Tool Holder Market Summary
As per MRFR Analysis, the Global Tool Holder Market was valued at USD 3 Billion in 2023 and is projected to grow to USD 4.5 Billion by 2032, with a CAGR of 4.52% from 2024 to 2032. The market is driven by rising urbanization and industrialization in emerging nations, increasing demand in the automotive, aerospace, and defense sectors, and the growing healthcare industry. The North America region dominated the market in 2022, accounting for 45.80% of the share, with significant contributions from the U.S. and Canada. Key players are focusing on R&D and strategic partnerships to enhance their market presence.
Key Market Trends & Highlights
The Tool Holder market is witnessing significant growth driven by various factors.
- Market Size in 2023: USD 3 Billion.
- Projected Market Size by 2032: USD 4.5 Billion.
- CAGR from 2024 to 2032: 4.52%.
- North America held 45.80% market share in 2022.
Market Size & Forecast
2023 Market Size: USD 3 Billion
2024 Market Size: USD 3.16 Billion
2032 Market Size: USD 4.5 Billion
CAGR (2024-2032): 4.52%
Largest Regional Market Share in 2022: North America.
Major Players
Key players include Sandvik AB, BIG KAISER Precision Tooling Inc., Guhring Inc, Collis Toolholder Corp, Kyocera Unimerco Tooling A/S, Kennametal Inc, Ingersoll Cutting Tool Company, Schunk GmbH & Co KG, Haimer GmbH, and Ceratizit S.A.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tool Holder Market Trends
Rise in adoption of tool holders in various end users is driving the market growth
The increased use of tool holders across a range of end users, including the automotive, aerospace, defence, and other industries, is driving the growth of the tool holder market. More people are anticipated to reside in urban areas by the year 2050, which would result in a rise in the need for tool holders in the aerospace and automotive sectors. As infrastructure projects take up in developing countries like Brazil, India, and others, the need for tool holders is predicted to rise, which will support the market's growth.
The manufacturing industry uses tool holders, which are frequently employed in milling, drilling, and boring machines. The rise of urbanisation and industry in developing countries like Germany, France, the United States, and others is what is driving the need for automobiles. Because of this, the market for tool holders is expected to grow in popularity. For instance, the rate of urbanisation increased by 0.4% in the United States between 2017 and 2019.
Tool holders are now used in many different industrial sectors, such as the automotive, aerospace, and defence industries, as a result of the rise in demand for them. In several countries, including the UK, the U.S., and India, the healthcare industry is growing quickly as a result of greater government investment in this area. For instance, in 2018, the UK government spent $252.9 billion on the healthcare industry. The high efficiency, rigidity, and rpm of tool holders are expected to make them very popular.
The rise in disposable income is the primary growth driver of the global tool holder adapters market. Even though tool holders are crucial for connecting all other components to optimise machining performance, they are typically one of the last components to be evaluated during the manufacturing process. Additionally, using a high-quality tool holder with excellent taper contact, precision, and balance will improve fit, increase rigidity, and reduce vibrations, which are the main reasons of early spindle wear or failure. Vibrations are also one of the main causes of spindle failure. The tool container is available in a variety of shapes, including cylinder and conical. The tool holder is used in the milling, drilling, and boring industries.
It features a short steel bar with a shank on one end that is fixed to machine tools. Rigidity, accuracy, power, and balance are some of its qualities. Tool Holder Adapters Market expansion is primarily driven by the adoption of enhanced tool holders that preserve stiffness, accuracy, power, and balance as well as longer spindle life, superior surface polish, and accuracy of parts. The rise of urbanisation and industrialization in developing countries like Germany, France, the United States, and others is another factor driving the need for automobiles. Thus, driving the Tool Holder market revenue.
Tool Holder Market Segment Insights
Tool Holder Tool Holder Insights
The Tool Holder market segmentation, based on Tool Holder, includes Collet Chuck, Hydraulic Tool Holder, Milling Chuck, and Others. Collet chuck segment dominated the global market in 2022. An object's square shank can be tightly cinched up in a collet chuck, which is a cylindrical piece of metal with two jaws (often four). Wearing a glove or a vice-grip wouldn't be effective on round stock, which is the most typical type used in woodworking since there isn't enough surface area for them to grab onto the end when turning.
Tool Holder Product Type Insights
The Tool Holder market segmentation, based on Product Type, includes R8, V-Flange Taper, NMTB, HSK, and Others. R8 segment dominated the Tool Holder market in 2022. The rising demand for tool holders of the R7 product class explains this.
Tool Holder Machine Type Insights
The Tool Holder market segmentation, based on Machine Type, includes CNC Machining Center, CNC Turning Center, CNC Lathe, and Others. CNC Machining Center segment dominated the Tool Holder market in 2022. This may be connected to the increase in demand for tool holders.
Figure 1: Tool Holder Market, by Industry Vertical, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tool Holder Industry Vertical Insights
The Tool Holder market segmentation, based on Industry Vertical, includes Automotive, Aviation & Defense, Electrical & Electronics, Construction, Heavy Engineering, and Others. Automotive segment dominated the global market in 2022. Tool holders are essential for the auto industry. Tool holders can be used to make precise cuts when utilising drills, end mills, and milling cutters.
Tool Holder Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Tool Holder Market dominated this market in 2022 (45.80%). Due to contemporary machinery and technology, tool holders are common in the US. The expansion of the American manufacturing equipment and automotive industries, as well as an increase in defence spending, all contributed to the growth of the tool holder market. These elements will have a favourable impact on the market for tool holders. Further, the U.S. Tool Holder market held the largest market share, and the Canada Tool Holder market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: TOOL HOLDER MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Tool Holder market accounted for the healthy market share in 2022. Germany, the world's largest producer of machine tools, has significantly contributed to the growth of the Western European Tool Holders industry. In terms of production and usage on the global machine tool market, Germany is ranked third. Further, the German Tool Holder market held the largest market share, and the U.K Tool Holder market was the fastest growing market in the European region.
The Asia Pacific Tool Holder market is expected to register significant growth from 2023 to 2032. China's manufacturing base is rapidly expanding, and rising investment in more advanced cutting tools is likely to fuel the market's growth for tool holders. Moreover, China’s Tool Holder market held the largest market share, and the Indian Tool Holder market was the fastest growing market in the Asia-Pacific region.
Tool Holder Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Tool Holder market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Tool Holder Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Tool Holder Industry to benefit clients and increase the market sector. In recent years, the Tool Holder Industry has offered some of the most significant advantages to medicine. Major players in the Tool Holder market, including Sandvik AB, BIG KAISER Precision Tooling Inc., Guhring Inc, Collis Toolholder Corp, Kyocera Unimerco Tooling A/S, Kennametal Inc, Ingersoll Cutting Tool Company, Schunk GmbH & Co KG, Haimer Gmb, and Ceratizit S.A., are attempting to increase market demand by investing in research and development operations.
A high-tech engineering firm with a focus on industrial processes and material technologies is called Sandvik AB (Sandvik). The company's main goods and services include furnace products and heating systems, stainless steel and titanium, mining and rock extraction equipment, cutting tools and tooling systems, and digital manufacturing solutions. The company serves a number of industries, including nuclear power generation, oil and gas, process industry, renewable energy, mining, aerospace, automotive, construction, general engineering, and mining.
Through a network of direct sales representatives and distributors in the Americas, Europe, Africa, the Middle East, and Asia-Pacific, the corporation offers its products. The headquarters of Sandvik are in Stockholm, Sweden. The next-generation solid carbide Coro Drill 860 with PM geometry was among the cutting-edge equipment and solutions Sandvik had planned to introduce in March 2022.
For the furniture sector, Garsdalo Medienos Technologija distributes woodworking equipment. The company makes grinding machines, planers, drilling machines, mortisers, lacquering equipment, and biomass boilers in addition to drying kilns for wood. Garsdalo Medienos Technologija UAB stated that company has been acquired by Kyocera Unimerco A/S, a Kyocera Group subsidiary in charge of creating and selling industrial cutting tools. The share transfer agreement was completed on April 27, making GMT a wholly-owned subsidiary of KUA. Through this acquisition, KUA wants to grow its Northern European-based woodworking tool business and roughly treble its sales in this sector by FY2020.
Key Companies in the Tool Holder market include
Tool Holder Industry Developments
July 2021: The premium solid round tool manufacturer Chuzhou Yongpu Carbide Tools Co., Ltd. had previously been bought by Sandvik. A contract has been inked by Sandvik to buy 67% of China-based premium solid round tools manufacturer Chuzhou Yongpu Carbide Tools Co., Ltd.
Tool Holder Market Segment
Tool Holder Outlook
- Collet Chuck
- Hydraulic Tool Holder
- Milling Chuck
- Others
Tool Holder Product Type Outlook
- R8
- V-Flange Taper
- NMTB
- HSK
- Others
Tool Holder Machine Type Outlook
- CNC Machining Center
- CNC Turning Center
- CNC Lathe
- Others
Tool Holder Industry Vertical Outlook
- Automotive
- Aviation & Defense
- Electrical & Electronics
- Construction
- Heavy Engineering
- Others
Tool Holder Regional Outlook
- North America
- US
- Canada
- EuropeGermany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 3 Billion |
| Market Size 2024 |
USD 3.16 Billion |
| Market Size 2032 |
USD 4.5 Billion |
| Compound Annual Growth Rate (CAGR) |
4.52% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Tool Holder, Product Type, Machine Type, Industry Vertical, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Sandvik AB, BIG KAISER Precision Tooling Inc., Guhring Inc, Collis Toolholder Corp, Kyocera Unimerco Tooling A/S, Kennametal Inc, Ingersoll Cutting Tool Company, Schunk GmbH & Co KG, Haimer Gmb, and Ceratizit S.A. |
| Key Market Opportunities |
Growth in the machinery & equipment manufacturing sector |
| Key Market Dynamics |
An increase in urbanization and industrialization in emerging countries and the rise in demand for tool holders |
Frequently Asked Questions (FAQ) :
The global Tool Holder market size was valued at USD 3 Billion in 2023.
The global market is projected to grow at a CAGR of 4.52% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Sandvik AB, BIG KAISER Precision Tooling Inc., Guhring Inc, Collis Toolholder Corp, Kyocera Unimerco Tooling A/S, Kennametal Inc, Ingersoll Cutting Tool Company, Schunk GmbH & Co KG, Haimer Gmb, and Ceratizit S.A.
The Collet Chuck Tool Holder dominated the market in 2022.
The R8 Product Type had the largest share in the global market.
