Dies, Jigs And Other Tools Market Definition
The dies, jigs and other tools market consists of sales of special tools and fixtures such as cutting dies and jigs and related goods by entities (organizations, sole traders and partnerships) that provide dies, jigs and other tools.
These tools are used to convert raw materials into a required shape in various manufacturing industries such as automobiles, metalworking, electronics and plastics manufacturing. Dies, jigs and other tools are generally used as an attachment to a machine.
Dies, Jigs And Other Tools Market Size
The global jigs and fixtures and dies manufacturing market reached a value of nearly $56.8 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.6% from 2014, and is expected to grow at a CAGR of 9.3% to nearly $88.8 billion by 2023.
In the historic period the main drivers of the market were the rise of manufacturing activity in emerging markets and increased spending on construction projects, while the main restraints were fluctuating raw material prices.
Going forward, the main drivers of the market will be growth in the automobile industry, technological advances and growth in consumer markets, while the main threat is trade protectionism.
Dies, Jigs And Other Tools Market Drivers
The key drivers of the dies, jigs and other tools market include:
Increased Spending on Construction Projects – The dies, jigs and other tools market benefitted from the rise in metal consumption by construction industry globally, during the historic period. Buildings with metal structures have become a standard choice for the construction of commercial and industrial facilities. For instance, around 40 million tons steel was used in the construction industry in the US in 2018. According to the USA’s Metal Building Manufacturers Association (MBMA) 34% of its members’ sales are generated from commercial buildings. This rise in metal consumption increased the demand for tools used for welding positioners, jigs and cutting dies, thus driving the market during this period.
Dies, Jigs And Other Tools Market Restraints
The key restraints on the dies, jigs and other tools market include:
Trade Protectionism – Trade barriers are expected to have a negative impact on the dies, jigs and other tools market. Many countries are placing trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed 25% tariff on steel and 10% tariff on aluminum, in 2018. Steel and aluminum are extensively used in manufacturing of these tools. These trade restrictions are likely to limit the growth of demand going forward by leading to raised prices.
Dies, Jigs And Other Tools Market Trends
Major trends influencing the dies, jigs and other tools market include:
Automation in Tools Manufacturing – Automation tools and robotic solutions are being used by tool manufacturers to reduce downtime and increase productivity. Automatic tools include the use of computerized control systems for operating manufacturing equipment. Major automatic tools include smart camera systems, intelligent control systems, shop floor monitoring systems, 3D vision technology and robotic material handling systems. Robots allow faster assembling of complex components as compared to traditional manufacturing techniques. Robots automate milling, trimming, drilling, cutting and forming processes, thereby reducing the production time. Automation further enables machine manufacturing companies to significantly increase production volumes with automation technologies, thereby decreasing production costs and increase profit margins. Major companies using automation include DMTG, DMG Mori, SMTCL, Mazak, and Haas Automation.
Additive/3D Printing Manufacturing – Tool manufacturers are increasingly deploying additive manufacturing technologies to offer customized designs to customers. Additive manufacturing refers to the application of 3D printing to create functional components including prototypes, tooling and end-use production parts. Additive manufacturing aids in cost-effective production of small batches of intricate parts and complex part designs. It provides a high degree of design freedom, optimization and integration of functional features, and product customization. Major companies using additive manufacturing include ExOne, EOS, ConceptLaser, XJet, Renishaw.
Opportunities In The Dies, Jigs And Other Tools Market
Opportunities – The top opportunities in the global dies, jigs and other tools market will arise in the stamping and other tools segment which will gain $22.7 billion of global annual sales by 2022. The dies, jigs and other tools market size will gain the most in China. Dies, jigs and other tools market-trend-based strategies include the investing in automation technologies, deploying laser cutting technologies to enhance production capacities, investing in additive manufacturing technologies, and invest in 6-axis CNC milling machines. Player-adopted strategies in the dies, jigs and other tools industry include investing in technologies to offer advanced welding positioners, investing in plant modernization programs, expanding business through offering diverse portfolio, and invest in new technology.
Dies, Jigs And Other Tools Market Segmentation
The Dies, Jigs And Other Tools market is categorized by segment, and by geography.
By Segment -
The dies, jigs and other tools market is categorized by segment into
The stamping and other tools segment accounted for the largest share of the die set, jig and fixture manufacturing market in 2018, mainly due to extensive use of stamping and other tools to give shape to metal products and to the higher price of these tools compared with dies and jigs and fixtures.
- a) Stamping and Other Tools
- b) Jigs and fixtures
- c) Dies
By Geography- The dies, jigs and other tools market is segmented into
Asia Pacific was the largest region in the jigs, tool and die manufacturing market in 2018, accounting for 45.6% of the global market. It was followed by North America and Western Europe. Going forward, the fastest growth in the dies, jigs and other tools manufacturing market will take place in Asia Pacific, followed by Eastern Europe.
- o North America
- o Western Europe
- o Asia Pacific
- o Eastern Europe
- o South America
- o Middle East
- o Africa
Dies, Jigs And Other Tools Competitive Landscape
Major Competitors are:
Other Competitors Include:
- • Kennametal, Inc.
- • MISUMI Group Inc.
- • Roto-Die Company, Inc.
- • ALLMATIC-Jakob Spannsysteme GmbH
- • Midway Rotary Die Solutions
- • Norelem SAS
- • Asahi Tools Mfg. Co., Ltd.
- • Unique Tool & Gauge Inc.
- • Heinrich Kipp Werk KG
- • Magor Designs Limited