Special die, tool, die set, jig and fixture market produce special type of tools & fixtures for instance cutting dies and jigs. These establishments are also identified as tool & die shops. These tools are generally used to convert the raw materials into a required shape in several manufacturing industries including electronics, automobiles, metalworking and plastic manufacturing. Dies, jigs and other tools are usually used as an attachment to the machine. Growth in manufacturing, construction, and automotive industries, improved efficiency, time effectiveness, and precision & accuracy provided across metalworking industries such as automobile & manufacturing industries are anticipated to drive the special dies, jigs, and other tools market during the forecast period.
As per analysis, “Special Die And Tool, Die Set, Jig, And Fixture Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global special die & tool, die set, jig and fixture market include MISUMI Group Inc.; Kennametal, Inc.; Roto-Die Company, Inc.; Midway Rotary Die Solutions; ALLMATIC-Jakob Spannsysteme GmbH and among others. The leading manufacturers are using advanced 6-axis CNC milling machines to efficiently fabricate complex components. These CNC machines are special type of computer numerical controlled machine that involves the use of computers for controlling the machine tools like mills, grinders, lathes and router. This 6-axis CNC machines convert the raw metal bar into the final product by turning from both end of the fixture.
Based on type, special die, tool, die set, jig and fixture market is segmented as jigs, stamping and other tools, dies, fixture and others. The stamping segment dominates the global market as these tools provide quick & cost-effective solutions for metal processing. In addition, based on application, market is segmented as automotive and others.
Growth in automotive industries, followed by increase in import & export activities and growth of manufacturing industries are some major factors, which are responsible for growth of the special die & tool, die set, jig and fixture market. Apart from this, increase in raw material prices is a major restraining factor for market.
Based on geography, the Asia-pacific region holds major share in global special die & tool, die set, jig and fixture market owing to low labor cost, growth in economy, rise in sales of vehicles, and continuous increase in ease of doing business across the region. The North-America is the second largest region in the market due to presence of major market players and growth in investments in the aviation, automotive, and food processing & packaging industries in the region. The Europe region is estimated to witness higher growth rate because of increase in the adoption of advanced technology, increase in import & export activities coupled with growth in manufacturing industries for automotive, electronics, machine tools, consumer products, and others over the forecast period. It is projected that future of the global special die & tool, die set, jig and fixture market will be bright on account of growth in renovation of existing infrastructure during the forecast period.
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Ankur Gupta, Head Marketing & Communications