Metalworking Tool Holder Market Drive Tremendous Growth in 2021–2030 | Covid-19 Impact With Key Growth Factors
The global metalworking tool holder market size was valued at $0.81 billion in 2020, and is expected to reach $1.19 billion by 2030, with a CAGR of 4.5% from 2021 to 2030.
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Tool holder acts as adaptor used to mount tools such as milling tools, boring tools, lathe machines, turning tools, and others. Toolholder is adopted in machining operations, owing to precision control, smooth machining operation, maintain balance, and avoid positioning error. These factors fuel the metalworking tool holder market growth.
An increase in urbanization and industrialization in emerging countries such as Germany, France, the U.S., and others drives the demand for automotive vehicle. This is expected to fuel the demand for tool holder; thereby, driving the growth of the metalworking tool holder market. For instance, degree of urbanization in the U.S. increased by 0.4% from 2017 to 2019.
Top 10 Key Market Players
Kyocera Unimerco Tooling A/S
Ingersoll Cutting Tool Company
Schunk GmbH & Co KG
Collis Toolholder Corp
BIG KAISER Precision Tooling Inc.
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Key Market Segmentation
Hydraulic Tool holders
By Machine Type
Gear Cutting Machines
Aerospace & Defense
Power & Energy
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