Servo presses have recently come into prominence for sheet metal forming operations due to their flexibility, controllability, and simplicity. Minimum energy consumption and maximum tool life are their significant characteristics, leading to considerable reductions in manufacturing costs. This article presents technological review on design and applications of servo presses. The characteristics of servo presses are described and compared to conventional and hydraulic presses. Mechanisms used in servo presses and their motion concepts are evaluated with design features. The industrial background of mechanisms is reported with typical examples from leading press manufacturers. A new classification of the servo presses is presented according to mechanisms and drivers. Besides, ranking of press types according to power control and mechanisms is determined. Servo presses with slider-crank mechanism design are preferred due to their distinctive characteristics.