Global Knurling Tool Accessories Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
Knurling tool attachments are known for their strength and accuracy well as their ability to be used in various ways – qualities that are fueling a rise in popularity for these tools among industries requiring textured and non slip surfaces such as metalworking firms and those in the automotive and aerospace sectors along with other fields relying heavily on machinery technology advancements like automation are also playing a role, in boosting their demand even more.
Market Key Insights
- The Knurling Tool Accessories market is projected to grow from $339.1 million in 2024 to $661 million in 2034. This represents a CAGR of 6.9%, reflecting rising demand across Industrial Machinery Manufacturing, Automotive Industry and Aerospace & Defense.
- Dorian Tool International, Jones & Shipman, DT Technologies are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Knurling Tool Accessories market and are expected to observe the growth CAGR of 4.5% to 6.6% between 2024 and 2030.
- Emerging markets including Vietnam, Indonesia and UAE are expected to observe highest growth with CAGR ranging between 7.9% to 9.5%.
- Transition like Increased Automation is expected to add $44.5 million to the Knurling Tool Accessories market growth by 2030
- The Knurling Tool Accessories market is set to add $322 million between 2024 and 2034, with manufacturer targeting Automotive & Construction Tools Applications projected to gain a larger market share.
- With Increasing metalwork operations, and Advancements in manufacturing technology, Knurling Tool Accessories market to expand 95% between 2024 and 2034.
Opportunities in the Knurling Tool Accessories
Emerging markets experiencing industrial expansion present a promising opportunity for the market of Knurl Tool Accessories to flourish further in the Asia Pacific region with countries like India and China poised for growth in this sector due, to their booming manufacturing industries.
Growth Opportunities in North America and Europe
North America Outlook
In the North American market, the demand for Knurling Tool Accessories has seen a steady increase, propelled largely due to the regions robust industrial sector and its consistent embracement of advanced manufacturing technologies. With material industries such as automotive, aerospace, and heavy machinery production leading growth, the region holds substantial opportunities for Knurling Tool Accessories. Highly technological advanced industries in this region find great utility in using Knurling Tool Accessories for intricate design and detailed manufacturing. Market competition in this region is fierce with several leading manufacturers such as Knurl-Craft and CuttersTool among others. The rising need for customization in material fabrication and an emphasis on product quality are key drivers promoting the adoption of Knurling Tool Accessories in North America.
Europe Outlook
The European market, known for strict design and quality regulations in manufacturing industries, is another crucial region for Knurling Tool Accessories. Core industries, particularly automotive, medical equipment manufacturing, and aerospace are the main demand centers for these accessories. Prominent players like RigidTools and EuroKnurl dominate the European market, making the competitive landscape diverse and mature. Notably, Europe's advanced industrial automation trend is a dominant driving force accelerating the utilization of Knurling Tool Accessories. Moreover, significant R&D investments from the European Union to stimulate innovation in the industry further incentivize the markets upward trajectory.
Market Dynamics and Supply Chain
Driver: Increasing Metalwork Operations, and Growth in Automotive and Aerospace Industries
The manufacturing industry is also quickly embracing cutting edge technology to enhance production efficiency. With the incorporation of Computer Numerical Control machines into the production process and the essential role of knurling tool accessories in achieving outcomes the demand, for top notch and precise knurling tool accessories continues to rise significantly in the market.
Restraint: High Production Costs
Opportunity: Technological Advancements in Knurling Tool Accessories and Strategic Collaborations and Alliances
In the manufacturing and DIY tool sector lies another market opportunity through strategic partnerships, with key industry players. These collaborations aim to facilitate the creation and delivery of Knurl Tool Accessories of top notch quality that cater to diverse customer requirements and broaden market outreach.
Challenge: Technological Challenges
Supply Chain Landscape
United Metal Materials Co. Ltd
Advanced Metallurgical Group N.V
General Turning Tools Inc.
Manchester Tool Company
McMaster-Carr Supply Co.
MSC Industrial Supply Co
Automotive Industry
Aerospace Industry
Manufacturing Sector
United Metal Materials Co. Ltd
Advanced Metallurgical Group N.V
General Turning Tools Inc.
Manchester Tool Company
McMaster-Carr Supply Co.
MSC Industrial Supply Co
Automotive Industry
Aerospace Industry
Manufacturing Sector
Applications of Knurling Tool Accessories in Industrial Machinery Manufacturing, Automotive Industry & Aerospace & Defense
The industrial machinery manufacturers are key consumers of knurling tool accessories. Here, Swivel head knurling tools are usually preferred due to the versatile rolling action that aids in producing accurate and uniform diamond, straight or diagonal knurls on various metal surfaces. This sector relies on manufacturers like KnurlCraft and Eagle Rock, known for their high-quality accessories and wide range of product offerings to suit different industrial requirements.
In the automotive industry, knurling tool accessories are extensively employed in the production of parts like gear shift knobs, hand brakes, and radiator caps. Quick-change knurling tools are sought after in this industry due to their ability to provide quality knurling patterns swiftly. Top players such as Eagle Rock and Form Roll cater to these requirements by offering high-performance accessories that improve productivity and quality standards.
Precise knurling operations are a necessity in the aerospace and defense sectors. Here, the use of precision knurling tool accessories is widespread in producing intricate components. Adjustable knurling tools dominate in this region for their efficient adaptability to the knurling process. Leading suppliers, such as HSS and Kendall, deliver superior quality knurling tool accessories that ensure accurate and durable finishes, helping to uphold the stringent manufacturing standards of these industries.
Recent Developments
Knurling tool manufacturing giant, Becker Tools, announced its merger with leading accessory brand KnightPro to optimize production and market penetration in the knurling tool accessories market
Tech-Tronics, a well-known name in manufacturing precision-based tools, launched a new line of advanced knurling tool accessories to enhance durability and precision for users
Austenitetools, a leading provider in the domain of knurling and cutting tools, introduced eco-friendly knurling tool accessories made from 100% recycled material, marking a significant shift towards sustainability within the industry.