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

Description

The Global Passenger Car Component Forging Market will grow from USD 26.22 Billion in 2025 to USD 39.11 Billion by 2031 at a 6.89% CAGR. Passenger car component forging is defined as the manufacturing process of shaping critical load-bearing parts, such as crankshafts, connecting rods, and transmission gears, using compressive forces to ensure superior structural integrity and fatigue resistance.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 26.22 Billion
Market Size 2031	USD 39.11 Billion
CAGR 2026-2031	6.89%
Fastest Growing Segment	Aluminum
Largest Market	Asia Pacific

Key Market Drivers

The resurgence of global automotive manufacturing acts as a primary catalyst for the forging sector, necessitating consistent supplies of chassis and powertrain components. As assembly lines accelerate output to meet pent-up consumer demand, the requirement for forged steel and aluminum parts increases proportionally to ensure vehicle structural integrity.

Key Market Challenges

The accelerating transition toward electric vehicles acts as a significant structural constraint on the growth of the global passenger car component forging market. Internal combustion engines heavily rely on forged parts, such as crankshafts, connecting rods, and pistons, to ensure structural integrity under high mechanical stress. In contrast, electric powertrains employ simplified architectures with fewer moving parts, effectively eliminating the need for these dense, weight-bearing engine components. This technological shift directly erodes the addressable market for manufacturers that depend on traditional powertrain orders, as the forging intensity per vehicle drops substantially when moving from gasoline to battery-powered platforms.

Key Market Trends

The development of specialized forged components for electric vehicle powertrains is emerging as a critical adaptation strategy for manufacturers facing the decline of internal combustion engine volumes. Forging companies are increasingly pivoting their product portfolios to manufacture high-precision parts essential for electric mobility, such as rotor shafts, differential gears, and battery tray components, which require the superior strength and reliability that only forging can provide. This strategic realignment allows suppliers to offset the reduced demand for traditional engine blocks and pistons by capturing value in the growing electrification segment.

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 Passenger Car Component Forging Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Passenger Car Component Forging Market, By Material Type:

Aluminum
Steel
Others

Passenger Car Component Forging Market, By Component Type:

Gears
Piston
Bearing
Axle
Connecting Rods
Crankshaft
Others

Passenger Car Component Forging Market, By Vehicle Type:

SUV
Sedan
Hatchback
MUV

Passenger Car 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 Passenger Car Component Forging Market.

Available Customizations:

Global Passenger Car 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 Passenger Car Component Forging Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Material Type (Aluminum, Steel, Others)
- 5.2.2. By Component Type (Gears, Piston, Bearing, Axle, Connecting Rods, Crankshaft, Others)
- 5.2.3. By Vehicle Type (SUV, Sedan, Hatchback, MUV)
- 5.2.4. By Region
- 5.2.5. By Company (2025)
5.3. Market Map

6. North America Passenger Car Component Forging Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Material 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 Passenger Car 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 Material Type
    - 6.3.1.2.2. By Component Type
    - 6.3.1.2.3. By Vehicle Type
- 6.3.2. Canada Passenger Car 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 Material Type
    - 6.3.2.2.2. By Component Type
    - 6.3.2.2.3. By Vehicle Type
- 6.3.3. Mexico Passenger Car 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 Material Type
    - 6.3.3.2.2. By Component Type
    - 6.3.3.2.3. By Vehicle Type

7. Europe Passenger Car Component Forging Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Material 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 Passenger Car 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 Material Type
    - 7.3.1.2.2. By Component Type
    - 7.3.1.2.3. By Vehicle Type
- 7.3.2. France Passenger Car 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 Material Type
    - 7.3.2.2.2. By Component Type
    - 7.3.2.2.3. By Vehicle Type
- 7.3.3. United Kingdom Passenger Car 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 Material Type
    - 7.3.3.2.2. By Component Type
    - 7.3.3.2.3. By Vehicle Type
- 7.3.4. Italy Passenger Car 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 Material Type
    - 7.3.4.2.2. By Component Type
    - 7.3.4.2.3. By Vehicle Type
- 7.3.5. Spain Passenger Car 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 Material Type
    - 7.3.5.2.2. By Component Type
    - 7.3.5.2.3. By Vehicle Type

8. Asia Pacific Passenger Car Component Forging Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Material 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 Passenger Car 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 Material Type
    - 8.3.1.2.2. By Component Type
    - 8.3.1.2.3. By Vehicle Type
- 8.3.2. India Passenger Car 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 Material Type
    - 8.3.2.2.2. By Component Type
    - 8.3.2.2.3. By Vehicle Type
- 8.3.3. Japan Passenger Car 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 Material Type
    - 8.3.3.2.2. By Component Type
    - 8.3.3.2.3. By Vehicle Type
- 8.3.4. South Korea Passenger Car 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 Material Type
    - 8.3.4.2.2. By Component Type
    - 8.3.4.2.3. By Vehicle Type
- 8.3.5. Australia Passenger Car 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 Material Type
    - 8.3.5.2.2. By Component Type
    - 8.3.5.2.3. By Vehicle Type

9. Middle East & Africa Passenger Car Component Forging Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Material 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 Passenger Car 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 Material Type
    - 9.3.1.2.2. By Component Type
    - 9.3.1.2.3. By Vehicle Type
- 9.3.2. UAE Passenger Car 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 Material Type
    - 9.3.2.2.2. By Component Type
    - 9.3.2.2.3. By Vehicle Type
- 9.3.3. South Africa Passenger Car 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 Material Type
    - 9.3.3.2.2. By Component Type
    - 9.3.3.2.3. By Vehicle Type

10. South America Passenger Car Component Forging Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Material 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 Passenger Car 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 Material Type
    - 10.3.1.2.2. By Component Type
    - 10.3.1.2.3. By Vehicle Type
- 10.3.2. Colombia Passenger Car 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 Material Type
    - 10.3.2.2.2. By Component Type
    - 10.3.2.2.3. By Vehicle Type
- 10.3.3. Argentina Passenger Car 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 Material 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 Passenger Car 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.