Portland,OR, Aug. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global tooling market generated $212.50 billion in 2020, and is expected to garner $439.99 billion by 2030, witnessing a CAGR of 7.5% from 2021 to 2030. The report provides a comprehensive analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in consumption of consumer electronics and electrical devices, focus on product customizations for automotive products, and rise in usage of high-speed tools drive the growth of the global tooling market. However, fluctuations in foreign currencies and the U.S. and China trade war hinder the market growth. On the other hand, new advancements such as penetration of automation and IoT present new opportunities in the coming years.
Download Sample PDF (285 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/2539
Covid-19 Scenario:
- Manufacturing activities of tools such as dies & molds, machine tools, jigs & fixtures, and gauges halted due to lockdown measures implemented across many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented various challenges in manufacturing with full capacity.
- The demand from end-use industries such as automotive, aerospace, marine & defense, electronics & electrical, and others lowered down considerably due to halt in daily operations during the lockdown. However, the demand is estimated to grow steadily during post-lockdown
- The equipment and machinery manufacturers are focused on the protection of their staff, operations, and supply networks for responding to emergencies and establishing new methods of working.
The report offers detailed segmentation of the global tooling market based on product type, end-user industry, and region.
Based on product type, the dies & molds segment accounted for the largest share in 2020, contributing to nearly two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the machine tools segment is projected to manifest the highest CAGR of 8.2% from 2021 to 2030.
Get detailed COVID-19 impact analysis on the Tooling Market Request Here
Based on end-user industry, the automotive segment contributed to the highest market share in 2020, accounting for more than two-thirds of the global tooling market, and is expected to continue its leadership status during the forecast period. However, the electronics segment is estimated to portray the fastest CAGR of 11.1% from 2021 to 2030.
Based on region, Europe held the highest share in 2020, contributing to nearly two-fifths of the total share, and is projected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is expected to manifest the largest CAGR of 8.2% during the forecast period.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/2539
Leading Players:
Leading players of the global tooling market analyzed in the research include Bharat Forge, Doosan Machine Tools, Carlson Tool & Manufacturing Corp., Omega Tool Corp, Godrej & Boyce Manufacturing Co. Ltd., Samvardhana Motherson Group, Parpas S.p.A (GRUPPO PARPAS), Sandvik AB, Unique Tool & Gauge Inc., and Yamazaki Mazak Corporation.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Tire Mold Market - Global Opportunity Analysis and Industry Forecast, 2021 - 2027
Plumbing Fixtures and Fittings Manufacturing Market - Global Opportunity Analysis and Industry Forecast, 2021–2030
Agriculture Tools Market - Global Opportunity Analysis and Industry Forecast, 2021-2028
Power Tool Gears Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
Metal Forming Machine Tools Market - Global Opportunity Analysis and Industry Forecast, 2020-2027
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn