Tool and die market indicators
The "Special Die and Tool, Die Set, Jig and Fixture Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global special die and tool, die set, jig and fixture market is expected to grow from US$ 66.49 billion in 2020 to US$ 70.61 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities that resulted in operational challenges. The market is expected to reach US$ 95.63 billion in 2025 at a CAGR of 8%.
Asia Pacific was the largest region highlighted, accounting for 51% of the market in 2020. North America was the second largest region accounting for 21% of the market. Africa was the smallest region.
“Rapid advances in technology are expected to drive innovation in special die and tool, die set, jig and fixture manufacturing. Technologies (such as 3D printing, Artificial Intelligence and Big Data analytics) are being used, resulting in higher productivity, lower operating costs and higher margins. For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on company growth and 86% of respondents considered that AI will help improve productivity,” added the report.
For more information about this report, visit https://www.researchandmarkets.com/r/8htgb0