Global Metal Forging Machine Market Overview:
Forging is a metal-shaping technique that uses localized compressive forces to shape metal. A hammer or a die is used to execute the blows. Cold forging, warm forging, or hot forging are all terms used to describe the temperature at which forging is done. For the hot forging, metal is heated in a forge. Metal Forging Machine is used to give the metal the desired shape. Power hammer is generally used in these machines. Forging is widely used in the manufacturing of metal components. There are multiple types of metal forging machines like mechanical forging machines, hydraulic forging machines, screw press, and upsetter. Among these types; mechanical and hydraulic are the most common types of forging machines in the industry. With the increasing need for forging, the demand for metal forging machines is also increasing.
As per latest study released by AMA Research, the Global Metal Forging Machine market is expected to see growth rate of 7.7%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Demand of Metal Forge Machine of Assembly Purposes and Growing Research on Development of New Type of Metal Forging Machines
Market Growth Drivers:
Increasing Demand of Metal Forging Machines for The Manufacture of Metal Components and Growing Demand of Metal Forging Machines for Tasks Like Metal Forming, Straightening, And Blacking
Challenges:
Metal Forging Machines Have to Be Maintained Periodically for Efficient Use
Restraints:
Initial Capital Cost Is High in Case of Metal Forging Machine
Opportunities:
Growing Demand of Metal Forging Machines Due to Increasing Demand from Heavy Industries and Increasing Manufacturing Activity Will Increase the Demand for Metal Forging Machines
Competitive Landscape:
With the increasing need for metal works; the demand for metal forging machines is increasing. The market is fragmented and local players dominate in this market. North America and China are the two most dominant regions in the metal forge machine market. As the machine is primarily used in heavy industries; the demand for metal forging machines is not stable. Rapid innovation is making forging machines more efficient and cost-effective.
Some of the key players profiled in the report are SMS Group (Germany), ATI (United States), Bharat Forge Ltd. (India), Vision Metal Stamping Technologies (India), Arconic Corp (United States), Shree Engineering Works (India), Bruck GmbH (Germany), China First Heavy Industries (China), Macrodyne Hydraulic Presses & Automation (United States), Grimco Presses Inc. (United States) and Trinks Inc. (United States). Analyst at AMA Research see Global Manufacturers to retain maximum share of Global Metal Forging Machine market by 2030. Considering Market by Sales Channel, the sub-segment i.e. Direct will boost the Metal Forging Machine market. Considering Market by Product, the sub-segment i.e. Mechanical Forging Machines will boost the Metal Forging Machine market.
Latest Market Insights:
For instance, in February 2022, Goodluck India Ltd. announced that they had completed the installation of a new press for the forging unit. The unit is expected to help the company manufacture larger components for aerospace, defense, and critical industrial machines.
On March 24, 2021, SMS Group a leading player in the metal forging market announced that it has successfully completed the modernization of the vacuum pump of China Steel Corporation’s RH facility at the steelworks in Kaohsiung, Taiwan. In February 2021, the SMS group received the Final Acceptance Certificate (FAC) for modernization.
What Can be Explored with the Metal Forging Machine Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Metal Forging Machine Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Metal Forging Machine
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Metal Forging Machine market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Metal Forging Machine market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Metal Forging Machine Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.