The market is anticipated to grow by 5.2% annually starting in 2022 and reach a value of US$ 1948.07 Million by 2032. Tool Holders Market are required to safely and effectively connect high-speed tools, such as drills, taps, and milling cutters to a machine.
The market for tool holders in Western Europe has grown rapidly thanks in large part to Germany, the world’s top manufacturer of machine tools. It is anticipated that it will continue to be one of the fastest-growing markets for Tool Holders in Europe.
In terms of production, consumption, and market share of machine tools, Germany comes in third place globally. The German market is anticipated to dominate the Western European tool holders throughout the entire forecast period (2028).
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According to Future Market Insights (FMI), which has published a market intelligence research, the demand for tool holders will increase steadily between 2022 and 2028, particularly as a result of the automotive, defence, and aerospace sectors.
It is critical in mechanised procedures that require 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.
Despite the fact that China is projected to make significant investments in high performance cutting tools given the region’s strong manufacturing and industrial output, emerging nations, particularly those in the manufacturing sector, will still account for the majority of the demand for tool holders. The favourable environment, policies, infrastructure, and initiatives being taken to promote business, particularly the manufacturing sector, in other developing nations like the Philippines and Bangladesh will have a positive impact on the tool holders market and present enormous opportunities for investors.
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.
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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.
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
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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