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Automotive Forging Market

Automotive Forging Market Forecasts to 2028 – Global Analysis By Supplier Type (Local, International), Technology (Closed Die, Open Die), Application (Axel, Bearing, Gears, Piston), Channel (Direct, Indirect) and By Geography

4.8 (45 reviews)
Published: July 2021 ID: SMRC20777
4.8 (45 reviews)
Published: July 2021 ID: SMRC20777

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Automotive Forging Market is accounted for $34,576.30 million in 2020 and is expected to reach $59,408.52 million by 2028 growing at a CAGR of 7.0% during the forecast period. The increasing demand for enriched vehicle engine performance and automation in manufacturing processes and the adoption of innovative approaches by original equipment manufacturers (OEM) are driving the market growth. However, fluctuation in the cost of raw materials is hampering the growth of the market.

Automotive forging involves the manufacturing of automotive components, including engine parts, bearings, gears, chassis, axles, and others. The automotive forging process can be carried out on materials either in the hot or cold state, depending upon the mechanical properties essential. Automotive forged products offer high strength-to-weight ratios, strength, and superior toughness. The most common materials exploited in the automotive forging market are steel and aluminum. Steel is generally used in the automotive forging industry due to its availability, strength, and high resilience.

Based on the supplier type, local is going to have lucrative growth during the forecast period. This dominance is accredited to the high demographic growth rate, particularly in the developing countries that include more raw material production and cheap labor convenience. Furthermore, the growing provision of the government and their favorable initiatives to encourage local production of forged parts in numerous urban and suburban parts of the country is expected to increase the growth of the market.

By geography, Asia Pacific is going to have high growth during the forecast period. Expansion in infrastructure, industrialization, and rapid economic growth in countries, such as China, India, and Indonesia boost the progress of the automotive forging market in the Asia Pacific. Furthermore, India and China are the centers for automotive forging manufacturers. Additionally, favorable government initiatives are motivating the manufacturing sector in the region, which will boost the growth of the automotive forging market in near future. 

Some of the key players profiled in the Automotive Forging Market include Aichi Forge Usa Inc, American Axle & Manufacturing Inc, Bharat Forge Limited, Byd Company Limited, Cfs Machinery Co Ltd, Cie Automotive S.A.Dana Inc, Farinia Group, Jvr Forging, Kovárna Viva, Meritor Inc, Nanjin Automobile Forging Co Ltd Ntn Corporation, Ramakrishna Forgings and  Thyssenkrupp Ag company.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 34,576.30 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

7.0%

Predicted 2028 Value:

USD 59,408.52 million

Forecast Years:

2021-2028

Tables, Graphs& Figures

210

Chapters Covered:

Vehicle Type, Supplier Type, Forging Material, Component, Technology, Application, Marketing Channel, and Region

Core Drivers and Opportunities:

  • Increasing demand for enriched vehicle engine performance
  • Automation in manufacturing processes
  • Adoption of innovative approaches

Restraining Factors & Market Threats:

  • Fluctuation in the cost of raw materials


Vehicle Types Covered:
• Passenger Cars
• Agricultural Machinery
• Construction Equipment

Supplier Types Covered:
• Local
• International (Import)   

Forging Materials Covered:
• Alloy Steel
• Aluminum
• Iron
• Microalloyed Steel  

Components Covered:
• Drive Components
• Engine Components
• Powertrain Components
• Steering/chassis components
• Transmission components

Technologies Covered:
• Closed Die
• Open Die
• Rolled Rings

Applications Covered:
• Axel
• Bearing
• Connecting Roads
• Crankshaft
• Gears
• Piston

Marketing Channels Covered:
• Direct Marketing
• Indirect Marketing

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Automotive Forging Market is majorly driven by the increasing demand for enriched vehicle engine performance and automation in manufacturing processes.

The local segment is growing at a highest CAGR owing to the high demographic growth rate, particularly in the developing countries that include more raw material production and cheap labor convenience.

Europe dominated with a significant market share due to the factors such as increasing sales of vehicles, and increasing number of construction and infrastructure projects across different countries in the region.

Asia Pacific market is growing at a highest CAGR owing to expansion in infrastructure, industrialization, and rapid economic growth in countries which will boost the progress of the automotive forging market.

Key players in Automotive Forging Market include Aichi Forge UsaInc, American Axle & Manufacturing Inc, Bharat Forge Limited, Byd Company Limited, Cfs Machinery Co Ltd, Cie Automotive S.A.DanaInc, Farinia Group, Jvr Forging, Kovárna Viva, Meritor Inc, Nanjin Automobile Forging Co Ltd Ntn Corporation, Ramakrishna Forgings and Thyssenkrupp Ag company.

1 Executive Summary        
         
2 Preface 
       
 2.1 Abstract       
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology       
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions      
         
3 Market Trend Analysis        
 3.1 Introduction       
 3.2 Drivers        
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats       
 3.6 Technology Analysis       
 3.7 Application Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
         
4 Porters Five Force Analysis         
 4.1 Bargaining Power Of Suppliers       
 4.2 Bargaining Power Of Buyers       
 4.3 Threat Of Substitutes       
 4.4 Threat Of New Entrants       
 4.5 Competitive Rivalry       
         
5 Global Automotive Forging Market, By Vehicle Type         
 5.1 Introduction       
 5.2 Passenger Cars       
  5.2.1 Light Commercial Vehicle      
  5.2.2 Medium & Heavy Commercial Vehicle      
 5.3 Agricultural Machinery       
 5.4 Construction Equipment       
         
6 Global Automotive Forging Market, By Supplier Type        
 6.1 Introduction       
 6.2 Local       
 6.3 International (Import)       
         
7 Global Automotive Forging Market, By Forging Material        
 7.1 Introduction       
 7.2 Alloy Steel       
 7.3 Aluminum       
 7.4 Iron       
 7.5 Microalloyed Steel       
         
8 Global Automotive Forging Market, By Component        
 8.1 Introduction       
 8.2 Drive Components       
 8.3 Engine Components       
 8.4 Powertrain Components       
 8.5 Steering/Chassis Components       
 8.6 Transmission Components       
         
9 Global Automotive Forging Market, By Technology         
 9.1 Introduction       
 9.2 Closed Die       
 9.3 Open Die       
 9.4 Rolled Rings        
         
10 Global Automotive Forging Market, By Application        
 10.1 Introduction       
 10.2 Axel       
 10.3 Bearing       
 10.4 Connecting Roads       
 10.5 Crankshaft       
 10.6 Gears       
 10.7 Piston       
         
11 Global Automotive Forging Market, By Marketing Channel        
 11.1 Introduction       
 11.2 Direct Marketing       
 11.3 Indirect Marketing       
         
12 Global Automotive Forging Market, By Geography        
 12.1 Introduction       
 12.2 North America        
  12.2.1 US      
  12.2.2 Canada      
  12.2.3 Mexico      
 12.3 Europe       
  12.3.1 Germany      
  12.3.2 UK      
  12.3.3 Italy      
  12.3.4 France      
  12.3.5 Spain      
  12.3.6 Rest of Europe      
 12.4 Asia Pacific        
  12.4.1 Japan      
  12.4.2 China      
  12.4.3 India      
  12.4.4 Australia      
  12.4.5 New Zealand      
  12.4.6 South Korea      
  12.4.7 Rest of Asia Pacific      
 12.5 South America       
  12.5.1 Argentina      
  12.5.2 Brazil      
  12.5.3 Chile      
  12.5.4 Rest of South America      
 12.6 Middle East & Africa       
  12.6.1 Saudi Arabia      
  12.6.2 UAE      
  12.6.3 Qatar      
  12.6.4 South Africa      
  12.6.5 Rest of Middle East & Africa      
          
13 Key Developments        
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 13.2 Acquisitions & Mergers       
 13.3 New Product Launch       
 13.4 Expansions       
 13.5 Other Key Strategies       
         
14 Company Profiling        
 14.1 Aichi Forge Usa Inc       
 14.2 American Axle & Manufacturing Inc       
 14.3 Bharat Forge Limited       
 14.4 Byd Company Limited       
 14.5 Cfs Machinery Co Ltd       
 14.6 Cie Automotive S.A.       
 14.7 Dana Inc       
 14.8 Farinia Group       
 14.9 Jvr Forging       
 14.10 Kovárna Viva       
 14.11 Meritor Inc       
 14.12 Nanjin Automobile Forging Co Ltd        
 14.13 Ntn Corporation       
 14.14 Ramakrishna Forgings       
 14.15 Thyssenkrupp Ag       


List of Tables         
1 Global Automotive Forging Market Outlook, By Region (2019-2028) (US $MN)         
2 Global Automotive Forging Market Outlook, By Vehicle Type (2019-2028) (US $MN)         
3 Global Automotive Forging Market Outlook, By Passenger Cars (2019-2028) (US $MN)         
4 Global Automotive Forging Market Outlook, By Light Commercial Vehicle (2019-2028) (US $MN)         
5 Global Automotive Forging Market Outlook, By Medium & Heavy Commercial Vehicle (2019-2028) (US $MN)         
6 Global Automotive Forging Market Outlook, By Agricultural Machinery (2019-2028) (US $MN)         
7 Global Automotive Forging Market Outlook, By Construction Equipment (2019-2028) (US $MN)         
8 Global Automotive Forging Market Outlook, By Supplier Type (2019-2028) (US $MN)         
9 Global Automotive Forging Market Outlook, By Local (2019-2028) (US $MN)         
10 Global Automotive Forging Market Outlook, By International (Import) (2019-2028) (US $MN)         
11 Global Automotive Forging Market Outlook, By Forging Material (2019-2028) (US $MN)         
12 Global Automotive Forging Market Outlook, By Alloy Steel (2019-2028) (US $MN)         
13 Global Automotive Forging Market Outlook, By Aluminum (2019-2028) (US $MN)          
14 Global Automotive Forging Market Outlook, By Iron (2019-2028) (US $MN)         
15 Global Automotive Forging Market Outlook, By Microalloyed Steel (2019-2028) (US $MN)         
16 Global Automotive Forging Market Outlook, By Component (2019-2028) (US $MN)         
17 Global Automotive Forging Market Outlook, By Drive Components (2019-2028) (US $MN)         
18 Global Automotive Forging Market Outlook, By Engine Components (2019-2028) (US $MN)         
19 Global Automotive Forging Market Outlook, By Powertrain Components (2019-2028) (US $MN)         
20 Global Automotive Forging Market Outlook, By Steering/chassis components (2019-2028) (US $MN)         
21 Global Automotive Forging Market Outlook, By Transmission components (2019-2028) (US $MN)         
22 Global Automotive Forging Market Outlook, By Technology (2019-2028) (US $MN)         
23 Global Automotive Forging Market Outlook, By Closed Die (2019-2028) (US $MN)         
24 Global Automotive Forging Market Outlook, By Open Die (2019-2028) (US $MN)         
25 Global Automotive Forging Market Outlook, By Rolled Rings  (2019-2028) (US $MN)         
26 Global Automotive Forging Market Outlook, By Application (2019-2028) (US $MN)         
27 Global Automotive Forging Market Outlook, By Axel (2019-2028) (US $MN)         
28 Global Automotive Forging Market Outlook, By Bearing (2019-2028) (US $MN)         
29 Global Automotive Forging Market Outlook, By Connecting Roads (2019-2028) (US $MN)         
30 Global Automotive Forging Market Outlook, By Crankshaft (2019-2028) (US $MN)         
31 Global Automotive Forging Market Outlook, By Gears (2019-2028) (US $MN)         
32 Global Automotive Forging Market Outlook, By Piston (2019-2028) (US $MN)         
33 Global Automotive Forging Market Outlook, By Marketing Channel (2019-2028) (US $MN)         
34 Global Automotive Forging Market Outlook, By Direct Marketing (2019-2028) (US $MN)         
35 Global Automotive Forging Market Outlook, By Indirect Marketing (2019-2028) (US $MN)          
         
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in the same manner above.         

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