Closed Die Forging Holds Huge Potential to Produce Low-Cost Industrial Parts. The Asia Pacific to Witness the Highest Growth
Global Closed Die Forging Market is expected to exceed the market valuation of more than US$ XX billion by 2027 expanding at a reasonable CAGR of around XX% during the forecast period (2021-2027). A forging press uses vertical ram to apply gradual pressure to a die holding workpiece. This process uses slow pressure instead of a series of blows like in drop forging. The slow movement of ram allows it to penetrate deeper into the workpiece which causes a more uniform deformation. In the closed die method (also known as impression die forging) the die surrounds the workpiece. A forging press either uses hydraulic or mechanical force. Most metals can be die forged using these forging presses, however, some metals are more adaptable to the process than other depending on different physical parameters. The strengths, endurance and weight of different metals vary and thus the heating temperatures to forge them varies. For example, steel needs to be heated to 1200 C/2200 F to be press forged while metals like nickel, cobalt, molybdenum, among others can also be press forged at much higher temperature.
Key factors driving the growth of the closed die forging press market include its technological advancements as well the industrialization of developing countries which is driving the market growth. Additionally, in the long term closed die forging press is the cheapest forging technique available till date. A few drawbacks of this machinery include its high initial establishing cost and bad environmental conditions during its working which can be harmful for the employees.
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The covid-19 pandemic had some form of an impact in all industries. The Closed Die Forging sector was also significantly affected by the pandemic. The recent covid-19 pandemic in 2019 took the world by a storm. The pandemic brought the world to a standstill. All industries have suffered some form of loss due to the pandemic. In addition to this the pandemic has also cost many lives. Till date there have been 177,470,620 covid-19 cases in the world and 3,839,931 deaths. Most nations around the world were affected by the pandemic which not only took lives but also took away jobs. The pandemic caused a huge economic burden all around the world with most industries bearing some form of loss. The Global Closed Die Forging industry also saw a slowdown during the pandemic as the industries were shut and production of affected.
Based on type, the closed die forging press market is segmented into <10,000 KN, 10,000-1,00,000 KN and >1,00,000 KN. The amount of force being applied depends on the metal being used and the type of hammer being used to shape it. Formula for finding the force, F is F = k*Yf*A, where k is the multiplying factor. The forging pressure of most metals’ ranges from 550 to 1000 Mpa. The mechanical press has the forging force of 2700-107000 KN (2.7-107 MN), the hydraulic presses have the force of 450000 KN (450 MN) and the friction screw presses have the forging force of 1400 to 280000 MN (1.4 to 280 KN).
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Based on application the closed die forging press market is segmented into Automotive Industry, Hardware Tools, Engineering Machinery, and Others. Closed die forging press can shape steel, aluminum, steel, titanium, and many other metal alloys. Using this technique many 3-D shapes can be produced. These are immensely used in the Automotive industry to shape certain automobile components & parts such crank shaft, connecting rods, cam shaft and others. Further, with the help of closed die forging press, high quality components can be manufactured at a relatively reasonable cost.
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Additionally, the report provides detailed initiatives that are being taken in the field of Closed Die Forging, globally. The report provides a detailed analysis of regions including North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Spain, Italy, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and the Rest of the World. Asia Pacific dominated the market in 2020, with XX% share. SMS, Schuler, Mitsubishi, Beckwood, Ajax, Canada Forgings Inc., Lasco, Macrodyne Technologies, Komatsu, and J&H are some of the prominent players operating in the Closed Die Forging market. Several M&As along with partnerships have been undertaken by these players to make Closed Die Forging as cost-effective and as widely available as possible.
Closed Die Forging Market Segmentation
Market Insight, by Type
- 10000 KN
- 10000-100000 KN
- Above 100000 KN
Market Insight, by Application
- Hardware Tools
- Engineering Machinery
- Automotive Industry
Market Insight, by Region
- North America Closed Die Forging Market
- United States
- Rest of North America
- Europe Closed Die Forging Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Closed Die Forging Market
- Rest of Asia-Pacific
- Rest of World Closed Die Forging Market
Top Company Profiles
- Canada Forgings Inc.
- Macrodyne Technologies