Metalworking Tool Holder Market Expected to Reach $1.19 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Metalworking Tool Holder Market by Type, Machine Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” 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. 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.

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.

Major players such as BIG KAISER Precision Tooling Company, Haimer GmbH, and Sadvik AB launched new tool holder to the market. For instance, in September 2019,     BIG KAISER Precision Tooling Inc launched BBT30 tool holder for North American market. It is available in size of ¼”, 3/8”, ½”. 5/8” and ¾”. It will be used to fix shell mix loaders, end mill holders, shrink fit, and blanks.

Various manufacturers in the global metalworking tool holder had to shut down their businesses activities due to the lockdown initiated in countries such as UAE, India, Brazil, and others. This break has directly impacted the sales of micro motor manufacturing companies globally. For instance, the net sales of Sandvik AB dropped by 14.7% from March 2019 to March 2020. In addition, lack of raw materials, disruption in supply chain, and lack of man power halted the supply chain of tool holder products. However, the re-initiation of the tool holder industry and availability of vaccines for coronavirus disease are projected to lead to the opening of the global metalworking tool holder market at their full-scale capacities.

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.

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.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging global metalworking tool holder market trends and dynamics. 
• By type, collet chuck segment was the largest revenue generator in 2020.
• By machine type, the machining centers segment generated the highest revenue in 2020.
• By end user, the automobile segment accounted for the highest revenue in 2020.
• By region, Asia-Pacific is anticipated to dominate the global metalworking tool holder market throughout the study period.
• The report provides an extensive analysis of the global market trends and emerging opportunities of the market. 
• The global metalworking tool holder market forecast analysis from 2021 to 2030 is included in the report.