Global Automotive Forging Market is accounted for $34,576.30 million in 2020 and is expected to reach $59,408.52 million by 2028 growing at a CAGR of 7.0% during the forecast period. The increasing demand for enriched vehicle engine performance and automation in manufacturing processes and the adoption of innovative approaches by original equipment manufacturers (OEM) are driving the market growth.
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By geography, Asia Pacific is going to have high growth during the forecast period. Expansion in infrastructure, industrialization, and rapid economic growth in countries, such as China, India, and Indonesia boost the progress of the automotive forging market in the Asia Pacific. Furthermore, India and China are the centers for automotive forging manufacturers. Additionally, favorable government initiatives are motivating the manufacturing sector in the region, which will boost the growth of the automotive forging market in near future.
Some of the key players profiled in the Automotive Forging Market include Aichi Forge Usa Inc, American Axle & Manufacturing Inc, Bharat Forge Limited, Byd Company Limited, Cfs Machinery Co Ltd, Cie Automotive S.A.Dana Inc, Farinia Group, Jvr Forging, Kovárna Viva, Meritor Inc, Nanjin Automobile Forging Co Ltd Ntn Corporation, Ramakrishna Forgings and Thyssenkrupp Ag company.
Vehicle Types Covered in Automotive Forging Market
• Passenger Cars
• Agricultural Machinery
• Construction Equipment
Supplier Types Covered:
• Local
• International (Import)
Forging Materials Covered:
• Alloy Steel
• Aluminum
• Iron
• Microalloyed Steel
Components Covered:
• Drive Components
• Engine Components
• Powertrain Components
• Steering/chassis components
• Transmission components
Technologies Covered:
• Closed Die
• Open Die
• Rolled Rings
Applications Covered:
• Axel
• Bearing
• Connecting Roads
• Crankshaft
• Gears
• Piston
Marketing Channels Covered:
• Direct Marketing
• Indirect Marketing
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