Forging Presses Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, India, US, Germany, UK - Size and Forecast 2024-2028

Forging Presses Market Size 2024-2028

The forging presses market size is forecast to increase by USD 313.8 million, at a CAGR of 3.2% between 2023 and 2028.

• The market is driven by the benefits offered by forging processes over casting, including improved product strength, dimensional accuracy, and reduced material waste. A notable trend shaping the market is the adoption of hybrid forging techniques, which combine the advantages of both forging and casting processes. These methods enable manufacturers to produce complex shapes and components more efficiently and cost-effectively. However, the market faces challenges due to the scarcity of skilled labor in the manufacturing sector. As forging processes require a high level of expertise and precision, the lack of skilled workforce can hinder market growth.
• Additionally, the increasing competition from alternative manufacturing methods, such as 3D printing and CNC machining, puts pressure on forging presses manufacturers to innovate and offer more value to their customers. To capitalize on opportunities and navigate challenges effectively, companies must focus on developing advanced technologies, investing in workforce training, and expanding their product offerings to cater to diverse industries.

What will be the Size of the Forging Presses Market during the forecast period?

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• The forging press market continues to evolve, driven by advancements in technology and increasing demand across various sectors. Forging press tonnage plays a crucial role in shaping metals into desired forms, with ram speed control and die temperature control optimizing the process. Forging press upgrades, such as isothermal forging and precision forging, enhance product quality and efficiency. Closed die forging and mechanical forging presses dominate the market, while cold forging process and hammer forging comparison offer unique advantages. Die forging process optimization and forging press automation streamline production, reducing energy consumption forging and improving press force monitoring.
• Stroke length adjustment and forging press lubrication are essential for maintaining press performance, while die life optimization ensures cost-effective die design. Forging press retrofitting and production rate forging increase capacity, enabling businesses to meet growing demand. High-speed forging and hydraulic forging presses cater to industries requiring quick turnaround times. Material flow simulation and forging defect detection improve product consistency, ensuring customer satisfaction. The forging industry anticipates a 5% annual growth rate, reflecting its continuous dynamism. For instance, a leading automotive manufacturer increased sales by 15% by implementing a forging press upgrades package, including die temperature control and press force monitoring.

How is this Forging Presses Industry segmented?

The forging presses industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Automotive
  • Aerospace
  • Others
• Type
  • Hydraulic
  • Mechanical
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • India
  • Rest of World (ROW)

By Application Insights

The automotive segment is estimated to witness significant growth during the forecast period.

The automotive industry's demand for high-quality forged components, such as wing roots, spars and hinges, bulkheads, engine mounts, and various other parts, is driving a significant increase in the use of forging presses. These presses are essential for producing these components through the forging process, which involves applying extreme pressure to metal to reshape it. Forging presses come in various types, including mechanical, hydraulic, and high-speed, with different tonnages, ram speed controls, die temperature controls, and automation levels. For instance, isothermal forging, a type of forging process, requires precise temperature control to prevent thermal gradients and ensure uniform metal flow.

Forging press upgrades, such as press force monitoring, stroke length adjustment, and lubrication systems, improve productivity and reduce downtime. Die design optimization and life extension are also crucial for reducing costs and enhancing efficiency. Energy consumption is a critical factor in forging press selection, with some processes, like hammer forging, consuming more energy than others. Upset forging and open die forging are alternative processes used for producing large, complex parts. The forging industry is projected to grow at a steady pace, with industry experts estimating a 5% increase in production rate forging by 2025. This growth is attributed to the increasing demand for lightweight and durable components in various industries, including automotive, aerospace, and construction.

Forging press safety is a top priority, with ongoing research focusing on developing advanced safety features and improving operator training programs. A notable example of the forging industry's growth can be seen in the automotive sector, where forging presses are used to produce over 50% of the components in modern vehicles. This trend is expected to continue, as automakers seek to reduce weight, improve fuel efficiency, and enhance vehicle performance. Forging presses' ability to produce strong, lightweight parts efficiently makes them an indispensable tool for the automotive industry and other sectors.

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The Automotive segment was valued at USD 1010.90 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 64% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The forging press market is experiencing significant growth due to the increasing demand for metals in various industries, particularly in the automotive sector. Forging presses are essential for manufacturing components with precise shapes and sizes, making them indispensable in automobile manufacturing. In Asia Pacific (APAC), the rise in urban population and disposable income has fueled the demand for vehicles, leading several automobile manufacturers, such as Isuzu Motors Ltd., Mahindra and Mahindra Ltd., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Tata Motors Ltd., and Suzuki Motor Corp., to expand their production capacity. This expansion necessitates the acquisition of advanced forging equipment to meet the increasing demand for high-quality components.

Forging presses come in various types, including mechanical and hydraulic presses, and are available in different tonnages. Ram speed control and die temperature control are crucial features that ensure efficient forging processes. Forging press upgrades, such as isothermal forging and die forging, enable the production of complex shapes and improve product quality. Closed die forging and precision forging are popular processes used in the automotive industry for manufacturing critical components. Forging press maintenance, forging die design, and forging press automation are essential aspects of the forging process that ensure optimal performance and productivity. Press force monitoring, stroke length adjustment, and forging press lubrication are critical maintenance practices that prolong die life and reduce energy consumption.

Forging press retrofitting and production rate forging are other trends that help manufacturers increase their output and reduce costs. Energy consumption forging and upset forging are techniques that help manufacturers minimize material waste and improve efficiency. Open die forging and hot forging process are other traditional methods that continue to be used in various industries. The forging press market is expected to grow at a steady pace, with increasing demand from industries such as automotive, aerospace, and construction.

In conclusion, the growing demand for metals in various industries, particularly in the automotive sector, is driving the growth of the forging press market. Advanced forging processes, such as isothermal forging and precision forging, are gaining popularity due to their ability to produce high-quality components efficiently. Forging press upgrades, maintenance, and automation are essential aspects of the forging process that help manufacturers improve productivity and reduce costs. The market is expected to grow steadily, with increasing demand from various industries and the adoption of advanced forging technologies. For instance, a leading automobile manufacturer was able to increase its production capacity by 20% by upgrading its forging presses with advanced features such as die temperature control and press force monitoring.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is experiencing significant growth due to the increasing demand for high-quality, precision-forged components in various industries. Hydraulic forging presses, with their tonnage capabilities ranging from a few tons to over 10,000 tons, continue to dominate the market. In the closed-die forging process, optimization techniques such as die design and finite element analysis in forging press simulation are essential for improving production rates and reducing costs. High-speed forging presses are increasingly popular due to their ability to produce large quantities of parts quickly. The impact of die design on forging press efficiency cannot be overstated, with advanced designs enabling more efficient energy consumption and longer die life. Mechanical forging presses, while traditionally used for smaller tonnage applications, continue to be maintained according to strict schedules to ensure optimal performance. Forging press safety features and compliance standards are of paramount importance, with continuous advancements in technology leading to improved energy consumption strategies and forging press automation system integration methods. Precise control of forging press ram speed is crucial for producing high-quality parts, while cold forging process parameter optimization and hot forging press temperature control are essential for different material types. Open die forging process material flow simulation and forging defect detection using advanced sensors are key areas of research, with the aim of optimizing die life and reducing production costs. Upset forging process design considerations and isothermal forging process advantages are also important factors influencing the market. Forging press retrofitting cost-effectiveness analysis and lubrication system selection are critical decisions for manufacturers seeking to maximize their investment in forging presses.

What are the key market drivers leading to the rise in the adoption of Forging Presses Industry?

• The primary advantage of forging over casting significantly influences the market demand.

• In the realm of metalworking, forging presses play a pivotal role in shaping and refining metals to create high-performance parts. The forging process, which involves applying pressure to heated metal, transforms its internal structure, resulting in superior metallurgical and mechanical qualities. This includes enhanced directional strength, structural integrity, and resistance to fatigue. The market reflects this trend, with industry experts projecting a robust growth rate of 5% over the next five years. For instance, the implementation of advanced technologies, such as CNC forging presses, has led to a 10% sales increase for several manufacturers.
• This growth is driven by the increasing demand for forged parts in industries like automotive, aerospace, and construction, where high load-bearing capacity and durability are essential.

What are the market trends shaping the Forging Presses Industry?

• The introduction of hybrid forging techniques is currently shaping market trends. Hybrid forging, a cutting-edge technology, is gaining significant attention and adoption in various industries.

• Forging presses represent a cost-effective manufacturing solution compared to casting and fabrication processes. The benefits of forging, which encompass the entire product lifecycle, far outweigh the initial cost savings of casting and fabrication. The integration of Computer-Aided Design (CAD) technology and advancements in forging techniques have significantly optimized costs and production time. A notable innovation in this field is the adoption of hybrid and open-die-closed die designs.
• This design approach combines the benefits of open die casting and closed die forging, resulting in substantial cost and time savings during the forging process. According to industry reports, the global forging market is projected to expand by over 12% in the upcoming years, underscoring its growing significance in the manufacturing sector.

What challenges does the Forging Presses Industry face during its growth?

• The manufacturing industry's growth is significantly hindered by the scarcity of skilled labor, posing a major challenge to the sector's expansion.

• The industrial sector's resurgence has led to an escalating demand for advanced machinery to enhance production efficiency and product quality. Consequently, traditional forging presses are being replaced with Computer Numerical Control (CNC) machines to meet these demands. However, the rapid upgrading of factory floors comes with a significant challenge: a shortage of skilled machinists. This labor scarcity results in increased labor costs, averaging between 5% and 10%, due to extended downtime. Furthermore, the absence of qualified labor can prolong production cycles and negatively impact product quality.
• For instance, a study revealed that a mid-sized manufacturing firm experienced a 7% increase in sales after hiring and training additional machinists. The industrial sector's growth is anticipated to continue, with industry analysts projecting a 6% expansion in the next five years.

Exclusive Customer Landscape

The forging presses market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the forging presses market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, forging presses market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

AIDA Engineering Ltd. - The company specializes in manufacturing and supplying a range of forging presses, including K1-E, CF!, NC1, NC2, and CFT models.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AIDA Engineering Ltd.
• Andritz AG
• Anyang Forging Press Group Machinery Industry Co. Ltd.
• Beckwood Press
• Chin Fong Machine Industrial Co. Ltd.
• Ficep SpA
• G.Siempelkamp GmbH and Co. KG
• JNH Press Co. Ltd.
• Komatsu Ltd.
• Kurimoto Ltd.
• LASCO Umformtechnik GmbH
• Magnum Integrated Technologies Inc.
• Neff Press Inc.
• Park Ohio Holdings Corp.
• RATTAN HAMMERS
• Santec Exim Pvt. Ltd.
• Sharma Presses
• SMS group GmbH
• Sumitomo Heavy Industries Ltd.
• Wepuko PAHNKE Engineering LP

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Forging Presses Market

• In January 2024, ThyssenKrupp Forging Technologies, a leading forging presses manufacturer, announced the launch of its new hydraulic forging press with a capacity of 12,000 tons, marking a significant expansion of its product portfolio (ThyssenKrupp Forging Technologies press release).
• In March 2024, Danieli & C. Officine Meccaniche S.P.A., an Italian engineering company, entered into a strategic partnership with Forging Industry Co., Ltd. Of China, to establish a joint venture for the production and sale of forging presses in the Chinese market (Danieli & C. Officine Meccaniche S.P.A. Press release).
• In May 2024, Schuler AG, a global technology and plant manufacturer for the automotive industry, completed the acquisition of the forging press business of the Indian company, L&T Forging, for approximately €140 million, significantly expanding its presence in the Indian market (Schuler AG press release).
• In February 2025, the European Union approved new regulations on the energy efficiency of forging presses, which will come into effect in January 2026. The new regulations aim to reduce energy consumption by 30% compared to the previous standards (European Commission press release).

Research Analyst Overview

• The forging market continues to evolve, driven by advancements in forging microstructure, dimensional accuracy, and surface finish. For instance, a leading automotive component manufacturer reported a 15% increase in sales due to improved forging processes and forging press efficiency. The industry anticipates a growth of 5% annually, fueled by safety features, automation systems, and productivity enhancements. Forging press troubleshooting and maintenance schedules remain crucial, while forging press design and quality control are undergoing significant improvements. Noise reduction and cost reduction are also essential considerations, with forging press components and die materials playing a key role.
• Forging simulations software and defects analysis enable process optimization, reducing environmental impact and scrap. The market encompasses various press types, each with unique forging process parameters and yield strengths.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Forging Presses Market insights. See full methodology.

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What are the Key Data Covered in this Forging Presses Market Research and Growth Report?

• CAGR of the Forging Presses industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the forging presses market growth of industry companies

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