ID: MRFR/IA - E/7180-CR | December 2019 | Region: Global | 109 pages
Global Dies, Jigs and other Tools Market in terms of value is estimated to register 9.83% CAGR during the Forecast Period.
The Global Dies, Jigs and other Tools Market is expected to witness rapid growth during the forecast period. Asia-Pacific is expected to dominate the dies, jigs and other tools market owing to the presence of China, India, and Japan. The major key factors which intend to establish manufacturing facilities for automotive components and industrial components in the region are increase in sales of vehicles, low labor cost, growing economy, and continuous increase in ease of doing business.
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 major market players in the region are the factors 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, 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.
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, jigs and fixtures, stamping, 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.
On the basis of region, the Global Dies, Jigs and other Tools Market is segmented into Asia-Pacific, North America, Western Europe, Eastern Europe, South America, and the Middle East and Africa.
Global Dies, Jigs and Other Tools Market, by Region, 2018
Source: MRFR Analysis
Western Europe is expected to witness an excellent growth in the dies, jigs, and other tools market. The region is home to one of the largest manufacturing industries for machine tools, automotive, electronics, consumer products, and others, globally, an increase in the adoption of advanced technology and an increase in import and export activities is expected to provide a boost to the growth of the market.
Germany is one of the major producers of dies, jigs and other tools in Western Europe. Growing construction, manufacturing, and automotive industries, time effectiveness, improved efficiency, and precision and accuracy provided across metalworking industries, including automobile and manufacturing industries are expected to drive the dies, jigs, and other tools market in the country during the forecast period.
The Global Dies, Jigs and other Tools Market has been segmented on the basis of type, application, and region. On the basis type, the global dies, jigs and other tools market is segmented into stamping, jigs, and fixtures, dies and other tools. The stamping type segment is expected to dominate the market, due to quick and cost-effective solutions for metal processing offered by the stamping tools.
The Key Players of the Global Dies, Jigs and other Tools Market are Kennametal Inc. (US), Rotometrics (US), ALLMATIC-Jakob Spannsysteme GmbH (Germany), MISUMI Group Inc. (Japan), Meusburger Georg GmbH & Co KG (Austria), Midway Rotary Die Solutions (US), Tipco Punch Inc. (US), Sterling Industrial Products (India), Dies Plus (US), and AWEBA Werkzeugbau GmbH (Germany).
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The growth rate expected to be attained by the market in the near future is 9.83%.
The market for Dies, Jigs and other Tools can note rapid growth by 2025, thanks to surging economy, low labor cost as well as the surge in the ease of doing business across the world.
The listed players in the market are Midway Rotary Die Solutions (US), MISUMI Group Inc. (Japan), Dies Plus (US), Meusburger Georg GmbH & Co KG (Austria), Sterling Industrial Products (India), Kennametal Inc. (US), ALLMATIC-Jakob Spannsysteme GmbH (Germany), Tipco Punch Inc. (US), Rotometrics (US), AWEBA Werkzeugbau GmbH (Germany), and others.
Mounting number of construction and infrastructure improvement projects in North America can give rise to growth opportunities for the players in the global market.
The automobile segment, among all the applications, secured the leading position in the year 2020.
With respect to the type, the dies, jigs and other tools market has been considered for jigs, fixtures and dies, stamping, as well as other tools.
North America, Asia Pacific, Eastern Europe, Western Europe, the Middle East and Africa and South America are the primary regions across which the market is projected to expand in the coming years.