Asia Pacific Automotive Forging Market to Grow with a CAGR of 3.84% through 2030
Rising vehicle production, growing demand for lightweight and durable
components, and increasing adoption of forged parts in electric and hybrid
vehicles are the factors driving the market in the forecast period 2026–2030.
According to TechSci Research report, “Asia Pacific Automotive
Forging Market – By Country, Competition, Opportunities and Forecast, 2020-2030F”,
The Asia Pacific Automotive Forging Market was valued at USD 24.80 Billion in
2024 and is expected to reach USD 31.09 Billion by 2030 with a CAGR of 3.84%
during the forecast period.
The Asia Pacific automotive forging market is witnessing dynamic
transformation shaped by evolving vehicle architecture, electrification trends,
and the integration of smart manufacturing techniques. As automotive OEMs aim
to improve product longevity and structural reliability, forged components are
gaining traction due to their superior mechanical properties and resilience
under high load conditions. The region’s forging industry is shifting toward
value-added capabilities, such as near-net-shape and warm forging, to meet the
growing demand for parts that combine complex geometries with high tensile
strength. Forging suppliers are increasingly aligning their output with
stringent industry benchmarks for fatigue resistance, safety, and dimensional
consistency, making forged parts essential in safety-critical automotive
systems like braking assemblies, wheel hubs, and steering linkages.
The market is also shaped by evolving supply chain strategies, with
automakers looking to localize component sourcing and reduce dependency on
imported machined parts. The ability of forged parts to perform reliably in
diverse climate and usage conditions is enhancing their adoption across
mainstream and high-performance vehicle segments. Rapid tooling, digital
simulation, and die life optimization are becoming key differentiators among
forging players, especially as competition intensifies across mass production
and niche automotive platforms. As a result, the Asia Pacific automotive
forging market is steadily progressing toward a more customized,
performance-driven, and quality-centric landscape.
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Asia Pacific Automotive Forging Market
Is Segmented by Vehicle Type, Component, and Country.
In 2024, connecting rods recorded the fastest growth in the Asia
Pacific automotive forging market due to rising demand for high-performance,
lightweight engine components. Precision forging, fracture-split techniques,
and CAD-driven designs improved strength, durability, and dimensional accuracy.
The trend toward turbocharged and hybrid engines intensified the need for
advanced forged rods. India’s demand for small-displacement rods rose sharply,
while China led in technology adoption, with 62% of rods using fracture-split
steel designs.
India was the
fastest-growing country in the market, driven by record sales of passenger
vehicles and two-wheelers. Bharat Stage VI regulations pushed manufacturers to
adopt high-strength micro-alloyed forged rods. High-speed presses and
energy-efficient processes boosted output. EV adoption also supported new
demand for forged drivetrain and structural parts, securing India's lead in
regional forging growth.
Major Market Players
Operating in Asia Pacific Automotive Forging Market Are:
- Nanjin Automobile Forging Co Ltd
- ThyssenKrupp AG
- Bharat Forge Limited
- Meritor Inc
- Aichi Forge USA Inc
- Kovarna Viva
- CIE Automotive SA
- Dana Inc
- NTN Corporation
- American Axle & Manufacturing Inc
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“As vehicle design gets more complex and
performance expectations rise, the role of forging in the Asia Pacific
automotive industry is evolving fast. We're seeing a clear shift toward
precision-engineered forged components, especially in areas like connecting
rods and drivetrain parts, where strength and reliability are non-negotiable.
What’s really driving this momentum is the region’s move toward lightweighting
and electrification. Whether it’s a two-wheeler or a next-gen hybrid car,
manufacturers want parts that can handle stress, last longer, and improve
efficiency. Forging fits perfectly into that equation. The exciting part is how
forging technology itself is changing with
near-net-shape techniques, better die design, and even smart sensors entering
the picture. It’s no longer just about volume it’s about quality, innovation,
and adaptability to new vehicle platforms”, said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based global management consulting
firm.
“Asia Pacific Automotive Forging Market By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheeler), By Component (Gears, Piston, Bearing, Axel, Connecting Rods, Crankshaft, Others), By Country, Competition, Opportunities and Forecast, 2020-2030F”, assesses the market's future growth potential and
provides data on market size, trends, and forecasts. It aims to offer
comprehensive market insights, helping decision-makers make informed investment
choices. The report also highlights emerging trends, key drivers, challenges,
and opportunities in the Asia Pacific Automotive Forging Market.
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