NEW YORK, April 27, 2021 /PRNewswire/ --
The global tooling market is expected to grow by USD 9.84 billion, progressing at a CAGR of almost 5% during 2021-2025, according to Technavio's latest market research.
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The tooling market is driven by rising industrial automation globally. In addition, the growth of the construction industry in many countries is anticipated to boost the growth of the tooling market.
The growing need to reduce the dependency on manual labor and improve productivity has led to an increase in the adoption of automation solutions across industries worldwide. The rising adoption of automation is driving the increasing need for the development of high-tech equipment with high functionality. This is increasing the demand for advanced tools to meet the complex machining needs of automated technologies. These factors coupled with increasing investments in manufacturing plants in many emerging economies is expected to fuel the growth of the global tooling market during the forecast period.
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Major Five Tooling Companies:
BIG KAISER Precision Tooling Inc.
The company offers tools such as tool holders, cutting tools, boring tools, angle heads and speed increases, and others.
CERATIZIT SA
The company manufactures tools that include rods and preforms for solid carbide tools as well as carbide components for various applications.
FRAISA SA
The company offers a wide range of tools such as NX face-finishing milling cutter, High-feed cutting in hardened steels with XFeed-H, AX high-performance milling cutters, and others.
Guhring Inc.
The company offers a wide range of tools such as cutting tools, custom tools, grooving systems, and others.
Hanjiang Tool Corp Ltd
The company offers tools such as hobs, rolling tools, shaper cutters, scudding cutters, broaching tools, milling cutters, universal tools, and others.
Tooling Market Product Outlook (Revenue, USD Billion, 2020-2025)
Tooling Market Geography Outlook (Revenue, USD Billion, 2020-2025)
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