Asia & Middle East Automotive Tooling (Molds) Market by Type (Plastic Molds; Forged Products; and Gauges, Jigs & Fixtures) - Opportunity Analysis and Industry Forecast, 2017-2023
The Asia & Middle East automotive tooling (molds) market is expected to reach $27,148 million in 2023, from $18,564 million in 2016, growing at a CAGR of 5.7% from 2017 to 2023. Automotive tooling systems are mechanically or electrically powered equipment that facilitate conversion of raw materials into desired shape and size for manufacturing of automobiles. These systems are used in the production of powertrain components & systems, gears, drive shafts, bumpers, doors, and assembly of various components to name a few. Furthermore, they provide assistance in delivering aftersales services and maintenance-related activities.
The Asia & Middle East automotive tooling (molds) market is expected to witness moderate growth, as plastic molds provide assistance in reducing the overall weight of the automotive, enhance the comfortability of the interiors, and offer flexibility in designing the interiors. Furthermore, rise in disposable income, especially in the emerging economies, fuels the demand for automobile, thereby driving the growth of the automotive tooling market. In addition, automotive tooling systems possess versatile benefits such as reduced labor costs, design flexibility, high output production, and quality consistency. However, high cost of installation is expected to hinder the growth in the future. 3D printing enables fabrication of sophisticated automotive parts without additional mold change prices, which further restrains the market growth. Conversely, the integration of tooling in industrial robotics that enables automation of processes is expected to provide lucrative growth opportunities for the automotive tooling manufacturers over the next few years.
The Asia & Middle East automotive tooling (molds) market is segmented on the basis of type and geography. Based on type, the market is divided into plastic molds; forging; and gauges, jigs, & fixtures. Geographically, it is analyzed across Asia and Middle East. Asia is further segmented into Southeast Asia, Australia, and South Asia.
The key players operating in the market include AABCO Machine Technology Sdn Bhd, Bharat Forge Limited, EL Forge Limited, Eneel Precision Engineering Sdn Bhd, Kisaan Steels (P) Ltd., Mechanite Engineering Solutions, MQ Precision Hardware Co., Ltd., NTN Corporation, SR Green Products, Sumitomo Corporation, Tokai Engineering Private Limited, and Y-Tec Corporation.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the Asia & Middle East automotive tooling (Molds) market and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
Asia & Middle East Automotive Tooling (Molds) Market key SEGMENTS:
Gauges, Jigs and Fixtures
Rest of Middle East
KEY MARKET PLAYERS PROFILED IN THE REPORT
AABCO Machine Technology SDN BHD
Bharat Forge Limited
EL Forge Limited
Eneel Precision Engineering SDN BHD
Kisaan Steels (P.) Ltd.
Mechanite Engineering Solutions
MQ Precision Hardware Co., Ltd.
SR Green Products
Tokai Engineering Private Limited
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