End Mill Holders Market – Introduction
End mills are cutting tools that are used for making holes and shapes in a work piece during drilling, milling, slotting, and other applications. An end mill holder provides a support area for the end mill. It has small nose diameters and is available in a variety of lengths in the market. The increasing demand for end mill holders from the manufacturing sector helps in the growth of the end mill holders market.
Key Drivers of the End Mill Holders Market
- End mill holders provide quality performance and versatility. The high accuracy of the end mill holders ensures that cutting tools stay on centerline, distributing the chip load evenly, and significantly expanding cutting tool life. They are also easy to use and available in various sizes in the market. These factors increase the demand for end mill holders in the market.
- Automotive, construction, aerospace, defense, electronics, transportation, and other industries widely use end mill holders for manufacturing parts. Growth of these industries worldwide is expected to drive the demand for end mill holders and help in the growth of the market.
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Factors Restraining the End Mill Holders Market
- End mill holders are prone to some problems. During a breakage, the cutting tool may damage the end mill holder and it becomes difficult or impossible to repair. In addition, after the outbreak of the Covid-19 pandemic, many manufacturing plants across the globe halted their activities; this hampered the growth of the end mill holders market.
North America to Hold Leading Share of the Global End Mill Holders Market
- In terms of region, the global end mill holders market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the end mill holders market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The end mill holders market in South America is segmented into Brazil and Rest of South America.
- North America dominated the global end mill holders market in 2020, due to growth in the manufacturing sector in the region. Increasing demand has been driving the end mill holders market in North America, particularly in the U.S and Canada.
- The end mill holders market in North America is projected to expand at a rapid pace, followed by Asia Pacific and Europe during the forecast period.
Key Players Operating in the End Mill Holders Market
The global end mill holders market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global end mill holders market are:
- Sandvik Coromant
- Suncoast Precision Tools, Inc.
- Sowa Tool
- Cutwel Ltd
- Bolton Group, Inc.
- Techniks Tool Group.
- Briney Tooling
- Ingersoll Cutting Tool Company
- Toolmex Industrial Solutions
- Chronos
Global End Mill Holders Market: Research Scope
Global End Mill Holders Market, by Taper Type
- R8
- Morse Taper
- V-Flange Taper
- BT Flange Taper
- HSK
- Others
Global End Mill Holders Market, by End-use Industry
- Automotive
- Defense
- Construction
- Electronics
- Manufacturing
- Others (Aerospace, Transportation, etc.)
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