VALLEY COTTAGE, New York, January 15, 2019 /PRNewswire/ --
Tool holders are devices which act as an interchangeable interface between a cutting tool and machine tool spindle in such a way that the efficiency of either element does not get diminished. Tool holders provide a secured way of mounting tools on machines. Furthermore, the global market for Tool Holders is expected to witness significant growth in 2018. The market will reach a value of US$ 971.6 Mn while growing at a Y-o-Y growth rate of 4.3% as compared to 2017. Furthermore, the global demand for Tool Holders will also be influenced by growing automotive production and construction activities over the next few years.
The emergence of new manufacturing centres in the region is one of the key drivers for the market. The demand growth in the region is being led by the robust increase in manufacturing and industrial output in countries, such as India and China. China, especially, is expected to register robust growth, driven by country's rapidly expanding manufacturing base and increasing investments in high-performance cutting tools.
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European machine tool builders' investment strategies abroad vary from strategic alliances and joint ventures to acquisition of foreign companies and opening of production facilities in third-world countries. Increasing investments by global car manufacturers in emerging countries, such as India, China and Brazil, and large publicly funded energy and infrastructure projects in these countries make them attractive to European machine tool builders.
Growing R&D activities by leading manufacturers of tool holders are estimated to create several growth opportunities in the tool holders market in the coming future. Furthermore, owing to the fact that automation indirectly impacts the manufacturing market, developments in advanced tool holders are expected to surge in the coming decade.
Based on taper type, the BT flange taper segment is expected to remain dominant in terms of market value share and will account for a share of around 30% by the end of 2028 in the global tool holders market. However, the HSK segment is expected to be the most attractive segment and is also expected to grow at a healthy pace during the forecast period in the global tool holders market.
Preview Analysis On Tool Holders Market: Increasing Usage of Tool Holders for Manufacturing Upright Products to Escalate Demand: Global Industry Analysis 2013 - 2017 & Opportunity Assessment 2018 - 2028: https://www.futuremarketinsights.com/reports/tool-holders-market
Based on tool holders type, the collect chuck segment is expected to remain the dominant segment in the global tool holders market and will account for more than 32% of the revenue by 2028 end. Moreover, the hydraulic tool holders segment is projected to witness higher CAGR growth during the forecast period. On the other hand, automotive and general machining & fabrication segments are estimated to collectively account for around 47% value share in the global tool holders market by the end of 2018 owing to growing manufacturing centres and hubs across Asia Pacific region.
In 2017, North America was the most attractive region in the global tool holders market and accounted for nearly 24% share in the global tool holders market. Furthermore, China, followed by SEA and other APAC, is estimated to register substantial growth in the global tool holders market during the forecast period.
Sandvik AB, Kennametal, Guhring, Inc, CERATIZIT S.A., KYOCERA UNIMERCO, Kemmler Präzisionswerkzeuge GmbH, Haimer GmbH, Collis Toolholder Corp., Ingersoll Cutting Tool Company, T.M. Smith Tool, F L Tool Holders, BIG KAISER among others are some of the key players involved in the manufacturing of tool holders in the global market.
In terms of market value, the global Tool Holders market is expected to register 5.1% CAGR and create absolute $ opportunity worth US$ 632.9 Mn during the forecast period. China is projected to remain one of the most prominent market, expanding at a CAGR of 7.0 % over the forecast period.
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SOURCE Future Market Insights