Ship Spares And Equipment Market to Witness Exponential Rise in Revenue Share During the Forecast Period 2017 – 2025

Forging is manufacturing process, for shaping of metal by applying compressive forces with the related equipment. Automotive industry depends significantly on steel forged automotive components owning to increasing vehicle production. Forged steel is used for manufacturing of automotive components such as crankshafts, axle, joints and bearings, and is necessary for handling the torque. Furthermore, closed-die forging, impression-die forging of steel, titanium, aluminum and other alloy can produce a limited 3-D variety of shapes. Additionally, Impression-die forgings are normally produced on hydraulic presses, hammer and mechanical presses with abilities up to 50,000 tons, 20,000 tons and 50,000 lbs. additionally, finisher dies is used for manufacturing of symmetric and non-symmetric automotive component by bending operations. Moreover, temperature sensitive material such as magnesium, refractory alloys, titanium alloys and nickel-based super alloys may require a special forging process or special equipment for forging in impression dies. The future stance in the global heavy-truck composite component market is anticipated to remain optimistic & the market is anticipated to witness double digit CAGR growth over the forecast period.

FACTS AT A GLANCE

Companies: Kalyani Group,Om Forge,Super Auto Forge Private Limited,GAZ Group,TBK Co., Ltd.,EL FORGE LIMITED,Schweiger fulpmes GesmbH,NIPPON STEEL & SUMITOMO METAL CORPORATION,thyssenkrupp Forging Group,Agrasen Engineering Industries Pvt. Ltd.,Advance Forgings Pvt. Ltd.,SDF Automotive,Happy Forgings Limited,Indo Schöttle Auto Parts Pvt. Ltd.,Mueller Brass Co.

Coverage: All major geographies and key segments

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Segments: Forged Automotive Component market is segmented by vehicle type such as Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles as well by automotive component Gears,Crankshaft,Axle,Bearing,Piston,Steering Knuckle,CV Joint,Beam,Fittings & Flanges,valve bodies & High-pressure valves,Others and by forging process such as Impression Die Forging, Cold Forging,Open Die Forging, Seamless Rolled Ring Forging.

Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

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ABSTRACT-

The demand of forged automotive components is likely to be generated primarily from automotive ancillary sector which supplies the finished products to automotive OEMs. Increasing demand for better driving experience in terms of smooth gear shifting & progress in acceleration and improvement in the installation of automotive parts, triggering the global forged automotive component market. It is expected to increase demand for light commercial vehicle and passenger car in domestic as well as export market enhances the global forged automotive component market during the forecast period.It is anticipated that fluctuating oil and gas price may hinder the global forged automotive component market during the forecast period. Furthermore, slowdown in automobile production and the availability of the alternative metal forming process is anticipated to hinder the market. On the other hand, increasing demand for electric vehicles with the chassis and ancillary parts made of polymer materials is expected to cause a decline in demand of the global forged automotive component market during the forecast period.

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