The global tool holders market to grow with a year on year growth of 5.2% in 2022 reaching a value of about US$ 1,173.4 Mn by 2022 end. Tool holders are necessary for connecting high-speed tools such drills, taps, milling cutters to a machine in an efficient and safe manner.
It is critical in mechanised procedures that need high levels of precision. This is because they serve as a link between a tool and a machine. The tool holder used in high precision mechanised operations has an impact on product quality, machine life span, and process noise. The global business is expected to grow at a significant value CAGR of 5.4% between 2022 and 2028.
Due to increased demand from end-use applications, FMI expects North America to remain a prominent market for tool holders over the projection period. The area is expected to experience a 4.3% value CAGR in the Tool Holders industry. The global tool holders market is estimated to account for approximately 1.5% of the global market.
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Key Market Insights at a Glance:
- The demand for tool holders is anticipated to grow at a moderate pace over the forecast period.
- Asia Pacific is estimated to hold a prominent share of the global tool holders market.
- Initiatives by regional governments are likely to encourage the movement of low-cost manufacturing towards parts of South-East Asia, thereby creating healthy growth prospects create healthy growth opportunities in Asia Pacific region.
- China will remain the largest consumer of machine tools, followed by U.S.
- The tool holders market is consolidated with Tier-1 players accounting for significant shares.
- The top three players of the market are estimated to account for more than a 50% market share.
- On the basis of types of tool holder, hydraulic tool holders segment is slated to remain a high value – high growth segment.
- In terms of end-use, general machining and fabrication and the automotive industries are likely to push maximum revenue into the tool holders market. The two end-use industries are estimated to collectively account for around 47% value share in the global tool holders market.
- BT Flange Taper will remain the most preferred taper type among CNCers, in terms of volume and value, given its high degree of accuracy and precision, in any high-speed machining operations.
Takeaways from Competitive Landscape Analysis
- In a moderately consolidated landscape, tier-1 companies such as Kennametal Inc., Sandvil AB, and BIG DAISHOWA Group among others hold approximately 55-65 percent market share.
- Tier-2 companies, on the other hand, hold nearly 35-45 percent market share. Such companies include Guhring, Inc., CERATIZIT GROUP, KYOCERA UNIMERCO A/S, Kemmler Precision Tools GmbH, and Haimer GmbH among others.
- Key players are projected to focus on enhancing product quality by implementing new technologies, tough and long-lasting equipment and consumables materials with added features at a competitive price.
- Top companies are also looking to target major manufacturing industries such as metal fabrication and automotive by offering high cutting accuracy with increased productivity.
Laser Cutting Technologies Could Restrict Tool Holders Sales
Laser cutting, a streamlined and precision manufacturing process, is likely to pose challenges for tool holders given its ability to not just cut materials but also apply finish to a product. Apart from lower risks of material deformation or warping, since there is no direct contact between the material and the laser cutting device, chances of incorrect markings and contamination further reduces. Although laser cutting could be technically challenging and costly, end-use industries demanding high cutting precision such as automotive, are projected to replace traditional tool cutting equipment. However, high market penetration of relatively low cost tool holders.
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Key Segments
By Taper Type:
- R8
- Morse Taper
- V-Flange Taper
- BT Flange Taper
By Tool Holders Type:
- Collet Chuck
- End Mill Holders
- Hydraulic Tool holders
By Machine Type:
- CNC Machining Centre
- CNC Turning Centre
By End Use:
- Automotive
- Aerospace & Defence
- Electronic
- General Machining & Fabrication
By Region:
- North America
- Latin America
- Europe
- South Asia Pacific
- East Asia
- Middle East and Africa
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