Manufacturing of defense equipment in the private sector & rise in defense expenditure has witnessed significant growth

WILMINGTON, DELAWARE, February 6, 2024 /EINPresswire.com/ -- 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.

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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In 2020, Asia-Pacific dominated the global metalworking tool holder market, in terms of revenue, accounting for around 47.10% share of the global market.
The report analyzes the global metalworking tool holder market on the basis of type, machine type, end user, and region.
The types covered in this report are milling chucks, collet chuck, hydraulic toolholders, and others. The machine type taken into consideration in the report are machining centers, lathe machines, gear cutting machines, laser cutting machines, and others.

By end user, the market is divided into automotive, aerospace & defense, power & energy, electronics, and others. The market is driven by development in automotive, aerospace, and defense sectors and economic growth globally.

However, fluctuation in raw material prices is anticipated to hamper the growth of the global metalworking tool holder market.

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Segments Based On:
The global metalworking tool holder market is segmented on the basis of type, machine type, end user, and region.

On the basis of type, the market is divided into milling chucks, collet chuck, hydraulic toolholders, and others. Collet chuck segment generated the highest revenue in 2020.

Based on machine type, the market is divided into machining centers, lathe machines, gear cutting machines, and others. Machining centers segment dominated the market in 2020.

On the basis of end user, the market is categorized into automobile, aerospace & defense, power & supply, and others. Automobile segment generated the highest revenue in 2020.

Regional Analysis:
Region wise, the global metalworking tool holder market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global metalworking tool holder market share, and is anticipated to secure a leading position during the forecast period.

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Competition Analysis
Key players profiled in this report include 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, and BIG KAISER Precision Tooling Inc.

David Correa
Allied Market Research
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