The global radial forging machine market is anticipated to grow at a considerable CAGR of 7.3% during the forecast period (2023-2030). The radial forging machines market growth can be credited to the growing demand for radial forging machines from the automotive business and end-user sectors. Radial forging machines are used for manufacturing high-quality gears with exact sizes and brilliant external textures. These machines are also capable of controlling great forgings, which makes them appropriate for use in heavy manufacturing machines. In the forging process, it is problematic to achieve subordinate processes. Moreover, the capital cost is high, and material security techniques are essential to be tracked.
The increasing demand for lightweight and fuel-efficient automobiles and rising automotive manufacturing in emerging nations are anticipated to foster product demand in the future years. The rising admiration for radial forging machines amid small and medium-sized enterprises (SMEs) and the rising trend of customization in the automotive sector are likely to drive market growth during the forecasted period. Moreover, technological advancements expand the performance of radial forging machines.
The usage of titanium alloys is substantial in the manufacturing industry. This dwells a superior prominence on the processing of these alloys to attain positive metallurgical and functional features. Therefore, radial forging technology is suitable to upkeep these processing requests. Due to the exceptional abilities of the radial forging machine, the creation of contoured machinery can be skilled for the necessities of several industries comprising aerospace, energy generation, and medicine. Radial forging is an extremely creative and adaptable technology for the processing of titanium alloys and can be a fundamental fragment in the processing of gears that consume titanium alloys. For instance, in September 2019, Bharat Forge America Inc. invested $56 million in setting up a new forging and machining facility in North Carolina, US. This investment has been made by the company with the objective of focusing on investments in lightweight materials. This investment would also help the company in creating a global manufacturing footprint spanning Europe, Asia-Pacific, and the US.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- American GFM Corp., J&H CHEM, Kurimoto, Ltd., Mitsubishi Motors Corp., SMS Siemag, and others.
Radial Forging Machine Market Report Segment
By Type
- Hot Forging
- Cold Forging
By Application
- Automotive Industry
- Hardware Tools
- Engineering Machinery
- Others
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Radial Forging Machine Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Ajax
- American GFM Corp.
- Fagor Arrasate S.Coop.
- J&H CHEM
- Kanematsu KGK
- Komatsu Ltd.
- Kurimoto, Ltd.
- Lasco Medicare
- Mitsubishi Motors Corp.
- Qingdao Haoyuan Yiyou Forging Machinery Co., Ltd.
- Schuler AG
- SMS Siemag
- Stamtec Industries
- Sumitomo Corp.
- TMP
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