Global market for taps and dies is expected to grow at a sluggish CAGR to reach a market estimation of over US$ 2.3 Bn by the end of the year of assessment from a value of around US$ 1700 Mn in 2017.
Albany, NY -- (SBWIRE) -- 03/13/2018 -- Market Research Hub (MRH) has freshly publicized a new study titled "Taps and Dies Market - Global Industry Analysis, Size, Growth, Trends, Share and Forecast 2017 – 2026" to its massive collection of research database. The study offers a holistic outlook on the market covering market trends, factors along with industry growth prospects from 2012 to 2017, and forecast to 2026. The report also highlights opportunities in the taps and dies market at the global and regional level. Prime regions emphasized in the study are North America, Japan, Europe, the Asia Pacific excluding Japan, Middle East & Africa (MEA), and Latin America; these are analyzed in terms of market revenue.
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Taps and dies are basically two tools that are used to create screw threads, more commonly referred to as just a thread. Tapping is the term that refers to the process formation of threads or cutting while the term threading is related to dies. It has been analyzed that the adoption of taps and dies across various applications around the globe has given a positive impetus to its market growth. Applications of taps and dies include industrial, household and DIY.
Key Highlights from the Study
As per the latest evaluations, the global market for taps and dies is likely to reach a market value of US$2.3 Bn by the end of 2026, which was estimated of over US$ 1700 Mn in 2017. At this value, the market is also forecasted to exhibit a sluggish CAGR of 3.8% during the mentioned forecast.
In terms of geography, analysts find that the European market is expected to be the largest and the region is expected to dominate the global taps and dies market in the coming years. The growth of taps and dies market in Europe is mainly pushed by increasing adoption of taps and dies across industrial and household sectors in the region.
Further, the market research has been broadly categorized on the basis of product type, application and sales channel. With respect to product type, the global market for taps and dies is further segmented into carbon steel, alloy steel, high-speed steel and tin coated. By sales channel, the global taps and dies are expected to witness increased sales via retail and online channels.
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Later, the competitive landscape offered in the report is a valuable resource for readers, as it helps in gauging the complete competitive scenario in the market. Their details such as key strategies, SWOT, organization overview, market share, financials, developments and product portfolios are also covered in this subsequent section. Major players profiled in the study include Titex Tools, Michigan Drill, Kennametal, Cleveland, Guhring, Triump Twist Drill, Chicago Latrobe, OSG, Accupro, M.A. Ford, Atrax and Kyocera.
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