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Automotive Forgings Market Size, Trends, Growth Analysis, and Forecast | Valuates Reports
Automotive Forgings Market SizeThe global Automotive Forgings revenue was US$ 47600 million in 2022 and is forecast to a readjusted size of US$ 69080 million by 2029 with a CAGR of 5.4% during the forecast period (2023-2029).
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In India, the Automotive Forgings revenue is expected to grow from US$ million in 2022 to US$ million by 2029, at a CAGR of % during the forecast period (2023-2029).
Global Automotive Forgings key players include Bharat Forge Limited, Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, etc. Global top five manufacturers hold a share nearly 10%.
China is the largest market, with a share about 35%, followed by Europe, and India, both have a share over 30 percent.
In terms of product, Closed Die is the largest segment, with a share over 70%. And in terms of application, the largest application is Powertrain Components, followed by Chassis Components, Transmission Parts, etc.
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This report focuses on global and India Automotive Forgings market, also covers the segmentation data of other regions in regional level and county level.
India is now the world's most populous country. According to IMF (its July update to its World Economic Outlook), India's GDP growth is projected at 6.1% in 2023, powered by domestic investment. First and foremost, the key factor in India's rapid economic growth is the huge supply and demand from a large population base. Demand and supply sides working in both directions to support India's economic stability.
India is a market full of opportunities, and the demand for Automotive Forgings will continue to grow rapidly in the future.
By Type
• Closed Die Forgings
• Open Die Forgings
• Rolled Rings Forgings
By Application
• Powertrain Components
• Chassis Components
• Transmission Parts
Key Companies
Nippon Steel & Sumitomo Metal, Aichi Steel, Thyssenkrupp, AAM, Bharat Forge Limited, KOBELCO, WanXiang, FAW, Arconic, Mahindra Forgings Europe, Farinia Group, Longcheng Forging, Sinotruck, Dongfeng Forging, Jiangsu Pacific Precision Forging, Sypris Solutions, Ashok Leyland Limited, Allegheny Technologies, VDM Metals, CITIC Heavy Industries
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