Hot Forging Machine Market Size, Share, Growth, and Industry Analysis, By Type (Below 10000 KN, 10000-100000 KN, Above 100000 KN), By Application (Automotive Industry, Hardware Tools, Engineering Machinery and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Hot Forging Machine Market Report Overview

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The global hot forging machine market size is USD 1286.7 million in 2022 and is projected to touch USD 1896.87 million by 2031, exhibiting a CAGR of 4.4% during the forecast period.

"A metal shaping procedure in which a malleable metal part, known as a billet or workpiece, is operated to a prespecified shape by one or perhaps more processes such as hammering, upsetting, pressing, and so on where the workpiece is heated up to about 75% of its melting temperature," is the definition of hot forging.

Starting with a cast ingot, the procedure involves heating it to the temperature at which plastic deformation occurs before forging it between dies to the required shape and size. By shrinking the ingot's size, the forging process breaks up the cast, coarse-grain structure and replaces it with finer grains. After being hot forged, the product is typically also heat treated.

COVID-19 Impact: Lockdown Shackled the Market and Affected the Manufacture

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

The sudden occurrence of the epidemic led to the initiation of critical lockdown laws in various countries, emerging the delays in importing and exporting global in-line laser hot forging machine market share. The hot forging machine market share is negatively hampered based on manufacturers, supply of raw materials and the trade restrictions imposed under the clause of lockdown. The research provides the industry and define progress for the company key players contribution during the pandemic.

LATEST TRENDS

"The Minimum Waste of Material to Attract the Consumers and Expand the Market"

Metal produced by hot forging is more durable than cast or machined metal. Therefore, hot forging technology plays a unique role in creating parts with exceptional mechanical qualities while generating the least amount of material waste. Additionally, the flow stress and energy needed to form the material are reduced as the workpiece's temperature before forging approaching the melting point. As a result, the production rate or strain rate can be raised. As a result, many hard metals, including iron and its alloys, that can be strengthened through heat treatment or have cold-working hardening qualities, are forged at high temperatures. Precipitation-hardening-capable alloys, such as the majority of titanium alloys, can also be hot forged before being hardened.

Hot Forging Machine Market Segmentation

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• By Type

Based on type, the hot forging machine market is classified into below 10000 KN, 10000-100000 KN, above 100000 KN.

Below 10000 KN type is the leading part of the type segment.

• By Application

Based on application, the hot forging machine market is classified into automotive industry, hardware tools, engineering machinery and others.

Automotive industry is the leading part of the application segment

DRIVING FACTORS

"Utilization of the Machine in Aerospace and Aviation Sector to Compel the Market Growth  "

Its benefits enable the use of hot forging for the manufacturing of near net form parts with complex shapes, such as aeronautical blades made of titanium alloy, one of the most crucial mechanical parts in the aviation sector. However, because of the blade's complex shape and the material it is made of, hot forging is a tough, three-dimensional (3D) operation, and fully enclosed hot forging makes the material flow even more complex and unpredictable. As a result, one of the key topics in this field is how to design, perform, process, and the dies of the blade while also comprehending the intricate flow laws of the material during the process.Large-scale integral components of titanium alloy with thin web and high rib, complex shapes (such as bulkhead), which can reduce equipment weight and improve structural performance, have seen increasing use in the aerospace field in recent years due to the growth of the aviation and aerospace industries.

"Its Application in the Automotive Industry to Exponentially Drive the Market Growth"

Without a doubt, one of the industries in today's economy that is expanding the fastest is the automobile or vehicle industry. The industry has been expanding at a very rapid rate because so many individuals are working hard to possess a car. Manufacturers have been attempting to increase the manufacturing of vehicle parts in response to this demand. Hot forging is one of the technologies that is frequently employed. The process of hot forging, also known as hot extrusion, is mostly employed to create automotive parts. The technology is fairly adaptable in terms of production in that a wide variety of parts may be produced using it. In fact, this technique can be used to create practically all automotive components. This inculcates the chassis parts, brake parts, crankshafts, pedal parts, gears, bearing, frame parts, clamp parts, and the kick-starters. Various other automobile parts manufactured using hot forging includes slack adjusters, shift forks, cranksets, connecting rods, camshafts and many more. 

RESTRAINING FACTORS

"Certain Dangers Inherited with the Utilization of the Machine to Repel the Market"

In the case of hot forging, ingots or billets must be heated in a high-temperature furnace, also known as the forge. A unique structure is typically needed to house the process due to the size of the large forging hammers and presses, the pieces they can create, and the inherent dangers of working with molten metal. Provisions must be made to withstand the stress and vibration caused by the hammer in drop forging operations. The majority of forging processes employ metal-forming dies, which must be thoroughly heat-treated and accurately machined in order to properly shape the workpiece and withstand the intense forces involved. The dangers associated with the utilization of the machine can restrain the hot forging machine market growth.

Hot Forging Machine Market Regional Insights

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"North American Region to Lead the Market with Potential Manufacturers and the Huge Market Share "

Major global players of hot forging machines which include the top 3 major industry players account for about the major market share. North American region is the largest market with the presence of technological development in the aviation and automotive sector. The hot forging machines also are majorly used in many fields such as construction industry, mechanical engineering, agriculture, defense industry and the steel construction, industrial and medical, military and aerospace.

KEY INDUSTRY PLAYERS

"Notable Players to contribute towards the market growth"

The top-notch players of the market share are implementing and applying varied front end and back end strategies to exceed and expand their empire.

"List of Market Players Profiled"

• Berco (Itlay)
• SMS (U.S.A)
• Sumitomo (Japan)
• Schuler (U.S.A)
• Fagor Arrasate (Spain)
• Komatsu (Japan)
• Lasco (Germany)
• Kurimoto (Japan)
• First Heavy (China)
• Stamtec (U.S.A)
• Ajax (Netherlands)
• Mitsubishi (Japan)
• Erie (U.S.A)
• Qingdao Yiyou (China)
• China National Erzhong Group (China).

REPORT COVERAGE

The report covers the information on the advancement outlooks with new inventions and SWOT analysis. The market elements situation, with the development areas of the market in the upcoming years. Market segmentation information including the subjective and quantitative research including the effect of financial and strategy viewpoints are discussed in the report. The report also disseminates the information on the regional and nation level assessment incorporating the demand and supply dominators that are affecting the development of the market. The competitive landscape including market share of major players, along with the new research methodologies and strategies adopted by players for the forecasted period is listed in the report.