Cold Forging Machine Market Size, Share, Growth, and Industry Analysis by Type (2-Die Station, 3-Die Station, 4-Die Station, 5-Die Station, 6-Die Station, and Other (1-Die Station, 7-Die Station), By Application (Fastener, and Shaped Pieces), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Cold Forging Machine Market Report Overview

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The global cold forging machine market size is estimated to be USD 1822.3 million in 2022 and is projected to touch USD 2398.51 million by 2031, at a CAGR of 3.1% during the forecast period.

A cold forging machine is a piece of machinery used to create shaped components and fasteners using the cold forging process. To form the material into the appropriate shape during cold forging, displacement is used. At room temperature, compression force is used to squeeze the metal until it follows the shapes of the die. Rolling, pressing, drawing, spinning, heading, and extrusion are examples of cold forging techniques. Cold extrusion is essentially standard extrusion pressing of aluminum or other soft or sheet metal components.

Forgings such as crankshafts and camshafts are typical examples of cold solid forging. The machine is commonly used in industries like Automotive, aerospace, agricultural, off-road, ships, piping, and hand tools. Cold forging is used for gear production because it eliminates the need for most machining or gear shaping. An important benefit of cold-forged gears is how smoothly and quietly they intermesh.

COVID-19 IMPACT : Decreasing Manufacturing Requirements Reduced Product Demand

The global COVID-19 pandemic has been unprecedented and staggering, with cold forging machine experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the demand returning to pre-pandemic levels once the pandemic is over. 

COVID-19 had a life changing impact globally. The global cold forging machine market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for cold forging machine experienced a drop in demand.

The metal shaping industry has rapidly responded to the COVID-19 outbreak by ensuring the safety of employees while maintaining business continuity. However, a drop in demand has compelled manufacturers to lower production levels and limit inventories. At the same time, they have been forced to put CapEx intensive projects on hold to prevent cash outflow and maintain cash reserves for urgent needs. In addition, communication has been largely virtualized with reduced shift timings paving the way for short-term work to mitigate job loss. Inadequate and inconsistent demand for cold forged metal products and market uncertainties makes it difficult to manage the risk of balancing production and capacity utilization.

Based on the results of field analysis by ResearchGate, it shows that the influence of the Covid-19 pandemic greatly affects the global economy so that it will affect the manufacturing industries like Automotive and plumbing.  In getting raw materials obtained from various countries, where some of the countries such as America, Germany and European Union countries stop the process production so that it will hamper the manufacturing industry production process, the Covid-19 pandemic greatly affects the manufacturing industry. In terms of raw material supply is hampered, raw material prices are unstable, and declining sales. This resulted in low purchasing power, this will certainly have an impact on the sustainability of the manufacturing industry.

LATEST TRENDS

"Scientific Advancement and Continuous Innovation to Strengthen Market Outlook"

Making high-quality products at competitive prices is essential for survival in today's cutthroat marketplace. This translates into fewer, more effective processes in the context of metal forming, the elimination of secondary operations, and the maintenance of surface finish, tolerance, and dimensional specifications. It is crucial to select a process that will meet the design requirements while also being cost-effective for the required production volume. Process modelling for net shape manufacturing is one method for achieving this goal. In order to improve quality and reduce costs, the Engineering Research Center is conducting ongoing, industry-relevant cold and warm forging research, which is presented in this paper. It presents recent findings on fuel injector nozzle sequence design, fracture modelling during induction heating, and modelling.

Cold Forging Machine Market Segmentation

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• By Type

Based on type, the market is divided into 2-Die Station, 3-Die Station, 4-Die Station, 5-Die Station, 6-Die Station, and Other (1-Die Station, 7-Die Station.

4-Die Station holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into Fastener, and Shaped Pieces.

Fastener as application holds a major share of the global market.

DRIVING FACTOR

"Ease of Reproducibility to Boost Market Share "

With this cold forging machine, interchangeability and reproducibility are improved. The benefits of improved grain directional qualities include better surface finish, fewer contamination problems, improved dimensional control, and increased strength. This property of reusability proved essential in the growth of the global cold forging machine market share. Industrialists considered it a one-time investment as it could be reused.

"Cost Effective to Boost Market Size"

It is not necessary to use expensive heating apparatus, tooling, or secondary processing when cold forging. There is a major percent material savings when compared to machining. In other metal processing operations, furnaces, kilns, or electricity are typically used to raise a metal's temperature above the austenite stage. They take a lot of time, are expensive to maintain, and produce pollution. Hence this reduces the overall costs that goes into the cold forging machines. This is estimated to boost the global cold forging machine market share.

RESTRAINING FACTOR

"Lack of Versatility to Pose as a Market Diver"

Due to the potential for production-related cracking, the creation of unwelcome residual stress, and the fact that forged metals are frequently less ductile, cold forging machines have the disadvantage of being inappropriate for some materials. You can get assistance choosing from a variety of options from a subject matter expert. Increase in mechanical power requirement also poses as a restraining factor. To generate the necessary compressive force and pressure, production processes need to exert a significant amount of force. Although the size of the equipment has been reduced by the addition of hydraulics and pneumatics, the power consumption of the machines has not been completely eliminated.

Cold Forging Machine Market Regional Insights

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"APAC Dominates the Market as Major Investor"

Asia-Pacific countries are the largest market shareholder for cold forging machine. This is built upon factors such as huge investments of the governments in the developing countries. These investments are planned for large-scale infrastructure projects. Adding onto this is the growing purchasing power, growing economy and rapid urbanization. Europe is the second major shareholder of the global cold forging machine market.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Jern Yao [Taiwan]
• Chun Yu Group [Taiwan]
• National Machinery llc [U.S.]
• SACMA Group [Italy]
• Sakamura [Japan]
• Hyodong [South Korea]
• Carlo Salvi [Germany]
• Nakashimada [Japan]
• Komatsu [Japan]
• Nedschroef [Netherlands]
• Sunac [China]
• Tanisaka [Japan]
• GFM [Austria]
• Aida [America]
• Hatebur [Switzerland]
• Manyo [Japan]
• Stamtec [U.S.]
• Shanghai Chun Yu Group [China]
• Ningbo Sijin Machinery [China]
• Tongyong Metal [Taiwan]
• Qunfeng Machinery [China]
• Guangzhou innor machinery [China]
• Yeswin Group [Taiwan]
• Dongrui Machinery [China]
• Jern Yao [Taiwan]
• Yixing Jufeng Machinery [China]
• Harbin Rainbow Technology [China]
• Rayliter [Canada]
• Xiangsheng Machine [Taiwan]
• Baihe Machinery [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.