Tool Holders Market Size, Share 2032: Present Scenario and Growth Prospects
The global tool holders market to grow with a year on year growth of 5.2% in 2022 reaching a value of about US$ 1,173.4 Million by 2022 end. Tool holders are necessary for connecting high-speed tools such drills, taps, milling cutters to a machine in an efficient and safe manner.
It is very crucial in mechanised procedures that need high
degrees of precision. This is due to the fact that they serve as the link
between a tool and a machine. Product quality, machine life span and process
noise are all affected by the tool holder used in high precision mechanised
operations. The global business is anticipated to witness a considerable value
CAGR of 5.4% during the period of 2022 and 2028.
FMI has identified North America to remain key market for
tool holders over the forecast period owing to increasing demand from end use
applications. The region is estimated to witness a value CAGR 4.3% in
the industry of Tool Holders. Global tool holders market is expected to account
for about 1.5% of global machine tool market.
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Key Market Insights at a Glance:
- The
demand for tool holders is anticipated to grow at a moderate pace over the
forecast period.
- Asia
Pacific is estimated to hold a prominent share of the global tool holders
market.
- Initiatives
by regional governments are likely to encourage the movement of low-cost
manufacturing towards parts of South-East Asia, thereby creating healthy
growth prospects create healthy growth opportunities in Asia Pacific
region.
- China
will remain the largest consumer of machine tools, followed by U.S.
- The
tool holders market is consolidated with Tier-1 players accounting for
significant shares.
- The
top three players of the market are estimated to account for more than a
50% market share.
- On the
basis of types of tool holder, hydraulic tool holders segment is slated to
remain a high value – high growth segment.
- In
terms of end-use, general machining and fabrication and the automotive
industries are likely to push maximum revenue into the tool holders
market. The two end-use industries are estimated to collectively account
for around 47% value share in the global tool holders market.
- BT
Flange Taper will remain the most preferred taper type among CNCers, in
terms of volume and value, given its high degree of accuracy and
precision, in any high-speed machining operations.
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Takeaways from Competitive Landscape Analysis
- In a
moderately consolidated landscape, tier-1 companies such as Kennametal
Inc., Sandvil AB, and BIG DAISHOWA Group among others hold approximately
55-65 percent market share.
- Tier-2
companies, on the other hand, hold nearly 35-45 percent market share. Such
companies include Guhring, Inc., CERATIZIT GROUP, KYOCERA UNIMERCO A/S,
Kemmler Precision Tools GmbH, and Haimer GmbH among others.
- Key
players are projected to focus on enhancing product quality by
implementing new technologies, tough and long-lasting equipment and
consumables materials with added features at a competitive price.
- Top
companies are also looking to target major manufacturing industries such
as metal fabrication and automotive by offering high cutting accuracy with
increased productivity.
Laser Cutting Technologies Could Restrict Tool Holders
Sales
Laser cutting, a streamlined and precision manufacturing
process, is likely to pose challenges for tool holders given its ability to not
just cut materials but also apply finish to a product. Apart from lower risks
of material deformation or warping, since there is no direct contact between
the material and the laser cutting device, chances of incorrect markings and
contamination further reduces. Although laser cutting could be technically
challenging and costly, end-use industries demanding high cutting precision
such as automotive, are projected to replace traditional tool cutting
equipment. However, high market penetration of relatively low cost tool
holders.
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