End Mill Holder Market

COVID-19 Impact Analysis

• The COVID-19 pandemic ceased the production of various products in the end mill holder industry, which is attributed to the global lockdown. This has hampered the growth of end mill holder market in the years  and a similar trend is expected to be seen in the first half of 2022.
• The major demand for end mill holder was previously noticed from giant developed and developing countries, including the U.S., Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for end mill holder.
• Further, the long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. End mill holder manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• End mill holder manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

The demand for automotive components is rising rapidly in many countries, such as China, India, and the U.S. This is anticipated to boost the demand of end mill holders. One of the major factors driving demand in the end mill holder market is the rapid rise in the custom manufacturing industry as a result of rapid industrialization. Furthermore, increase in number of manufacturing facilities across the globe is anticipated to drive the demand for end mill holders. However, the fluctuations in the prices of raw materials used for manufacturing end mill holders are one of the restraining factors hindering the growth of end mill holder market. Contrarily, technological developments in end mill holder products, such as adoption of new stronger and more durable materials for manufacturing end mill holder boost the durability of the equipment, as well as result in lowering the prices and weight of end mill holder. This is anticipated to create lucrative opportunities for the growth of end mill holder market during the forecast period.

Market Trends

• Key players in the end mill holder market have adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in September 2021, JIS Distribution LLC, a distributor of industrial tools including end mill holders, acquired principal assets of Erie Tool & Supply Co. operating in the same business. This acquisition allows JIS to build on its reputation as the largest, most technically advanced industrial distributor in Ohio and the U.S. This acquisition will enable JIS to expand geographically and strengthen their relationships with Ohio customers.
• Moreover, business expansion strategies also assist in enhancing the geographic footprint of the company and help in gaining significant market share for end mill holder products. For instance, in December 2021, India-based Birla Precision Technologies Ltd., an automotive and engineering company, laid down the foundation stone of its 5th manufacturing facility in Maharashtra, India. The facility is set to increase the manufacturing capacity while also enhancing the geographic foothold in the region.

Key Benefits of the Report

• This study presents the analytical depiction of the end mill holder industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the end mill holder market share.
• The current market is quantitatively analyzed to highlight the end mill holder market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed end mill holder market analysis based on competitive intensity and how the competition will take shape in coming years.