A report on the Global Forged Automotive Component Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the Forged Automotive Component market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
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Forged Automotive Component Market is a manufacturing process that shapes metal by applying compressive forces using associated equipment. The automotive industry relies heavily on having forged steel auto parts to increase vehicle production. Forged steel is used to make formed automotive components such as crankshafts, axles, joints and bearings, and is necessary to handle torque.
Additionally, closed-die and compression-die forging of steel, titanium, aluminum, and other alloys can produce limited 3-D shapes. Additionally, die forgings are typically produced on hydraulic presses, hammers, and mechanical presses with capacities up to 50,000 tons, 20,000 tons, and 50,000 pounds. In addition, finishing molds are used to manufacture symmetrical and asymmetrical automotive components through bending operations.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Digital Raids Corporation, Fujitsu, Arris Systems, Imagine Communications, Telestream. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
North America is expected to lead the global forged auto parts market owing to strong demand from the automotive component industry in specific countries such as the U.S. and Canada. In the global auto parts market, Europe is followed by North America. Germany accounts for the largest share of forged auto parts produced in Europe, followed by the United Kingdom, owing to rising vehicle sales and rising R&D investments by auto parts manufacturers.
The Asia Pacific region also derives considerable revenue from the global formed auto parts market, with increasing manufacturing activities in emerging countries such as China, India, and Japan. Moreover, the demand for forged automotive components in Middle East & Africa will grow significantly owing to increasing industrialization.
Forged Automotive Component Market Segmentation:
By Type:
- Gears
- Crankshaft
- Axle
- Bearing
- Piston
- Steering Knuckle
- CV Joint
- Beam
- Fittings & Flanges
- Other
By Applications:
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Passenger Vehicles
- Other
Frequently Asked Questions (FAQ):
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- Which region dominated the worldwide market for Forged Automotive Component in 2022?
Related Sources:
- https://www.digitaljournal.com/pr/global-alternative-medicines-and-therapies-market-is-projected-to-grow-at-a-cagr-of-19-9-during-forecast-period
- https://www.openpr.com/news/2851350/cloud-integration-software-market-business-overview-2022
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