Closed Die Forging Press Market Size, CAGR, Trends 2024-2030
Market Overview and Report Coverage
A Closed Die Forging Press is a machine used in the manufacturing process of shaping metal parts through the application of high pressure and heat. It is commonly used in various industries such as automotive, aerospace, and construction.
The current outlook for the Closed Die Forging Press Market is positive, with a growing demand for high-quality metal components in these industries. The market is expected to witness significant growth in the coming years, driven by the increasing need for lightweight and durable materials in manufacturing processes.
The market forecast for the Closed Die Forging Press Market predicts a CAGR of % during the forecasted period, indicating a steady growth trajectory. The latest market trends include technological advancements in forging processes, automation of production lines, and increasing investments in research and development.
Overall, the Closed Die Forging Press Market is poised for growth, fueled by the rising demand for precision-engineered metal components across various industries. With continuous innovation and development in forging technology, the market is expected to see significant expansion in the near future.
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Market Segmentation
The Closed Die Forging Press Market Analysis by types is segmented into:
- Under 10000 KN
- 10000-100000 KN
- Above 100000 KN
Closed die forging press market can be categorized into three types based on the capacity: under 10000 KN, 10000-100000 KN, and above 100000 KN. The under 10000 KN market caters to smaller scale forging operations, while the 10000-100000 KN market targets medium to large scale productions. The above 100000 KN market serves heavy-duty and high-volume forging requirements. Each segment offers specialized equipment and solutions tailored to the specific needs and scale of the forging operation.
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The Closed Die Forging Press Market Industry Research by Application is segmented into:
- Automotive Industry
- Hardware Tools
- Engineering Machinery
- Others
Closed die forging presses are widely used in the automotive industry for manufacturing various components like gears, shafts, and brackets. In the hardware tools sector, these presses are used to produce durable and high-quality hand tools. In the engineering machinery industry, closed die forging presses are employed to create complex and precision components for equipment and machinery. Additionally, these presses find applications in various other industries for forging a wide range of products to meet specific requirements.
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In terms of Region, the Closed Die Forging Press Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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What are the Emerging Trends in the Global Closed Die Forging Press market?
The global closed die forging press market is experiencing several emerging and current trends. One emerging trend is the increasing adoption of automation and robotics in the forging process to improve efficiency and reduce labor costs. Another trend is the growing demand for lightweight materials and complex shapes in industries such as automotive and aerospace, driving the need for advanced forging technologies. Additionally, there is a focus on sustainability and environmentally friendly practices, leading to the development of more energy-efficient and eco-friendly forging processes. Overall, the market is projected to witness significant growth and innovation in the coming years.
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Major Market Players
Closed die forging press market players such as Aida, SMS, China National Erzhong Group, Schuler, and Komatsu are some of the key players in the industry. Aida has a strong market presence with a wide range of closed die forging press products and a global customer base. SMS is known for its innovative technologies and solutions in the forging industry, which have contributed to its market growth.
China National Erzhong Group is one of the largest players in the market, with a significant market share in Asia. Schuler is another key player in the market known for its high-quality closed die forging press machines and strong customer support services. Komatsu is a leading player in the industry known for its advanced technology and automation solutions.
The closed die forging press market has been witnessing growth due to the rising demand for forged components in various industries such as automotive, aerospace, and industrial machinery. The market is also driven by the increasing focus on lightweight materials, energy efficiency, and sustainability.
The market size of the closed die forging press industry is expected to grow at a steady rate in the coming years, with a CAGR of around % from 2021 to 2026. The global closed die forging press market was valued at around $2.5 billion in 2020 and is projected to reach over $3 billion by 2026.
In terms of sales revenue, Aida generated around $500 million in sales in 2020, while Schuler reported sales revenue of approximately $400 million. SMS and Komatsu also reported strong sales revenue figures, with SMS generating around $450 million and Komatsu reporting sales revenue of over $300 million. China National Erzhong Group reported sales revenue of around $600 million in 2020.
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