Technology to Play a Vital Role in Boosting Innovations: Companies contributing to the tool holders market are continually focusing on improving the tool holders to provide effective and next-generation tool holders to their customers. The increasing need to keep pace with technological developments along with the growing need to tackle competition encourages them to leverage the technologies for better precision and efficiency offerings. Companies providing tool holders are taking initiatives to align their products with cutting edge technologies.
For example, Seco tools, a key players in the tool holders market, has entered into a partnership with MachineMetrics in order to offer data-driven enhancements to its customers. Together with MachineMetrics, Seco is able to provide a deeper understanding of the tools in a real-time environment such as preventing breakage of tools, anticipating tool life and the optimization of speed and feed.
Increasing Investments Witnessed in Developed Nations Highlight Favorability for Manufacturers of Tool Holders Areas: The entire tool holders market is spread across the major regions in the world. The leading regions with developed economies are come across to be a focal point for tool holders market players. This majorly indicates the interest of key players in the tool holder market in the leading nations. Countries in Europe and the United States are offering immense opportunities in terms of investments for the tool holders market players.
For example, Sandvik Coromant announced the investment in the Sandvik Coromant Center based in Germany, which includes training facilities, design and project office, and a showroom. The company aims to improve the customer experience with such investments. Similarly, the company has also Dura-mill, the precision solid carbide end mills manufacturer, based in North America. With this acquisition, Sandvik Coromant would enhance its position in the North American market and improve its product offerings.
Tool Holders Market Players to Provide Advanced Products to Win over Competition: The key players in the tool holders market include BIG KAISER, SECO, Sandvik Coromant, KYOCERA UNIMERCO, GDP | GUHDO, Bilz Tool, Guhring, Inc, TAC Rockford, CERATIZIT S.A., KTA Spindle Toolings, Ingersoll Cutting Tool Company, Kennametal, FL TOOL HOLDERS, LMT Onsrud, and Gem Precision Tool (P) Ltd.
The major players providing tool handlers are manufacturing next-generation and advanced tool holders that help achieve greater competitive edge, while addressing the transforming needs of their customers.
A key manufacturer of tool holders, Big Kaiser expanded its range of tool holders as the company added a new size, C4, which was becoming popular for turret tooling on lathes as a quick change system. This reflects the company’s forward thinking approach for providing products that have great demand in the market.
In 2017, Sandvik Coromant launched a new range of tool holders that help machine shops in the implementation of the new methodology known as PrimeTurning that facilitates turning in all directions. Such offerings would allow the customers to make maximum use of the benefits of the methodology.
Another provider of tool holders, WNT, launched their innovative tool holders that enhance process security, in 2017. With the enhanced process security, the tool holders help in achieving reduced wear of spindle and improve machine performance.
Classification of the Tool Holders Market- Major Segments Analyzed: On the taper type basis, the tool holders market is segmented into NMTB, CNC tapers, Morse taper, V Flange Taper, HSK, Manual Tapers, BT Flange Taper, and R8.
Based on tool holder type, market for the tool holders is divided into end mill holders, collet chuck, hydraulic tool holders, shrink fit holders, milling cutters holder, and others.
The machine type segmentation of tool holders market includes segments such as Vertical Machine Center (VMC), CNC Turning Center, CNC Machining Center, Horizontal Machine Center (HMC), and others including CNC Lathe, CNC Drillers, etc.
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The end use segments based on which the segmentation of tool holders market is done include power generation, automotive, paper & pulp industry, chemical processing, medical/research, construction, general machining, defense & aerospace, electronics, and oil & gas.