New Report on Global Tooling Industry 2017 at Market Research Nest

MarketResearchNest.com adds “Global Tooling Market 2017-2021” new report to its research database. The report spread across 110 pages with table and figures in it.
Research analysts forecast the global tooling market to grow at a CAGR of 5.90% during the period 2017-2021.

About Tooling
Metal cutting machine tools will remain the dominant segment, followed by machine tools accessories and metal forming tools, respectively. The global tooling market is dependent on the market dynamics of the global machine tools market. Industrial outputs that had taken a hit in many countries following the global economic recession of 2008 are at a stage of recovery. With the advent of industrial automation, key manufacturing industries, such as industrial machinery, aerospace, and automotive, are witnessing upward growth trajectories, which is evident in the stabilized global manufacturing Purchasing Managers' Index (PMI). The global tooling market focusses on the different types of tooling used for the machining of metal and other materials and the key end-user industries. The tools considered in the report are the most widely used and vital to the machining sector.

Covered in this report
The report covers the present scenario and the growth prospects of the global tooling market for 2017-2021. To calculate the market size, the report considers the tooling used in machine tools only. It includes tool bits used in the machine tool industry.

Browse full table of contents and data tables at https://www.marketresearchnest.com/global-tooling-market-2017-2021.html

The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA

Technavio's report, Global Tooling Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Technavio recognizes the following companies as the key players in the global tooling market: BIG KAISER Precision tooling, FRAISA, Guhring, Kennametal, and Sandvik.

Other Prominent Vendors in the market are: CERATIZIT, Hanjiang Tool, Ingersoll Cutting Tools/ ISCAR (IMC Group), Jiangsu Feida Tools, KYOCERA Precision Tools, LMT Onsrud, MIKRON, Mitsubishi Materials, NACHI-FUJIKOSHI, NTK Cutting Tools, and OSG.

Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Use of rotary turning in high-temperature alloys in aerospace industry. The demand of the aerospace industry for high-performance alloys is increasing, owing to their superior thermal and mechanical properties. Superior thermal alloys decrease the machinability, resulting in low productivity. In addition, conventional techniques fail to increase the productivity of high-performance alloys. Hence, special processes, such as turn-milling and rotary turning, are used to increase the productivity of these applications.

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According to the report, one of the major drivers for this market is Increased adoption of HSS tools. Minimizing the manufacturing time with the minimum impact on the quality of the product is the need of the hour for manufacturers. Additionally, buyers now want on-time and defect-free delivery schedules for products. To enable the same, customers are insisting on and verifying the quality reports from manufacturers. To enable defect free manufacturing, with high-efficiency requirements for complex machining operations, choosing the right cutting tool is indispensable. This has led to the increased adoption of high-speed steel (HSS) metal cutting tools, which are far more superior in quality than conventional tools.

Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. High capital expenditure is required by machine tool manufacturers to provide advanced and innovative tools in the market. Key metals, such as iron, steel, aluminum, stainless steel, and titanium, are raw materials for tooling, which account for a significant share in the overall manufacturing and labor costs. Fluctuating raw material prices disrupt the pricing strategy of machine tool manufacturers. In addition, the necessity to train the workforce adds to the overall cost. Manufacturers also incur additional costs when hiring consultants or design specialists. All these factors add to manufacturing costs, thus affecting the growth of the global tooling market.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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