USD 9.84 Bn growth opportunity in Tooling Market -- APAC to have the largest market share

NEW YORK, Aug. 9, 2022 /PRNewswire/ -- The tooling market size is expected to increase by USD 9.84 billion between 2020 and 2025, according to the latest research report by Technavio. The market observed a YOY growth of 4.16% in 2021 and the growth momentum is expected to accelerate at a CAGR of 5% during the forecast period. The report identifies APAC as the key market for tooling products. The thriving construction industry and increasing government spending on infrastructure development are creating significant opportunities for vendors to grow in the region. Download Sample PDF Report Here

Key points covered in the tooling market study:

• Market estimates and forecast 2020-2025
• Key drivers, trends, and challenges impacting market growth
• Segment-wise, region-wise, and country-wide analysis
• Analysis of market share by vendors
• Key product launches and regulatory climate
• Post-COVID-19 impact on the market landscape.

The 120-page report segments the global tooling market by product (milling tools, drills, stationary tool inserts, turning tools, and others) and geography (APAC, North America, Europe, South America, and MEA).

Tooling Market Product Outlook (Revenue, USD Billion, 2020-2025)

• Milling tools - size and forecast 2020-2025
• Drills - size and forecast 2020-2025
• Stationary tool inserts - size and forecast 2020-2025
• Turning tools - size and forecast 2020-2025
• Others - size and forecast 2020-2025

The market observed maximum demand for milling tools from end-users. The segment is driven by the strong growth of end-user industries such as automotive, energy, and aerospace. The need for high-precision metal tools has increased the consumption of milling tools in the segment. The market growth in the segment will be significant during the forecast period.

Tooling Market Geography Outlook (Revenue, USD Billion, 2020-2025)

• APAC - size and forecast 2020-2025
• North America - size and forecast 2020-2025
• Europe - size and forecast 2020-2025
• South America - size and forecast 2020-2025
• MEA - size and forecast 2020-2025

APAC will account for 56% of the overall market growth during the forecast period. The increase in the demand for passenger and commercial vehicles and investments by global OEMs to set up manufacturing plants in the APAC countries are driving the growth of the regional market. China, Japan, and South Korea (Republic of Korea) will emerge as key markets for tooling in APAC.

The market is mainly driven by rising industrial automation globally. The rise in labor costs and the growing shortage of labor has forced many industrial operators to invest in automation technologies. This has spurred the demand for advanced tools to meet the complex machining needs of automated technologies. In addition, many emerging economies are working on creating a favorable environment for the manufacturing sector to increase their net exports. All these factors are expected to foster the growth of the global tooling market during the forecast period. View Sample Report PDF Now

Vendor Landscape:

The market is fragmented and comprises well-established players that are involved in the design and manufacturing of tools for end-users across a wide range of industries. These vendors are making high investments in R&D to push better products into the market and expand their customer base. They are also strengthening their position with the help of mergers, acquisitions, and strategic partnerships. As the market growth over the next five years is expected to remain slow, the landscape will remain competitive. Technavio identifies the following as dominant players in the global tooling market.

• BIG KAISER Precision Tooling Inc. 
• CERATIZIT SA
• FRAISA SA
• Guhring Inc.
• Hanjiang Tool Corp Ltd
• ISCAR Ltd.
• Jiangsu Feida Tools
• Kennametal Inc.
• KYOCERA Precision Tools
• Sandvik AB

Recent product launches/mergers and acquisitions:

• In September 2020, Kennametal Inc. announced its partnership with TITANS of CNC on its Aerospace Academy, an online education platform designed to teach programmers and machinists next-generation aerospace machining and manufacturing.
• In February 2021, KYOCERA Precision Tools launched high precision and high-efficiency high rake cutter, MFSE45, which delivers high-quality surfaces by roughing and finishing

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here

Related Reports:

• Cutting Tool Inserts Market by Type, Application, and Geography - Forecast and Analysis 2021-2025
• CNC Machine Tools Market by Product and Geography - Forecast and Analysis 2021-2025

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Milling tools - Market size and forecast 2020-2025
• Drills - Market size and forecast 2020-2025
• Stationary tool inserts - Market size and forecast 2020-2025
• Turning tools - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by Product

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• BIG KAISER Precision Tooling Inc. 
• CERATIZIT SA
• FRAISA SA
• Guhring Inc.
• Hanjiang Tool Corp Ltd
• ISCAR Ltd.
• Jiangsu Feida Tools
• Kennametal Inc.
• KYOCERA Precision Tools
• Sandvik AB

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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SOURCE Technavio