Electromagnetic forming (EMF) is a non-contact forming technique. It is an impulse or high-velocity forming method using pulsed magnetic field by application of Lorentz' forces to the work piece preferably made of highly electrically conductive material without having working medium and mechanical contact. Therefore, hollow profiles can be compressed or expanded as well as 2D or 3D sheet metal can be shaped, joined or cut. Electromagnetic forming process has very high strain rate and velocity in comparison to conventional process. Therefore, the Forming limits can be extended for several materials. In this paper, the state of the art of electromagnetic forming is reviewed subjected to following aspects-Research work on parameters related to acting load, Work piece deformation, Interaction between load parameters and work piece deformation, Behaviour of materials, Energy interaction during the process and Research regarding the principle and application of electromagnetic forming. On the basis of this study it is proposed why electromagnetic forming has not been widely initiated in industrial manufacturing processes up to now and how the challenges for its widespread applications can be meet.