Global Cutting Tools Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Milling and drilling tools are often multipoint tools. Grinding tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.

Scope of the Report:
In the Metal Cutting Tools market, Sandvik, Kennametal, Iscar, OSG respectively account for 3.88%, 1.62%, 1.24%, 1.06% market share in 2017, and the sum of the market share percentage held by the largest number of firms in this industry is less than 50%, which indicate that the Metal Cutting Tools industry is perfectly competitive and is considered low concentration. The reason is the manufacturing technology of Metal Cutting Tools is relatively more mature than some high-tech equipment.

In the coming years there is an increasing demand for Metal Cutting Tools in the regions of USA and Europe that is expected to drive the market for more advanced Metal Cutting Tools. Increasing of automotive fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Metal Cutting Tools will drive growth in China markets.


The Revenue of Metal Cutting Tools is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Metal Cutting Tools industry may not keep that fast. But it is surely forecasted that the market of Metal Cutting Tools is still promising.

The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.

With emerging economies growing faster, a strategy has been adopted by most leading vendors in the Metal Cutting Tools market to approach these areas. QYR analysis of the Metal Cutting Tools market indicated that Asia would account for the highest consumption in 2022 with close to 25.97 percent of global revenue coming from this region, and it’s keeping grow as the increasing of the market. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.

Although the market competition of Metal Cutting Tools is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of Metal Cutting Tools and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.

The worldwide market for Cutting Tools is expected to grow at a CAGR of roughly 2.4% over the next five years, will reach 39200 million US$ in 2024, from 34000 million US$ in 2019, according to a new study.
This report focuses on the Cutting Tools in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Market Segment by Manufacturers, this report covers
Sandvik
Kennametal
Iscar
OSG
Mitsubishi
Kyocera
Sumitomo
Mapal
Nachi-Fujikoshi
LMT
ZCCCT
YG-1
Shanghai Tool
Korloy
Union Tool
Tiangong
Guhring
Harbin No.1 Tool
Tivoly
Ceratizit
Hitachi
Feidadrills
Chengdu Chengliang
BIG Kaiser
Addison
Hanjiang
EST Tools
Xiamen Golden Erge
AHNO
Sandhog

Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others

Market Segment by Applications, can be divided into
Milling
Turning
Drilling
Grinding
Others

The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Cutting Tools product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Cutting Tools, with price, sales, revenue and global market share of Cutting Tools in 2017 and 2018.
Chapter 3, the Cutting Tools competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Cutting Tools breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Cutting Tools market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Cutting Tools sales channel, distributors, customers, research findings and conclusion, appendix and data source.