Automotive Industry under End-Use Contributes 48% of Market Share In Global Sales Of Standard Parts For Tool Making
The market
for standard parts used in tool manufacturing is anticipated to reach a value
of US$ 3.7 Bn in 2022 and is anticipated to grow at a CAGR of 5% by value from
2022 to 2032.
The global
market for equipment tools only accounts for 1% of the market for standard
parts used in tool manufacturing. A Fact.MR report claims that the continuous demand
for standard parts for tool makings from the automotive and
aerospace & defence industries is what is driving the market's steady
growth.
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a Sample of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=914
During the
anticipated period, demand from the automotive industry for various industrial
activities is anticipated to drive the global market for standard parts for
tool manufacturing. Increased output through the development of methods to
increase productivity is a constant objective for many industries. With today's
wide selection of cutting tool insert embeds, production time has been greatly
decreased while product quality has been preserved.
|
Report Attributes |
Details |
|
Standard
Parts for Tool Making Market Size (2021A) |
US$ 3.5
Billion |
|
Estimated
Market Value (2022E) |
US$ 3.7
Billion |
|
Market
Value Forecast (2032F) |
US$ 6.3
Billion |
|
Global
Market Growth Rate (2022-2032) |
5% CAGR |
Key
Takeaways:
·
The market share for standard parts used in tool
manufacturing in North America is ranked second.
·
The standard parts for tool manufacturing market
in South Asia and Oceania accounts for about one-fifth of global revenue.
·
Punches and dies currently account for more than
2/5 of the market and are expected to grow at a CAGR of 4.8%.
·
Different end-use industries have embraced
stamping widely, accounting for more than 55.0% of the market.
·
The CAGR for the Japanese market is predicted to
be 5.4%.
·
The CAGRs for the aerospace and defence and
automotive industries are 6.4% and 5.8%, respectively.
Growth Engines:
·
The annual production volumes are driven by
national government initiatives.
·
The automotive industry is driving demand to
provide high-accuracy goods as awareness of the availability of these
apparatuses grows.
·
There is a huge market for CNG-powered vehicles
because of the rising demand.
Important Restraints:
The
manufacturers are gradually catching up in the COVID era. This will prove to be
a significant constraint.
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Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=914
Competitive Environment
Key players
are adopting a variety of marketing strategies, such as mergers and
acquisitions, expansions, collaborations, and partnerships, by prominent
players in the market for standard parts for tool making.
A high
precision vertical machining centre for mould machining is part of the MP 6500
series product line that Doosan Machine Tools introduced in 2020. This
machine's features boost user convenience and improved quality by increasing
spindle rigidity and stability.
Key
Companies Profiled by Fact.MR
- MISUMI Group
- Barnes Group
- Erwin Halder
- Meusburger Georg
- Lapple
- Hong Yue Mold Fittings
- Nitrogas
- DADCO
- Shenzhen QH Industrial
- Strack Norma GmbH
- Changsha Borun Mould
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Global Standard Parts for Tool Making
Market by Category
- By
Component Type :
- Guide Pillars
- Bushes & Cages
- Die & Gas Springs
- Punches & Dies
- Pillar & Bush Blocks
- Dowel Pins (Set of 100)
- Steel Plates
- Others (Set of 100)
- By
Application :
- Stamping
- Forming
- Bending
- Punching
- Die-Casting
- By
End-Use Industry :
- Automotive
- Industrial Engineering and
Equipment
- Consumer Goods
- Aerospace & Defense
- Others
- By
Sales Channel :
- Direct Sales
- Retail Sales
- Online Sales
- By
Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
* This article was originally published here
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