The global foundry tools market is anticipated to grow at a CAGR of 2.5% during the forecast period (2024-2031). Apex Tool Group, BOMAG GmbH, Freeman Manufacturing & Supply Co., GIBA, Hitachi Construction Machinery Co., Ltd., Holmatro B.V., and so on are the key players operating in the global foundry tools market. With the growing demand for foundry tools in the automobile & construction industry & rising penetration of new players the existing players of foundry tools market are adopting different growth strategies such as mergers & acquisitions, production capacity expansion, new product launches, and partnerships among others to remain competitive in the marketplace.
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For instance, in March 2021, Sandvik has acquired Allied Construction Products to expand its Rammer product line beyond breakers and compactors in North America. With this acquisition, the company intends to become a full provider of excellent attachment tools across the region. In May 2018, Wacker Neuson has developed a new 3 metre hydraulic ride-on trowel for construction site workers. The CRT60X (CRT60-74LX) features a heavy-duty hydraulic system that includes a high capacity hydraulic pump and motors, as well as other ancillary components. These updates have been made to address the ever-increasing demands of the flatwork industry.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Apex Tool Group, BOMAG GmbH, Freeman Manufacturing & Supply Co., GIBA, Hitachi Construction Machinery Co., Ltd., Holmatro B.V., and so on.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Foundry Tools Market Report Segment
By Type
- Trowels
- Shovels
- Rammers
- Others
By Application
- Automotive
- Machinery & Equipment
- Aerospace & Defense
- Other
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