A press forging machine is used in the manufacturing process of metal shaping. The process involves metal shaping with the help of comprehensive forces. Pressure is delivered to metal with power hammer or a die. A die is a tool particularly used in the manufacturing industry to shape or cut material using force. Forging is widely used in the manufacture of large components. Forging is classified according to temperature and based on application such as cold forging and hot forging. Cold working is also known as strain hardening. The process includes strengthening of a polymer or metal through plastic deformation. In hot working practice, metals are deformed above their recrystallization temperature. The power source of a press forging machine is classified into three major types: mechanical, pneumatic and hydraulic. Press forging machines are used in manufacturing parts of equipment, which demand safety and high reliability. Moreover, forged parts could vary in terms of shape, size, and application.

Increase in demand for renewable energy equipment, expansion in the automobile industry, development in infrastructure & construction industries, and automation in the manufacturing industry are the primary factors responsible boosting the press forging machinery market. In addition, press forging machines offer a final product with superior metallurgical and mechanical qualities. This is driving the global press forging machinery market. Moreover, rapid rise in the use of IoT (Internet of Things) in the forging industry is likely to propel the market. IoT offers high efficiency, improved life of tools, cost savings, real-time connectivity with the user, increased ROI, and saves time to market and inventories. Moreover, introduction of hybrid forging techniques is projected to drive the market in the near future. In addition, rise in demand for the outsourcing of forging operations is expected to augment the market in the next few years. However, lack of skilled labor and downstream support and high cost of forging machines are projected to restrain the growth of the press forging machinery market. Also, press forging is a time consuming process due to the lengthy steps involved in it. This is expected to hinder the global press forging machinery market. Nevertheless, efforts by manufacturer in collaboration with technology leaders to integrate control systems and drive mechanism are expected to create significant opportunities for the global press forging machinery market.

The global press forging machinery market can be classified based on product, application, distribution channel, and region. Based on product, the market can be segmented into closed die forging, open die forging, extrusion, and others (seamless forging, rill forging, upset forging, precision die forging, and rotary forging). In terms of application, the market can be categorized into automotive, mining, construction, aerospace & defense, agriculture, power oil & gas, and others (hardware tool and engineering machinery). Based on distribution channel, the market can be classified into online and offline (vendors and suppliers). In terms of region, the global press forging machinery market can be classified into North America (The U.S., Canada, and Mexico), Europe (Germany, the U.K., France, Italy, and Russia), Asia Pacific (China, India, Japan, South Korea, Australia, and others), Middle East & Africa (GCC and South Africa), and South America.

Major players operating in the press forging machinery market include SMS Group, Komatsu Limited, Sumitomo Corporation, TMP Press, Schuler group, Ajax CECO, AIDA, Kurimoto, Ltd., Fagor Arrasate, MITSUBISHI NAGASAKI MACHINERY MFG.CO.,LTD., LASCO Fittings, Inc., Ficep Group, Stamtec, Erie, Beckwood Press, J&H Process Co., LTD., Mecolpress S.p.A, Amada, Sumitomo Heavy Industries, Anyang Forging Press Machinery Industry, Santec Group, Bystronic, Baileigh Industrial,  Lazer Safe Ltd, Eagle Bending Machines, Salvagnini America, Jayson Machines, Lazer Safe Pty Ltd, Betenbender Manufacturing, Erie Press Systems, and Ketec Precision Tooling. With an increase in competitiveness in the market, top companies are expanding their R&D facilities to develop reliable, lightweight, durable die materials and high-strength and quality-forged metals. Also, key players are looking forward to develop improved and new technologies for forging processes.

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