Global metal cutting tools market is witnessing steady growth and is projected to cross $ 38 billion by 2024. The market is expected to grow on account of increasing demand for metal cutting tools from automotive and aerospace & defence sectors. Replacement of the traditional manufacturing techniques with 3D printing significantly reduces the capital costs, raw material costs, and costs to reclaim scrap, which is expected to positively influence the global metal cutting tools market in the coming years.
In terms of materials, the global metal cutting tools market is categorized into carbide, ceramics, CBN & PCD, and others. Among the materials, the carbide category is predicted to grow at a healthy pace and continue its dominance as the largest material segment over the course of the next five years. In term of process segmentation, the milling process occupied the largest share, followed by turning process in 2018.
From the geographical perspective, the global metal cutting tools market is categorized into Asia-Pacific, North America, Europe, Middle East & Africa and South America. Among these, North America region is expected to dominate the metal cutting tools market during the forecast period. However, Asia-Pacific is expected to witness fastest growth among all the region over the next five years.
The global metal cutting market is highly fragmented with the presence of numerous players. Some of the major players operating in the global metal cutting market are Sandvik, ISCAR, Kennametal, OSG USA INC., Tungaloy Corporation, Hitachi Metals, Sumitomo Electric, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size of global metal cutting tools market
- To forecast global metal cutting tools market based on material, process, end-use and regional distribution
- To identify drivers and challenges for global metal cutting tools market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. In global metal cutting tools market
- To conduct the pricing analysis for global metal cutting tools market
- To identify and analyze the profile of leading players operating in the global metal cutting tools market
We performed both primary as well as exhaustive secondary research for this study. Initially, we sourced a list of Metal Cutting Tools manufacturers across the globe. Subsequently, we conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, we could include the suppliers which could not be identified due to the limitations of secondary research. We analyzed the product offerings, distribution channels and presence of all major Metal Cutting Tools manufacturers across the globe.
Key Target Audience:
- Metal cutting tools manufacturers, suppliers, distributors and other stakeholders
- Major end users
- Organizations, forums and alliances related to metal cutting tools market
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders, besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global metal cutting tools market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Material
o CBN & PCD
o Others (HSS, Cast Alloys)
- Market, By Process
- Market, By End-Use
o Aerospace & Defense
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America
Company Profiles: Detailed analysis of the major companies present in global metal cutting tools market.
With the given market data, we offer customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).