NEW YORK , Aug. 9, 2022 /PRNewswire/ -- The tooling market size is expected to increase by USD 9.84 billion between 2020 and 2025, according to the latest research report by Technavio. The market observed a YOY growth of 4.16% in 2021 and the growth momentum is expected to accelerate at a CAGR of 5% during the forecast period. The report identifies APAC as the key market for tooling products. The thriving construction industry and increasing government spending on infrastructure development are creating significant opportunities for vendors to grow in the region. Download Sample PDF Report Here

Key points covered in the tooling market study:

Market estimates and forecast 2020-2025

Key drivers, trends, and challenges impacting market growth

Segment-wise, region-wise, and country-wide analysis

Analysis of market share by vendors

Key product launches and regulatory climate

Post-COVID-19 impact on the market landscape.

The 120-page report segments the global tooling market by product (milling tools, drills, stationary tool inserts, turning tools, and others) and geography (APAC, North America , Europe , South America , and MEA).

Tooling Market Product Outlook (Revenue, USD Billion, 2020-2025)

Milling tools - size and forecast 2020-2025

Drills - size and forecast 2020-2025

Stationary tool inserts - size and forecast 2020-2025

Turning tools - size and forecast 2020-2025

Others - size and forecast 2020-2025

The market observed maximum demand for milling tools from end-users. The segment is driven by the strong growth of end-user industries such as automotive, energy, and aerospace. The need for high-precision metal tools has increased the consumption of milling tools in the segment. The market growth in the segment will be significant during the forecast period.

Tooling Market Geography Outlook (Revenue, USD Billion, 2020-2025)

APAC - size and forecast 2020-2025

North America - size and forecast 2020-2025

Europe - size and forecast 2020-2025

South America - size and forecast 2020-2025

MEA - size and forecast 2020-2025

APAC will account for 56% of the overall market growth during the forecast period. The increase in the demand for passenger and commercial vehicles and investments by global OEMs to set up manufacturing plants in the APAC countries are driving the growth of the regional market. China , Japan , and South Korea (Republic of Korea) will emerge as key markets for tooling in APAC.

The market is mainly driven by rising industrial automation globally. The rise in labor costs and the growing shortage of labor has forced many industrial operators to invest in automation technologies. This has spurred the demand for advanced tools to meet the complex machining needs of automated technologies. In addition, many emerging economies are working on creating a favorable environment for the manufacturing sector to increase their net exports. All these factors are expected to foster the growth of the global tooling market during the forecast period. View Sample Report PDF Now

The market is fragmented and comprises well-established players that are involved in the design and manufacturing of tools for end-users across a wide range of industries. These vendors are making high investments in R&D to push better products into the market and expand their customer base. They are also strengthening their position with the help of mergers, acquisitions, and strategic partnerships. As the market growth over the next five years is expected to remain slow, the landscape will remain competitive. Technavio identifies the following as dominant players in the global tooling market.

BIG KAISER Precision Tooling Inc.

Recent product launches/mergers and acquisitions:

In September 2020 , Kennametal Inc. announced its partnership with TITANS of CNC on its Aerospace Academy, an online education platform designed to teach programmers and machinists next-generation aerospace machining and manufacturing.

In February 2021 , KYOCERA Precision Tools launched high precision and high-efficiency high rake cutter, MFSE45, which delivers high-quality surfaces by roughing and finishing

Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here

Cutting Tool Inserts Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

CNC Machine Tools Market by Product and Geography - Forecast and Analysis 2021-2025

Accelerate at a CAGR of 5%

APAC, North America, Europe, South America, and MEA

China, US, Japan, Germany, and South Korea (Republic of Korea)

Leading companies, competitive strategies, consumer engagement scope

BIG KAISER Precision Tooling Inc., CERATIZIT SA, FRAISA SA, Guhring Inc., Hanjiang Tool Corp Ltd, ISCAR Ltd., Jiangsu Feida Tools, Kennametal Inc., KYOCERA Precision Tools, and Sandvik AB

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Market outlook: Forecast for 2020 - 2025

Milling tools - Market size and forecast 2020-2025

Drills - Market size and forecast 2020-2025

Stationary tool inserts - Market size and forecast 2020-2025

Turning tools - Market size and forecast 2020-2025

Others - Market size and forecast 2020-2025

APAC - Market size and forecast 2020-2025

North America - Market size and forecast 2020-2025

Europe - Market size and forecast 2020-2025

South America - Market size and forecast 2020-2025

MEA - Market size and forecast 2020-2025

BIG KAISER Precision Tooling Inc.

Currency conversion rates for US$

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/

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