Forged Automotive Components Market to Reach US$ 70.7 Bn by 2032 as Key Players Bharat Forge, Thyssenkrupp, Aichi Forge, American Axle, and CIE Automotive Expand Global Capabilities

The forged automotive components market plays a vital role in the global automotive supply chain, offering high-strength, durable, and safety-critical parts used across passenger and commercial vehicles. Forging processes enhance the mechanical properties of metal components, making them indispensable for applications such as crankshafts, connecting rods, gears, axles, and steering components. As automakers continue to prioritize vehicle performance, fuel efficiency, and safety compliance, forged components remain a preferred choice over cast or fabricated alternatives. The market's evolution is closely aligned with trends such as lightweighting, electrification, and improved powertrain efficiency, all of which reinforce the relevance of advanced forging technologies.

According to Persistence Market Research, the global forged automotive components market is valued at US$ 50.3 Bn in 2025 and is projected to reach US$ 70.7 Bn by the end of 2032, expanding at a CAGR of 5.0% over the forecast period. This steady growth reflects sustained demand from original equipment manufacturers and tier-one suppliers, particularly for precision-engineered forged parts that support long vehicle lifecycles. The market benefits from consistent replacement demand, rising global vehicle parc, and the continued reliance on forged components in both internal combustion and hybrid vehicle architectures.

From a segmentation perspective, powertrain and drivetrain components continue to represent the leading segment due to their extensive use of forged parts for torque transmission and load-bearing functions. Geographically, Asia Pacific stands out as the leading region for the forged automotive components market, driven by its large-scale automotive manufacturing base, strong presence of forging companies, and consistent vehicle production volumes. The region's dominance is reinforced by ongoing investments in manufacturing capacity and the availability of skilled labor, making it a global hub for forged automotive component production.

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The key players studied in the report include:

• ThyssenKrupp AG (Germany)
• CIE Automotive (Spain)
• NTN Corporation (Japan)
• American Axle and Manufacturing Inc. (United States)
• Bharat Forge Limited (India)
• Ramkrishna Forgings (India)
• Dana Limited (United States )
• Meritor Inc. (United States)
• ZF Friedrichshafen AG (Germany)
• Kalyani Group
• Om Forge
• Super Auto Forge Private Limited
• GAZ Group
• TBK Co., Ltd.
• EL Forge Limited
• Schweiger Fulpmes GmbH
• Nippon Steel & Sumitomo Metal Corporation
• Agrasen Engineering Industries Pvt. Ltd.

Key Highlights from the Report

➤ The forged automotive components market is projected to grow from US$ 50.3 Bn in 2025 to US$ 70.7 Bn by 2032-end at a CAGR of 5.0%.
➤ Demand for high-strength and fatigue-resistant automotive parts continues to favor forged components over alternative manufacturing methods.
➤ Powertrain and drivetrain applications remain the dominant revenue-generating segments due to their reliance on forged metal parts.
➤ Asia Pacific leads the global market, supported by strong automotive production and a dense network of forging manufacturers.
➤ Technological advancements in precision forging are improving material efficiency and component performance.
➤ Long-term OEM partnerships and replacement demand are sustaining market stability across economic cycles.

Segmentation of Forged Automotive Components Industry Research

By Vehicle Type:

• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Vehicles

By Automotive Component:

• Connecting rods
• Injectors
• Gears
• Crankshafts
• Axles
• Bearings
• Pistons
• Steering Knuckles
• CV Joints
• Beams
• Fittings & Flanges
• Valve Bodies & High-pressure Valves
• Others

By Material:

• Steel
• Aluminium
• Other

By Forging Process:

• Impression Die Forging
o Hydraulic Presses
o Mechanical Presses
o Hammers
• Cold Forging
• Open Die Forging
• Seamless Rolled Ring Forging

By Application:

• Power Train Components
• Chassis Components
• Transmission Parts
• Other Parts

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• MEA

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Regional Insights

Asia Pacific continues to dominate the forged automotive components market, supported by large-scale vehicle manufacturing in key automotive hubs. The region benefits from integrated supply chains, cost-effective production capabilities, and strong domestic demand for passenger and commercial vehicles. Local forging companies often maintain long-term relationships with global OEMs, ensuring consistent order flows and capacity utilization. Continuous investments in modern forging equipment further strengthen the region's competitive position.

North America and Europe represent mature but technologically advanced markets for forged automotive components. These regions emphasize precision engineering, quality standards, and compliance with stringent safety regulations. Demand is largely driven by replacement markets and the production of high-performance and premium vehicles. The presence of established automotive brands and a focus on advanced manufacturing practices support stable demand for forged components across these regions.

Market Drivers

The increasing demand for durable and high-performance automotive components is a fundamental driver of the forged automotive components market. Forged parts provide superior mechanical properties, including enhanced toughness and resistance to impact and fatigue, which are essential for critical vehicle systems. As automakers strive to improve vehicle reliability and safety, forged components remain a preferred solution. This demand is consistent across passenger and commercial vehicles, ensuring a broad application base for forging manufacturers.

Another significant driver is the ongoing emphasis on lightweight yet strong vehicle architectures. Forging allows manufacturers to optimize material usage while maintaining structural integrity, supporting fuel efficiency and performance goals. Advances in metallurgical science and forging processes have enabled the production of complex geometries with reduced material waste. These innovations enhance the economic viability of forging, reinforcing its adoption across multiple automotive platforms.

Market Restraints

Despite its advantages, the forged automotive components market faces certain restraints related to high initial capital investment. Forging operations require substantial expenditure on heavy machinery, tooling, and energy-intensive processes. For smaller manufacturers, these costs can limit scalability and hinder entry into the market. Additionally, fluctuations in raw material prices can impact production costs and profit margins, creating financial uncertainty for forging companies.

Another restraint is the gradual shift toward alternative materials and manufacturing techniques in select applications. While forged metal components remain essential for many systems, certain non-critical parts are increasingly being produced using lightweight composites or advanced casting methods. This selective substitution can moderate demand growth in specific segments, requiring forging companies to continuously innovate and focus on high-value applications to maintain competitiveness.

Market Opportunities

The transition toward hybrid and electrified vehicles presents new opportunities for the forged automotive components market. While electric vehicles use fewer traditional powertrain components, they still require forged parts for suspension, steering, and structural applications. Hybrid vehicles, in particular, continue to rely on forged engine and drivetrain components, sustaining demand during the industry's transition phase. This evolving vehicle mix creates opportunities for forging companies to diversify their product portfolios.

Emerging markets also offer significant growth potential for forged automotive components manufacturers. Rising vehicle ownership, infrastructure development, and industrialization are driving demand for reliable automotive components in these regions. By establishing localized production and strengthening OEM partnerships, forging companies can capitalize on long-term growth prospects. Continuous process optimization and value-added services further enhance opportunities in an increasingly competitive global market.

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Recent developments in the market include capacity expansion initiatives and strategic collaborations aimed at improving production efficiency and meeting evolving OEM requirements.

• In March 2024, a leading forging manufacturer announced the expansion of its automotive forging facility to support increased demand from global OEMs.
• In September 2024, a major industry player introduced advanced precision forging technologies to enhance component quality and reduce material waste.

Frequently Asked Questions

→ What are the main factors influencing the Forged Automotive Components Market during 2025-2032?
→ Which companies are the major participants in the Forged Automotive Components Market?
→ What are the market's opportunities, risks, and overall competitive structure?
→ How do leading Forged Automotive Components Market companies compare in terms of product offerings and strategic positioning?
→ How are market types, applications, revenue, and value assessed within the Forged Automotive Components Market?

Future Opportunities and Growth Prospects

The future of the forged automotive components market is shaped by a combination of technological innovation, evolving vehicle architectures, and sustained demand for high-strength components. As automakers balance performance, safety, and efficiency requirements, forged components will continue to play a critical role in vehicle design. Ongoing investments in precision forging, material science, and process automation are expected to enhance productivity and product quality. With the market projected to grow steadily through 2032, manufacturers that align their strategies with emerging automotive trends are well positioned to capture long-term value and maintain competitive advantage.

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