Automotive Forgings Market Size To Worth USD 131.75 Billion By 2030 | With A 7% CAGR By Exactitude Consultancy

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Automotive Forgings Market

The Exactitude Consultancy Automotive Forgings Market Report – Size, Trends, And Global Forecast 2024-2030

Automotive Forgings market: High-strength forged components play a critical role in automotive manufacturing, ensuring safety and durability. ” - Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, March 12, 2024 /EINPresswire / -- The qualitative report published by Exactitude Consultancy research on the Automotive Forgings Market offers an in-depth examination of the current trends, latest expansions, conditions, market size, various drivers, limitations, and key players along with their profile details. The Automotive Forgings market report offers the historical data for 2018 to 2023 and also makes available the forecast data from the year 2024 to 2030 which is based on revenue. With the help of all this information research reports helps the Market contributors to expand their market positions. With the benefit of all these explanations, this market research report recommends a business strategy for present market participants to strengthen their role in the market. This report analyzes the impact of the Covid 19 pandemic on the Automotive Forgings Market from a Global and Regional perspective.

The Automotive Forgings Market is expected to grow at 7% CAGR from 2023 to 2030. It is expected to reach above USD 131.75 billion by 2030 from USD 76.68 billion in 2023.

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Automotive forging is a manufacturing process widely used in the automotive industry to produce high-strength, precision-engineered metal components for vehicles. Forging involves shaping and compressing metal using extreme pressure and localized heating. This process results in parts with superior mechanical properties, durability, and resistance to fatigue, making them ideal for critical automotive applications.

Automakers are under increasing pressure to improve fuel efficiency and reduce emissions. Forged components, which are known for their high strength-to-weight ratio, can help in light weighting vehicles, leading to improved fuel efficiency. The demand for lightweight forged components, such as aluminium suspension parts, is expected to foster the Automotive Forging Market growth.

Top Key Players are covered in the Automotive Forgings Market Report:

Farinia Group, India Forge, CFS Machinery Co.,LTD, CIE Automotive, thyssenkrupp AG, Bharat Forge Limited, Trenton Forging, JVR Forging, Nanjing Automobile Forging Co., Ltd., LISI Group, Aichi Steel Corporation.

Recent Developments:

02 February 2023: CIE Automotive announced the acquisition of 100% of the share capital of the company Iber-Oleff Brasil, Ltda (hereinafter“Iber-Oleff Brasil”). The enterprise value of the transaction amounts to around EUR 20 million – equivalent to circa 6.7 times EBIT in 2022.

10 June 2022: The founding consortium of investors in the project, promoted by the Basque Government, includes Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy, and CIC energiGUNE, whose research has facilitated the formation of this initiative. The initiative plans to launch a production line in 4 years, with an investment of 700 million euros and the creation of more than 800 direct jobs. BASQUEVOLT's technology will enable the mass deployment of electric transport, stationary energy storage, and advanced portable devices.

Market Segment Analysis:

The Automotive Forgings Market Report provides a preliminary review of the industry, definitions, classifications, and enterprise chain shape. Market analysis is furnished for the worldwide markets which include improvement tendencies, hostile view evaluation, and key regions development. Development policies and plans are discussed, and manufacturing strategies and fee systems are also analyzed.

Automotive Forgings Market By Vehicle Type, 2020-2029, (USD Billion), (Thousand Units).

Passenger Cars

Light Commercial Vehicles

Heavy Commercial Vehicles

Automotive Forgings Market By Application, 2020-2029, (USD Billion), (Thousand Units).

Gears

Crankshaft

Pistons

Axle

Bearing

Connecting Rods

Others

Automotive Forgings Market By Material, 2020-2029, (USD Billion), (Thousand Units).

Steel

Aluminum

Others

Automotive Forgings Market By Region, 2020-2029, (USD Billion), (Thousand Units).

North America

Asia Pacific

Europe

South America

Middle East And Africa

The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:

Asia Pacific held more than 42% of the automotive forgings market revenue share in 2021 and will witness expansion in the forecast period. Asia Pacific is estimated to be the most prominent region in the global automotive forging market and will be followed by North America. The expansion of the automotive forging market in Asia Pacific will be fueled by infrastructure improvement, industrialization, and the swift economic rise of nations like India, China, and Indonesia. In addition, automobile forging producers are concentrated in China and India. Also, supportive government measures are boosting the region's industrial sector, which will accelerate the expansion of the automotive forging market in the near future.

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Significant Features and Key Highlights of the Automotive Forgings Market Reports:

– Detailed overview of The Automotive Forgings market.

– Changing market dynamics of the industry.

– In-depth market breakdown by Type, Application, etc.

– Historic, existing, and predictable market size in terms of extent and worth.

– Recent manufacturing trends and developments.

– Competitive landscape of The Automotive Forgings market.

– Approaches to significant performers and product help.

– Prospective and niche sectors/regions exhibiting promising growth.

Analyst View –

The growth of electric and hybrid vehicles is driving demand for specialized forged components. These vehicles require lightweight components for batteries and electric motors, as well as durable components for drivetrain systems. The development of advanced materials, including high-strength alloys and composites, is expanding the possibilities for forging. New materials offer improved performance characteristics, such as increased strength and corrosion resistance, and can open up new applications in the automotive sector.

The objectives of the report are:

– To analyze and forecast the market size of Automotive Forgings in the global market.

– To study the global key players, SWOT analysis, value, and market share of the global Automotive Forgings for key players.

– Determine, explain, and forecast the market by type, end-use, and region.

– Analyze market potential and advantage, opportunity and challenge, constraints and risks of key global regions.

– Discover significant trends and factors driving or restricting market growth.

– Analyze opportunities in the market for stakeholders, identifying high-growth segments.

– Critically analyze each submarket in terms of individual growth trends and its contribution to the market.

– Understand competitive developments such as agreements, expansions, new launches products, and market holdings.

– Strategically outline key players and comprehensively analyze their growth strategies.

Table of contents:

Chapter 1: Introduction, Market Drivers Product Research, and Research Objectives Scope Automotive Forgings Market

Chapter 2: Exclusive Summary – Basic Information of Automotive Forgings Market

Chapter 3: Displaying Market Dynamics – Drivers, Trends, and Challenges of Automotive Forgings

Chapter 4: Automotive Forgings Market Factor Analysis Presentation Porters Five Forces, Supply/Value Chain, PESTEL Analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Display by Type, End-User, and County 2024-2030

Chapter 6: Assessment of Major Manufacturers in Automotive Forgings Market Comprising Competitive Landscape, and Company Profiles

Chapter 7: To evaluate the Market by segments, countries, and manufacturers, with revenue share and sales by main countries for these different regions.

Chapters 8 and 9: Appendix, Methodology, and Data Source Display

Conclusion: All findings and estimates are provided at the end of the Automotive Forgings Market report. It also includes key drivers and opportunities along with regional analysis. The segment analysis is also provided in terms of type and application.

The Automotive Forgings Market report gives answers to the following:

What guidelines are followed by key performers to contest this Covid-19 condition?
What are the important matters drivers, opportunities, challenges, and dangers of the market?
will face surviving?
Which are the essential market players in the Automotive Forgings industry?
What is the forecast compound annual growth rate (CAGR) of the global market for the duration of the forecast period (2024-2030)?
What could be the anticipated value of the Automotive Forgings marketplace during the forecast period?

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