About Precision Tool
Precision tooling involves machining components through milling, shaping, deforming and other processes to match exact specifications6. These tools are used to assemble products with tight tolerances in industries like aerospace, defence and automotive where parts have to work as intended. Precision tools include lathe machines, milling machines, electrical discharge machining (EDM), drilling machines, boring machines, gear cutters, saws and grinders. The precision tool market is driven by the need for accuracy in complex machining, miniaturization of circuit boards and precision quality in applications like industrial automation equipment, automotive parts, medical implants and consumer goods. Computer Numerical Control (CNC) has a big market share due to its accuracy, low cost of operation and ability to work on various materials. Modern precision tools are evolving with 3D, laser and digital interfaces to give maximum accuracy.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bosch (Germany), Komatsu (Japan), Schuler (Germany), Hoffmann Group (Germany), Haas Automation, Merrill Tool & Machine, Trelleborg (Sweden), Yamazaki Mazak (Japan), Index Group (India), Makino (Japan) and Hitachi (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Precision Tool market by , Application (Automotive, Aerospace and Defense, Medical and Healthcare, Electronics and Energy and Industrial) and Region.
On the basis of geography, the market of Precision Tool has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Type, the sub-segment i.e. Cutting Tools will boost the Precision Tool market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Manufacturing Companies will boost the Precision Tool market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. High-Speed Steel will boost the Precision Tool market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.