Enjoy complimentary customisation on priority with our Enterprise License!
The forging presses market size is forecast to increase by USD 313.8 million at a CAGR of 3.2% between 2023 and 2028. The market is experiencing significant growth due to the benefits of forging over casting, which include superior mechanical properties, improved dimensional accuracy, and reduced material wastage. Another trend driving market growth is the introduction of hybrid forging techniques, which combine the advantages of forging and other manufacturing processes, such as rolling and extrusion. However, the lack of skilled labor in the manufacturing sector poses a challenge to market growth, as forging requires a high level of expertise and precision. To mitigate this challenge, companies are investing in training programs and automation technologies to increase efficiency and productivity. Overall, the market is expected to continue its growth trajectory, driven by these trends and the increasing demand for high-strength and lightweight components in various industries.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.