Forged Automotive Component Market to Record Stellar CAGR During 2017 – 2025

New York, United States, 2022-Apr-22 — /EPR Network/ —

Forged Automotive Component Market: Introduction

Forging 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. Furthermore, closed-die forging, impression-die forging of steel, titanium, aluminum and other alloy can produce a limited 3-D variety of shapes. Additionally, Impression-die forgings are normally produced on hydraulic presses, hammer and mechanical presses with abilities up to 50,000 tons, 20,000 tons and 50,000 lbs. additionally, finisher dies is used for manufacturing of symmetric and non-symmetric automotive component by bending operations.

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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.

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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The passenger car segment is dominated on the global forged automotive component market, owning to increasing disposable income of end users. It is anticipated that this trend is liable to follow during the forecast period. It is anticipated that lightweight commercial vehicle segment is likely to grow at a debauching rate during the forecast period. Furthermore, heavy commercial vehicle segment is expected to sluggish growth rate over the forecast period.

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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