Press Release

Europe Automotive Forging Market to Cross $ 15 Billion by 2023

Technological advancements, growing vehicle production and increasing automation in automotive forging process to drive Europe automotive forging market through 2023

According to TechSci Research report, Europe Automotive Forging Market By Vehicle Type, By Material Type, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023”, automotive forging market in Europe is projected to reach $ 15.8 billion by the end of 2023. Technological advancements, increasing vehicle production and sales, and rising demand for complex structures from auto manufacturers to boost the vehicle performance are among the key driving factors for the region’s automotive forging market. Bharat Forge Limited, Thyssenkrupp AG, CIE Automotive, S.A., NTN Corporation and American Axle & Manufacturing, Inc. are some of the major players operating in Europe automotive forging market.

Browse 56 market data Figures and Tables spread through 84 Pages and an in-depth TOC on "Europe Automotive Forging Market"

Accounting for around two-third of the value market, passenger car dominated the Europe automotive forging market in 2017, and the trend is anticipated to continue over the coming years as well, on the back of growing sales of passenger cars across the region. However, in the coming years, commercial vehicle segment covering light and medium & heavy vehicles is anticipated to emerge as the fastest growing segment, owing to increasing number of construction and industrial projects.

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“As major companies are carrying out their research & development operations and expansion activities, competition in the European automotive forging market is expected to intensify in the coming years. Moreover, increasing vehicle production and growing operations of global automakers would have a positive impact on the automotive forging market in Europe over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Europe 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 Europe automotive forging market.


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