According to Cognitive Market Research, The Global Radial Forging Machines market size is USD 0.15 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.60% from 2023 to 2030.
The demand for radial forging machines is rising due to increased usage of alloy processing as well as rising demand from SMEs.
Demand for hot forging remains higher in the radial forging machines market.
The automotive industry category held the highest radial forging machines market revenue share in 2023.
Asia Pacific will continue to lead, whereas the North American radial forging machines market will experience the strongest growth until 2030.
