Dear Chandrasekar, 8620 is a forging steel with ferrite+pearlite structure. I am surprized to learn from you that this steel is chosen for the subject application at the first place. I would think Headfield steel would be a far better choice. As to boronizing... 8620 can be, but how effective this would be is a question that I do not have a tested answer for. My estimation is that it would not be. The steel will still wear out, though at a relatively slower rate. It does not seem feasible to dismantel repeatedly the whole thing for boronizing process.
To enhance the wear resistance of 8620 steel; the cryoprocessing is one option. The cryoprocessed SAE8620 steel showed enhancement in impact energy, hardness and 65% reduction in wear rate (on the Pin -On disc wear testing machine) over the conventional treatment. The details of cryoprocessing of SAE8620 steel is given in the attached article.