Aluminum Component Forging Market - Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Forging Type, By Component Type, By Vehicle Type, By Region and By Competition 2021-2031F

Description

The Global Aluminum Component Forging Market will grow from USD 28.22 Billion in 2025 to USD 39.49 Billion by 2031 at a 5.76% CAGR. Aluminum component forging is a specialized manufacturing process wherein aluminum alloys are shaped under extreme compressive forces to produce high-strength, lightweight parts with superior structural integrity compared to cast alternatives.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 28.22 Billion
Market Size 2031	USD 39.49 Billion
CAGR 2026-2031	5.76%
Fastest Growing Segment	Steering Parts
Largest Market	North America

Key Market Drivers

The rapid proliferation of electric vehicles (EVs) and the escalating demand for vehicle lightweighting are the primary economic forces accelerating the adoption of aluminum forgings. Automotive original equipment manufacturers are increasingly replacing heavy steel components with forged aluminum to offset the substantial mass of battery packs and maximize driving range without compromising safety. This transition is technically critical for chassis and suspension applications, where the superior strength-to-weight ratio of forged aluminum ensures structural durability under dynamic loads.

Key Market Challenges

The volatility of raw material prices and energy costs stands as a substantial barrier impeding the growth of the Global Aluminum Component Forging Market. This financial unpredictability directly affects the operational stability of forging manufacturers, who rely heavily on energy-intensive processes to shape high-strength alloys. When input costs fluctuate sharply, manufacturers face eroded profit margins and difficulty in securing long-term pricing agreements with automotive and aerospace clients. This instability often forces producers to absorb cost increases or pass them downstream, which can dampen demand for forged components in cost-sensitive applications.

Key Market Trends

The Implementation of Sustainable and Circular Economy Practices is reshaping the forging landscape as manufacturers prioritize closed-loop recycling systems to lower carbon footprints and secure raw material stability. Forging companies are increasingly integrating secondary aluminum feedstock into their production streams to meet stringent OEM decarbonization mandates while mitigating the risks of primary metal price volatility. This shift towards circularity involves significant infrastructure upgrades to process scrap without compromising the structural integrity of the final forged components.

Key Market Players

Accurate Steel Forgings (INDIA) Limited
AICHI STEEL CORPORATION
Alcoa Corporation
Aluminum Precision Products
Anderson Shumaker Company
Arconic Inc
Bharat Forge Limited
Ellwood Group Inc.
Kalyani Technoforge
Kobe Steel, Ltd.

Report Scope:

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

Aluminum Component Forging Market, By Forging Type:

Open Die Forging
Close Die Forging
Ring Rolled Forging

Aluminum Component Forging Market, By Component Type:

Transmission Parts
Steering Parts
Others

Aluminum Component Forging Market, By Vehicle Type:

Passenger Cars
Commercial Vehicles

Aluminum Component Forging Market, By Region:

North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Aluminum Component Forging Market.

Available Customizations:

Global Aluminum Component Forging Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Aluminum Component Forging Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Forging Type (Open Die Forging, Close Die Forging, Ring Rolled Forging)
- 5.2.2. By Component Type (Transmission Parts, Steering Parts, Others)
- 5.2.3. By Vehicle Type (Passenger Cars, Commercial Vehicles)
- 5.2.4. By Region
- 5.2.5. By Company (2025)
5.3. Market Map

6. North America Aluminum Component Forging Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Forging Type
- 6.2.2. By Component Type
- 6.2.3. By Vehicle Type
- 6.2.4. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Aluminum Component Forging Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Forging Type
    - 6.3.1.2.2. By Component Type
    - 6.3.1.2.3. By Vehicle Type
- 6.3.2. Canada Aluminum Component Forging Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Forging Type
    - 6.3.2.2.2. By Component Type
    - 6.3.2.2.3. By Vehicle Type
- 6.3.3. Mexico Aluminum Component Forging Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Forging Type
    - 6.3.3.2.2. By Component Type
    - 6.3.3.2.3. By Vehicle Type

7. Europe Aluminum Component Forging Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Forging Type
- 7.2.2. By Component Type
- 7.2.3. By Vehicle Type
- 7.2.4. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Aluminum Component Forging Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Forging Type
    - 7.3.1.2.2. By Component Type
    - 7.3.1.2.3. By Vehicle Type
- 7.3.2. France Aluminum Component Forging Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Forging Type
    - 7.3.2.2.2. By Component Type
    - 7.3.2.2.3. By Vehicle Type
- 7.3.3. United Kingdom Aluminum Component Forging Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Forging Type
    - 7.3.3.2.2. By Component Type
    - 7.3.3.2.3. By Vehicle Type
- 7.3.4. Italy Aluminum Component Forging Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Forging Type
    - 7.3.4.2.2. By Component Type
    - 7.3.4.2.3. By Vehicle Type
- 7.3.5. Spain Aluminum Component Forging Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Forging Type
    - 7.3.5.2.2. By Component Type
    - 7.3.5.2.3. By Vehicle Type

8. Asia Pacific Aluminum Component Forging Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Forging Type
- 8.2.2. By Component Type
- 8.2.3. By Vehicle Type
- 8.2.4. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Aluminum Component Forging Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Forging Type
    - 8.3.1.2.2. By Component Type
    - 8.3.1.2.3. By Vehicle Type
- 8.3.2. India Aluminum Component Forging Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Forging Type
    - 8.3.2.2.2. By Component Type
    - 8.3.2.2.3. By Vehicle Type
- 8.3.3. Japan Aluminum Component Forging Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Forging Type
    - 8.3.3.2.2. By Component Type
    - 8.3.3.2.3. By Vehicle Type
- 8.3.4. South Korea Aluminum Component Forging Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Forging Type
    - 8.3.4.2.2. By Component Type
    - 8.3.4.2.3. By Vehicle Type
- 8.3.5. Australia Aluminum Component Forging Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Forging Type
    - 8.3.5.2.2. By Component Type
    - 8.3.5.2.3. By Vehicle Type

9. Middle East & Africa Aluminum Component Forging Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Forging Type
- 9.2.2. By Component Type
- 9.2.3. By Vehicle Type
- 9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Aluminum Component Forging Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Forging Type
    - 9.3.1.2.2. By Component Type
    - 9.3.1.2.3. By Vehicle Type
- 9.3.2. UAE Aluminum Component Forging Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Forging Type
    - 9.3.2.2.2. By Component Type
    - 9.3.2.2.3. By Vehicle Type
- 9.3.3. South Africa Aluminum Component Forging Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Forging Type
    - 9.3.3.2.2. By Component Type
    - 9.3.3.2.3. By Vehicle Type

10. South America Aluminum Component Forging Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Forging Type
- 10.2.2. By Component Type
- 10.2.3. By Vehicle Type
- 10.2.4. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Aluminum Component Forging Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Forging Type
    - 10.3.1.2.2. By Component Type
    - 10.3.1.2.3. By Vehicle Type
- 10.3.2. Colombia Aluminum Component Forging Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Forging Type
    - 10.3.2.2.2. By Component Type
    - 10.3.2.2.3. By Vehicle Type
- 10.3.3. Argentina Aluminum Component Forging Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Forging Type
    - 10.3.3.2.2. By Component Type
    - 10.3.3.2.3. By Vehicle Type

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Aluminum Component Forging Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Accurate Steel Forgings (INDIA) Limited
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. AICHI STEEL CORPORATION
15.3. Alcoa Corporation
15.4. Aluminum Precision Products
15.5. Anderson Shumaker Company
15.6. Arconic Inc
15.7. Bharat Forge Limited
15.8. Ellwood Group Inc.
15.9. Kalyani Technoforge
15.10. Kobe Steel, Ltd.