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 & Forecast, 2020-2030F

Market Overview:

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 experiencing robust momentum due to rising vehicle production volumes and increasing demand for high-strength, lightweight components that enhance fuel efficiency and vehicle performance. The push toward fuel economy and emission reductions is encouraging manufacturers to opt for forged parts over cast or machined alternatives, especially in powertrain, chassis, and transmission systems. Technological advancements such as precision forging and automated die manufacturing are improving dimensional accuracy, reducing waste, and streamlining production processes.

Market Drivers

Growing Vehicle Production Across Segments

The increase in vehicle production across various automotive segments—passenger cars, light commercial vehicles, and heavy-duty trucks—boosts the demand for forged components. These parts are integral to the structural and functional integrity of vehicles, including drivetrain, engine, and transmission systems. As global vehicle manufacturers scale operations to meet rising demand for mobility, forging companies are benefiting from increased orders for both standard and precision-engineered parts. For instance, global vehicle sales reached 92.4 million units in 2023, marking a 10.8% increase from 2022. The strong sales growth, bolstered by an 11% rise in December, signals increasing demand and production. The continuous upward trend in global vehicle sales reflects robust recovery and heightened consumer demand across key markets, including North America, Europe, and Asia. This surge highlights the automotive industry's resilience and adaptability, indicating a promising outlook for the sector.

Rising Demand for Lightweight Components

The shift toward fuel efficiency and reduced emissions is driving automotive manufacturers to prioritize lightweight materials and components. Forged parts, especially those made from aluminum alloys, are significantly lighter than traditional cast or machined parts while offering superior strength and durability. This makes them an ideal choice for critical applications such as suspension arms, crankshafts, and connecting rods. The weight savings achieved by using forged parts directly contribute to better fuel economy and performance, which aligns with evolving regulatory and consumer expectations. As electric and hybrid vehicles gain traction, the need for lightweight solutions intensifies due to the weight of battery packs and electronic systems.

Technological Advancements in Forging Processes

Innovations in forging technologies are transforming the quality, efficiency, and capabilities of forged automotive components. Techniques such as near-net-shape forging, precision forging, and isothermal forging have made it possible to manufacture complex geometries with minimal post-processing. These advancements are reducing material wastage, shortening cycle times, and lowering production costs, all while meeting tight dimensional tolerances. Computer-aided design and simulation tools are allowing engineers to model stress distribution and optimize die designs before actual production, improving product reliability.

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Key Market Challenges

High Capital Investment Requirements

Forging operations demand substantial capital investment in machinery, tooling, and infrastructure. High-tonnage presses, sophisticated die systems, and heat treatment facilities are essential for producing high-quality automotive forgings. The cost of acquiring and maintaining such equipment poses a barrier for new entrants and small-scale manufacturers. In addition to equipment, forging requires precise temperature control and process parameters, which further escalates energy costs. Setting up in-house forging capabilities also demands specialized knowledge and skilled operators, whose availability is often limited.

Complexity in Forging High-Performance Materials

Forging high-performance materials such as titanium and advanced aluminum alloys introduces significant technical challenges. These materials offer superior strength-to-weight ratios but also exhibit characteristics like high reactivity at elevated temperatures or poor formability, complicating the forging process. The tools and dies used must withstand extreme stress and temperature conditions, leading to increased wear and frequent replacements. Forging such materials often demands precise control over heating rates, deformation speeds, and cooling cycles to prevent defects like cracking, distortion, or residual stress accumulation.

Key Market Trends

Rising Use of Forged Parts in Electric Vehicles

As electric vehicle production expands, the demand for forged components is rising in areas such as electric drivetrains, suspension systems, and battery casings. EVs require components that offer high strength-to-weight ratios to support battery loads without compromising on safety or durability. Forged aluminum and high-strength steel parts are being designed to meet these requirements, offering reduced weight along with enhanced mechanical integrity. Unlike internal combustion engine vehicles, EVs concentrate torque delivery, which increases the load on components such as axles and gears, necessitating stronger parts that forged processes are well-suited to produce. For instance, global electric vehicle (EV) sales surged by 49% in the first half of 2023, reaching 6.2 million units. EVs now account for 16% of global light vehicle sales, with China leading at 55% of the market share. Europe and the U.S. followed, showing strong growth, especially in the latter’s 97% year-on-year increase. Tesla and BYD dominate global sales, with Tesla's Model Y leading, and BYD witnessing impressive sales growth. The overall market  has grown by almost 39% in 2023, reinforcing the EV sector's transformative momentum.

Integration of Smart Forging Technologies

Smart forging involves embedding sensors, data analytics, and control systems into the forging process to enhance real-time monitoring and operational efficiency. Manufacturers are increasingly adopting Industry 4.0 principles to digitize forging operations and improve traceability, consistency, and defect detection. Sensor-equipped presses can collect data on pressure, temperature, and force distribution during each cycle, allowing engineers to fine-tune parameters for optimal results. Machine learning algorithms are being developed to predict equipment wear or detect early signs of failure, enabling predictive maintenance and reducing unplanned downtime.

Focus on Sustainability and Green Forging Practices

Environmental sustainability is influencing forging practices, prompting the industry to adopt greener technologies and cleaner energy sources. Manufacturers are investing in electric induction heating systems that consume less energy and reduce carbon emissions compared to traditional gas-fired furnaces. Closed-die forging processes are being optimized to reduce material wastage, while water-based lubricants and recyclable materials are gaining preference in forging operations. Lifecycle assessment tools are being integrated into product development to evaluate the environmental footprint of forged parts from raw material sourcing to end-of-life.   

Segmental Insights

Vehicle Type Insights

In 2024, the passenger car segment dominated the Asia Pacific automotive forging market, driven by the surge in demand for fuel-efficient and performance-oriented vehicles. The growing preference for compact and mid-sized passenger cars led to increased production volumes, which directly boosted the requirement for forged components such as crankshafts, connecting rods, transmission gears, and steering knuckles. Forged parts are crucial for ensuring the structural integrity and operational efficiency of engines and drivetrains, making them indispensable in passenger car manufacturing. Automakers increasingly adopted lightweight forged aluminum components to meet stringent fuel efficiency standards and emission regulations. For instance, India which is one of the major market in APAC for automotive, passenger vehicle sales hit a record 4.3 million units in FY25, led by utility vehicles making up 65% of total sales. Exports rose 14.6% to 7.7 lakh units, boosting India’s global manufacturing presence. Two-wheeler sales grew 9.1% to 19.6 million units, with EVs crossing a 6% share. SIAM expects growth to continue in FY26 amid strong demand and supportive policies.

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Country Insights

In 2024, China led the Asia Pacific automotive forging market due to its massive vehicle production and advanced manufacturing base. Strong demand across passenger and commercial vehicle segments drove the use of forged parts like engine and drivetrain components. Investments in automation and precision forging, along with a focus on lightweight materials such as aluminum and high-strength steel, reinforced China's dominant position. For instance, In May 2025, China’s vehicle production and sales rose 11.6% and 11.2% y/y to 2.649 million and 2.686 million units, driven by strong PV and NEV demand. PV sales grew 13.3% y/y, while NEV sales jumped 36.9% y/y to 1.307 million units. BEVs led growth with a 47.2% rise in production. Vehicle exports rose 14.5% y/y to 551,000 units, with NEV exports surging 120% y/y to 212,000 units.

Recent Developments

• ​In 2025, marked the debut of Nokian Tyres' Surpass AS01, an ultra-high-performance tire offering a 55,000-mile treadwear warranty and Aramid-reinforced sidewalls for added durability. Designed for both electric and gas vehicles, it features low rolling resistance, precise braking, and a high-silica compound.
• In 2024, Kenda launched two ultra-high-performance tires—the Vezda UHP A/S2 and Vezda UHP A/S2-EV. The A/S2 offers sporty all-season handling, a 50,000-mile warranty, and comes in nearly 40 sizes. The EV version features acoustic foam for quiet rides, lower rolling resistance, and a 30,000-mile warranty, targeting electric vehicle performance needs.
• In 2024, Hankook introduced the fourth-generation Ventus Evo ultra-high-performance summer tire, featuring AI-developed compounds for improved grip, wet handling, and braking. It offers 32% longer mileage, enhanced stability, and reduced rolling resistance. Available in 94 sizes (17″–23″), the tire will launch in 2025.
• In 2023, Bridgestone launched the Potenza Sport AS, its first all-season ultra-high-performance tire. Featuring ENLITEN technology and PeakLife polymers, it offers strong wet and dry grip, winter capability, and a 50,000-mile warranty. Available in 48 sizes, with more to follow.

Key Market Players

• 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

Report Scope:

In this report, the Asia Pacific Automotive Forging Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•           Asia Pacific Automotive Forging Market, By Component:

o    Gears

o    Piston

o    Bearing

o    Axel

o    Connecting Rods

o    Crankshaft

o    Others

•           Asia Pacific Automotive Forging Market, By Vehicle Type:

o    Passenger Car 

o    Commercial Vehicle

o    Two-wheeler

•           Asia Pacific Automotive Forging Market, By Country:

o    China

o    India

o    Japan

o    Indonesia

o    Thailand

o    South Korea

o    Australia

o    Rest of APAC

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Asia Pacific Automotive Forging Market.

Available Customizations:

Asia Pacific Automotive Forging Market report with the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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