Summary

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 to exhibit a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 47.9 billion and is projected to 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 to a malleable state, then pressing or hammering it into the required shape with specialized dies. Furthermore, the finished forged products have high fatigue resistance, impact strength, and better performance, which significantly contribute to the reliability and safety of automotive systems.

MARKET HIGHLIGHTS
Automotive Forging Market is projected to reach USD 83.1 billion over the forecast period, owing to 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 to 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 to satisfy evolving industry demands.

Automotive Forging Market Segments:

• By Vehicle Type
o Passenger Cars
o Light Commercial Vehicles
o Heavy Commercial Vehicles
• By Material
o Aluminium
o Steel
o Others
• By Application
o Gears
o Crankshaft
o Pistons
o Axle
o Bearings
o Connecting Rods
o Others
• By Technology
o Closed Die
o Open Die
o 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 to 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 Hydro 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 to 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 to witness the fastest growth as well as to 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 to 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 into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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Table of Contents

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