Product Code: 17208
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:
Passenger Car Component Forging Market, By Component Type:
- Gears
- Piston
- Bearing
- Axle
- Connecting Rods
- Crankshaft
- Others
Passenger Car Component Forging Market, By Vehicle Type:
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:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
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
- 5.2. 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
- 6.2. 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
- 6.3.1.2. 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
- 6.3.2.2. 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
- 6.3.3.2. 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
- 7.2. 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
- 7.3.1.2. 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
- 7.3.2.2. 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
- 7.3.3.2. 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
- 7.3.4.2. 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
- 7.3.5.2. 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
- 8.2. 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
- 8.3.1.2. 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
- 8.3.2.2. 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
- 8.3.3.2. 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
- 8.3.4.2. 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
- 8.3.5.2. 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
- 9.2. 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
- 9.3.1.2. 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
- 9.3.2.2. 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
- 9.3.3.2. 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
- 10.2. 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
- 10.3.1.2. 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
- 10.3.2.2. 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
- 10.3.3.2. 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.
16. Strategic Recommendations
17. About Us & Disclaimer