By the end of the year, the global tool holders market is projected to be worth roughly US$ 1,173.4 Million, representing a 5.2% annual growth rate. To effectively and securely attach high-speed tools like drills, taps, and milling cutters to a machine, tool holders are required.
It is crucial in automated processes that call for high precision. This is because they serve as a bridge between a tool and a machine. The tool holder used in high-precision mechanised operations has an impact on the quality of the final product, the lifespan of the machine, and process noise. The global economy is anticipated to expand at a significant value CAGR of 5.2% between 2022 and 2032.
FMI expects North America to remain a key market for tool holders during the forecast period due to increased demand from end-use applications. The Tool Holders industry is expected to grow at a CAGR of 5.2% in the region. The global tool holder market is expected to account for about 1.5% of the 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 the tool holders, the 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.
Takeaways from Competitive Landscape Analysis
- In a moderately consolidated landscape, tier-1 companies such as Kennametal Inc., Sandvik 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 Holder’s 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, the chances of incorrect markings and contamination are further reduced. 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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Key Segments
By Taper Type:
- R8
- Morse Taper
- V-Flange Taper
- BT Flange Taper
By Tool Holders Type:
- Collet Chuck
- End Mill Holders
- Hydraulic Tool holders
By Machine Type:
- CNC Machining Centre
- CNC Turning Centre
By End Use:
- Automotive
- Aerospace & Defence
- Electronic
- General Machining & Fabrication
By Region:
- North America
- Latin America
- Europe
- South Asia Pacific
- East Asia
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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