The automotive forging market can be segmented based on various factors such as product type, material type, application, and vehicle type.
1. Sub-Segment: Crankshafts
Crankshafts are a crucial component of internal combustion engines, responsible for converting reciprocating motion into rotational motion. They are used in automobiles, heavy-duty trucks, and motorcycles, among others. Crankshafts undergo forging processes to enhance their strength, durability, and resistance to fatigue and impact. The increasing demand for lightweight vehicles with high fuel efficiency has led to the adoption of forged crankshafts. The superior mechanical properties of forged crankshafts, such as improved fatigue resistance and enhanced torsional strength, make them highly beneficial for various automotive applications.
The competitive landscape of the automotive forging market is characterized by the presence of several key players striving to gain a competitive edge. These market players are engaged in mergers and acquisitions, collaborations, partnerships, and product innovations to strengthen their market position and expand their customer base.
Prominent players in the automotive forging market include:
1. Thyssenkrupp AG
2. Bharat Forge Limited
3. Mahindra CIE Automotive Ltd.
4. Nippon Steel Corporation
5. Sumitomo Corporation
6. American Axle & Manufacturing Holdings, Inc.
7. Hirschvogel Holding GmbH
8. Montupet SA
9. CIE Automotive, S.A.
10. Georg Fischer Ltd.
These companies focus on technological advancements, product development, and expanding their production capacities to meet the growing demand for automotive forged components globally.