Press release
Forged Automotive Component Market To Witness A Major Overhaul Between 2017-2025
Forged Automotive Component Market: IntroductionForging is manufacturing process, for shaping of metal by applying compressive forces with the related equipment. Automotive industry depends significantly on steel forged automotive components owning to increasing vehicle production. Forged steel is used for manufacturing of automotive components such as crankshafts, axle, joints and bearings, and is necessary for handling the torque.
Forged Automotive Component 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.
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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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Forged Automotive Component Market: Regional Outlook
It is projected that North America is dominated on the global forged automotive component market owing to robust demand from the automotive industry in particular countries such as U.S., Canada. Europe is followed by North America in the global automotive component market. Germany pegged for a foremost share of the forged automotive components produced in Europe, followed by the UK owning to increasing sales of cars as well rising research & development investment by automotive component manufacturers.
Asia Pacific is also generating significant revenue from the global automotive component market, possessing to increasing manufacturing activities in emerging countries such as China, India and Japan. Furthermore, The Middle East and Africa are composed to witness significant growth in demand for forged automotive component owning to growing industrialization.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Forged Automotive Component Market: Key Players
Key participants of the global forged automotive component market are following:
Kalyani Group
Om 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.
SDF Automotive
Happy Forgings Limited
Indo Schöttle Auto Parts Pvt. Ltd.
Mueller Brass Co.
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