Tooling Market Anticipated to Reach $439,994.9 Million by 2030
Provided By: CE ResearchHub
Tooling Market Anticipated to Reach $439,994.9 Million by 2030
Provided By: CE ResearchHub
The key factors that drive the growth of the global market include increase in consumption of consumer electronics & electrical devices, growth in focus on product customizations specially in the automotive industry, and growth of the renewable energy systems. However, fluctuation in foreign exchange rates & raw material prices, and trade war between China and the U.S. are expected to hamper the tooling market growth to a certain extent.
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Overview
The key factors that drive the growth of the global market include increase in consumption of consumer electronics & electrical devices, growth in focus on product customizations specially in the automotive industry, and growth of the renewable energy systems. However, fluctuation in foreign exchange rates & raw material prices, and trade war between China and the U.S. are expected to hamper the tooling market growth to a certain extent.
The global tooling market size was valued at $212,500.0 million in 2020, and is projected to reach $439,994.9 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.
The tooling market has witnessed an unprecedented growth in the recent years, owing to expanding manufacturing facilities around the globe. The product developments and continuous customizations in the automotive and aerospace manufacturing lead to improvement in the tools required for their production. In addition, reliability of consumers on machines for household chores boosts the growth of the electronics industry, demanding for large scale manufacturing for the electronics and electrical products; thereby, increasing the need for tooling facilities to assist the production process.
Top 10 Key Market Players
- Bharat Forge
- Carlson Tool & Manufacturing Corp.
- Doosan Machine Tools Co., Ltd.
- Godrej & Boyce Manufacturing Co. Ltd.
- Omega Tool Corp
- Parpas S.p.A (GRUPPO PARPAS)
- Samvardhana Motherson Group
- Unique Tool & Gauge Inc.
- Sandvik AB
- Yamazaki Mazak Corporation
Key Market Segments
By Product Type
- Dies & molds
- Forging
- Jigs & Fixtures
- Machine Tools
- Gauges
By End-user Industry
- Automotive
- Electronics & Electrical
- Aerospace, Marine & Defense
- Plastics Industry
- Construction & Mining
- Others
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
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Name | Type | Data dictionary | AWS Region |
|---|---|---|---|
Tooling Market Anticipated to Reach $439,994.9 Million by 2030 | Not included | US East (Ohio) |
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