Forging Presses by Type (Mechanical, Hydraulic, World Forging Presses Production ), by Application (Automotive, Hardware Tools, General Machine, Home Appliances, Others, World Forging Presses Production ), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of Middle East & Africa), by Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2025-2033
The global forging presses market was valued at USD 11.74 billion in 2019 and is projected to reach USD 17.50 billion by 2033, exhibiting a CAGR of 4.6% during the forecast period. The growth of the market is attributed to the increasing demand for forged components from the automotive and aerospace industries.
The rising demand for forged components is driven by their superior strength-to-weight ratio, which makes them ideal for use in critical applications such as automotive engines, transmissions, and landing gear in aircraft. The market is also witnessing the adoption of advanced technologies such as intelligent forging and high-speed forging, which offer increased efficiency and productivity. However, the high cost of forging presses and the need for skilled labor remain the major challenges faced by the market.
The global forging presses market is projected to grow from USD XXX million in 2022 to USD XXX million by 2029, exhibiting a CAGR of XXX% during the forecast period. The market growth is primarily driven by the increasing demand for forged components in automotive, general machine, and hardware tool industries, where strength, precision, and durability are crucial. Moreover, the growing need for lightweight and efficient components in various end-use industries, such as aerospace, marine, and construction, is contributing to the market expansion.
The growing demand for high-strength and durable components in the automotive sector is a key driving force for the forging presses industry. Forged components, such as crankshafts, connecting rods, and transmission gears, provide superior strength and longevity compared to cast or machined parts, making them essential for heavy-duty vehicles and high-performance applications.
Additionally, the increasing adoption of forging technology in the aerospace industry is driving market growth. Forged aircraft components, including landing gear, engine parts, and fuselage frames, offer high strength-to-weight ratios, improved fatigue resistance, and reduced manufacturing lead times, making them ideal for demanding aerospace applications.
Government initiatives promoting infrastructure development and industrial growth in emerging economies are also fueling the demand for forging presses. These initiatives are leading to increased investments in construction, transportation, and energy sectors, which require forged components for heavy machinery, construction equipment, and power generation systems.
Despite the promising growth prospects, the forging presses market faces certain challenges and restraints. The high capital cost associated with forging equipment and the need for skilled labor can limit the adoption of technology in small and mid-size enterprises.
Moreover, fluctuations in raw material prices, particularly steel and aluminum, can impact production costs and profitability margins for forging press manufacturers. The sensitivity of forging operations to environmental regulations and the need to comply with stringent safety standards can also pose challenges to the industry.
Key Regions: Asia-Pacific is expected to dominate the global forging presses market, accounting for the largest share of revenue throughout the forecast period. The region's rapidly growing automotive and general machine industries, coupled with government initiatives promoting infrastructure development, are driving market expansion.
Key Segment: The mechanical forging press segment is projected to maintain a dominant market position over the forecast period. Mechanical presses offer high precision and speed, making them suitable for producing complex and intricate forged components. They are widely used in the automotive and hardware tool industries, where dimensional accuracy and surface finish are critical.
Key Applications: The automotive segment is expected to drive the highest demand for forging presses during the forecast period. Increased production of passenger cars, commercial vehicles, and electric vehicles is leading to a growing need for forged components, such as crankshafts, connecting rods, and suspension parts.
Technological advancements in forging press designs, such as high-speed and energy-efficient models, are enhancing productivity and reducing operating costs.
The development of lightweight alloys and composite materials is creating new opportunities for forging presses in industries such as aerospace and automotive.
Growing adoption of Industry 4.0 technologies, such as automation, data analytics, and predictive maintenance, is improving production efficiency and reducing downtime.
In January 2023, Aida Engineering, Ltd. introduced a new generation of high-speed mechanical forging presses with improved precision and energy efficiency.
In November 2022, Yangli Group invested in a new forging press manufacturing facility in China to expand its production capacity and meet growing demand.
In July 2022, Schuler Group unveiled a new line of servo-driven hydraulic forging presses designed for high-precision and complex forging operations.
This report provides comprehensive coverage of the global forging presses market, including key market trends, driving forces, challenges, and opportunities. It offers detailed analysis of the market by type, application, and region, along with profiles of major players in the industry. The report also examines significant developments and future prospects in the forging presses sector, providing valuable insights for stakeholders.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of XX% from 2019-2033 |
Segmentation |
|
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of XX% from 2019-2033 |
Segmentation |
|
Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
MR Forecast provides premium market intelligence on deep technologies that can cause a high level of disruption in the market within the next few years. When it comes to doing market viability analyses for technologies at very early phases of development, MR Forecast is second to none. What sets us apart is our set of market estimates based on secondary research data, which in turn gets validated through primary research by key companies in the target market and other stakeholders. It only covers technologies pertaining to Healthcare, IT, big data analysis, block chain technology, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Energy & Power, Automobile, Agriculture, Electronics, Chemical & Materials, Machinery & Equipment's, Consumer Goods, and many others at MR Forecast. Market: The market section introduces the industry to readers, including an overview, business dynamics, competitive benchmarking, and firms' profiles. This enables readers to make decisions on market entry, expansion, and exit in certain nations, regions, or worldwide. Application: We give painstaking attention to the study of every product and technology, along with its use case and user categories, under our research solutions. From here on, the process delivers accurate market estimates and forecasts apart from the best and most meaningful insights.
Products generically come under this phrase and may imply any number of goods, components, materials, technology, or any combination thereof. Any business that wants to push an innovative agenda needs data on product definitions, pricing analysis, benchmarking and roadmaps on technology, demand analysis, and patents. Our research papers contain all that and much more in a depth that makes them incredibly actionable. Products broadly encompass a wide range of goods, components, materials, technologies, or any combination thereof. For businesses aiming to advance an innovative agenda, access to comprehensive data on product definitions, pricing analysis, benchmarking, technological roadmaps, demand analysis, and patents is essential. Our research papers provide in-depth insights into these areas and more, equipping organizations with actionable information that can drive strategic decision-making and enhance competitive positioning in the market.