Dies Jigs and Other Tools Market Segments 2021: COVID-19 Impact Leading Players, Current Trends, Market Challenges, Growth Drivers and Business Opportunities
Global Dies,
Jigs and other Tools Market.
Overview
The Global Dies,
Jigs and other Tools Market is
expected to be valued at USD
108,566.2 Million by 2025, with a CAGR of 9.83% during the forecast period (2019–2025).
The report covers segmentation and drivers for a better glimpse of
the market in the coming years. The equipment that aid in the conversion of raw
materials into a required shape is commonly referred to as dies and molds.
These tools are used to cut, shape, and form precision components in various
manufacturing industries such as automobiles, metalworking, electronics, and
plastics manufacturing. These tools increase the manufacturing output capacity,
raise the quality standard of a product produced, enhance the price
competitiveness of the product produced, and reduce the lifecycle cost of a
product.
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Segmental Analysis
The Global Dies, Jigs and other Tools Market is segmented based on
type and application. On the basis of type the global dies, jigs and other
tools market is segmented into dies, stamping, jigs and fixtures, and other
tools. The stamping segment held the largest market share in 2018 as these
tools offer quick and cost-effective solutions for metal processing. Stamping,
is also known as a pressing tool, is used to convert flat metal sheets into
specific shapes using metal forming techniques including blanking, punching,
bending, and piercing.
On the basis of application, the global dies, jigs and other tools
market is segmented into automobile, metalworking, electronics, plastics
manufacturing, and others. The automobile segment held the largest market share
in 2018. An increase in the production of vehicles and growing automotive parts
industry are expected to enhance the demand for dies, jigs, and other tools in
the automobile industry. Moreover, the increased production of parts and vehicles
increase the need to ensure high productivity and maximum uptime, which further
fuels the demand for the dies, jigs, and other tools in automotive applications.
Competitive Analysis
Some of the prominent players in the Global Dies, Jigs and other
Tools Market are Midway
Rotary Die Solutions (US), Tipco Punch Inc. (US), Sterling Industrial Products
(India), Dies Plus (US), AWEBA Werkzeugbau GmbH (Germany), Kennametal Inc.
(US), Rotometrics (US), ALLMATIC-Jakob Spannsysteme GmbH (Germany), MISUMI
Group Inc. (Japan), and Meusburger Georg GmbH & Co KG (Austria).
Kennametal Inc. focuses on enhancing its product portfolio and
on-ground distributor network. It intends to develop strategic sourcing and
further simplifying its product portfolio to meet the customer demand for
cost-effective industrial equipment. The company strategizes to invest in the
development and improvement of its sales and distribution channel strategies to
strengthen its product distribution and supply network to enhance its value
chain. Furthermore, it also focuses on formulating long-term investment strategies
with its clients and raw material suppliers to minimize the risk of
fluctuations in raw material prices.
ALLMATIC-Jakob Spannsysteme GmbH focuses on strengthening its
global footprint and expanding its loyal customer base in the global market. It
aims to form strategic collaborations and sign partnership agreements with raw
material providers to ensure an uninterrupted supply chain and to minimize the
risk associated with fluctuating raw material prices. The company aims to be
recognized as a technological leader in the global market for machine vices by
2030. It invests in the development of innovative product manufacturing
processes to enhance manufacturing capabilities for economical industrial
clamping systems. Additionally, the company invests in strengthening its
manufacturing technologies to offer customized machines with quicker delivery
times for the aftermarket.
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