Press release
At 8.0% CAGR, Tooling Market to Exhibit $368.5 Billion by 2026
Europe is a pioneer in the tooling market, owing to expansion of the automotive sector in this region. Therefore, tooling market’s share is the highest among countries such as Germany, France and the UK. In addition, increase in demand for tools from the electronics & electrical industry is expected to boost the market growth.
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Based on end-user, the automotive segment held the lion’s share in 2018, contributing more than two-thirds of the total market share. This segment will account for the highest share due to significant growth in the production of automotive vehicles across the world. Contrarily, the electronics and electrical segment is expected to portray the fastest CAGR of 11.6% from 2019 to 2026.
The report offers a detailed analysis of leading market players such as 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.
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Key Findings of the Tooling Market :
•In 2018, the dies & molds segment dominated the global market, in terms of revenue.
•The automotive segment is expected to be the largest customer for the tooling market players globally.
•Asia-Pacific is projected to be one of the most dominant regions and is expected to witness a high growth rate during the tooling market forecast period.
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