Which tool is used to create a new component within the assembly environment?

The correct choice, New Component command, is specifically designed for creating a new component in the assembly environment. This tool allows users to define a new part or assembly and indicates that the component is being added to the assembly structure. When using this command, designers can specify various parameters such as the name, type, and properties of the component being created, facilitating better organization and management of the assembly.

In contrast, the other options serve different functions within the design process. For example, Component Designer focuses more on modifying or managing existing components rather than creating new ones. The Part Insertion Tool is primarily used for placing already-existing parts into an assembly instead of creating new components from scratch. Assembly Builder typically refers to a higher-level tool for managing an assembly but doesn’t specifically provide the functionality to create new components directly.