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Global Cutting Tools Market Growth 2019-2024
SKU ID : LPI-13842222 | Publishing Date : 07-Feb-2019 | No. of pages : 183
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.
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.
According to this study, over the next five years the Cutting Tools market will register a 2.4% CAGR in terms of revenue, the global market size will reach US$ 39200 million by 2024, from US$ 34000 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Cutting Tools business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Cutting Tools market by product type, application, key manufacturers and key regions and countries.
This study considers the Cutting Tools value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Milling
Turning
Drilling
Grinding
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
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
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Cutting Tools consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Cutting Tools market by identifying its various subsegments.
Focuses on the key global Cutting Tools manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Cutting Tools with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Cutting Tools submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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.
According to this study, over the next five years the Cutting Tools market will register a 2.4% CAGR in terms of revenue, the global market size will reach US$ 39200 million by 2024, from US$ 34000 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Cutting Tools business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Cutting Tools market by product type, application, key manufacturers and key regions and countries.
This study considers the Cutting Tools value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Milling
Turning
Drilling
Grinding
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
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
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Cutting Tools consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Cutting Tools market by identifying its various subsegments.
Focuses on the key global Cutting Tools manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Cutting Tools with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Cutting Tools submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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