Gold Jewellery Crafting Tools Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Gold Jewellery Crafting Tools Market by machinery type (angle ring turning machine, casting machine, chain making machine, gold refinery, and soldering machine) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Gold Jewellery Crafting Tools Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023.
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The Increasing Popularity of Gold Plated Jewellery is driving the Demand for Gold Plating Tools and Machinery
The increasing demand for traditional designs drives the demand for jewellery crafting tools for traditional way of manufacturing. The export oriented manufacturers prefer to improve productivity and reduce manufacturing cost and it is driving the demand for the automatic jewellery crafting machinery. The growth of E-commerce has improved the reach of the gold jewellery to smaller towns and cities and it is aiding the increasing sales of gold jewellery. The orders from far away countries are also now becoming normal. To meet this demand, to increase the production capacity, jewellery manufacturers are buying more jewellery crafting tools. The demand for Jewellery crafting tools and machinery through e-commerce websites are also increasing steadily. The emergence of homemade jewellery for sale through social media and e-commerce websites are also driving the demand for gold jewellery crafting tools market.
Higher gold price fluctuation affect the demand of gold and gold jewellery and it hinders the growth of the gold jewellery crafting tools market. Since gold jewellery crafting tools and machinery are imported in many regions, the taxes and other duties restrain the growth of market. There are growth opportunities for manufacturers of gold jewellery crafting tools in gold resource rich developing countries and low income countries, where there is relatively less infrastructure for jewellery manufacturing. Likewise, there is opportunity in high gold consuming nations, as the demand for contemporary and traditional jewellery will continue to grow.
Segments Covered in this Premium Report
The report covers the analysis of global as well as regional markets of gold jewellery crafting tools market. Moreover, the global gold jewellery crafting tools market is segmented by tool type. The global gold jewellery crafting tools market by tool type covers bench tools, casting tools,cutting tools, drawing tools, drilling tools,engraving tools, forming tools, measuring tools, polishing & finishing tools, plating tools and soldering& torching tools among others. On the basis of machinery type, the market is segmented as bangle ring turning machine, casting machine, CNC machine, chain making machine, gold refinery, hand presses, hammering machine, soldering machine, threading machine,and wire& sheet rolling machine among others.
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Growing Demand for Gold Jewellery in Traditionally Highly Consuming Countries Such As China and India Drive the Growth of the Gold Jewellery Crafting Tools Market
The global gold jewellery crafting tools market covers the analysis of geographies such as North America, Europe, Asia-Pacific and RoW. In this section, the key trends and market size for each region is provided over the period of 2017 – 2023. Among geographies, Asia-Pacific is the largest jewellery crafting tools market, followed by North America and Europe. Presence of major gold consuming countries such as China and India, which accounts for more than 50% of gold demand, drives the Asia-pacific gold jewellery crafting tools. Small manufacturers have large presence in crafting tool and machinery segments. As there is a greater demand for traditional designs for weddings, the demand for tools is increasing as people in the region prefer locally manufactured jewellery. In North America, the demand for gold for gifting during important festivals, for weddings and as contemporary metal for aesthetics drives the demand for jewellery crafting tools. Growing demand for cutting edge tools for making classical and trendy European design jewellery drives the growth of the market in Europe.