Metalworking Tool Holder Market Things to Focus on to Ensure Growth at a CAGR of 4.5% from 2021 to 2030

Prime determinants of growth

Increase in manufacturing activities of defense equipment in the private sector, surge in defense expenditure, and growth of manufacturing machinery and automotive industries drive the growth of the global metalworking tool holder market. However, variations in foreign currencies and rise in penetration of laser cutting technology hinder the market growth. On the other hand, rise of the machinery and equipment manufacturing sectors present new opportunities in the coming years.

According to the report, the global metalworking tool holder industry generated $815.3 million in 2020, and is estimated to garner $1.19 billion by 2030, witnessing a CAGR of 4.5% from 2021 to 2030.

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The collet chuck segment to maintain its leadership status during the forecast period

Based on type, the collet chuck segment held the largest market share in 2020, accounting for nearly half of the global metalworking tool holder market, and is projected to maintain its leadership status during the forecast period. This is attributed to wide application in medical equipment, automotive, and defense sectors for its low cost, compact size, and working efficiency. However, the hydraulic tool holders segment is projected to witness the largest CAGR of 4.9% from 2021 to 2030. This is due to its features such as vibration dampening, easy handling, repeat accuracy, flexible camping range, and compatibility.

The automobile segment to maintain its lead position during the forecast period

Based on end user, the automobile segment accounted for the highest share in 2020, contributing to around one-third of the global metalworking tool holder market, and is projected to maintain its lead position during the forecast period. This is due to increase in adoption of tool holder in CNC metal cutting machines for their working efficiency and speed. However, the electronics segment is expected to portray the highest CAGR of 4.7% from 2021 to 2030. This is attributed to its usage in manufacturing components and precision metal cutting applications.

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Asia-Pacific, followed by Europe and North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe and North America, contributed to the highest market share in 2020, holding nearly half of the global metalworking tool holder market, and is estimated to maintain its dominance in terms of revenue by 2030. Moreover, this region is expected to manifest the fastest CAGR of 4.3% during the forecast period. This is due to increase in investments from major producers for infrastructure, defense, and aerospace and rise in urbanization.

Leading market players

Sandvik AB
Guhring Inc.
Kennametal Inc.
Ceratizit S.A.
Kyocera Unimerco Tooling A/S
Ingersoll Cutting Tool Company
Haimer GmbH
Schunk GmbH & Co KG
Collis Toolholder Corp.
BIG KAISER Precision Tooling Inc.

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