evolving customer demands.

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