Tools Market (Dies, Jigs And Fixtures, Stamping) 2019 Research Report

The global jigs and fixtures and dies manufacturing market reached a value of nearly $56.8 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.6% from 2014, and is expected to grow at a CAGR of 9.3% to nearly $88.8 billion by 2023. View complete report @ https://www.thebusinessresearchcompany.com/report/dies-jigs-and-other-tools-market .

In the historic period the main drivers of the market were the rise of manufacturing activity in emerging markets and increased spending on construction projects, while the main restraints were fluctuating raw material prices.

Going forward, the main drivers of the market will be growth in the automobile industry, technological advances and growth in consumer markets, while the main threat is trade protectionism.

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Trade barriers are expected to have a negative impact on the dies, jigs and other tools market. Many countries are placing trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed 25% tariff on steel and 10% tariff on aluminum, in 2018. Steel and aluminum are extensively used in manufacturing of these tools. These trade restrictions are likely to limit the growth of demand going forward by leading to raised prices.

Automation tools and robotic solutions are being used by tool manufacturers to reduce downtime and increase productivity. Automatic tools include the use of computerized control systems for operating manufacturing equipment. Major automatic tools include smart camera systems, intelligent control systems, shop floor monitoring systems, 3D vision technology and robotic material handling systems. Robots allow faster assembling of complex components as compared to traditional manufacturing techniques. Robots automate milling, trimming, drilling, cutting and forming processes, thereby reducing the production time. Automation further enables machine manufacturing companies to significantly increase production volumes with automation technologies, thereby decreasing production costs and increase profit margins. Major companies using automation include DMTG, DMG Mori, SMTCL, Mazak, and Haas Automation.

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