Global Forged Automotive Components Market to Reach US$58.1 Billion by 2030

The global market for Forged Automotive Components estimated at US$46.5 Billion in the year 2024, is expected to reach US$58.1 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2024-2030. Heavy Commercial Vehicles, one of the segments analyzed in the report, is expected to record a 4.6% CAGR and reach US$35.5 Billion by the end of the analysis period. Growth in the Light Commercial Vehicles segment is estimated at 2.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$12.7 Billion While China is Forecast to Grow at 7.2% CAGR

The Forged Automotive Components market in the U.S. is estimated at US$12.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.8 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.5% and 3.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

Global Forged Automotive Components Market – Key Trends & Drivers Summarized

Why Are Forged Components Essential to Automotive Performance and Safety?
Forged automotive components are indispensable in modern vehicle design due to their superior mechanical strength, fatigue resistance, and structural integrity. Forging involves shaping metal using localized compressive forces, resulting in a refined grain structure that delivers enhanced durability and load-bearing capacity compared to cast or machined parts. In the automotive sector, forging is widely used to produce critical structural and powertrain components such as crankshafts, connecting rods, transmission gears, axle beams, and steering knuckles—parts that must endure high stress and thermal variations over long operating lifecycles.

These components are particularly vital in commercial vehicles, performance cars, off-highway equipment, and heavy-duty trucks where reliability and mechanical toughness are paramount. As vehicle OEMs push for lighter yet stronger platforms to meet fuel efficiency, emission, and safety targets, forged parts are gaining even more relevance. Their ability to be precision-engineered from high-strength alloys enables tighter tolerances and increased performance under dynamic loading conditions, making them foundational to modern automotive engineering.

How Are Material and Process Innovations Enhancing Forging Capabilities?
Advances in materials and forging technologies are reshaping the competitiveness of forged automotive components. High-strength, low-alloy steels, aluminum alloys, and titanium-based materials are being used to manufacture lighter yet equally robust parts. These advanced alloys help automakers reduce vehicle weight while maintaining component integrity—a key goal in meeting global fuel economy and emission standards.

Technological developments in precision forging, closed-die forging, and warm/hot forging processes are enabling better dimensional accuracy, finer surface finish, and reduced post-processing requirements. Automation, robotic handling, and computer-aided die design (CADD) are improving production efficiency and repeatability. Near-net-shape forging, in particular, minimizes material waste and machining costs. Simultaneously, real-time monitoring, sensor feedback, and predictive maintenance in forging presses are increasing operational uptime and quality consistency, making high-volume production both cost-effective and scalable.

Which Vehicle Segments and Components Are Driving Demand for Forged Parts?
The demand for forged components is most pronounced in powertrain and chassis systems across both passenger and commercial vehicles. In internal combustion engine (ICE) vehicles, forged crankshafts, camshafts, and connecting rods are critical to engine stability and durability. In transmissions, gears and shafts forged to precision are vital to torque delivery and drivetrain performance. Suspension and steering systems also rely on forged control arms, knuckles, and tie rods for their high-strength-to-weight ratios and resistance to fatigue.

With the rise of electric vehicles (EVs), the demand profile is shifting toward forged parts used in thermal management systems, suspension assemblies, and differential units. Forged aluminum and lightweight steel parts are increasingly integrated into EV platforms to offset battery weight and improve range efficiency. Heavy-duty trucks, agricultural equipment, and off-road vehicles continue to be major consumers of forged components due to their demanding load and performance environments. Globally, the growth of vehicle production in emerging markets and the rise of premium vehicles with performance features are further boosting demand.

What Are the Key Drivers Supporting Growth in the Forged Automotive Components Market?
The growth in the forged automotive components market is driven by multiple factors tied to mechanical performance requirements, production scalability, and the evolving automotive landscape. A central driver is the increasing demand for high-strength, fatigue-resistant components that can perform reliably under variable load, temperature, and terrain conditions. Forged parts provide unmatched durability for such applications, ensuring long-term reliability in safety-critical systems.

The growing focus on lightweighting—particularly in the context of regulatory pressure to reduce CO2 emissions—is encouraging OEMs to adopt forged aluminum and hybrid-material components that combine strength with reduced mass. Additionally, the rise in vehicle electrification and expansion of hybrid architectures are creating new requirements for high-precision, thermally stable forged parts. The trend toward global automotive manufacturing platforms and modular vehicle architectures also favors forging due to its repeatability and compatibility with mass customization.

Increasing investments in forging automation, integration of Industry 4.0 technologies, and vertical integration strategies among OEMs and tier-1 suppliers are further propelling market expansion. These combined trends are ensuring that forged automotive components remain central to both legacy and next-generation vehicle development strategies worldwide.