With a CAGR of 7.5% Tooling Market Cutting-Edge Innovations Reshape the Industry to Reach $439,994.9 million by 2030

Tooling Market Expected to Surpass $439.9 Billion by 2030-Allied Market Research

WILMINGTON, DELAWARE, UNITED STATES, April 23, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, The global tooling market size was valued at $212,500.0 million in 2020, and is projected to reach $439,994.9 million by 2030, registering a CAGR of 7.5% from 2021 to 2030. The key factors that drive the growth of the global market include increase in consumption of consumer electronics & electrical devices, growth in focus on product customizations specially in the automotive industry, and growth of the renewable energy systems.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐝𝐞 𝐒𝐜𝐨𝐨𝐩 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 -𝐡𝐭𝐭𝐩𝐬://𝐰𝐰𝐰.𝐚𝐥𝐥𝐢𝐞𝐝𝐦𝐚𝐫𝐤𝐞𝐭𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡.𝐜𝐨𝐦/𝐫𝐞𝐪𝐮𝐞𝐬𝐭-𝐬𝐚𝐦𝐩𝐥𝐞/𝟐𝟓𝟑𝟗

The report provides a comprehensive analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

By product type, the dies & molds segment registered highest revenue in 2020.

By end user, the automotive segment registered highest revenue in 2020.

Asia-Pacific is projected to register highest growth rate in the coming years.

The key players of the tooling market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the tooling industry.

The report provides an extensive analysis of the current trends and emerging opportunities of the market.

Therefore, rise in demand for wind power plants tends to put immense pressure on the manufacturing and tooling industries, which in turn develops better scope for improvement of modern tool manufacturing. On the contrary, introduction of 3D printing negatively affects the growth of the tooling market.

𝐌𝐚𝐤𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲: 𝐡𝐭𝐭𝐩𝐬://𝐰𝐰𝐰.𝐚𝐥𝐥𝐢𝐞𝐝𝐦𝐚𝐫𝐤𝐞𝐭𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡.𝐜𝐨𝐦/𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞-𝐞𝐧𝐪𝐮𝐢𝐫𝐲/𝟐𝟓𝟑𝟗

The report offers detailed segmentation of the global tooling market based on product type, end-user industry, and region.

Based on product type, the dies & molds segment accounted for the largest share in 2020, contributing to nearly two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the machine tools segment is projected to manifest the highest CAGR of 8.2% from 2021 to 2030.

Based on end-user industry, the automotive segment contributed to the highest market share in 2020, accounting for more than two-thirds of the global tooling market, and is expected to continue its leadership status during the forecast period. However, the electronics segment is estimated to portray the fastest CAGR of 11.1% from 2021 to 2030.

Based on region, Europe held the highest share in 2020, contributing to nearly two-fifths of the total share, and is projected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is expected to manifest the largest CAGR of 8.2% during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: 𝐡𝐭𝐭𝐩𝐬://𝐰𝐰𝐰.𝐚𝐥𝐥𝐢𝐞𝐝𝐦𝐚𝐫𝐤𝐞𝐭𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡.𝐜𝐨𝐦/𝐫𝐞𝐪𝐮𝐞𝐬𝐭-𝐟𝐨𝐫-𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧/𝟐𝟓𝟑𝟗

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Leading players of the global tooling market analyzed in the research include Bharat Forge, Doosan Machine Tools, Carlson Tool & Manufacturing Corp., Omega Tool Corp, Godrej & Boyce Manufacturing Co. Ltd., Samvardhana Motherson Group, Parpas S.p.A (GRUPPO PARPAS), Sandvik AB, Unique Tool & Gauge Inc., and Yamazaki Mazak Corporation.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Hand Tools Market - https://www.alliedmarketresearch.com/hand-tools-market

Power Tools Market - https://www.alliedmarketresearch.com/power-tools-market

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Market Research
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