AP NEWS

Asia & Middle East Automotive Tooling (Molds) Market by Type - Opportunity Analysis & Industry Forecast 2017-2023, With an Expected CAGR of 5.7% - ResearchAndMarkets.com

July 4, 2018

DUBLIN--(BUSINESS WIRE)--Jul 4, 2018--The “Asia & Middle East Automotive Tooling (Molds) Market by Type (Plastic Molds; Forged Products; and Gauges, Jigs & Fixtures) - Opportunity Analysis and Industry Forecast, 2017-2023” report has been added to ResearchAndMarkets.com’s offering. 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. 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. Companies Mentioned:

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 Y-Tec Corporation

Key Topics Covered: 1 Introduction 2 Executive Summary 3 Market Overview 4 Asia & Middle East Automotive Tooling (Molds) Market, by Type 5 Asia & Middle East Automotive Tooling (Molds) Market, by Geography 6 Company Profiles For more information about this report visit https://www.researchandmarkets.com/research/sbfv68/asia_and_middle?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180704005040/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics:Automotive Manufacturing

KEYWORD: ASIA PACIFIC MIDDLE EAST

INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE OTHER AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 07/04/2018 04:25 AM/DISC: 07/04/2018 04:25 AM

http://www.businesswire.com/news/home/20180704005040/en

AP RADIO
Update hourly