[email protected]
We established a quick response research team to monitor the impacts of global pandemic COVID19 on this market to keep our clients informed about latest data and changing strategies. The report will incorporate these insight and data factors. | × |
---|
2020-03-12
750
Global
Forging and tooling machines are an integral part of the manufacturing industry to develop innovative approaches for new tools and tooling systems. The automotive industry is a positive influence on the expansion of the forging industry across the globe. Every year the automotive industry consumes over 60% of forged metals that are produced across the world. Cold forging method is mainly preferred for soft metals such as aluminum. Features such as reliability, high strength, and economic feasibility are increasing the importance of the use of cold forged parts supporting the demand for cold forging machines market across the globe. High quality surface finish and dimensional accuracy of metals can be obtained with cold method thus propelling the growth for global cold forging machines market.
Moreover, the rising implementation of computer-aided designing (CAD) helps in reducing the time and cost in the manufacturing process, which is further boosting the demand for hybrid forging techniques. This is likely to accelerate the adoption of cold forging machines in the near future.
Global Cold Forging Machines Market is segmented on the following basis:
Based on geography, Asia-Pacific is the dominating region and accounted for 56% revenue share of the global cold forging machines market in 2016. The growing infrastructural development and automotive industry in developing and developed nations is contributing to the growth of the forging industry, ultimately contributing in the expansion of cold forging machines market in the Asia-Pacific region. Emerging manufacturing and automotive industries in countries such as China and India are propelling the demand for cold forging machines market in the Asia-Pacific region.
Mature manufacturing and automotive industry in countries such as Germany, Bulgaria, Finland, France, Hungary and other countries of the European Union is fuelling the growth for cold forging machines market in Europe. Europe's cold forging machines market valued USD 0.20 billion in 2016 and is projected to grow at a CAGR of 6.0% during the forecast period. Whereas, North America cold forging machines market is projected to reach a value of USD 0.27 billion in 2024, owing to the expanding manufacturing industry in the region.
Cold forging machines provide high accuracy and help in obtaining simple shapes with high volume. Cold forging machines helps in achieving the maximum utilization of raw material by volume. Cold forged component with lightweight shows excellent mechanical properties. Light weight design of material also helps in reducing material usage, cost and energy utilization required for the manufacturing process.
However, iron and steel are always hot forged and helps in preventing the machine operation on the material. Hot forging is more economical for iron and steel than cold forging. Also, the less ductile property of cold forged metals makes it inappropriate to meet specific customized configuration and heat treatments are necessary for cold forged metals to eliminate cracks. This is likely to impact the adoption of cold forging machines in the near future.
Market Synopsis
Market Segmentation
The Global Cold Forging Machines Market is segmented as follows:
By Region
Market Dynamics: Growth Drivers, Restraints and Opportunities
Key Market Players
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in a dynamic ecosystem
Expert Analysis
Concluding Remarks
For a full detailed overview, send here request for market report sample.
A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements
OR Call Us:+1-646-568-7747Global Tire Market Outlook 2025: Global Opportunity and Demand Analysis, Market Forecast 2017-2025
China Underground Mining Equipment Market Outlook 2025: Opportunity Assessment and Demand Analysis, Market Forecast, 2017-2025
Cold Forging Machines Market Outlook 2025: Global Opportunity and Demand Analysis, Market Forecast, 2017-2025
Commercial Label Printer Market Outlook 2025: Global Opportunity and Demand Analysis, Market Forecast, 2017-2025
3D Printing Robots Market Outlook 2025: Global Opportunity and Demand Analysis, Market Forecast, 2017-2025