Press Release

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"

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

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.



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