Global Dies, Jigs and other Tools Market.
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.
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.
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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