The Global Electric Vehicle Forgings Market was valued at USD 7.20 Billion in 2023 and is projected to reach USD 28.23 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period. This explosive growth is being driven by the global transition to electric mobility, rising demand for high-strength, lightweight components, and the accelerating need for specialized drivetrain, chassis, and powertrain parts that can withstand the unique performance demands of electric vehicles.

As the automotive industry pivots decisively toward electrification, the spotlight is on the advanced manufacturing specialists who are engineering the critical metal bones of this new era. In this blog, we profile the Top 10 Companies in the Electric Vehicle Forgings Industry—a mix of established forging giants, automotive specialists, and innovative metal formers shaping the structural core of the next generation of vehicles.

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🔟 10. Ramkrishna Forgings Limited

Headquarters: Kolkata, India
Key Offering: Forged Components for EV Chassis, Axles, and Powertrains

Ramkrishna Forgings is a prominent Indian manufacturer that has successfully diversified into the EV segment. The company supplies critical forged components, including differential gears, axle beams, and transmission parts, to both domestic and international automotive OEMs transitioning to electric platforms.

Electrification Focus Areas:

• Aggressive R&D into lightweight aluminum and steel forgings for EVs

• Strategic partnerships with global EV makers for component development

• Expanding capacity to meet rising demand from the Asian EV market

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9️⃣ 9. Farinia Group

Headquarters: Paris, France
Key Offering: High-Precision Forged Parts for Electric Drivetrains and Suspensions

Farinia Group is a European leader in complex forged and machined components. The group is deeply involved in the EV revolution, supplying essential parts like rotor shafts, gearbox components, and suspension arms that meet the stringent durability and precision requirements of electric vehicles.

Electrification Focus Areas:

• Specialization in safety-critical components for electric axles

• Investment in Industry 4.0 and simulation technologies for EV part optimization

• Strong footprint supplying European luxury and performance EV brands

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8️⃣ 8. American Axle & Manufacturing (AAM)

Headquarters: Detroit, Michigan, USA
Key Offering: Forged EV Driveline Systems, e-Beam Axles, and Differential Assemblies

AAM is a global leader in driveline and metal forming technologies, rapidly evolving its portfolio for electrification. The company’s forging expertise is central to producing robust, efficient e-Drive units, electric beam axles, and other structural components that form the backbone of electric trucks and SUVs.

Electrification Focus Areas:

• Development of integrated e-Drive systems incorporating forged gears and shafts

• Focus on electrified platforms for light trucks and off-highway vehicles

• Strategic electrification R&D and partnerships with major automakers

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Electric Vehicle Forgings Market – View in Detailed Research Report

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7️⃣ 7. MM Forgings

Headquarters: Chennai, India
Key Offering: Forged Crankshafts, Front Axle Beams, and EV-specific Components

MM Forgings has established itself as a key supplier to the global automotive industry and is actively capturing opportunities in the EV space. While known for traditional powertrain components, the company is now producing high-integrity forgings for electric commercial vehicle chassis, motor housings, and suspension linkages.

Electrification Focus Areas:

• Diversifying product mix to include structural parts for electric buses and trucks

• Adoption of advanced metallurgy for components that reduce unsprung weight in EVs

• Leveraging cost-competitive manufacturing for the growing Asian EV ecosystem

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6️⃣ 6. Thyssenkrupp AG (Forged Technologies Division)

Headquarters: Essen, Germany
Key Offering: Premium Forged Components for EV Powertrains and Chassis

Thyssenkrupp’s Forged Technologies business is a technology leader supplying the global automotive sector. The division produces high-performance forged parts, such as crankshafts, camshafts, and chassis components, and is pivoting its expertise toward electric drive components, including rotor shafts and transmission gears for e-axles.

Electrification Focus Areas:

• R&D in innovative forging processes for lightweight, high-strength EV parts

• Supplying major European OEMs with critical components for their flagship EV platforms

• Focus on sustainability through low-CO2 steel and energy-efficient production

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5️⃣ 5. WanXiang Group Corporation

Headquarters: Hangzhou, China
Key Offering: Comprehensive EV Component Systems Including Forgings

WanXiang is a Chinese automotive parts giant with a massive, vertically integrated supply chain. Its forging capabilities are a critical part of its strategy, producing essential components for electric motors, drivetrains, and steering systems, serving China’s vast and fast-growing EV market as both a supplier and through its own EV investments.

Electrification Focus Areas:

• Integrated manufacturing of EV powertrain assemblies incorporating forged parts

• Dominant supplier within China’s domestic EV ecosystem

• Strategic investment in next-generation electric vehicle technologies

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4️⃣ 4. FAW Group (Forging Business)

Headquarters: Changchun, Jilin, China
Key Offering: Forged Components for Commercial and Passenger EVs

As one of China’s “Big Four” state-owned automakers, FAW Group possesses significant in-house forging capabilities. Its forging operations are crucial for its own ambitious EV lineup, including the Hongqi brand, producing chassis components, axle parts, and other high-strength forged pieces necessary for vehicle integrity and safety.

Electrification Focus Areas:

• Direct integration of forging production for proprietary EV platforms

• Focus on heavy-duty forgings for electric trucks and buses

• Scaling production to support China’s national electrification targets

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Electric Vehicle Forgings Market – View in Detailed Research Report

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3️⃣ 3. Dongfeng Forging Co., Ltd.

Headquarters: Shiyan, Hubei, China
Key Offering: Forged Parts for Vehicle Chassis, Powertrains, and Commercial EVs

Dongfeng Forging, part of the Dongfeng Motor Corporation, is a powerhouse in the Chinese forging industry. The company is a primary supplier of critical forged components for the domestic automotive market and is rapidly adapting its product lines to serve the structural and drivetrain needs of new electric vehicle models.

Electrification Focus Areas:

• Development of lightweight forged aluminum components for EV battery enclosures and frames

• Key supplier to Dongfeng’s own extensive electric commercial and passenger vehicle programs

• Expansion of capabilities in precision forging for EV gearbox and reducer components

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2️⃣ 2. Aichi Steel Corporation

Headquarters: Tokai, Aichi, Japan
Key Offering: Specialized Steel and Forged Parts for EV Motors and Powertrains

Aichi Steel, a Toyota Group company, is a technological leader in specialty steels and advanced forgings. The company is pivotal in the EV supply chain, producing ultra-high-grade non-oriented electrical steel and forged components essential for high-efficiency traction motors, a core differentiator in electric vehicle performance.

Electrification Focus Areas:

• Leading producer of electrical steel forgings for EV motor cores (rotors/stators)

• Deep R&D in material science to improve motor efficiency and reduce rare-earth dependency

• Strategic position within the Toyota bZ electrified platform supply chain

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1️⃣ 1. Bharat Forge Limited

Headquarters: Pune, Maharashtra, India
Key Offering: Aluminum and Steel Forgings for EV Chassis, Structural Parts, and Drivetrains

Bharat Forge stands as a global forging champion and is arguably the industry’s most proactive player in the electric transition. The company has diversified beyond traditional automotive into high-margin, high-growth areas, becoming a leading global supplier of lightweight aluminum chassis and structural components for electric vehicles, from passenger cars to heavy-duty trucks.

Electrification Focus Areas:

• Global leadership in lightweight aluminum chassis and sub-frame forgings for EVs

• Dedicated verticals for e-Mobility, supplying major OEMs across North America, Europe, and Asia

• Comprehensive “metal-to-mobility” strategy with investments in EV startups and component integration

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Electric Vehicle Forgings Market – View in Detailed Research Report

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🚀 Outlook: The Future of EV Forgings Is Lighter, Smarter, and More Integrated

The electric vehicle forgings market is undergoing a fundamental transformation. While traditional engine components see reduced demand, the industry is innovating rapidly to produce lightweight, high-strength structural and drivetrain parts that are essential for EV safety, range, and performance.

📈 Key Trends Shaping the Market:

• Material Shift: Accelerating transition from steel to advanced high-strength steel (AHSS) and aluminum forgings to reduce vehicle weight.

• Component Integration: Moving from single parts to complex, multi-functional forged assemblies to simplify EV architecture.

• Supply Chain Localization: Forging giants are establishing production closer to major EV manufacturing hubs in North America and Europe to ensure supply security.

• Digital Forging: Adoption of AI, simulation, and IoT for predictive quality control and optimization of forging processes for new EV-specific geometries.

Get Full Report Here:
Electric Vehicle Forgings Market – View in Detailed Research Report

The companies listed above are not only supplying components for electric vehicles—they are actively engineering the structural integrity and efficiency that will define the electric mobility era.