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Jun 25, 2020 (AB Digital via COMTEX) -- The dies, jigs and other tools market 2020 can post a CAGR of 9.83% between 2017 and 2025 (review period), says Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report. The report discusses the COVID-19 impact on the market and the growth potential of the industry following the coronavirus disease outbreak.
Leading performers in the market include Tipco Punch Inc. (US), Meusburger Georg GmbH & Co KG (Austria), AWEBA Werkzeugbau GmbH (Germany), Rotometrics (US), Kennametal Inc. (US), Dies Plus (US), Sterling Industrial Products (India), Midway Rotary Die Solutions (US), ALLMATIC-Jakob Spannsysteme GmbH (Germany), MISUMI Group Inc. (Japan), and more.
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The notable disruptions in the supply chain due to the COVID-19 outbreak have made it clear to machine tool suppliers and manufacturers that being too dependent on China can be risky. Issues associated with the supply of materials pose a challenge for the machine tool manufacturers, given the lack of supply from China from where most of the imported materials came from. Also, the pandemic induced lockdown has limited the production level, which has led to more focus on other nations rather than on China. Given the spike in the demand post SARS-CoV-2, leading suppliers of dies, jigs and other tools are prioritizing large companies compered to small and medium enterprises/SMEs.
However, many of the renowned OEMs in the market are planning to re-tool their manufacturing and production systems to come up with diverse products. For instance, in February 2020, when the novel coronavirus impacted the automotive industry in China, Shanghai-GM-Wuling retooled its manufacturing and production system for quickly developing medical face masks. This effectively mitigated the negative effects of COVID-19, and also ensured steady revenue generation while keeping the reputation of the company intact among people. Apparently, the ongoing mitigation measures taken by reputed manufacturing companies can help the dies, jigs and other tools market remain stable despite the SARS-CoV-2 outbreak.
Top Drivers and Main Challenges
In June 2020, reports confirmed that MQTech can be the new owner of Latexx Partners Bhd, which is being sold by its parent company, Semperit AG. MQTech is known for its broad range of products pertaining to jigs, rapid tooling, dyes development, prototyping, and many other tools. A large number of companies in the market are actively exploring new avenues to boost their profits and expand their reach across the globe. Mergers and acquisitions are some of the common strategies that the leading vendors adopt to gain a major share in the dies, jigs and other tools market.
The dies, jigs and other tools market is also making waves backed by the increasing metal deployment in the worldwide construction industry. Buildings that have metal structures are the basic choice when it comes constructing industrial and commercial facilities. For instance, close to 40 million tons steel had been deployed in the U.S construction sector in 2018. The automotive industry has also emerged as a significant end-user in the global market.
Automation tools along with robotic solutions are increasingly being consumed by tool manufacturers to boost productivity and bring down the downtime. The most commonly used automatic tools are intelligent control systems, shop floor monitoring systems, 3D vision technology, robotic material handling systems and smart camera systems. Apart from this, many of the leading tool manufacturers are making extensive use of additive manufacturing technologies that help provide their customers customized designs. Additive manufacturing means the deployment of 3D printing to develop functional components such as tooling, end-use production parts as well as prototypes. These are some of the emerging trends that are expected to lead the market to greater heights in the coming years.
The dies, jigs and other tools industry has been considered for type and application.
The types in the dies, jigs and other tools market are stamping, jigs and fixtures, dies, as well as other tools. In 2018, the winning segment belonged to stamping, since these types provide cost-effective and quick solutions during metal processing.
The key applications of dies, jigs and other tools include metalworking, plastics manufacturing, electronics, automobile, and others. In 2018, the biggest share in the market was owned by the automobile segment, as a result of the surge in the vehicles production along with the expanding automotive parts industry that boosted the demand for these tools.
Asia Pacific/APAC, Western Europe, North America, South America, MEA/Middle East and Africa and Eastern Europe are the top markets for dies, jigs and other tools.
Western Europe can emerge as the top performing market for dies, jigs, and other tools in the following years. The region houses some of the biggest manufacturing industries for automotive, machine tools, consumer products, electronics, and others. The escalating deployment of the latest technologies and the surge in export and import activities are deemed to be prime growth enhancers in the market. In the region, Germany remains a prominent producer of dies, jigs and other tools, following the growth in manufacturing, automotive and construction industries.
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Key Questions Addressed by the Report
What was the historic market size (2018)?
Which segmentation (Type/Application) is driving market?
What will be the growth rate by 2025?
How are the key players in this market?
What are the strategies adopted by key players?
Table of Content
1 Executive Summary
1.1 Market Attractiveness Analysis
1.2 Global Dies, Jigs and Other Tools Market, by Type
1.3 Global Dies, Jigs and Other Tools Market, by Application
1.4 Global Dies, Jigs and Other Tools Market, by Region
2 Market Introduction
2.2 Scope of the Study
2.3 Market Structure
2.4 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Top-down and Bottom-up Approach
3.6 Forecast Model
3.7 List of Assumptions
4 Market Insights
5 Global Dies, Jigs, and Other Tools Market, Market Dynamics
5.2.1 Growth of Manufacturing
5.2.2 Developing Automotive Industry
5.2.3 Drivers Impact Analysis
5.3.1 Increasing Raw Material Prices
5.3.2 Restraint Impact Analysis
5.4.1 Broad Scope in Emerging Economies
List of Tables
Table 1 List of Assumptions
Table 2 Major Granted Patents on Dies, Jigs, and Other Tools (07 September 2015–07 September 2019)
Table 3 Global Dies, Jigs and Other Tools Market, by Type, 2017–2025 (Usd Million)
Table 4 Global Dies, Jigs and Other Tools Market, by Application, 2017-2025 (Usd Million)
Table 5 Global Dies, Jigs and Other Tools Market, by Region, 2017–2025 (Usd Million)
Table 6 Asia-pacific: Dies, Jigs and Other Tools Market, by Country, 2017–2025 (Usd Million)
Table 7 Asia-pacific: Dies, Jigs and Other Tools Market, by Type, 2017–2025 (Usd Million)
Table 8 Asia-pacific: Dies, Jigs and Other Tools Market, by Application, 2017–2025 (Usd Million)
List of Figures
Figure 1 Market Synopsis
Figure 2 Market Attractiveness Analysis: Global Dies, Jigs and Other Tools Market
Figure 3 Global Dies, Jigs and Other Tools Market Analysis, by Type
Figure 4 Global Dies, Jigs and Other Tools Market Analysis, by Application
Figure 5 Global Dies, Jigs and Other Tools Market Analysis, by Region
Figure 6 Global Dies, Jigs and Other Tools Market: Market Structure
Figure 7 Key Buying Criteria of the Global Dies, Jigs and Other Tools Market
Figure 8 Research Process of Mrfr
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