Passenger Car Component Forging Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Material Type (Aluminum, Steel, Others), By Component Type (Gears, Piston, Bearing, Axle, Connecting Rods, Crankshaft, Others), By Vehicle Type (SUV, Sedan, Hatchback, MUV), By Region & Competition, 2021-2031F

January 2026 | 180 pages | ID: P32A270889DDEN
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The Global Passenger Car Component Forging Market will grow from USD 26.22 Billion in 2025 to USD 39.11 Billion by 2031 at a 6.89% CAGR. Passenger car component forging is defined as the manufacturing process of shaping critical load-bearing parts, such as crankshafts, connecting rods, and transmission gears, using compressive forces to ensure superior structural integrity and fatigue resistance.

Key Market Drivers

The resurgence of global automotive manufacturing acts as a primary catalyst for the forging sector, necessitating consistent supplies of chassis and powertrain components. As assembly lines accelerate output to meet pent-up consumer demand, the requirement for forged steel and aluminum parts increases proportionally to ensure vehicle structural integrity.

Key Market Challenges

The accelerating transition toward electric vehicles acts as a significant structural constraint on the growth of the global passenger car component forging market. Internal combustion engines heavily rely on forged parts, such as crankshafts, connecting rods, and pistons, to ensure structural integrity under high mechanical stress. In contrast, electric powertrains employ simplified architectures with fewer moving parts, effectively eliminating the need for these dense, weight-bearing engine components. This technological shift directly erodes the addressable market for manufacturers that depend on traditional powertrain orders, as the forging intensity per vehicle drops substantially when moving from gasoline to battery-powered platforms.

Key Market Trends

The development of specialized forged components for electric vehicle powertrains is emerging as a critical adaptation strategy for manufacturers facing the decline of internal combustion engine volumes. Forging companies are increasingly pivoting their product portfolios to manufacture high-precision parts essential for electric mobility, such as rotor shafts, differential gears, and battery tray components, which require the superior strength and reliability that only forging can provide. This strategic realignment allows suppliers to offset the reduced demand for traditional engine blocks and pistons by capturing value in the growing electrification segment.

Key Market Players
  • Accurate Steel Forgings (INDIA) Limited
  • AICHI STEEL CORPORATION
  • Alcoa Corporation
  • Aluminum Precision Products
  • Anderson Shumaker Company
  • Arconic Inc
  • Bharat Forge Limited
  • Ellwood Group Inc.
  • Kalyani Technoforge
  • Kobe Steel, Ltd.
Report Scope:

In this report, the Global Passenger Car Component Forging Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • Passenger Car Component Forging Market, By Material Type:
    • Aluminum
    • Steel
    • Others
  • Passenger Car Component Forging Market, By Component Type:
    • Gears
    • Piston
    • Bearing
    • Axle
    • Connecting Rods
    • Crankshaft
    • Others
  • Passenger Car Component Forging Market, By Vehicle Type:
    • SUV
    • Sedan
    • Hatchback
    • MUV
  • Passenger Car Component Forging Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • United Kingdom
      • Italy
      • Germany
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Passenger Car Component Forging Market.

Available Customizations:

Global Passenger Car Component Forging Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. VOICE OF CUSTOMER

5. GLOBAL PASSENGER CAR COMPONENT FORGING MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value
5.2. Market Share & Forecast
  5.2.1. By Material Type (Aluminum, Steel, Others)
  5.2.2. By Component Type (Gears, Piston, Bearing, Axle, Connecting Rods, Crankshaft, Others)
  5.2.3. By Vehicle Type (SUV, Sedan, Hatchback, MUV)
  5.2.4. By Region
  5.2.5. By Company (2025)
5.3. Market Map

6. NORTH AMERICA PASSENGER CAR COMPONENT FORGING MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Material Type
  6.2.2. By Component Type
  6.2.3. By Vehicle Type
  6.2.4. By Country
6.3. North America: Country Analysis
  6.3.1. United States Passenger Car Component Forging Market Outlook
    6.3.1.1. Market Size & Forecast
      6.3.1.1.1. By Value
    6.3.1.2. Market Share & Forecast
      6.3.1.2.1. By Material Type
      6.3.1.2.2. By Component Type
      6.3.1.2.3. By Vehicle Type
  6.3.2. Canada Passenger Car Component Forging Market Outlook
    6.3.2.1. Market Size & Forecast
      6.3.2.1.1. By Value
    6.3.2.2. Market Share & Forecast
      6.3.2.2.1. By Material Type
      6.3.2.2.2. By Component Type
      6.3.2.2.3. By Vehicle Type
  6.3.3. Mexico Passenger Car Component Forging Market Outlook
    6.3.3.1. Market Size & Forecast
      6.3.3.1.1. By Value
    6.3.3.2. Market Share & Forecast
      6.3.3.2.1. By Material Type
      6.3.3.2.2. By Component Type
      6.3.3.2.3. By Vehicle Type

7. EUROPE PASSENGER CAR COMPONENT FORGING MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Material Type
  7.2.2. By Component Type
  7.2.3. By Vehicle Type
  7.2.4. By Country
7.3. Europe: Country Analysis
  7.3.1. Germany Passenger Car Component Forging Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Material Type
      7.3.1.2.2. By Component Type
      7.3.1.2.3. By Vehicle Type
  7.3.2. France Passenger Car Component Forging Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Material Type
      7.3.2.2.2. By Component Type
      7.3.2.2.3. By Vehicle Type
  7.3.3. United Kingdom Passenger Car Component Forging Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Material Type
      7.3.3.2.2. By Component Type
      7.3.3.2.3. By Vehicle Type
  7.3.4. Italy Passenger Car Component Forging Market Outlook
    7.3.4.1. Market Size & Forecast
      7.3.4.1.1. By Value
    7.3.4.2. Market Share & Forecast
      7.3.4.2.1. By Material Type
      7.3.4.2.2. By Component Type
      7.3.4.2.3. By Vehicle Type
  7.3.5. Spain Passenger Car Component Forging Market Outlook
    7.3.5.1. Market Size & Forecast
      7.3.5.1.1. By Value
    7.3.5.2. Market Share & Forecast
      7.3.5.2.1. By Material Type
      7.3.5.2.2. By Component Type
      7.3.5.2.3. By Vehicle Type

8. ASIA PACIFIC PASSENGER CAR COMPONENT FORGING MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Material Type
  8.2.2. By Component Type
  8.2.3. By Vehicle Type
  8.2.4. By Country
8.3. Asia Pacific: Country Analysis
  8.3.1. China Passenger Car Component Forging Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Material Type
      8.3.1.2.2. By Component Type
      8.3.1.2.3. By Vehicle Type
  8.3.2. India Passenger Car Component Forging Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Material Type
      8.3.2.2.2. By Component Type
      8.3.2.2.3. By Vehicle Type
  8.3.3. Japan Passenger Car Component Forging Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Material Type
      8.3.3.2.2. By Component Type
      8.3.3.2.3. By Vehicle Type
  8.3.4. South Korea Passenger Car Component Forging Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Material Type
      8.3.4.2.2. By Component Type
      8.3.4.2.3. By Vehicle Type
  8.3.5. Australia Passenger Car Component Forging Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Material Type
      8.3.5.2.2. By Component Type
      8.3.5.2.3. By Vehicle Type

9. MIDDLE EAST & AFRICA PASSENGER CAR COMPONENT FORGING MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Material Type
  9.2.2. By Component Type
  9.2.3. By Vehicle Type
  9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
  9.3.1. Saudi Arabia Passenger Car Component Forging Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Material Type
      9.3.1.2.2. By Component Type
      9.3.1.2.3. By Vehicle Type
  9.3.2. UAE Passenger Car Component Forging Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Material Type
      9.3.2.2.2. By Component Type
      9.3.2.2.3. By Vehicle Type
  9.3.3. South Africa Passenger Car Component Forging Market Outlook
    9.3.3.1. Market Size & Forecast
      9.3.3.1.1. By Value
    9.3.3.2. Market Share & Forecast
      9.3.3.2.1. By Material Type
      9.3.3.2.2. By Component Type
      9.3.3.2.3. By Vehicle Type

10. SOUTH AMERICA PASSENGER CAR COMPONENT FORGING MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Material Type
  10.2.2. By Component Type
  10.2.3. By Vehicle Type
  10.2.4. By Country
10.3. South America: Country Analysis
  10.3.1. Brazil Passenger Car Component Forging Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Material Type
      10.3.1.2.2. By Component Type
      10.3.1.2.3. By Vehicle Type
  10.3.2. Colombia Passenger Car Component Forging Market Outlook
    10.3.2.1. Market Size & Forecast
      10.3.2.1.1. By Value
    10.3.2.2. Market Share & Forecast
      10.3.2.2.1. By Material Type
      10.3.2.2.2. By Component Type
      10.3.2.2.3. By Vehicle Type
  10.3.3. Argentina Passenger Car Component Forging Market Outlook
    10.3.3.1. Market Size & Forecast
      10.3.3.1.1. By Value
    10.3.3.2. Market Share & Forecast
      10.3.3.2.1. By Material Type
      10.3.3.2.2. By Component Type
      10.3.3.2.3. By Vehicle Type

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. GLOBAL PASSENGER CAR COMPONENT FORGING MARKET: SWOT ANALYSIS

14. PORTER'S FIVE FORCES ANALYSIS

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. COMPETITIVE LANDSCAPE

15.1. Accurate Steel Forgings (INDIA) Limited
  15.1.1. Business Overview
  15.1.2. Products & Services
  15.1.3. Recent Developments
  15.1.4. Key Personnel
  15.1.5. SWOT Analysis
15.2. AICHI STEEL CORPORATION
15.3. Alcoa Corporation
15.4. Aluminum Precision Products
15.5. Anderson Shumaker Company
15.6. Arconic Inc
15.7. Bharat Forge Limited
15.8. Ellwood Group Inc.
15.9. Kalyani Technoforge
15.10. Kobe Steel, Ltd.

16. STRATEGIC RECOMMENDATIONS

17. ABOUT US & DISCLAIMER



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