APAC Automotive Forging Market to Surpass $ 29 Billion by 2023
Growing vehicle production,
technological advancements, and increasing automation and number of pre-forming
units to drive Asia-Pacific automotive forging market through 2023
According to TechSci Research report, “Asia-Pacific
Automotive Forging Market
By Vehicle Type, By Material Type, By Application, By Country, Competition
Forecast & Opportunities, 2013 – 2023”, automotive
forging market in Asia-Pacific is projected to reach $ 29.5 billion by 2023, on
the back of increasing technological advancements in automotive forging
processes across the region. Surging vehicle sales and production, growing construction
and industrial sectors, and rising demand for complex structures from auto
manufacturers to boost their vehicle performance are some of the other key
factors expected to drive the region’s automotive forging market during the forecast
period.
Browse 7 market data Tables
and 44 Figures spread through 77
Pages and an in-depth TOC on "Asia-Pacific
Automotive Forging Market"
https://www.techsciresearch.com/report/asia-pacific-automotive-forging-market/3438.html
Passenger car segment dominated the Asia-Pacific
automotive forging market in 2017 and is anticipated to maintain its market
dominance in the coming years as well, owing to growing sales of passenger cars,
backed by rising per capita income in the region. Moreover, the segment’s
market dominance can be attributed to increasing production capacity of auto
manufacturers, which are also setting up new plants to meet the expanding
demand. China is the largest demand generating region for automotive forging in
Asia-Pacific, owing to its large population base and growing automobile fleet. Bharat
Forge Limited, Thyssenkrupp AG, CIE Automotive, S.A. and NTN Corporation are
the market leaders in the Asia-Pacific automotive forging market.
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“Increasing focus of the automakers towards manufacturing
lighter vehicles without comprising on their integrity, along with growing
preference of consumers towards high performance vehicles, which require
complex structures of forged components, is expected to have a positive impact
on the automotive forging market in Asia-Pacific over the course of next five
years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Asia-Pacific Automotive
Forging Market By Vehicle Type, By Material Type, By Application, By
Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed potential of automotive forging market
across the region, and provides statistics and information on market size,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the Asia-Pacific
automotive forging market.
About TechSci Research
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