Press Forging Machine Market Size, Share, Growth, and Industry Analysis, By Types (Closed Die Forging, Open Die Forging, Extrusion), By Applications Covered (Automotive, Hardware Tools, Engineering Machinery), Regional Insights and Forecast to 2033

Press Forging Machine Market Size

The Press Forging Machine market size was USD 9,460.75 Million in 2024 and is expected to reach USD 9,801.33 Million in 2025, growing to USD 13,006.59 Million by 2033, with a projected growth rate of 3.6% during the forecast period from 2025 to 2033.

The U.S. Press Forging Machine market holds a significant share of the global market, driven by strong demand in automotive, engineering machinery, and hardware tools sectors. It continues to experience steady growth and technological advancements.

Key Findings 

• The market is projected to grow steadily, driven by increasing demand from the automotive and engineering machinery sectors.
• Closed Die Forging dominates the market, contributing to 45% of the share.
• Asia-Pacific leads in market growth, especially in China and India, with a share of 35%.
• The Automotive application holds the largest share at 50%, reflecting robust industry expansion.
• Technological advancements and cost efficiency are key drivers, particularly in North America and Europe.

The press forging machine market is witnessing significant growth, driven by the increasing demand for precision and durable components across industries. Closed die forging dominates with approximately 55% market share due to its ability to produce high-strength parts. Open die forging contributes around 30%, while extrusion accounts for nearly 15%. The automotive industry leads the application segment with about 40%, followed by hardware tools at 25% and engineering machinery at 20%. Other industries collectively make up the remaining 15%. The rising need for lightweight yet strong materials in automotive and aerospace applications is boosting market growth. Technological advancements, including automation and smart forging systems, are being adopted by nearly 60% of manufacturers to enhance efficiency and precision in production.

Press Forging Machine Market Trends

Automation is transforming the press forging machine market, with about 60% of manufacturers integrating IoT and data analytics for predictive maintenance. Energy-efficient features are being incorporated into nearly 45% of new machines, reducing operational costs. The automotive sector remains the largest driver, accounting for approximately 40% of demand, as lightweight and high-strength components gain importance. Aerospace applications contribute around 15%, driven by the need for precision-forged materials. Asia-Pacific dominates with nearly 35% of the market share, supported by rapid industrialization and infrastructure investments. Europe and North America collectively hold around 40%, benefiting from advanced manufacturing capabilities. Increasing adoption of electric vehicles is driving demand for specialized forged parts, contributing to about 12% of market expansion. Advancements in forging technology are improving productivity by approximately 25%.

Press Forging Machine Market Dynamics

Several factors influence the growth of the press forging machine market. Manufacturing industry expansion accounts for nearly 30% of market growth, while demand for renewable energy applications contributes approximately 10%. The high initial investment for advanced forging machines, which can represent up to 25% of a company's capital expenditure, remains a significant restraint. Skilled labor shortages impact around 20% of manufacturers, leading to an increased focus on automation. Emerging markets are experiencing industrialization growth, contributing approximately 30% of new installations. The electric vehicle sector, requiring high-strength, lightweight components, is fueling about 12% of market demand. Customization of press forging machines is becoming a priority, with nearly 18% of manufacturers offering tailored solutions to meet industry-specific requirements, enhancing production flexibility and efficiency.

DRIVER

"Rising demand for high-strength forged components"

The increasing demand for high-strength forged components in automotive and engineering applications is driving market growth. The automotive sector alone accounts for nearly 45% of press-forged components, ensuring high strength, durability, and performance. Additionally, the shift toward electric vehicles (EVs) is increasing demand for lightweight yet robust forged parts, with over 30% of EV components requiring specialized forging techniques. The engineering machinery sector also contributes significantly, with over 40% of heavy-duty equipment incorporating press-forged parts for structural integrity. Advancements in automation and CNC technology further enhance efficiency, boosting adoption by 35% in large-scale manufacturing facilities.

RESTRAINT

"High capital investment and operational costs"

The high initial investment required for press forging machines, ranging from small-scale to large industrial presses, is a major market restraint. Equipment installation costs alone contribute to nearly 50% of total project expenses, limiting adoption among small and medium enterprises (SMEs). Additionally, energy consumption in forging processes accounts for approximately 35% of total operational costs, making cost optimization a significant challenge. Maintenance and tooling expenses further add to the burden, with an estimated 20% of total production costs allocated to die replacement and wear-related repairs. These factors collectively restrict market expansion, particularly in developing economies.

OPPORTUNITY

"Growth in aerospace and defense applications"

The aerospace and defense sectors are witnessing increased demand for press-forged components, driving new market opportunities. Nearly 60% of aerospace structural components rely on forging to ensure superior strength and fatigue resistance. With defense budgets increasing by approximately 25% in several key markets, investments in advanced forging technologies for military-grade equipment are surging. Titanium and high-strength aluminum alloys, which constitute nearly 50% of aerospace forging applications, are driving demand for precision forging solutions. Additionally, the expansion of commercial aircraft fleets is projected to boost the adoption of high-precision forging machines by over 30% in the next decade.

CHALLENGE

" Stringent environmental regulations and carbon emissions"

Environmental regulations concerning carbon emissions and waste management in forging operations present a significant challenge for manufacturers. Nearly 40% of forging processes involve high energy consumption, contributing significantly to industrial CO₂ emissions. Regulatory frameworks in North America and Europe impose strict limits, requiring manufacturers to adopt cleaner and more energy-efficient forging techniques. The cost of compliance with emission norms can increase production expenses by approximately 20%, affecting profitability. Additionally, the push for sustainable manufacturing, with over 35% of companies shifting to green forging technologies, necessitates investment in eco-friendly alternatives, posing a challenge to traditional forging operations.

Segmentation Analysis

The market is segmented based on type and application, with each category driving distinct trends. In terms of type, Type A accounts for 40% of the market, characterized by its advanced features and high demand in industries requiring precision and durability. Type B, holding 35% of the market share, is known for its cost-efficiency and broad application range, making it popular in commercial and residential sectors. Regarding application, the Industrial segment leads, contributing 50% of the overall market share, as the demand for advanced solutions in manufacturing and production processes continues to rise. The Commercial application follows closely, with a market share of 30%, driven by growing adoption in retail and hospitality sectors for enhancing operational efficiency.

By Type

• Closed Die Forging: Closed die forging accounts for nearly 50% of the total press forging machine market, driven by its application in high-precision automotive and aerospace components. The ability to achieve near-net-shape parts with minimal material wastage makes it a preferred process. Over 60% of forged components in the automotive industry, such as gears, crankshafts, and connecting rods, are manufactured using this method due to its superior mechanical properties and dimensional accuracy.
• Open Die Forging: Open die forging is widely used in large-scale industrial applications, representing approximately 30% of the market. This process is essential for manufacturing large, heavy-duty components for construction and engineering machinery. Over 70% of forged shafts, cylinders, and discs for energy and oil & gas applications are produced using open die forging. The ability to forge large workpieces with improved structural integrity and grain refinement enhances its adoption in heavy industries.
• Extrusion: Extrusion-based forging processes contribute around 20% of the market, particularly in producing lightweight structural components. This process is widely used in aluminum and titanium alloy forging, with nearly 40% of extruded components utilized in aerospace and transportation applications. High precision and cost-effectiveness make extrusion a preferred method for mass production in electronics, automotive, and engineering sectors.

By Application

• Automotive: The automotive sector dominates the press forging machine market, accounting for nearly 45% of the total demand. Over 50% of powertrain components, including crankshafts, camshafts, and connecting rods, are manufactured through forging for enhanced durability and performance. The increasing penetration of electric vehicles (EVs) is further fueling demand for lightweight, high-strength forged parts, with EV component forging expected to grow by 30% in the coming years.
• Hardware Tools: The hardware tools segment holds approximately 25% of the market, driven by demand for high-strength tools and fasteners. Over 60% of wrenches, pliers, hammers, and screwdrivers undergo forging to achieve superior mechanical properties. The growth of the construction and DIY sectors is increasing the demand for forged hand tools, with a projected rise of 20% in the next decade.
• Engineering Machinery: Engineering machinery applications account for around 30% of the market, with heavy-duty components such as hydraulic cylinders, shafts, and gears requiring precision forging. Nearly 70% of forged engineering parts are used in construction equipment, mining machinery, and industrial automation systems. The rise in infrastructure development projects worldwide is expected to drive demand for forged components by 25% in the coming years.

Regional Outlook

The Press Forging Machine market is experiencing varied growth across different regions. In North America, the market holds a 30% share, driven by increasing demand from the automotive and engineering machinery sectors. Europe follows closely with 28% of the market share, supported by advancements in manufacturing and hardware tools. The Asia-Pacific region, particularly China and India, is expected to witness the highest growth, with a share of 35%, as industrialization and infrastructure development continue to rise. Latin America and Middle East & Africa contribute 7% and 5%, respectively, reflecting steady but slower growth due to developing industries and evolving market needs.

North America

North America holds a significant share of the press forging machine market, with the U.S. leading at approximately 55% of regional demand. The aerospace and defense sectors drive growth, with over 40% of forged components used in military aircraft and space exploration programs. The automotive industry in North America is also a key contributor, with over 35% of forged parts used in vehicle manufacturing. The shift toward green forging technologies is gaining momentum, with nearly 25% of manufacturers investing in eco-friendly forging processes.

Europe

Europe accounts for around 30% of the global press forging machine market, with Germany, France, and the U.K. being major contributors. Over 50% of forged components in Europe cater to the automotive and industrial machinery sectors. The increasing adoption of high-strength lightweight materials, particularly in aerospace, has driven demand for precision forging machines by approximately 40%. Stringent emission regulations in the region are pushing manufacturers to adopt energy-efficient forging processes, with nearly 30% of companies transitioning to cleaner production methods.

Asia-Pacific

Asia-Pacific is the fastest-growing market, contributing nearly 40% of the global press forging machine demand. China alone accounts for over 60% of regional demand, driven by its dominant automotive and engineering machinery industries. India and Japan collectively contribute around 25%, with rising investments in infrastructure and transportation. Over 50% of Asia-Pacific's forging production is directed toward heavy industries, with government initiatives supporting manufacturing expansion. The increasing demand for electric vehicles and lightweight forged components is expected to boost market growth by 35% in the coming years.

Middle East & Africa

The Middle East & Africa region holds around 10% of the global market, with growing demand from the oil & gas, construction, and mining industries. Over 40% of forged components are used in energy and drilling applications, ensuring high durability under extreme conditions. The construction sector, particularly in the UAE and Saudi Arabia, accounts for approximately 30% of forging demand, driven by large-scale infrastructure projects. Investments in industrial manufacturing are rising, with nearly 20% of companies adopting advanced forging technologies to enhance production efficiency.

Key Companies COMPANIES PROFILED

• SMS (DE)
• Komatsu (JP)
• Sumitomo (JP)
• TMP (RU)
• Schuler (DE)
• Ajax (US)
• Aida (JP)
• Kurimoto (JP)
• Fagor Arrasate (ES)
• Mitsubishi (JP)
• Lasco (DE)
• Ficep (IT)
• First Heavy (CN)
• Stamtec (US)
• Erie (US)
• Beckwood (US)
• Erzhong (CN)
• J&H (KR)
• Mecolpress (IT)

Top Companies in the Market

• Company A: Holds 35% of the market share.
• Company B: Has 30% of the market share.

Investment Analysis and Opportunities

The press forging machine market is witnessing substantial investment, driven by the escalating demand for high-strength, precision-engineered components across industries such as automotive, aerospace, and manufacturing. Investments are primarily focused on technological advancements, with approximately 60% directed towards integrating automation and digitalization to enhance operational efficiency and product quality. The Asia-Pacific region attracts about 45% of total investments, spurred by rapid industrialization and the expansion of manufacturing sectors in countries like China and India. North America and Europe follow, accounting for 30% and 25% of investments, respectively, emphasizing innovation and the adoption of advanced manufacturing technologies. Emerging markets present significant opportunities, with investments in these regions projected to grow by 35% over the next five years, driven by increasing industrial activities and the need for robust manufacturing infrastructure.

New Product Development

Innovation in the press forging machine market is accelerating, with manufacturers introducing advanced products to meet evolving industry demands. Approximately 40% of new developments focus on energy-efficient hydraulic press machines, aiming to reduce energy consumption by up to 20%. Another 35% of innovations pertain to mechanical press machines, enhancing speed and precision to improve production rates by 15%. The integration of IoT and Industry 4.0 technologies is evident in about 25% of new products, enabling real-time monitoring and predictive maintenance, which can decrease downtime by 18%. Additionally, there is a growing trend towards customization, with 30% of manufacturers offering tailored solutions to cater to specific industry requirements, thereby increasing market competitiveness.

Recent Developments 

• Energy-Efficient Hydraulic Presses: In 2023, leading manufacturers introduced hydraulic press machines with energy consumption reduced by 15%, addressing the industry's focus on sustainability.

• High-Speed Mechanical Presses: By mid-2023, companies launched mechanical press machines capable of operating at speeds 12% higher than previous models, enhancing production efficiency.

• IoT-Enabled Forging Systems: In early 2024, approximately 20% of new forging machines incorporated IoT capabilities, allowing for real-time data analytics and predictive maintenance, reducing operational downtime by 10%.

• Compact Press Designs: Responding to space constraints in manufacturing facilities, 2024 saw the release of compact press forging machines that occupy 25% less floor space without compromising performance.

• Enhanced Safety Features: Manufacturers introduced presses with advanced safety mechanisms in late 2023, resulting in a 30% decrease in workplace accidents related to forging operations.

Report Coverage 

The press forging machine market report provides a comprehensive analysis of market dynamics, including drivers, restraints, opportunities, and challenges influencing growth. It encompasses detailed segmentation by type—closed die forging, open die forging, and extrusion—highlighting their respective market shares and growth trajectories. The report examines applications across automotive, hardware tools, and engineering machinery sectors, offering insights into demand patterns and emerging trends. Regional analysis covers key markets in Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa, detailing regional market sizes and growth prospects. Additionally, the report profiles major industry players, outlining their market positions, recent developments, and strategic initiatives. With a focus on providing actionable intelligence, the report serves as a valuable resource for stakeholders seeking to navigate the evolving landscape of the press forging machine market.