The global mold market is expected to grow from USD 2008 billion in 2018 to USD 368.5 billion in 2026, with a compound annual growth rate of 8.0% from 2019 to 2026. Moulds or tools are a basic part of every manufacturing industry. The processing process includes forming, stamping, forging, machining, boring, drilling and measuring. The instruments required for this purpose include molds and machine tools, such as drills, grinders, metal forming machines, boring machines, forgings, jigs and fixtures, and gauges. The quality of the tools required for manufacturing directly affects the quality of the final product. Therefore, the progress of the tool market is the reason for the growth of its end-user industry.
The digital trend has led to the increasing use of electronic and electrical equipment in the home to perform daily housework. Consumer electronic products mainly include televisions, DVD players, computers, washing machines, refrigerators and other equipment. Therefore, the increase in consumption of consumer electronics and electrical equipment has promoted the growth of the global tool market. In addition, the growing focus on the customization of automotive products is another factor driving market growth. The automobile industry is the main consumer of tools, and the consumption of manufacturing tools is about 70%.
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The production of automobiles requires a variety of uniquely designed parts, and each of these parts are combined to form a car. In addition, the growth of tool applications in the renewable energy industry is also expected to boost its demand during the forecast period.
The global tool market is segmented according to product types, end-user industries and regions. According to the product type, it is divided into molds, forgings, fixtures, machine tools, and measuring tools. Due to its increasing popularity in the automotive industry, the mold sector is expected to dominate the global mold market in the future. According to the end user industry, it is divided into automotive, electronics and electrical, aerospace, marine and defense, plastics industry, construction and mining, etc. Others include power generation, oil and gas, and medical care. It is expected that during the forecast period, the automotive sector will dominate the global tool market.
Analyzed the global mold market in North America (the United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy and the rest of Europe), the Asia-Pacific region (Japan, China, Thailand, India, and other regions) and LAMEA (Latin America, Middle East and Africa). During the entire study period, Europe is expected to occupy the largest market share, and the Asia-Pacific region is expected to grow at the fastest rate. competition analysis
The main market participants introduced in the tool market report include Bharat Forge, Carlson Tool & Manufacturing Corp., Doosan Machine Tools, Godrej & Boyce Manufacturing Co. Ltd., Omega Tool Corp, Parpas SpA (GRUPPO PARPAS), Samvardhana Motherson Group, Unique Tool & Gauge Inc., Sandvik AB and Yamazaki Mazak Corporation. Many competitors in the tool market have adopted new product development as their main development strategy to expand their product portfolio. For example, in April 2019, Doosan launched the PUMA TT2100SYY/TT2100SYYB/1300SYY/1300SYYB horizontal turning center.
The product is composed of upper and lower turrets and bidirectional spindles. The productivity of PUMA TT2100SYY is 20% higher than existing turning center products. Similarly, in June 2018, Doosan launched the new DNM 6700XL in the DNM series of vertical machining centers. The new product adopts a direct-connected spindle, which reduces the generation of heat and also reduces the vibration and noise of the spindle.
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Main benefits for stakeholders Ø The report provides an extensive analysis of current and emerging global tool market trends and dynamics. Ø Conduct in-depth analysis of the market by constructing market estimates for key market segments from 2018 to 2026. Ø Conduct extensive market analysis by tracking key product positioning and monitoring top competitors within the market framework. Ø Provide a comprehensive analysis of all areas to determine current opportunities. Ø The report contains forecast analysis of the global mold market from 2019 to 2026. Ø This report provides an overview of the major market participants in the market and a thorough analysis of their strategies, which helps to understand the competitive outlook of the industry.
Global tool market segmentation by product type • molds • forgings • fixtures and fixtures • machine tools • gauges
By end user industry• Automotive• Electronics and electrical• Aerospace, marine and defense• Plastics• Construction and mining• Others
• North America o United States o Canada o Mexico
• Europe o Germany o France o United Kingdom o Italy o Rest of Europe
• Asia Pacific o Japan o China o Thailand o India o Rest of Asia Pacific
• LAMEA o Latin America o Middle East o Africa
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Major Participants • Bharat Forge • Carlson Tool & Manufacturing Corp. • Doosan Machine Tools • Godrej & Boyce Manufacturing Co. Ltd. • Omega Tool Corp • Parpas SpA (GRUPPO PARPAS) • Samvardhana Motherson Group • Unique Tool & Gauge Inc. • Sandvik AB • Yamazaki Mazak Company
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