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Radial Forging Machine Market Size 2024: Global Share, Industry And Report Analysis By 2031 | Magna International Inc. Motherson Group Saint-Gobain Sekurit/ Saint Gobain

10-10-2024 12:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: orion market research

Radial Forging Machine Market

Radial Forging Machine Market

Radial forging machines market size was valued at $160 million in 2022, and is projected to reach $262 million by 2030, registering a CAGR of 7.3% during the forecast period (2023-2030). The market growth can be attributed to the increasing demand for radial forging machines from the automotive industry and other end-user industries. Radial forging machines are used for producing high-quality components with precise dimensions and excellent surface finish. These machines are also capable of handling large forgings, which makes them suitable for use in heavy engineering applications. The continuously increasing demands in view of better material properties especially in superalloys and high alloyed steel grades lead to improved radial forging systems. Reduced equipment costs, higher reliability, and flexibility have been the main targets for further development.

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Among the application, the automotive industry sub-segment is anticipated to hold a prominent share of the global radial forging machine market. Radial forging machines are widely used in the automotive industry as they offer high production speeds, improved accuracy, better surface finish, and greater versatility than bar or needle-type forged parts. The automotive sector is expected to witness significant growth owing to increasing demand for vehicles from countries such as India, China-Japan, and Germany among others.

full report of Radial Forging Machine Market available @ https://www.omrglobal.com/industry-reports/radial-forging-machines-market

• Market Coverage
• Market number available for - 2024-2031
• Base year- 2024
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global Radial Forging Machine Market Report Segment
By Type
• Hot Forging
• Cold Forging

By Application
• Automotive Industry
• Hardware Tools
• Engineering Machinery
• Others

Global Radial Forging Machine Market Report Segment by Region
• North America
o United States
o Canada
• Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East & Africa

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global machine market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

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