Albany, NY -- (SBWIRE) -- 04/20/2018 -- Taps and dies are specific tools that are used in threading that refers to the creation of threads around screws. There are several cutting and forming tools involved in the procedure. Taps are essentially used to cut or create the female part of the pair, whereas a die is generally used to form the male part of the pair, for instance, taps are used to form the nut whereas dies are used to form a bolt. Tapping is the term that refers to the process formation of threads or cutting while the term threading is associated with dies.
The global market for taps and dies is expected to grow at a listless rate in the coming years. Transparency Market Research in its recent research report on global taps and dies market has covered several scenarios associated with the growth of the market which associated with the adoption of taps and dies across various applications around the globe. Various aspects such as trends, key developments, growth drivers, restraints and challenges associated with the taps and dies market are covered in this extensive research report.
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According to this analytical research study, the 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.
Sales of Taps and Dies in Europe to Reflect a Higher Value During the Forecast Period
Europe has been a lucrative region for the growth of the taps and dies market since 2012. The use of taps and dies in Europe has been growing since the 2012-2016 timeline and is expected to reach a higher valuation by the end of the year of assessment. Moreover, 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.
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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, especially in European countries such as Germany, United Kingdom and France. Of these, Germany is the largest contributor for growth of the taps and dies market in Europe and the market in Germany is estimated to reach a valuation higher than US$ 200 Mn by the end of the year of assessment, whereas on the other hand, there is cut throat competition in taps and dies market in UK and France.
Asia Pacific excluding Japan (APEJ) region is the fastest growing that is expected to showcase increasing adoption of taps and dies owing to increasing household purposes and industrial projects in the region. North America is anticipated to be the second largest region with US being the main growth contributor in the region.
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Use of taps and dies in the industrial sector to fuel the overall market's growth
Taps and dies are widely used in household and industrial sectors across the globe. Of these the industrial application segment is expected to be the largest with a high market valuation and is anticipated to lead the global market for taps and dies. Also, this segment is projected to grow at a relatively high rate throughout the period of assessment, 2017-2026.
Competitive Analysis
The informative research report on global taps and dies market covers analysis of various key players involved in the market. Aspects such as company overview, key financial aspects, product portfolio, developments and strategies of the key players have been covered thus offering a complete intelligence package. Major players such as Kennametal, Cleveland, Triump Twist Drill, Titex Tools, Guhring, Chicago Latrobe, OSG, Michigan Drill, Accupro, M.A. Ford, Atrax and Kyocera have been profiled in this research report.