The object of research is the forging line L-408 (Ukraine) for the production of workpieces for rings of railway bearings. This line is installed at Kharkiv Bearing Plant (JSC HARP, Ukraine) and consists of a KIN 750 induction heating section, a P-2038A hydraulic three-position press and a KPS 250 ring-rolling unit. Based on the results of the technical audit of the line, it is revealed that the KIN 750 is produced on an outdated hardware base and has a deliberately lower efficiency. In addition, the lack of control over power and frequency during the heating process does not make it possible to optimize the process for energy costs. Also, the presses of all six lines operate from one hydraulic pump station, which provokes its obviously inefficient operation when only part of the lines is involved. In addition, the principle of operation of the P-2038A press in the absence of a hydraulic pressure control system in the executive bodies of the press does not allow for optimal control of hydraulic pumps according to the criterion of minimum electric power consumption. In the course of the study, the finite element method is chosen as the main method of mathematical modeling of induction heating of the workpiece and forging operations. A new induction heating system has been developed and produced, which has undoubted advantages over the previously existing induction heating line, since it is made on a modern elemental base and has the ability to programmatically control power during the heating process. The press is modernized with an autonomous pump station with a capacity of 132 kW (instead of a central station with a capacity of 900 kW). The use of kinetic energy of the slider and traverse gives a radical reduction in energy consumption, especially when several or even more of the six forging lines L-408 are working. Mathematical models and numerical methods developed for modeling controlled induction heating of workpieces and volume press operations have proved their effectiveness in calculating and optimizing the design and operating parameters of the hot forging line. The effects detected by mathematical modeling are fully confirmed during field tests, and the temperatures and pressures themselves slightly differed from the measurement results.