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Automotive Forging Market Size, Share, and Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), By Material (Aluminum, Steel, and Others), By Application (Gears, Crankshaft, Pistons, Axle, Bearings, Connecting Rods, and Others), By Technology (Closed Die, Open Die, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

May 2024 | 467 pages | ID: AD8B6F64E929EN
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Automotive Forging Market Size, Share, and Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), By Material (Aluminum, Steel, and Others), By Application (Gears, Crankshaft, Pistons, Axle, Bearings, Connecting Rods, and Others), By Technology (Closed Die, Open Die, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Automotive Forging Market is anticipated t%li%exhibit a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast span from 2024 t%li%2034. In 2023, the market size was assessed at USD 47.9 billion and is projected t%li%reach USD 83.1 billion by the completion of 2034.

Automotive forging is a manufacturing method that shapes and forms metal components for vehicles using heat and pressure. This procedure improves the structural integrity and mechanical properties of automobile parts by aligning the metal's grain structure, which results in increased strength and longevity. Automotive forging is widely used for the creation of various items including crankshafts, connecting rods, and gears, ensuring precision shape and uniform material density. The standard technique of automotive forging involves heating the metal t%li%a malleable state, then pressing or hammering it int%li%the required shape with specialized dies. Furthermore, the finished forged products have high fatigue resistance, impact strength, and better performance, which significantly contribute t%li%the reliability and safety of automotive systems.

MARKET HIGHLIGHTS

Automotive Forging Market is projected t%li%reach USD 83.1 billion over the forecast period, owing t%li%the rising demand across industries for lightweight and high-strength components. Automobile manufacturers are prioritizing fuel efficiency and safety, which has resulted in increased use of forged parts such as crankshafts and connecting rods. Additionally, the global growth in car production is another factor driving market expansion. Automotive forging has significant advantages, such as increased durability, fatigue resistance, and component strength, which aligns with the industry's emphasis on satisfying high performance standards. Moreover, key competitors in the automotive forging market are investing heavily in R&D t%li%stay competitive and improve their product offerings. Therefore, the market's growth trajectory is defined by the focus on innovation and a persistent search for advanced materials t%li%satisfy evolving industry demands.

Automotive Forging Market Segments:
  • By Vehicle Type
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • By Material
  • Aluminium
  • Steel
  • Others
  • By Application
  • Gears
  • Crankshaft
  • Pistons
  • Axle
  • Bearings
  • Connecting Rods
  • Others
  • By Technology
  • Closed Die
  • Open Die
  • Others
MARKET DYNAMICS

Growth Drivers

Growing Demand for Lightweight Components Creates Growth Opportunities

Rising Adoption of Electric Vehicles (EVs) will Likely Result in Market Expansion

Restraint

High Initial Costs t%li%Prevent Industry Expansion

Key Players
  • Nippon Steel Corporation
  • Thyssenkrupp AG
  • American Axle & Manufacturing, Inc.
  • Precision Castparts Corp.
  • ATI (Allegheny Technologies Incorporated)
  • Bharat Forge Limited
  • Hirschvogel Automotive Group
  • Arconic Inc.
    • Norsk Hydr%li%ASA
  • Trenton Forging Company
  • Mahindra CIE Automotive Limited
  • Kalyani Group
  • Ellwood Group, Inc.
  • SIFCO Industries, Inc.
  • Sona BLW Precision Forgings Limited
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons t%li%Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
      • Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
    • The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
    • Provides insight int%li%the market through Value Chain
    • Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
  • 3-month post-sales analyst support.
1. EXECUTIVE SUMMARY

1.1.Regional Market Share
1.2. Business Trends
1.3.Automotive Forging Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot

2. RESEARCH METHODOLOGY

2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
  2.5.1. Paid Sources
  2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation

3. MARKET CHARACTERISTICS

3.1. Market Definition
3.2.Automotive Forging Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data

4. AUTOMOTIVE FORGING MARKET – INDUSTRY INSIGHTS

4.1.Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability

5. MACROECONOMIC INDICATORS

6. RECENT DEVELOPMENTS

7.MARKET DYNAMICS

7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends

8. RISK ANALYSIS

9. MARKET ANALYSIS

9.1. Porters Five Forces
9.2.PEST Analysis
  9.2.1. Political
  9.2.2.Economic
  9.2.3.Social
  9.2.4.Technological

10. AUTOMOTIVE FORGING MARKET

10.1.Overview
10.2. Historical Analysis (2019-2022)
  10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast

11.AUTOMOTIVE FORGING MARKET SIZE & FORECAST 2024A-2034F

11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
  11.3.1.By Vehicle Type
    11.3.1.1. Passenger Cars
      11.3.1.1.1. By Value (USD Million) 2024-2034F
      11.3.1.1.2.Market Share (%) 2024-2034F
      11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.1.2.Light Commercial Vehicles
      11.3.1.2.1.By Value (USD Million) 2024-2034F
      11.3.1.2.2. Market Share (%) 2024-2034F
      11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.1.3.Heavy Commercial Vehicles
      11.3.1.3.1.By Value (USD Million) 2024-2034F
      11.3.1.3.2. Market Share (%) 2024-2034F
      11.3.1.3.3. Y-o-Y Growth (%) 2024-2034F
  11.3.2. By Material
    11.3.2.1.Aluminum
      11.3.2.1.1.By Value (USD Million) 2024-2034F
      11.3.2.1.2. Market Share (%) 2024-2034F
      11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.2.2. Steel
      11.3.2.2.1. By Value (USD Million) 2024-2034F
      11.3.2.2.2.Market Share (%) 2024-2034F
      11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
    11.3.2.3. Others
      11.3.2.3.1. By Value (USD Million) 2024-2034F
      11.3.2.3.2.Market Share (%) 2024-2034F
      11.3.2.3.3.Y-o-Y Growth (%) 2024-2034F
  11.3.3. By Application
    11.3.3.1.Gears
      11.3.3.1.1.By Value (USD Million) 2024-2034F
      11.3.3.1.2. Market Share (%) 2024-2034F
      11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.2. Crankshaft
      11.3.3.2.1. By Value (USD Million) 2024-2034F
      11.3.3.2.2.Market Share (%) 2024-2034F
      11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.3. Pistons
      11.3.3.3.1. By Value (USD Million) 2024-2034F
      11.3.3.3.2.Market Share (%) 2024-2034F
      11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.4. Axle
      11.3.3.4.1. By Value (USD Million) 2024-2034F
      11.3.3.4.2. Market Share (%) 2024-2034F
      11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
    11.3.3.5. Bearings
      11.3.3.5.1. By Value (USD Million) 2024-2034F
      11.3.3.5.2.Market Share (%) 2024-2034F
      11.3.3.5.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.6. Connecting Rods
      11.3.3.6.1. By Value (USD Million) 2024-2034F
      11.3.3.6.2.Market Share (%) 2024-2034F
      11.3.3.6.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.7. Others
      11.3.3.7.1. By Value (USD Million) 2024-2034F
      11.3.3.7.2.Market Share (%) 2024-2034F
      11.3.3.7.3.Y-o-Y Growth (%) 2024-2034F
  11.3.4. By Technology
    11.3.4.1.Closed Die
      11.3.4.1.1.By Value (USD Million) 2024-2034F
      11.3.4.1.2. Market Share (%) 2024-2034F
      11.3.4.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.2. Open Die
      11.3.4.2.1. By Value (USD Million) 2024-2034F
      11.3.4.2.2.Market Share (%) 2024-2034F
      11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.3. Others
      11.3.4.3.1. By Value (USD Million) 2024-2034F
      11.3.4.3.2. Market Share (%) 2024-2034F
      11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F

12. NORTH AMERICA AUTOMOTIVE FORGING MARKET SIZE & FORECAST 2024A-2034F

12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
  12.3.1. By Vehicle Type
  12.3.2.By Material
  12.3.3.By Application
  12.3.4.By Technology
12.4. Country
  12.4.1. United States
  12.4.2.Canada

13. EUROPE AUTOMOTIVE FORGING MARKET SIZE & FORECAST 2024A-2034F

13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
  13.3.1. By Vehicle Type
  13.3.2.By Material
  13.3.3.By Application
  13.3.4.By Technology
13.4. Country
  13.4.1.Germany
  13.4.2.United Kingdom
  13.4.3.France
  13.4.4. Italy
  13.4.5.Spain
  13.4.6.Russia
  13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)

14. ASIA-PACIFIC AUTOMOTIVE FORGING MARKET SIZE & FORECAST 2024A-2034F

14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
  14.3.1. By Vehicle Type
  14.3.2.By Material
  14.3.3.By Application
  14.3.4. By Technology
14.4. Country
  14.4.1. India
  14.4.2.China
  14.4.3. South Korea
  14.4.4. Japan
  14.4.5. Rest of APAC

15. MIDDLE EAST AND AFRICA AUTOMOTIVE FORGING MARKET SIZE & FORECAST 2024A-2034F

15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
  15.3.1. By Vehicle Type
  15.3.2.By Material
  15.3.3.By Application
  15.3.4.By Technology
15.4. Country
  15.4.1. Israel
  15.4.2.GCC
  15.4.3.North Africa
  15.4.4. South Africa
  15.4.5.Rest of Middle East and Africa

16. LATIN AMERICA AUTOMOTIVE FORGING MARKET SIZE & FORECAST 2024A-2034F

16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
  16.3.1. By Vehicle Type
  16.3.2.By Material
  16.3.3.By Application
  16.3.4.By Technology
16.4. Country
  16.4.1. Mexico
  16.4.2.Brazil
  16.4.3.Rest of Latin America

17. COMPETITIVE LANDSCAPE

17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders

18. COMPANY PROFILES

18.1.Nippon Steel Corporation
  18.1.1.Company Overview
  18.1.2.Financial Overview
  18.1.3.Key Product; Analysis
  18.1.4.Company Assessment
    18.1.4.1.Product Portfolio
    18.1.4.2. Key Clients
    18.1.4.3. Market Share
    18.1.4.4. Recent News & Development (Last 3 Yrs.)
    18.1.4.5. Executive Team
18.2.Thyssenkrupp AG
18.3.American Axle & Manufacturing, Inc.
18.4. Arconic Inc.
18.5.Precision Castparts Corp.
18.6.ATI (Allegheny Technologies Incorporated)
18.7.Bharat Forge Limited
18.8. Mahindra CIE Automotive Limited
18.9.Kalyani Group
18.10.Hirschvogel Automotive Group
18.11. Norsk Hydro ASA
18.12. Trenton Forging Company
18.13. Ellwood Group, Inc.
18.14.SIFCO Industries, Inc.
18.15. Sona BLW Precision Forgings Limited
18.16.Other Prominent Players

19. APPENDIX

20.CONSULTANT RECOMMENDATION



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