According to the recent research report titled ‘Global Metalworking Tool Holder Market Size study, by Type (Milling Chucks, Collet Chuck, Hydraulic Toolholders, and Others), by Machine Type (Machining Centers, Lathe Machines, Gear Cutting Machines, Laser Cutting Machines, and Others), by End User (Automobile, Aerospace & Defense, Electronics, Power & Energy, and Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global metalworking tool holder market is projected to showcase a robust CAGR over 2021-2027.
 

Global metalworking tool holder market is experiencing strong growth due increase in defense equipment manufacturing and expanding automobile industry. Moreover, reliable sources cite that light vehicle manufacturing is predicted to rise from 70 million units in 2020 to around 93 million units in 2025.
 

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Furthermore, the expansion in the machinery and equipment manufacturing sectors is anticipated to accelerate the market expansion in the upcoming years, claims the study.
 

For the unversed, a metalworking tool holder is a holding device or piece of equipment used in the manufacturing industry to fixate tools in the proper position. These tool holders come in cylindrical and conical designs, and are employed in the drilling, boring, and milling sectors due to their accuracy, stiffness, balance, and power.
 

Despite the positive outlook of worldwide metalworking tool holder market, growing acceptance of laser cutting technology is likely to act as a major challenge for businesses operating in this domain.
 

Elaborating on geographical ambit, North America, Latin America, Europe, Asia Pacific are the key regions studied for the regional analysis of this business vertical. Asia Pacific is projected to account for a major portion of market revenue over the next five years, owing to rapid industrialization and urbanization, expansion of the manufacturing sector in developing countries, and rising investments from key defense, infrastructure, and aerospace manufacturers.
 

Coming to competitive landscape, Big Kaiser Precision Tooling Inc., Collis Toolholder Corporation, Schunk GmbH & Co KG, Haimer GmbH, Ingersoll Cutting Tool Company, Kyocera Unimerco Tooling A/S, Ceratizit S.A., Kennametal Inc., Guhring Inc., and Sandvik AB are the major players influencing the market trends.