| Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 4.2 Billion | USD 7.3 Billion | 5.8% | 2024 |
FrequentlyAsked Questions
Press forging is the process of shaping metal by exerting gradual, controlled pressure between two dies. A forging press is a machine that performs this function. A forging press employs a vertical ram to apply constant force, while drop forging uses repeated impacts.
The forging presses market is being pushed by increased demand for automobiles, planes, defense, and high-performance applications, as well as technological progress and growth in new industries.
The high initial and operational cost is a major challenge for forging presses industry expansion.
Based on the application, the automotive segment is expected to dominate the industry growth during the projected period.
The increasing production capacity by the key market players and technological advancements pose a major impact factor for the industry growth over the projected period.
According to the report, the global forging presses market size was worth around USD 4.2 billion in 2024 and is predicted to grow to around USD 7.3 billion by 2034.
The global forging presses market is expected to grow at a CAGR of 5.8% during the forecast period.
The global forging presses industry growth is expected to be driven by the Asia Pacific region. It is currently the world’s highest-revenue-generating market, driven by the presence of major players and increasing demand from the end-use sector.
The global forging presses market is dominated by players like Sumitomo Heavy Industries Ltd., 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., Magnum Integrated Technologies Inc., LASCO Umformtechnik GmbH, RATTAN HAMMERS, Neff Press Inc., Santec Exim Pvt. Ltd., and Park Ohio Holdings Corp., among others.
The forging presses market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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