Global Standard Parts for Tool Making Market Revenue to Surpass US$ 6 Billion by 2032, Forecasts Fact.MR

NEW YORK, Feb. 23, 2022 /PRNewswire/ -- The global standard parts for tool making market is estimated to reach a valuation of US$ 3.7 Bn in 2022, and is likely to expand at a CAGR of 5% by value over the assessment period of 2022 to 2032.

The global standard parts for tool making market holds ~1% market share in the global equipment tools market.  According to a Fact.MR report, the automotive and aerospace & defense industry's constant demand for standard parts for tool makings underlies the standard parts for tool making market's consistent expansion.

However, manufacturers in the standard parts for tool making market repeatedly propose new B2C & D2C business models that supply enhanced service offerings to consumers to satisfy demand from end-use industries and increase stabilized sales through the type of supply network.

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The global standard parts for tool making market is expected to be triggered by demand from the automotive industry for various industrial activities during the forecast period. For many industries, the constant goal is to increase output by devising methods to boost productivity. The wide range of cutting tool insert embeds that is now available has significantly reduced production time while maintaining the product's quality.

Key Takeaways: 

• North American standard parts for tool making market holds the 2^nd largest market share.
• South Asia & Oceania standard parts for tool making market captures around 1/5th global revenue share.
• Punches & dies hold more than 2/5th market share and are projected to rise at the CAGR of 4.8%.
• Stamping is largely adopted by different end-use industries, acquiring more than 55.0% market share.
• Japanese market is estimated to increase with 5.4% CAGR. 
• Automotive and Aerospace & Defense are projected to increase at a CAGR of 6.4% and 5.8% respectively.

Growth Drivers: 

• Government initiatives across the countries are driving the annual production volumes.
• As awareness about the availability of these apparatuses increases, the automotive industry is propelling demand in order to offer high-accuracy items.
• The increasing demand for CNG-based vehicles is creating tremendous demand.

Key Restraints: 

• In the post COVID era, the manufacturers are picking up pace slowly. This will turn out as a major restraint. 

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Competitive Landscape

Prominent players in the standard parts for tool making market are focusing on offering various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships. 

• In 2020, Doosan Machine Tools have launched MP 6500 series product with a high precision vertical machining center for mold machining. The features of this machine include enhanced stability and spindle rigidity to boost user improved quality and convenience.

Key Companies Profiled by Fact.MR 

• MISUMI Group
• Barnes Group
• Erwin Halder
• Meusburger Georg
• Lapple
• Hong Yue Mold Fittings
• Nitrogas
• DADCO
• Shenzhen QH Industrial
• Strack Norma GmbH
• Changsha Borun Mould

More valuable Insights on Standard Parts for Tool Making Market 

Fact.MR, in its report, offers a market analysis of the global Standard Parts for Tool Making market analyzing the forecast period through 2022 and beyond. This survey reveals the growth of technology in the Standard Parts for Tool Making Market with detailed segmentation as follows: - 

• By Component Type
• Guide Pillars
• Bushes & Cages
• Die & Gas Springs
• Punches & Dies
• Pillar & Bush Blocks
• Dowel Pins (Set of 100)
• Steel Plates
• Others (Set of 100)
• By Application
• Stamping
• Forming
• Bending
• Punching
• Die-Casting
• By End-Use Industry
• Automotive
• Industrial Engineering and Equipment
• Consumer Goods
• Aerospace & Defense
• Others
• By Sales Channel
• Direct Sales
• Retail Sales
• Online Sales 
• By Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Key Questions covered in the Standard Parts for Tool Making Market Report 

• What is the global Standard Parts for Tool Making Market scenario?
• How far is the global demand expected to reach over the forecasted period?
• What was the last 5-year CAGR for the demand in the demand in the Standard Parts for Tool Making Market?
• Who are the prominent players in the global Standard Parts for Tool Making Market?
• Which is the leading region in the Standard Parts for Tool Making Market?

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SOURCE Fact.MR