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The global tooling market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Tooling refers to the process of developing and engineering tools that are required for manufacturing different parts of machines. It comprises dies, sheet metal, work holding and cutting tools, forging and extrusion machines, and welding and inspection fixtures. It helps machines function properly, repeat results and reduce man-hours. In addition, it delivers finished products within a specific tolerance that cannot be broken and degraded easily. Besides this, it allows manufacturers to provide high-quality and customized products while keeping production costs low.
At present, there is a rise in the adoption of tooling in the manufacturing industry to produce parts of numerous machines. This, along with a considerable reliance on electrical devices for carrying out everyday tasks easily and conveniently, represents one of the key factors driving the market. Moreover, there is an increase in the customization of molds and dies that are used in automotive engines, fuel tanks, turbines, propellers, and shafts. This, coupled with the increasing renewable energy systems, such as wind power energy generation, solar energy generation, and hydro-electricity plants, is impelling the market growth. In addition, the rising automation and growing popularity of artificial intelligence (AI) technology are augmenting the adoption of tooling worldwide. Besides this, the burgeoning plastic industry and new developments in biodegradable polymer material are offering a positive outlook to industry investors. Additionally, the escalating demand for light commercial vehicles (LCVs) around the world on account of the inflating global oil prices is positively influencing the market. Furthermore, key market players are focusing on different varieties of tool production in the automotive industry. They are also focusing on expanding their product portfolio to offer more economical products.
IMARC Group provides an analysis of the key trends in each sub-segment of the global tooling market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, material type and end use industry.
Breakup by Product Type:
Breakup by Material Type:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Agathon AG, Bharat Forge Limited, Carlson Tool & Manufacturing Corp., Doosan Machine Tools Co. Ltd. (DTR Automotive), Godrej & Boyce Manufacturing Co. Ltd., Omega Tool Corp, Samvardhana Motherson Group, Sandvik AB, Siemens AG, Stratasys Direct Inc., Unique Tool & Gauge Inc. and Yamazaki Mazak Corporation.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Material Type, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Agathon AG, Bharat Forge Limited, Carlson Tool & Manufacturing Corp., Doosan Machine Tools Co. Ltd. (DTR Automotive), Godrej & Boyce Manufacturing Co. Ltd., Omega Tool Corp, Samvardhana Motherson Group, Sandvik AB, Siemens AG, Stratasys Direct Inc., Unique Tool & Gauge Inc. and Yamazaki Mazak Corporation.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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