Automotive Forging Market Latest Innovations, Demand And Bus...| MENAFN.COM

Thursday, 08 December 2022 05:09 GMT

Automotive Forging Market Latest Innovations, Demand And Business Outlook 2021 To 2031 X Herald


(MENAFN- Ameliorate Digital Consultancy)

automotive forging market 2022 – Summary

Automotive Forging Market Segmented By vehicle type such as Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles as well by automotive component Gears, Crankshaft, Axle, Bearing, Piston, Steering Knuckle, CV Joint, Beam, Fittings & Flanges, valve bodies & High-pressure valves, Others

The global automotive forging market is expected to grow at a CAGR of 7.5% from 2021 to 2031 . The growth of the automotive forging market can be attributed to the increasing demand for lightweight vehicles and the rising popularity of electric vehicles. Automotive forgings are used in a wide range of applications, including engine blocks, transmission cases, differential housings, and wheel hubs.


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Additionally, a limited range of 3-D shapes can be created using closed-die forging and impression-die forging of steel, titanium, aluminium, and other alloys. Additionally, hydraulic presses, hammer presses, and mechanical presses with capacities up to 50,000 tonnes, 20,000 tonnes, and 50,000 lbs. are typically used to create impression-die forgings. Additionally, finisher dies are employed in the bending processes used in the production of symmetric and asymmetric automotive parts.

Moreover, temperature sensitive material such as magnesium, refractory alloys, titanium alloys and nickel-based super alloys may require a special forging process or special equipment for forging in impression dies. The future stance in the global heavy-truck composite component market is anticipated to remain optimistic & the market is anticipated to witness double digit CAGR growth over the forecast period.

Key Players- Key participants of the global Automotive Forging market are following:
  • Kalyani Group
  • About Forge
  • Super Auto Forge Private Limited
  • GAZ Group
  • TBK Co., Ltd.
  • EL FORGE LIMITED
  • Schweiger fulpmes GesmbH
  • NIPPON STEEL & SUMITOMO METAL CORPORATION
  • thyssenkrupp Forging Group
  • Agrasen Engineering Industries Pvt. Ltd.
  • Advance Forgings Pvt. Ltd. and more



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Automotive Forging Market: Dynamics:

The demand of forged automotive components is likely to be generated primarily from automotive ancillary sector which supplies the finished products to automotive OEMs. Increasing demand for better driving experience in terms of smooth gear shifting & progress in acceleration and improvement in the installation of automotive parts, triggering the global forged automotive component market.

It is expected to increase demand for light commercial vehicle and passenger car in domestic as well as export market enhances the global forged automotive component market during the forecast period.

It is anticipated that fluctuating oil and gas price may hinder the global forged automotive component market during the forecast period. Furthermore, slowdown in automobile production and the availability of the alternative metal forming process is anticipated to hinder the market. On the other hand, increasing demand for electric vehicles with the chassis and ancillary parts made of polymer materials is expected to cause a decline in demand of the global forged automotive component market during the forecast period.

Forged Automotive Component Market: Segmentation:

basis of vehicle type

  • Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • Passenger Vehicles

basis of Automotive Component

  • Gears
  • Crankshaft
  • Axle
  • Bearing
  • Piston
  • Steering Knuckle
  • CV Joint
  • Beam
  • Fittings & Flanges
  • valve bodies & High-pressure valves
  • Others

basis of forging process

  • Impression Die Forging ( Hydraulic Presses, Mechanical Presses, Hammers)
  • Cold Forging
  • Open Die Forging
  • Seamless Rolled Ring Forging

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders

Automotive Forging Market Manufacturers
Automotive Forging Market Distributors/Traders/Wholesalers
Automotive Forging Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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