Metal cutting machine tools will remain the dominant segment, followed by machine tools accessories and metal forming tools, respectively. The global tooling market is dependent on the market dynamics of the global machine tools market.
Industrial outputs that had taken a hit in many countries following the global economic recession of 2008 are at a stage of recovery. With the advent of industrial automation, key manufacturing industries, such as industrial machinery, aerospace, and automotive, are witnessing upward growth trajectories, which is evident in the stabilized global manufacturing Purchasing Managers’ Index (PMI). The global tooling market focusses on the different types of tooling used for the machining of metal and other materials and the key end-user industries. The tools considered in the report are the most widely used and vital to the machining sector.
Technavio’s analysts forecast the global tooling market to grow at a CAGR of 5.90% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global tooling market for 2017-2021. To calculate the market size, the report considers the tooling used in machine tools only. It includes tool bits used in the machine tool industry.
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Tooling Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • BIG KAISER Precision tooling • FRAISA • Guhring • Kennametal • Sandvik
Market driver • Increased adoption of HSS tools • For a full, detailed list, view our report
Market challenge • Fluctuating raw material prices • For a full, detailed list, view our report
Market trend • Use of rotary turning in high-temperature alloys in aerospace industry • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space?
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