Forging is a manufacturing process in which shaping of metal by using compressive forces. The automotive industry is heavily using forged components in passenger cars and commercial vehicles. It is used to manufacture such as crankshafts, connecting rods, piston, axle, joints, bearings, etc. The growing demand for a better driving experience in terms of smooth gear shifting & progress in acceleration and improvement in automotive parts installation, booming the demand for automotive forging components market.
MARKET DYNAMICS
Growing investments in infrastructural development, increasing construction activity, and the mining sector are the key factors driving the demand for commercial and off-road vehicles, which in turn, booming the growth of the automotive forging components market over the forecast period. However, increasing focus on reducing vehicle weight causes a decline in demand for the forged component, which is the major restraint for the automotive forging components market growth. Further, the increasing demand for vehicles across the globe, due to the growing population and rising disposable income across the world. This factor is likely to propel the growth of the automotive forging components market.
MARKET SCOPE
The "Global Automotive Forging Components Market Analysis to 2028? is a specialized and in-depth study of the automotive forging components industry with a special focus on the global market trend analysis. The report aims to provide an overview automotive forging components market with detailed market segmentation component, material, vehicle type, and geography. The global automotive forging components market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive forging components market players and offers key trends and opportunities in the automotive forging components market.
MARKET SEGMENTATION
The global automotive forging components market is segmented on the basis of component, material, vehicle type. On the basis of component the market is segmented as engine component, chassis component, transmission component, driveline component, others. On the basis of material the market is segmented as steel, aluminum, others. On the basis of vehicle type the market is segmented as passenger cars, commercial vehicles.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive forging components market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive forging components market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive forging components market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the automotive forging components market in these regions.
MARKET PLAYERS
The reports cover key developments in the automotive forging components market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Automotive forging components market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive forging components in the global market. Below mentioned is the list of few companies engaged in the automotive forging components market.
The report also includes the profiles of key automotive forging components companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AICHI STEEL CORPORATION
- American Axle & Manufacturing, Inc.
- Bharat Forge Limited
- CFS Machinery Co., Ltd
- CIE Automotive
- Farinia Group
- Kobe Aluminum Automotive Products, LLC
- LISI AUTOMOTIVE
- thyssenkrupp AG
- Trenton Forging Company
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