Metal Cutting Tools Market Overview
Metal cutting tools are machine tools that ensure the effective manufacturing of critical and complex components with ease and precision. Metal cutting tools are driven by electric motors and are used for one of many cutting processes that contain turning, milling, grinding, and boring, to complete the desired cut on the metal workpiece. Metal cutting tools have different forms which contain plasma cutters, fiber cutters, and laser cutting devices. These devices are estimated to have a positive impact on the market as they offer a high degree of precision. The global Metal Cutting Tools market is expected to rise at a considerable rate in the next few years.
The tremendous growth in the automotive industry is one of the significant factors that boots the growth of the Metal Cutting Tools market. Additionally, this market is projected to enlarge owing to growth assisted by a recovery in key end-use markets in the developed world. Besides, the increasing production of light vehicles will generate a large demand for new welded automotive components, as a result, making huge demand for metal cutting tools in the forecast period. Further, these tools will continue to account for the majority of the total machine tools market. These key factors support the development of the global Metal Cutting Tools market serially.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Product Type, Application, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | BIG KAISER Precision Tooling Inc., Kennametal, Nachi-Fujikoshi Corp., OSG USA, INC., Sandvik AB, Ceratizit S.A., Dewalt, Fraisa SA, Guhring, Inc., Kilowood Cutting Tools, Xiamen Golden Egret Special, Alloy Co. Ltd., Zhuzhou Cemented Carbide Cutting Tool Co. Ltd., Tiangong International Co., LIMITED, Ingersoll Cutting Tool Company, Sumitomo Electric Hartmetall GmbH, Kyocera Unimerco, ISCAR LTD. |
Covid-19 Impact on Metal Cutting Tools Market
Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumer's purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of the consumers have shifted towards online shopping from March 2020 to December 2020.
Metal Cutting Tools Market Segment Overview
Based on Product Type, the Milling tools are anticipated to hold the maximum share in the global Metal Cutting Tools market during the forecast period as they find an extensive variety of use in the automotive and aerospace industries. A Milling Tool is a cutting tool used in milling machines or machining areas to perform milling operations. The material that needs to be cut is removed by its movement within the machine across the milling tool. The milling tool remains fixed at its position. Milling tools can cut the materials either from the center or non-center cutting. In addition to this, in the oil and gas industry, these tools are used in cleaning, cutting, and clearing various tangled materials during drilling, production, and transportation of hydrocarbons.
Metal Cutting Tools Market, By Product Type
· Milling Tools
· Drilling Tools
· Turning Tools
· Rotary Tools
Metal Cutting Tools Market, By Application
· Automotive
· Aerospace & Defense
· Construction
· Marine
· Electronics
Metal Cutting Tools Market Regional Overview
Geographically, the Asia Pacific region is projected to dominate the global Metal Cutting Tools market during the forecast period. This is because of the growth in the automotive and industrial sectors in this region. Furthermore, the number of countries increasing their defense budgets is another main aspect that will propel the growth of the market in the coming years. Additionally, the speedy industrialization and expansion of manufacturing industries in India and China are boosting the need for tools and equipment, which will be escalating the growth of the metal cutting tools market in this region.
Metal Cutting Tools Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Metal Cutting Tools Market, Key Players
· BIG KAISER Precision Tooling Inc.
· Kennametal
· Nachi-Fujikoshi Corp.
· OSG USA, INC.
· Sandvik AB
· Ceratizit S.A.
· Dewalt
· Fraisa SA
· Guhring, Inc.
· Kilowood Cutting Tools
· Xiamen Golden Egret Special Alloy Co. Ltd.
· Zhuzhou Cemented Carbide Cutting Tool Co. Ltd.
· Tiangong International Co., LIMITED
· Ingersoll Cutting Tool Company
· Sumitomo Electric Hartmetall GmbH
· Kyocera Unimerco
· ISCAR LTD
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Metal Cutting Tools market during the forecast period?
The Metal Cutting Tools market is expected to record a CAGR of ~ 6 % during the forecast period.
Q2. Which segment is projected to hold the largest share in the Metal Cutting Tools Market. ?
The Milling tools segment is projected to hold the largest share in the Metal Cutting Tools Market.
Q3. What are the driving factors for the Metal Cutting Tools market?
The tremendous growth in the automotive industry is one of the significant factors that boots the growth of the Metal Cutting Tools market.
Q4. Which Segments are covered in the Metal Cutting Tools market report?
Product Type, Application, and Region, these segments are covered in the Metal Cutting Tools market report.
Q5. Which are the prominent players offering Metal Cutting Tools?
BIG KAISER Precision Tooling Inc., Kennametal, Nachi-Fujikoshi Corp., OSG USA, INC., Sandvik AB, Ceratizit S.A., Dewalt, Fraisa SA, Guhring, Inc., Kilowood Cutting Tools, Xiamen Golden Egret Special, Alloy Co. Ltd., Zhuzhou Cemented Carbide Cutting Tool Co. Ltd., Tiangong International Co., LIMITED, Ingersoll Cutting Tool Company, Sumitomo Electric Hartmetall GmbH, Kyocera Unimerco, ISCAR LTD. are some of the key players offering Metal Cutting Tools.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Metal Cutting Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product Type
- 5.2.1. Milling Tools
- 5.2.2. Drilling Tools
- 5.2.3. Turning Tools
- 5.2.4. Rotary Tools
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Automotive
- 5.3.2. Aerospace & Defense
- 5.3.3. Construction
- 5.3.4. Marine
- 5.3.5. Electronics
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Metal Cutting Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product Type
- 6.2.1. Milling Tools
- 6.2.2. Drilling Tools
- 6.2.3. Turning Tools
- 6.2.4. Rotary Tools
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Automotive
- 6.3.2. Aerospace & Defense
- 6.3.3. Construction
- 6.3.4. Marine
- 6.3.5. Electronics
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Metal Cutting Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product Type
- 7.2.1. Milling Tools
- 7.2.2. Drilling Tools
- 7.2.3. Turning Tools
- 7.2.4. Rotary Tools
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Automotive
- 7.3.2. Aerospace & Defense
- 7.3.3. Construction
- 7.3.4. Marine
- 7.3.5. Electronics
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Metal Cutting Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product Type
- 8.2.1. Milling Tools
- 8.2.2. Drilling Tools
- 8.2.3. Turning Tools
- 8.2.4. Rotary Tools
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Automotive
- 8.3.2. Aerospace & Defense
- 8.3.3. Construction
- 8.3.4. Marine
- 8.3.5. Electronics
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Metal Cutting Tools Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product Type
- 9.2.1. Milling Tools
- 9.2.2. Drilling Tools
- 9.2.3. Turning Tools
- 9.2.4. Rotary Tools
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Automotive
- 9.3.2. Aerospace & Defense
- 9.3.3. Construction
- 9.3.4. Marine
- 9.3.5. Electronics
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. BIG KAISER Precision Tooling Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Kennametal
- 10.6. Nachi-Fujikoshi Corp.
- 10.7. OSG USA, INC.
- 10.8. Sandvik AB
- 10.9. Ceratizit S.A.
- 10.10. Dewalt
- 10.11. Fraisa SA
- 10.12. Guhring, Inc.
- 10.13. Kilowood Cutting Tools
- 10.14. Xiamen Golden Egret Special Alloy Co. Ltd.
- 10.15. Zhuzhou Cemented Carbide Cutting Tool Co. Ltd.
- 10.16. Tiangong International Co., LIMITED
- 10.17. Ingersoll Cutting Tool Company
- 10.18. Sumitomo Electric Hartmetall GmbH
- 10.19. Kyocera Unimerco
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
