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.
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.
Based on type, the closed die forging press market is segmented into 10,000 KN, 10,000-1,00,000 KN and above 1,00,000 KN. The 10,000-1,00,000 KN segment accounted XX million revenues in 2020. The 10,000 KN segment is expected to grow at a CAGR of XX% during the forecast period to reach XX million revenues by 2027.
Based on application the closed die forging press market is segmented into Automotive Industry, Hardware Tools, Engineering Machinery, and Others. The automotive segment grabbed XX% market share of the Closed Die Forging Press Market with the revenue of US$ XX million in 2020.
For a better understanding of the market adoption of Closed Die Forging Press, the market is analysed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the market share of XX% for the industry with the revenue of US$ XX million in 2020 because of the growing industrial advancements in the region.
Some of the major players operating in the market include SMS, Schuler, Mitsubishi, Beckwood, Ajax, Canada Forgings Inc., Lasco, Macrodyne Technologies, Komatsu, and J&H. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
Closed Die Forging Press Market stood with US$ XX million revenues in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F. Closed Die Forging Press Market is expected to witness a boost on account of the increasing demand for faster, cheaper, and more efficient ways of developing industrial parts.