Increasing
passenger car sales, technological advancements, and growing automation and
number of pre-forming units to drive South America automotive forging market
through 2023
According to TechSci Research report, “South
America Automotive
Forging Market By
Vehicle Type, By Material Type, By Application, By Country, Competition
Forecast & Opportunities,
2013 – 2023”, the automotive
forging market across South America is projected to reach $ 1.3 billion by the
end of 2023, backed by growing construction and industrial sectors coupled with
rising vehicle production. Technological advancements, increasing demand for
advanced components and decreasing raw material costs are also anticipated to
fuel the region’s automotive forging market during the forecast period. Some of
the major players operating in the region are Bharat Forge Limited,
Thyssenkrupp AG and CIE Automotive, S.A.
Browse 26 market
data Figures and Tables spread through 55 Pages and an in-depth TOC on "South America Automotive Forging Market”
Brazil is the largest market for automotive
forging in South America, owing to increasing vehicle population, backed by
expanding base of consumers and rise in per capita income in the country. Moreover,
road infrastructure development and government initiatives towards promoting
the use of public transport in the country is driving both passenger car and
commercial vehicle segments, which in turn is fueling the Brazil automotive
forging market. Backed by huge sales of passenger cars in the region, this
vehicle segment is expected to continue dominating the South America automotive
forging market during forecast period.
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“Growing focus of the automakers towards
producing lighter vehicles without comprising on their integrity, along with increasing
preference of consumers towards high performance vehicles, which require
complex structures of forged components, is likely to aid growth in the South
America automotive forging market over the next five years.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
“South 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 South America automotive
forging market.
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