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Automotive Forging Market Size, Share and Forecast 2026-2036

The global automotive forging market is worth USD 56.9 bn in 2026 and is forecast to reach USD 84.3 bn by 2036, growing at a 4.0% CAGR. China is the largest country market and Hot forging is the largest by process segment.

USD 56.9 bnMarket size 2026
USD 84.3 bnForecast 2036
4.0%CAGR 2026-2036
ChinaLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

Market overview

The global automotive forging market is worth USD 56.9 bn in 2026 and is forecast to reach USD 84.3 bn by 2036, growing at a 4.0% CAGR. China is the largest country market and Hot forging is the largest by process segment.

ScopeForged components for vehicles: crankshafts, connecting rods, gears, axle and steering parts, wheel hubs and driveline components made by hot, warm and cold forging in steel, aluminium and other alloys.
IndustryAutomotive
Value 2025USD 55.0 bn
Value 2026USD 56.9 bn
Value 2036USD 84.3 bn
CAGR 2026-20364.0%
Volume 202612,297 thousand tonnes
Volume 203616,479 thousand tonnes
Average price 2026USD 4,629 per tonne
Report priceStarts from USD 1,999
PublishedNovember 2026

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Automotive Forging market size and forecast, 2026-2036

Exhibit 1The global automotive forging market is forecast to grow from USD 56.9 bn in 2026 to USD 84.3 bn by 2036, a rise of 48%Global market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 4.0%
Automotive Forging market value, 2025 to 2036Market value by year. 2025: USD 55.0 bn; 2026: USD 56.9 bn; 2027: USD 59.2 bn; 2028: USD 61.6 bn; 2029: USD 64.0 bn; 2030: USD 66.6 bn; 2031: USD 69.3 bn; 2032: USD 72.0 bn; 2033: USD 74.9 bn; 2034: USD 77.9 bn; 2035: USD 81.0 bn; 2036: USD 84.3 bn. Compound annual growth rate 2026 to 2036: 4.0%.202556.9 bn202669.3 bn203184.3 bn20364.0% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 56.9 bn
2027USD 59.2 bn
2028USD 61.6 bn
2029USD 64.0 bn
2030USD 66.6 bn
2031USD 69.3 bn
2032USD 72.0 bn
2033USD 74.9 bn
2034USD 77.9 bn
2035USD 81.0 bn
2036USD 84.3 bn

Automotive Forging market segmentation

By process

Exhibit 2Hot forging is the largest segment by process, with 52.0% of 2026 revenueEstimated share of 2026 global revenue, by process
Automotive Forging market share by process, 2026Share of 2026 revenue by process. Hot forging: 52.0%; Cold forging: 34.0%; Warm forging: 14.0%.Hot forging52.0%Cold forging34.0%Warm forging14.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Hot forging52.0%47.5%USD 29.6 bn3.1%
Warm forging14.0%14.8%USD 8.0 bn4.6%
Cold forging34.0%37.7%USD 19.4 bn5.1%

By component

Exhibit 3EV driveline parts adds the most revenue by component, growing from USD 4.6 bn in 2026 to USD 17.1 bn by 2036Estimated revenue in USD by component, 2026 and 2036 forecast
Automotive Forging market by component, 2026 and 2036Revenue by component in 2026 and 2036. Chassis and axle parts: USD 17.1 bn in 2026, USD 24.6 bn in 2036, change +44%; Transmission and gearing: USD 14.8 bn in 2026, USD 19.4 bn in 2036, change +31%; EV driveline parts: USD 4.6 bn in 2026, USD 17.1 bn in 2036, change +275%; Engine parts: USD 13.7 bn in 2026, USD 13.3 bn in 2036, change −2%; Steering and suspension: USD 6.8 bn in 2026, USD 9.8 bn in 2036, change +44%.20262036 forecastChangeChassis and axle parts+44%17.1 bn24.6 bnTransmission and gearing+31%14.8 bn19.4 bnEV driveline parts+275%4.6 bn17.1 bnEngine parts−2%13.7 bn13.3 bnSteering and suspension+44%6.8 bn9.8 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Engine parts24.0%15.8%USD 13.7 bn-0.2%
Transmission and gearing26.0%23.0%USD 14.8 bn2.7%
Chassis and axle parts30.0%29.2%USD 17.1 bn3.7%
Steering and suspension12.0%11.7%USD 6.8 bn3.7%
EV driveline parts8.0%20.3%USD 4.6 bn14.2%

By forged material

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Carbon and alloy steel78.0%72.0%USD 44.4 bn3.2%
Aluminium14.0%18.0%USD 8.0 bn6.7%
Titanium and special alloys8.0%10.0%USD 4.6 bn6.3%

By vehicle class

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Passenger cars64.0%61.0%USD 36.4 bn3.5%
Light commercial vehicles16.0%17.0%USD 9.1 bn4.6%
Heavy trucks and buses20.0%22.0%USD 11.4 bn5.0%

By powertrain

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Internal combustion70.0%44.0%USD 39.8 bn-0.7%
Hybrid18.0%18.0%USD 10.2 bn4.0%
Battery electric12.0%38.0%USD 6.8 bn16.7%

Top 25 countries for automotive forging by revenue

Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 82.5% of 2026 revenue and the 25 countries below together hold 96.5%.

Exhibit 4China is the largest country market at USD 18.8 bn in 2026, and the three largest countries hold 54.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Automotive Forging market, ten largest countries in 2026Ten largest countries by 2026 revenue. China: USD 18.8 bn, 33.0%; United States: USD 7.4 bn, 13.0%; India: USD 4.6 bn, 8.0%; Germany: USD 4.0 bn, 7.0%; Japan: USD 4.0 bn, 7.0%; Mexico: USD 2.3 bn, 4.0%; South Korea: USD 2.3 bn, 4.0%; Brazil: USD 1.4 bn, 2.5%; Italy: USD 1.1 bn, 2.0%; France: USD 1.1 bn, 2.0%.China18.8 bn 33.0%United States7.4 bn 13.0%India4.6 bn 8.0%Germany4.0 bn 7.0%Japan4.0 bn 7.0%Mexico2.3 bn 4.0%South Korea2.3 bn 4.0%Brazil1.4 bn 2.5%Italy1.1 bn 2.0%France1.1 bn 2.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1ChinaUSD 18.8 bn33.0%USD 28.9 bn4.4%
2United StatesUSD 7.4 bn13.0%USD 9.9 bn2.9%
3IndiaUSD 4.6 bn8.0%USD 9.4 bn7.5%
4GermanyUSD 4.0 bn7.0%USD 5.1 bn2.4%
5JapanUSD 4.0 bn7.0%USD 4.8 bn1.9%
6MexicoUSD 2.3 bn4.0%USD 3.7 bn5.0%
7South KoreaUSD 2.3 bn4.0%USD 3.0 bn2.9%
8BrazilUSD 1.4 bn2.5%USD 2.1 bn4.0%
9ItalyUSD 1.1 bn2.0%USD 1.4 bn2.3%
10FranceUSD 1.1 bn2.0%USD 1.3 bn1.7%
11United KingdomUSD 916 mn1.6%USD 1.3 bn3.7%
12TurkeyUSD 768 mn1.4%USD 1.2 bn4.9%
13ThailandUSD 751 mn1.3%USD 1.2 bn4.8%
14SpainUSD 712 mn1.2%USD 977 mn3.2%
15PolandUSD 615 mn1.1%USD 1.0 bn5.5%
16CanadaUSD 609 mn1.1%USD 826 mn3.1%
17IndonesiaUSD 598 mn1.1%USD 1.0 bn5.4%
18Czech RepublicUSD 438 mn0.8%USD 640 mn3.9%
19VietnamUSD 427 mn0.8%USD 699 mn5.1%
20AustraliaUSD 421 mn0.7%USD 556 mn2.8%
21RomaniaUSD 381 mn0.7%USD 624 mn5.0%
22ArgentinaUSD 359 mn0.6%USD 531 mn4.0%
23RussiaUSD 347 mn0.6%USD 480 mn3.3%
24MalaysiaUSD 336 mn0.6%USD 548 mn5.0%
25HungaryUSD 319 mn0.6%USD 539 mn5.4%
Rest of worldUSD 2.0 bn3.5%USD 2.4 bn2.1%
Exhibit 5China and India account for 55% of the USD 27.3 bn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Automotive Forging market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 56.9 bn. China: +USD 10.1 bn; India: +USD 4.8 bn; United States: +USD 2.5 bn; Mexico: +USD 1.4 bn; Germany: +USD 1.1 bn; 20 other countries: +USD 7.0 bn; Rest of world: +USD 463 mn. Market value 2036: USD 84.3 bn.Market value 202656.9 bnChina+10.1 bnIndia+4.8 bnUnited States+2.5 bnMexico+1.4 bnGermany+1.1 bn20 other countries+7.0 bnRest of world+463 mnMarket value 203684.3 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

Competitive landscape

Group 1: Global leaders

  • Bharat Forge
  • Hirschvogel
  • Aichi Steel
  • American Axle and Manufacturing
  • thyssenkrupp Forged Technologies
  • Wanxiang

Group 2: Regional and specialist players

  • Sona Comstar
  • Musashi Seimitsu
  • CIE Automotive
  • Ramkrishna Forgings
  • Jiangsu Pacific Precision Forging
  • Metalcastello
  • Kobe Steel

Group 3: Emerging and niche players

  • Sypris Technologies

Research methodology

Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the automotive forging market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.

The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 4.0% is calculated from the resulting values.

The market is divided by process, by component, by forged material, by vehicle class, by powertrain. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.

Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.

Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.

Read the full research methodology

Frequently asked questions

How big is the automotive forging market?

The global automotive forging market is estimated at USD 55.0 bn in 2025 and USD 56.9 bn in 2026.

How fast will the automotive forging market grow?

It is forecast to reach USD 84.3 bn by 2036, a compound annual growth rate of 4.0% from 2026, an increase of USD 27.3 bn.

Which country is the largest market for automotive forging?

China is the largest market by revenue at USD 18.8 bn in 2026, 33.0% of the global total. The three largest countries together hold 54.0%.

Which country is growing fastest?

Among the ten largest markets, India is growing fastest at 7.5% a year from 2026 to 2036.

Which automotive forging segment is largest?

In the by process split, Hot forging is the largest segment with 52.0% of 2026 revenue.

Who are the leading automotive forging companies?

Global leaders include Bharat Forge, Hirschvogel, Aichi Steel, American Axle and Manufacturing.

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