Automotive Hot Forged Parts Market size is estimated to be USD 3.5 Billion in 2024 and is expected to reach USD 5.9 Billion by 2033 at a CAGR of 6.3% from 2026 to 2033.
In 2022, the global automotive hot forged parts market was valued at approximately USD 49.11 billion, with projections indicating growth to USD 75.57 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.7% over the forecast period. The Asia Pacific region led the market, accounting for around 35% of the total revenue, driven by high automotive production and demand in countries like China and India. North America contributed approximately 28% to the market, with the United States alone projected to reach USD 15.7 billion by 2031, spurred by stringent vehicle safety regulations. Europe held a 22% share, with countries such as Germany, France, and the United Kingdom being major contributors due to their strong automotive industries and focus on sustainability and innovation. The markets expansion is fueled by the increasing demand for durable and lightweight components to enhance fuel efficiency and reduce emissions. Advancements in forging technologies, including precision forging and the use of high performance materials like aluminum and titanium, are enabling the production of complex, high strength parts essential for modern vehicles. The rising adoption of electric vehicles (EVs) further amplifies the need for such components, as EVs require lightweight materials to optimize battery performance and extend range. Additionally, the emphasis on vehicle safety and compliance with regulatory standards continues to drive the demand for high quality forged components across all regions.
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ThyssenKrupp (Germany)
ZF Friedrichshafen (Germany)
Aisin Seiki (Japan)
Hyundai Mobis (Korea)
Cummins (USA)
Eaton (USA)
Toyota Industries (Japan)
JTEKT (Japan)
GKN (UK)
Magneti Marelli (Italy)
BorgWarner (USA)
Hitachi (Japan)
TVS Group (India)
JATCO (Japan)
American Axle & Manufacturing (USA)
Guangxi Yuchai Machinery Group (China)
Linamar (Canada)
GAC Component (China)
KYB (Japan)
Martinrea International (Canada)
SeAH Besteel (Korea)
SHOWA (Japan)
FAW Jiefang Automotive (China)
Kalyani Group (India)
Dongfeng Motor Parts and Components Group (China)
Musashi Seimitsu Industry (Japan)
Aichi Steel (Japan)
Tower International (USA)
Wanxiang Qianchao (China)
Anand Automotive (India)
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Hot Forged Parts Market
Passenger Vehicles
Commercial Vehicles
Heavy-Duty Trucks
Performance Vehicles
Electric Vehicles
Hot Die Forging
Open Die Forging
Automated Forging
Isothermal Forging
Precision Forging
Steel
Aluminum
Alloy Steel
Carbon Steel
Titanium
Crankshafts
Connecting Rods
Transmission Parts
Axles
Suspension Components
Original Equipment Manufacturers (OEMs)
Aftermarket Suppliers
Automotive Parts Distributors
Automotive Repair Shops
Automotive Research and Development
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Hot Forged Parts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Hot Forged Parts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Hot Forged Parts Market, By Type
6. Global Automotive Hot Forged Parts Market, By Application
7. Global Automotive Hot Forged Parts Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Hot Forged Parts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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