Product Code: 17393
The Global Aluminum Component Forging Market will grow from USD 28.22 Billion in 2025 to USD 39.49 Billion by 2031 at a 5.76% CAGR. Aluminum component forging is a specialized manufacturing process wherein aluminum alloys are shaped under extreme compressive forces to produce high-strength, lightweight parts with superior structural integrity compared to cast alternatives.
| Market Overview |
| Forecast Period | 2027-2031 |
| Market Size 2025 | USD 28.22 Billion |
| Market Size 2031 | USD 39.49 Billion |
| CAGR 2026-2031 | 5.76% |
| Fastest Growing Segment | Steering Parts |
| Largest Market | North America |
Key Market Drivers
The rapid proliferation of electric vehicles (EVs) and the escalating demand for vehicle lightweighting are the primary economic forces accelerating the adoption of aluminum forgings. Automotive original equipment manufacturers are increasingly replacing heavy steel components with forged aluminum to offset the substantial mass of battery packs and maximize driving range without compromising safety. This transition is technically critical for chassis and suspension applications, where the superior strength-to-weight ratio of forged aluminum ensures structural durability under dynamic loads.
Key Market Challenges
The volatility of raw material prices and energy costs stands as a substantial barrier impeding the growth of the Global Aluminum Component Forging Market. This financial unpredictability directly affects the operational stability of forging manufacturers, who rely heavily on energy-intensive processes to shape high-strength alloys. When input costs fluctuate sharply, manufacturers face eroded profit margins and difficulty in securing long-term pricing agreements with automotive and aerospace clients. This instability often forces producers to absorb cost increases or pass them downstream, which can dampen demand for forged components in cost-sensitive applications.
Key Market Trends
The Implementation of Sustainable and Circular Economy Practices is reshaping the forging landscape as manufacturers prioritize closed-loop recycling systems to lower carbon footprints and secure raw material stability. Forging companies are increasingly integrating secondary aluminum feedstock into their production streams to meet stringent OEM decarbonization mandates while mitigating the risks of primary metal price volatility. This shift towards circularity involves significant infrastructure upgrades to process scrap without compromising the structural integrity of the final forged components.
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 Aluminum Component Forging Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Aluminum Component Forging Market, By Forging Type:
- Open Die Forging
- Close Die Forging
- Ring Rolled Forging
Aluminum Component Forging Market, By Component Type:
- Transmission Parts
- Steering Parts
- Others
Aluminum Component Forging Market, By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Aluminum 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 Aluminum Component Forging Market.
Available Customizations:
Global Aluminum 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 Aluminum Component Forging Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Forging Type (Open Die Forging, Close Die Forging, Ring Rolled Forging)
- 5.2.2. By Component Type (Transmission Parts, Steering Parts, Others)
- 5.2.3. By Vehicle Type (Passenger Cars, Commercial Vehicles)
- 5.2.4. By Region
- 5.2.5. By Company (2025)
- 5.3. Market Map
6. North America Aluminum Component Forging Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Forging 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 Aluminum Component Forging Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Forging Type
- 6.3.1.2.2. By Component Type
- 6.3.1.2.3. By Vehicle Type
- 6.3.2. Canada Aluminum Component Forging Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Forging Type
- 6.3.2.2.2. By Component Type
- 6.3.2.2.3. By Vehicle Type
- 6.3.3. Mexico Aluminum Component Forging Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Forging Type
- 6.3.3.2.2. By Component Type
- 6.3.3.2.3. By Vehicle Type
7. Europe Aluminum Component Forging Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Forging 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 Aluminum Component Forging Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Forging Type
- 7.3.1.2.2. By Component Type
- 7.3.1.2.3. By Vehicle Type
- 7.3.2. France Aluminum Component Forging Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Forging Type
- 7.3.2.2.2. By Component Type
- 7.3.2.2.3. By Vehicle Type
- 7.3.3. United Kingdom Aluminum Component Forging Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Forging Type
- 7.3.3.2.2. By Component Type
- 7.3.3.2.3. By Vehicle Type
- 7.3.4. Italy Aluminum Component Forging Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Forging Type
- 7.3.4.2.2. By Component Type
- 7.3.4.2.3. By Vehicle Type
- 7.3.5. Spain Aluminum Component Forging Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Forging Type
- 7.3.5.2.2. By Component Type
- 7.3.5.2.3. By Vehicle Type
8. Asia Pacific Aluminum Component Forging Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Forging 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 Aluminum Component Forging Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Forging Type
- 8.3.1.2.2. By Component Type
- 8.3.1.2.3. By Vehicle Type
- 8.3.2. India Aluminum Component Forging Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Forging Type
- 8.3.2.2.2. By Component Type
- 8.3.2.2.3. By Vehicle Type
- 8.3.3. Japan Aluminum Component Forging Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Forging Type
- 8.3.3.2.2. By Component Type
- 8.3.3.2.3. By Vehicle Type
- 8.3.4. South Korea Aluminum Component Forging Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Forging Type
- 8.3.4.2.2. By Component Type
- 8.3.4.2.3. By Vehicle Type
- 8.3.5. Australia Aluminum Component Forging Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Forging Type
- 8.3.5.2.2. By Component Type
- 8.3.5.2.3. By Vehicle Type
9. Middle East & Africa Aluminum Component Forging Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Forging 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 Aluminum Component Forging Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Forging Type
- 9.3.1.2.2. By Component Type
- 9.3.1.2.3. By Vehicle Type
- 9.3.2. UAE Aluminum Component Forging Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Forging Type
- 9.3.2.2.2. By Component Type
- 9.3.2.2.3. By Vehicle Type
- 9.3.3. South Africa Aluminum Component Forging Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Forging Type
- 9.3.3.2.2. By Component Type
- 9.3.3.2.3. By Vehicle Type
10. South America Aluminum Component Forging Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Forging 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 Aluminum Component Forging Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Forging Type
- 10.3.1.2.2. By Component Type
- 10.3.1.2.3. By Vehicle Type
- 10.3.2. Colombia Aluminum Component Forging Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Forging Type
- 10.3.2.2.2. By Component Type
- 10.3.2.2.3. By Vehicle Type
- 10.3.3. Argentina Aluminum Component Forging Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Forging 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 Aluminum 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