Global demand for tool holders, specifically from the automotive, defence and aerospace industries, will witness a relatively steady growth between 2018 and 2028, as predicted by a research intelligence report. While the demand for tool holders will be largely driven by emerging economies, in particular the manufacturing sector, China is likely to make substantial investments in high performance cutting tools, considering the robust manufacturing and industrial output in the region.
In other developing countries such as Philippines and Bangladesh, the positive scenario and policies, infrastructure, and steps, which are being taken to promote business, especially the manufacturing sector, will have a positive impact on the tool holders market offering huge opportunities for investors.
As per the report, the global tool holders market will top US$ 1 billion by 2019. Moreover, growing demand for high precision products with increased output capacity is propelling the demand for advance tool holders in the global market, opines Study.
Key Market Insights at a Glance:
Laser Cutting Technologies Could Restrict Tool Holders 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, chances of incorrect markings and contamination further reduces. 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
Takeaways from Competitive Landscape Analysis
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