Improving the forming efficiency at a reasonable cost has been the main challenge in the electromagnetic forming technology. Towards this aim, this paper proposes a simultaneous cost-effective double-sheet electromagnetic forming method using single driving coil. In order to highlight the features of the proposed technique, comparison of the performance of five electromagnetic forming models is presented. These models include a no-sheet model, single-sheet stationary model, single-sheet moving model, double-sheet stationary model and double-sheet moving model. For each model, electromagnetic force distribution and forming efficiency of the workpiece are analyzed. Furthermore, the influence of the pulse current width of the driving coil on the electromagnetic forming efficiency of the plate is investigated for all models. Results show that for the same system discharge parameters, electromagnetic forming efficiency of double-sheet is 21.14% whereas the single-sheet electromagnetic forming model only achieves 14.68% efficiency. Thus, the double-sheet electromagnetic forming technology can improve the low forming efficiency of a single-sheet electromagnetic forming method and at the same time, the method can form two workpieces simultaneously which makes it more cost effective than the single-sheet method.