Electric Vehicle Forgings Market Key Highlights:
- Market Size (2024): USD 8,382 Million
- Projected Market Size (2034): USD 38,603 Million
- CAGR (2023-2034): 16.5%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies adopted by various manufacturers.
Electric Vehicle Forgings Market Definition
Forging is the manufacturing process in which the metal is heated at a high temperature and given a desired shape with applied force in it. Electric vehicle forging is the process in which the forging of metal specially designed for the electric vehicles. The rising evaluation in electric vehicles with the new designs and specifications, and the use of advanced material is driving the demand for the forging techniques which drives the growth of the electric vehicle market.
The increasing population, disposable income in the population, rising awareness regarding the environmental pollution caused by gasoline vehicles, government intervention in the electric vehicle expansion with the implementing stringent government regulations on limiting the carbon emission by the vehicle and subsidies and tax concession on the sale of electric vehicle is driving the growth of the market. The complex designing of electric vehicle component such as battery housing, motor rotos, and transmission component that leads to the increased demand for the market. Integration of robotics, automation, and digitization in the manufacturing technologies emerging as the growth opportunity in the market expansion.
Electric Vehicle Forgings Market Segmentation:
By Type
- Closed Die Forgings
- Open Die Forgings
- Rolled Rings Forgings
By Application
- Electric Motor
- Transmission System
- Chassis Components
- Suspension Parts
- Others
Electric Vehicle Forgings Market Companies:
- Aichi Steel
- Thyssenkrupp
- AAM
- Bharat Forge
- WanXiang
- MM Forgings
- FAW
- Farinia Group
- Longcheng Forging
- Ramkrishna Forgings
- Dongfeng Forging
- Jiangsu Pacific Precision Forging
- Ashok Leyland
- CITIC Heavy Industries
- Anchor
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