What is Global Hydraulic Forging Press Market?
The Global Hydraulic Forging Press Market is a vast and dynamic sector that plays a crucial role in various industries worldwide. It refers to the global market of hydraulic forging presses, which are machines used to shape metal using localized compressive forces. The hydraulic forging press market is a significant part of the larger metalworking industry, and it has a substantial impact on sectors such as automotive, aerospace, and construction. These machines are highly valued for their ability to produce complex shapes with high precision and quality. The market's value was estimated at US$ 2192.3 million in 2023, and it's expected to grow significantly in the coming years.
Closed Die Forging, Open Die Forging, Extrusion Presses, Other in the Global Hydraulic Forging Press Market:
The Global Hydraulic Forging Press Market is segmented into various types based on the forging process they are used for. These include Closed Die Forging, Open Die Forging, Extrusion Presses, and others. Closed Die Forging, also known as impression-die forging, involves metal being placed in a die resembling a mold, which is attached to the anvil. Open Die Forging, on the other hand, involves the shaping of metal between multiple dies that do not enclose the metal entirely. Extrusion Presses are used to create objects of a fixed cross-sectional profile by pushing material through a die of the desired cross-section. Each of these types has its unique applications and advantages, contributing to the diversity and versatility of the Hydraulic Forging Press Market.
Automotive, Hardware Tools, Engineering Machinery, Others in the Global Hydraulic Forging Press Market:
The Global Hydraulic Forging Press Market finds its applications in various sectors such as Automotive, Hardware Tools, Engineering Machinery, and others. In the automotive industry, hydraulic forging presses are used to manufacture parts with high strength and durability. They are also used in the production of hardware tools for their ability to produce complex shapes with high precision. In the field of engineering machinery, these presses are used to forge parts that require high structural integrity. The versatility of hydraulic forging presses makes them an indispensable tool in these industries, driving the growth of the Global Hydraulic Forging Press Market.
Global Hydraulic Forging Press Market Outlook:
Looking at the market outlook, the Global Hydraulic Forging Press Market is on a promising growth trajectory. In 2023, the market was valued at a substantial US$ 2192.3 million. The market is projected to grow at a steady pace, with an expected value of US$ 3172.4 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period from 2024 to 2030. This growth can be attributed to the increasing demand for hydraulic forging presses in various industries, including automotive, aerospace, and construction.
| Report Metric | Details |
| Report Name | Hydraulic Forging Press Market |
| Accounted market size in 2023 | US$ 2192.3 million |
| Forecasted market size in 2030 | US$ 3172.4 million |
| CAGR | 5.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | SMS, Komatsu, Sumitomo, TMP, Schuler, Ajax, Aida, Kurimoto, Fagor Arrasate, Mitsubishi, Lasco, Ficep, First Heavy, Stamtec, Erie, Beckwood, Erzhong, J&H, Mecolpress |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
