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
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.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 34,576.30 million |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
7.0% |
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Predicted 2028 Value: |
USD 59,408.52 million |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
210 |
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Chapters Covered: |
Vehicle Type, Supplier Type, Forging Material, Component, Technology, Application, Marketing Channel, and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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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.
Table of Contents
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.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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