Pune, India, December 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Dies, Jigs and other Tools Market.
The Global Dies, Jigs and other Tools Market is expected to be valued at USD 108,566.2 Million by 2025, with a CAGR of 9.83% during the forecast period (2019–2025).
The report covers segmentation and drivers for a better glimpse of the market in the coming years. The equipment that aid in the conversion of raw materials into a required shape is commonly referred to as dies and molds. These tools are used to cut, shape, and form precision components in various manufacturing industries such as automobiles, metalworking, electronics, and plastics manufacturing. These tools increase the manufacturing output capacity, raise the quality standard of a product produced, enhance the price competitiveness of the product produced, and reduce the lifecycle cost of a product.
Some of the prominent players in the Global Dies, Jigs and other Tools Market are Midway Rotary Die Solutions (US), Tipco Punch Inc. (US), Sterling Industrial Products (India), Dies Plus (US), AWEBA Werkzeugbau GmbH (Germany), Kennametal Inc. (US), Rotometrics (US), ALLMATIC-Jakob Spannsysteme GmbH (Germany), MISUMI Group Inc. (Japan), and Meusburger Georg GmbH & Co KG (Austria).
Kennametal Inc. focuses on enhancing its product portfolio and on-ground distributor network. It intends to develop strategic sourcing and further simplifying its product portfolio to meet the customer demand for cost-effective industrial equipment. The company strategizes to invest in the development and improvement of its sales and distribution channel strategies to strengthen its product distribution and supply network to enhance its value chain. Furthermore, it also focuses on formulating long-term investment strategies with its clients and raw material suppliers to minimize the risk of fluctuations in raw material prices.
ALLMATIC-Jakob Spannsysteme GmbH focuses on strengthening its global footprint and expanding its loyal customer base in the global market. It aims to form strategic collaborations and sign partnership agreements with raw material providers to ensure an uninterrupted supply chain and to minimize the risk associated with fluctuating raw material prices. The company aims to be recognized as a technological leader in the global market for machine vices by 2030. It invests in the development of innovative product manufacturing processes to enhance manufacturing capabilities for economical industrial clamping systems. Additionally, the company invests in strengthening its manufacturing technologies to offer customized machines with quicker delivery times for the aftermarket.
The Global Dies, Jigs and other Tools Market is segmented based on type and application. On the basis of type the global dies, jigs and other tools market is segmented into dies, stamping, jigs and fixtures, and other tools. The stamping segment held the largest market share in 2018 as these tools offer quick and cost-effective solutions for metal processing. Stamping, is also known as a pressing tool, is used to convert flat metal sheets into specific shapes using metal forming techniques including blanking, punching, bending, and piercing.
On the basis of application, the global dies, jigs and other tools market is segmented into automobile, metalworking, electronics, plastics manufacturing, and others. The automobile segment held the largest market share in 2018. An increase in the production of vehicles and growing automotive parts industry are expected to enhance the demand for dies, jigs, and other tools in the automobile industry. Moreover, the increased production of parts and vehicles increase the need to ensure high productivity and maximum uptime, which further fuels the demand for the dies, jigs, and other tools in automotive applications.
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Geographic analysis of the global dies, jigs and other tools market spans across Asia-Pacific, North America, Western Europe, Eastern Europe, South America, and the Middle East and Africa.
In 2018, Asia-Pacific was the leading market with a value of USD 23,437.3 Million. The value is expected to reach USD 50,882.9 Million by 2025 with an impressive 11.82% CAGR during the forecast period.
Asia-Pacific is one of the prominent markets in the global dies, jigs and other tools market owing to the presence of India, Japan, and China. An increase in sales of vehicles, low labor costs, a growing economy, and a continuous increase in ease of doing business are the factors why several major manufacturing companies are intending to establish manufacturing facilities for automotive components and industrial components in the region. Moreover, the region is home to one of the largest manufacturing industries for machine tools, automotive, electronics, consumer products, and others, globally.
In 2018, North America held the second-largest market share in the global dies, jigs and other tools market. mainly due to the growing investments in the automotive, aviation, and food processing and packaging industries and the presence of key market players are the factors that are driving the demand for dies, jigs, and other tools in North America The automotive industry is expecting to gain significant investment inflows by several major OEMs due to the rising demand for passenger cars. Furthermore, growing investments in the development of jigs and fixtures, an increase in end-use industries, and the increasing number of construction and infrastructure development projects in North America are expected to drive the demand for dies, jigs, and other tools market in this region during the forecast period. In 2018, the regional market was valued at USD 13,472.2 Million, which is expected to reach USD 22,740.9 Million by 2025 with a 7.87% CAGR during the forecast period.
The dies, jigs and other tools market in Western Europe is expected to grow at a fast pace during the forecast period, mainly due to the increase in adoption of advanced technology and an increase in import and export activities in the region. Moreover, increasing the renovation of existing infrastructure is expected to provide a boost to the growth of the market. The UK, Germany, France, and Spain are the major contributors to the growth of the dies, jigs and other tools market in Europe. The regional dies, jigs and other tools market is expected to be valued at USD 16,697.0 Million by 2025 at a CAGR of 6.74% during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.