According to Goldstein Research, “Forging is a cost effective process to manufacture net-shape components. Cold forging method makes an extensive range of mechanical and physical properties of metal available in products with maximum structural integrity. Apart from excellent performance, high strength, and high reliability applications these metals are helps in meeting environmental demands. Forged metals are highly corrosive and can bear extreme temperature ensuring critical consideration such as human safety. These features are boosting the demand for cold forging method eventually contributing in the growth for cold forging machines market.”
Global cold forging machines market is segmented on the basis of product type and by application. Application segment is further categorized into fastener and shaped pieces. Cold forging of fasteners are preferred over other methods as it produces less metal waste. Along with accurate dimension and high mass production of fasteners, cold forging process reduces around 20%. Cold forging of fasteners also improves the fatigue strength and fracture resistance, which is expected to drive the demand for cold forging machines market.
Asia-Pacific is the dominating region for global cold forging machines market in 2016 and is expected to dominate during the forecast period. Growing demand of forged metals in automotive industry and for infrastructural development is likely to propel the growth of cold forging machines market in the region. Asia-Pacific cold forging machines market valued USD 0.53 billion in 2016 and projected to reach USD 0.75 billion in 2024, is anticipated to grow at a CAGR of 4.0% over the forecast period.
Innovative Cold Forging Process: Precision Cold Forging
Precision metal forging technology for manufacturing near-net shape components is critical for precision engineering industry to maintain the dominance in competitive market. Cold forging machines are capable of manufacturing small net-shape components with critical dimensions which helps in meeting the demand for future in-house and industrial projects. Large industrial projects in Singapore with Shimano are ongoing in the cold forging of components which targets to eliminate secondary processes such as machining operations. These projects are expected to accelerate the demand for cold forging machines market in the near future
“Global Cold Forging Machines Market Outlook 2024” contains detailed overview of the global cold forging machines market in terms of market segmentation by product type and by application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global cold forging machines market also provides competitive outlook of some of the major players of global cold forging machines market which includes profiling of companies such as Jern Yao Enterprises Co., Ltd., National Machinery, Sacma, Nedschroef Herentals, Hatebura, Sakamura, Carlo Salvi, Chun Zu Machinery Industry Co. Ltd, Ningbo Sijin Machinery Co. Ltd., Zhejiang Dongrui Machinery Industrial Co. Ltd., Wuxi Zhengyao Machinery Co., Ltd., ZHEJIANG YESWIN MACHINERY CO.,LTD, Hyodong Machine Co., Ltd., Komatsu Ltd., Baihe Machinery, Nakashimada Engineering Works, Ltd and Koninklijke Nedschroef Holding B.V. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global cold forging machines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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