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The Global Metal Cutting Tools Market Was Worth USD 76.06 Billion in 2022 and is Estimated to Grow to USD 105.71 Billion by 2030, With a CAGR of Approximately 4.2 % Over the Forecast Years From 2023 To 2030.
The market is expanding due to the rising demand for metal-cutting equipment from various industries, including aerospace, military, automotive, and industrial machinery. The industry is anticipated to be driven shortly by the rising need for effective equipment in critical and complicated machine component requirements. A further aspect boosting market expansion is the rising popularity of CNC machines. This is explained by the benefits provided by CNC metal cutting tools, such as their high efficiency, transparency, and cost- and time-saving capabilities. The research study offers and details market projections and expansion potential in a variety of geographies. However, high initial costs and fluctuating raw material prices may restrain market expansion.
Smart manufacturing technologies are being used more often for product development and production processes as a result of the desire for automation in factories. This is ascribed to advantages, including increased production, higher-quality products, and simplicity in managing labor shortages. A paradigm change will occur in manufacturing and equipment operations, moving away from traditional approaches and toward linked, intelligent, and efficient mechanical systems. Manufacturers may gain from operational savings, effective energy use, improved and autonomous virtual metrology, and improved human-machine interactions thanks to Industry 4.0 technologies.
Many manufacturing organizations are concentrating on automating manufacturing activities within the facilities to lower the cost of paying high labor costs, improve productivity, and improve process optimization in their operations. However, the entire procedure calls for the purchase, setup, and prompt maintenance of all apparatus. But a significant cash shortage during and after the pandemic’s limitations has seriously hampered market expansion. Additionally, the conflict between Ukraine and Russia has made it more difficult to purchase raw materials, which has created market uncertainty and disruption.
The Global Metal Cutting Tools Market Has Been Segmented into Products and Applications.
The global metal-cutting tools market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
In eastern nations like Japan, China, and South Korea, the impact of the coronavirus outbreak on the market has been substantially less severe than in the western half of the world. The worldwide disruption of industrial operations has the most impact in the short term. As the number of cases soars globally, the magnitude of these disruptions grows. Furthermore, if the virus spreads to other major industrial nations outside China and Germany, it would have a far more significant influence on the production sector of metal-cutting instruments. Long-term, it’s expected that the sectors connected to these cutting tools will get back on track, leading to a significant need for machines in the future.
Some of the main competitors dominating the global Metal Cutting Tools Market include-
Metal Cutting Tools Market by Product Outlook (Revenue, USD Million, 2017 – 2030)
Metal Cutting Tools Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
Metal Cutting Tools Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
Metal Cutting Tools Market Report Scope | |
Report Attribute | Details |
Market Size Value in 2022 | USD 76.06 billion |
Revenue Forecast in 2030 | USD 105.71 billion |
Growth Rate | CAGR of 4.2 % from 2023 to 2030 |
Base Year for Estimation | 2022 |
Historical Data | 2017 – 2022 |
Forecast Years | 2023 – 2030 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2030 |
Report Coverage | Revenue forecast, company ranking, Trends competitive landscape, and growth factors |
Segments Covered | Product, Application, and Region |
Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
Key Companies Profiled | Kennametal Inc, OSG Corp, ISCAR LTD, MAPAL Dr. Kress KG, Makita Corp, Robert Bosch GmbH, Stanley Black and Decker, Klein Tools, Guhring, ICS CuttingTools, Snap-on Inc, Hilti Corporation, Sandvik AG, Ingersoll Cutting Tools, RAISA SA, KYOCERA Cutting Tools Group, Xiamen Golden Egret Special Alloy Co Ltd, and Others |
Table of Content
Metal Cutting Tools Market Size, Share, Growth, and Forecast Report
Chapter 1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Product
1.4.2. Application
Chapter 2. Metal Cutting Tools Market Overview
2.1. Introduction
2.2. Analysis by Product, 2017-2030 (US$ Billion)
2.3. Analysis by Application, 2017-2030 (US$ Billion)
2.4. Market Analysis by Region, 2017-2030 (US$ Billion)
Chapter 3. Metal Cutting Tools Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Products
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Product
3.6.2. Application
3.6.3. Region
3.7. Value Chain Analysis
Chapter 4. Metal Cutting Tools Market Competition Analysis
4.1. Metal Cutting Tools Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
Chapter 5. Global Metal Cutting Tools Market Analysis by Product and Application, 2017-2030 (US$ Billion)
5.1. Product
5.1.1. Global Metal Cutting Tools Market Share, by Product, 2021 and 2030
5.1.2. Global Metal Cutting Tools Market Revenue, by Product, 2017-2030 (US$ Billion)
5.1.3. By Machining Centers Market Analysis 2017-2030 (US$ Billion)
5.1.4. By Lathes Market Analysis 2017-2030 (US$ Billion)
5.1.5. By Boring Market Analysis 2017-2030 (US$ Billion)
5.1.6. By Grinding Market Analysis 2017-2030 (US$ Billion)
5.1.7. By Milling Market Analysis 2017-2030 (US$ Billion)
5.1.8. By Other Products Market Analysis 2017-2030 (US$ Billion)
5.2. Application
5.2.1. Market Share, by Application, 2021 and 2030
5.2.2. Market Revenue, by Application, 2017-2030 (US$ Billion)
5.2.3. By Automotive Market Analysis 2017-2030 (US$ Billion)
5.2.4. By General Machinery Market Analysis 2017-2030 (US$ Billion)
5.2.5. By Precision Engineering Market Analysis 2017-2030 (US$ Billion)
5.2.6. By Transport Machinery Market Analysis 2017-2030 (US$ Billion)
5.2.7. By Other Applications Market Analysis 2017-2030 (US$ Billion)
Chapter 6. Global Metal Cutting Tools Market Product Analysis by Region, 2017-2030 (US$ Billion)
6.1. Machining Centers Market Analysis 2017-2030 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Lathes Market Analysis 2017-2030 (US$ Billion)
6.3. Boring Market Analysis 2017-2030 (US$ Billion)
6.4. Grinding Market Analysis 2017-2030 (US$ Billion)
6.5. Milling Market Analysis 2017-2030 (US$ Billion)
6.6. Other Products Market Analysis 2017-2030 (US$ Billion)
Chapter 7. Global Metal Cutting Tools Market Application Analysis by Region, 2017-2030 (US$ Billion)
7.1. Automotive Market Analysis 2017-2030 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. General Machinery Market Analysis 2017-2030 (US$ Billion)
7.3. Precision Engineering Market Analysis 2017-2030 (US$ Billion)
7.4. Transport Machinery Market Analysis 2017-2030 (US$ Billion)
7.5. Other Applications Market Analysis 2017-2030 (US$ Billion)
Chapter 8. Metal Cutting Tools Market Analysis by Geography, 2017-2030 (US$ Billion)
8.1. North America Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.1.1. U.S. Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.1.1.1. Product
8.1.1.2. Application
8.1.2. Canada Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.1.3. Mexico Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2. Europe Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.1. UK Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.1.1. Product
8.2.1.2. Application
8.2.2. France Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.3. Germany Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.4. Spain Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.5. Russia Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.6. Italy Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.2.7. Rest of Europe Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3. Asia Pacific Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.1. China Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.1.1. Product
8.3.1.2. Application
8.3.2. Japan Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.3. South Korea Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.4. India Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.5. Australia Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.6. Southeast Asia Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.7. Taiwan Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.3.8. Rest of Asia Pacific Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.4. Latin America Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.4.1. Brazil Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.4.1.1. Product
8.4.1.2. Application
8.4.2. Argentina Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.4.3. Rest of Latin America Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.5. Middle East Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.5.1. Israel Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.5.1.1. Product
8.5.1.2. Application
8.5.2. Turkey Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.5.3. Saudi Arabia Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.5.4. UAE Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.5.5. Rest of the Middle East Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.6. Africa Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.6.1. Egypt Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.6.1.1. Product
8.6.1.2. Application
8.6.2. South Africa Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
8.6.3. Rest of Africa Metal Cutting Tools Market Analysis 2017-2030 (US$ Billion)
Chapter 9. Company Profiles
9.1. Kennametal Inc
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. OSG Corporation
9.3. ISCAR LTD
9.4. MAPAL Dr. Kress KG
9.5. Makita Corporation
9.6. Robert Bosch GmbH
9.7. Stanley Black and Decker
9.8. Klein Tools
9.9. Guhring
9.10. ICS CuttingTools
9.11. Snap-on Incorporated
9.12. Hilti Corporation
9.13. Sandvik AG
9.14. Ingersoll Cutting Tools
9.15. RAISA SA
9.16. KYOCERA Cutting Tools Group
9.17. Xiamen Golden Egret Special Alloy Co. Ltd.
9.18. Hartmetall-Werkzeugfabrik Paul Horn GmbH
9.19. Asahi DiamondIndustrial Co. Ltd.
9.20. Ceratizit S.A.
9.21. Koki Co. Ltd.
Chapter 10. COVID-19 Impact Analysis
10.1. Global Metal Cutting Tools Market, 2020 – 2030, Pre-V/S Post COVID 19
10.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Metal Cutting Tools Market Size In 2022, By Scenario
10.3. Impact on Supply Chain and Production in the Metal Cutting Tools Market
10.4. Impact on Import and Export
Chapter 11. Import-Export Analysis
11.1. North America Metal Cutting Tools Import-Export, 2017 – 2021
11.2. Europe Metal Cutting Tools Import-Export, 2017 – 2021
11.3. Asia Pacific Metal Cutting Tools Import-Export, 2017 – 2021
11.4. Latin America Metal Cutting Tools Import-Export, 2017 – 2021
11.5. Middle East America Metal Cutting Tools Import-Export, 2017 – 2021
11.6. Africa Metal Cutting Tools Import-Export, 2017 – 2021
Chapter 12. Metal Cutting Tools Marketing Channel Analysis
12.1. Marketing Channel
12.1.1. Direct Marketing
12.1.2. Indirect Marketing
12.1.3. Development Trend
12.2. Market Positioning
Chapter 13. Metal Cutting Tools Manufacturing Cost Analysis
13.1. Key Raw Materials
13.2. Key Raw Material Suppliers
13.3. Market Concentration Rate
13.4. Manufacturing Cost Structure
13.5. Process Analysis
Chapter 14. Conclusion
Metal Cutting Tools Market by Product Outlook (Revenue, USD Million, 2017 – 2030)
Metal Cutting Tools Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
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