North America Automotive Forging Market to Grow with a CAGR of 5.14% through 2030
Growing focus on weight
reduction, electrification of vehicles, and regulatory emission mandates are
supporting the demand for forged automotive parts. OEMs increasingly require
high-performance components suitable for modern vehicle platforms. These trends
are the factors driving the market in the forecast period 2026–2030.
According to TechSci
Research report, “North America Automotive Forging Market – Industry
Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”, The North America Automotive
Forging Market was valued at USD 16.58 billion in 2024 and is expected to reach
USD 22.40 billion by 2030 with a CAGR of 5.14% during the forecast period.
Forged automotive parts remain essential for achieving vehicle
performance and weight reduction objectives. Data from the U.S. Energy
Information Administration indicates a steady climb in fuel efficiency,
highlighting the need for lighter yet durable vehicle components. This trend
drives demand for forging techniques capable of shaping advanced high-strength
materials into critical automotive parts while meeting emission goals.
Rising car production continues to elevate the use of forged parts,
evidenced by U.S. Bureau of Economic Analysis figures showing 11.1 million
annualized vehicle assemblies in April 2025. Growth in electric and hybrid
vehicles enhances market prospects for forged steel and aluminum parts,
supporting better energy efficiency. The International Energy Agency reports EV
sales surged to 14 million units worldwide in 2023, heightening interest in
forged solutions that deliver precise geometries and weight savings.
Cost volatility in metals and energy markets challenges profitability
for forging businesses, with Bureau of Labor Statistics data showing primary
metal prices climbing 5.8% in May 2025 versus the prior year. Finding skilled
personnel for forging operations remains difficult, while sustainability
mandates require manufacturers to optimize recycling processes and minimize
environmental impacts from forging operations.
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North
America Automotive Forging Market is Segmented By Material, Component, Vehicle
and By Country.
Forged
components serve a wide range of vehicle types, from passenger cars to heavy
commercial vehicles, enabling automakers to meet structural, performance, and
safety goals. In passenger cars, forging supports critical applications like
crankshafts, control arms, and wheel hubs, contributing to improved fuel
economy, handling, and durability. The growing preference for lightweight
materials and compact designs in electric and hybrid cars has driven demand for
forged aluminum components that reduce weight while maintaining structural
integrity.
Light
commercial vehicles require forged parts to withstand high-duty cycles and
variable load conditions. Common applications include suspension arms, steering
knuckles, and transmission gears that must perform reliably under frequent
starts and stops. Forging processes ensure consistent quality and fatigue
resistance necessary for fleet operations and delivery vehicles.
Heavy
commercial vehicles rely on forged components for high-strength applications
involving torque transmission and load-bearing. Key components such as axles,
differential housings, and engine mounts are forged to endure harsh conditions
and ensure operational longevity. As regulatory authorities push for reduced
emissions even in heavier vehicle classes, forged parts play a key role in
maintaining structural integrity while contributing to overall weight reduction
strategies across the vehicle spectrum.
Mexico witnessed notable growth in automotive forging
activity during 2024 driven by expanding vehicle assembly operations and
favorable manufacturing policies. With new investments from automakers and
Tier-1 suppliers, forging capacity has been increasing to support rising
vehicle exports and domestic demand. Mexican manufacturing hubs have become
integral to the North American automotive value chain, offering competitive
labor costs and access to regional markets through trade agreements.
The growth of electric vehicle production in Mexico
is contributing to the rising need for forged components used in lightweight
drivetrain, chassis, and battery support structures. The shift toward aluminum
and high-strength steel forging is evident as suppliers align with OEM
preferences for efficient and durable EV parts. Government policies supporting
electromobility and industrial modernization are further encouraging capital
investment in forging technologies.
Major Market
Players Operating in North America 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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“The North
America automotive forging market is driven by rising demand for lightweight,
high-strength components essential in both internal combustion and electric
vehicles. Regulatory fuel economy standards, expansion in EV production, and
durable part requirements are accelerating forging adoption. Technological
advancements in simulation, green forging, and material innovation are
reshaping manufacturing capabilities. Steel and aluminum remain core materials,
while automation and digitalization optimize productivity. The United States
led the market in 2024, while Mexico emerged as the fastest-growing region.
Suppliers are adapting to environmental standards and electrification trends,
supporting resilient, energy-efficient solutions across the automotive
component spectrum.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
The report
titled “North America Automotive Forging Market – Industry Size, Share, Trends,
Opportunity, and Forecast By Material (Aluminium, Steel, Others), By Component
(Gears, Piston, Bearing, Axel, Connecting Roads, Crankshaft, Others) and By
Vehicle (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles),
By Country, By Competition, 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 North America Automotive Forging Market.
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