Closed Die Forging Press Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Type (<10,000 KN, 10,000-1,00,000 KN, >1,00,000 KN); Application (Automotive Industry, Hardware Tools, Engineering Machinery, Others); Region and Country
Global Closed Die Forging Press Market is expected to exceed the market valuation of more than US$ XX billion in 2027 and is expected to grow at a significant CAGR of XX% during the forecast period (2021-2027). Closed die forging, also known as impression die forging, is a process in which dies move towards each other and cover the entire or part of the workpiece. This involves the placement of the metal between one or more custom shaped dies. The heated workpiece/ metal is then hammered or pressed, causing it to flow and be shaped by the die cavities. The world’s heaviest closed die forging press is the Chinese press of the Erzhong group in the province of Sichuan which is working since 2013 with an incredible power of 80,000 tons. This press is as tall as a 10-story building and its use is very confidential, most probably to build military aircrafts. Even though the biggest, this closed die forging press is not the most technically advanced.
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.
Forging Temperature Ranges of Different Materials, in Degree Celsius
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 Press market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Type, 10,000-1,00,000 KN segment holds the major share”
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).
“Amongst Application, Automotive Industry Segment holds the major share”
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. Additionally, the resulting parts are resistant to fatigue and impact and are also very durable and have a high strength to weight ratios.
“Asia Pacific represents one of the largest markets of Closed Die Forging Press market”
For a better understanding of the market dynamics of the Global Closed Die Forging Press market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. Asia Pacific dominated the market and grabbed around XX% market share owing to faster production rates and technological advancements.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2.||Objective of the Study|
|1.5.||Currency Used in Report|
|1.6.||Scope of the Closed Die Forging Press Market Study|
|2.1.||Research Methodology for the Closed Die Forging Press Market|
|2.1.1.||Main Objective of the Closed Die Forging Press Market|
|7.3.||Above 100000 KN|
|9.1.||NORTH AMERICA CLOSED DIE FORGING PRESS MARKET|
|9.1.1.||United States of America|
|9.1.3.||Rest of North America|
|9.2.||EUROPE CLOSED DIE FORGING PRESS MARKET|
|9.2.6.||Rest of Europe|
|9.3.||ASIA-PACIFIC CLOSED DIE FORGING PRESS MARKET|
|9.3.5.||Rest of Asia-Pacific|
|9.4.||REST OF THE WORLD CLOSED DIE FORGING PRESS MARKET|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|14.2.1.||Top Product Launches|
|14.2.2.||Top Business Partnerships|
|14.2.3.||Top Business Expansions, Investments and Divestitures|
|14.2.4.||Top Merger and Acquisitions|
|17.6.||Canada Forgings Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Closed Die Forging Press market were the three major steps undertaken to create and analyze the adoption of Closed Die Forging Press in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Global Closed Die Forging Press market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Closed Die Forging Press through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Closed Die Forging Press market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of Closed Die Forging Press in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Closed Die Forging Press. Further, we conducted factor analysis using dependent and independent variables such as technological advancements and less wastage using Closed Die Forging Press. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Closed Die Forging Press sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Closed Die Forging Press market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Closed Die Forging Press across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Closed Die Forging Press market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Global Closed Die Forging Press market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the Closed Die Forging Press market.
The main objective of the Closed Die Forging Press Market Study
The current & future market trends of Closed Die Forging Press were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Closed Die Forging Press in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and their subtypes
- Define and analysis of the regulatory framework for the Closed Die Forging Press industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Closed Die Forging Press market for the major region
- Major regions studied in the report include North America (the U.S, Canada, and Rest of North America), Europe (Germany, United Kingdom, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Others), and the Rest of the World
- Company profiles of the Closed Die Forging Press market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry