According to Goldstein Research, global cold forging machine market is expected to reach USD 1.44 billion by the end of 2024, growing at a CAGR of 7.0%. High accuracy, high volume and simple shapes can be obtained by using cold forging machine, thus driving the growth of the market. Global cold forging machine market segmentation has been done on the basis of product type, application and geography. The maximum utilization of raw materials and the lightweight components helps to achieve maximum cost and time benefits. Automotive industry and other manufacturing industries are towards innovation of cold forging machines as they are an integral part of the processes. Global cold forging machine market is largely dominated by Asia-Pacific region on account of infrastructure development and growing automotive industry, which major contributors of forging industry. Europe and North America being Mature regions have slower growth rate.