According to TechSci Research report, “North America Automotive Forging Market By Vehicle Type, By Material Type, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023”, automotive forging market across the region is forecast to reach $ 4.9 billion by the end of 2023. Technological advancements, growing vehicle fleet and sales, and rising demand for complex structures from auto manufacturers to boost the vehicle performance are expected to have a positive impact on the region’s automotive forging market during forecast period. Additionally, growth in the market is anticipated to be driven by increasing number of pre-forming units and declining raw material prices.
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Capturing more than 50% value share, light commercial vehicle segment dominated the region’s automotive forging market in 2017. Owing to growing sales of light commercial vehicles and rising investments in construction and industrial sectors in North America, demand for automotive forging from this segment of vehicles is anticipated to grow at a robust pace. Moreover, medium & heavy commercial vehicle segment is expected to exhibit the fastest growth rate in the coming years.
“Growing demand for automotive forging components and rising investments in forging industry by major players is expected to drive the North American automotive forging market in the coming years. This in addition to rising sales of commercial vehicles and increasing investments by major players in research & development activities to launch technology advanced products would further aid market growth during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“North America Automotive Forging Market By Vehicle Type, By Material Type, By Application, By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed potential of automotive forging market across the region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the North America automotive forging market.
Browse 29 market data Figures and Tables spread through 55 Pages and an in-depth TOC on “North America Automotive Forging Market”