US Turning Tools Market Size study, by Type (Rough turning tools and Finish turning tools), by Application (Conventional lathe machine and CNC lathe machine), by End-user industry (Automotive, Electronics and electrical, Aerospace, Construction and mining

US Turning Tools Market Size study, by Type (Rough turning tools and Finish turning tools), by Application (Conventional lathe machine and CNC lathe machine), by End-user industry (Automotive, Electronics and electrical, Aerospace, Construction and mining, and Others) Forecasts 2022-2032

US Turning Tools Market is valued approximately at USD 920.75 million in 2023 and is anticipated to grow with a healthy growth rate of more than 8.00 % over the forecast period 2024-2032. The turning tools market involves tools used for turning operations in machining processes. Turning is a machining process in which a cutting tool is used to remove material from a rotating workpiece to create cylindrical parts with precise dimensions and surface finishes. It is an essential component in industries such as automotive, aerospace, construction, and general manufacturing. The US Turning Tools Market is driven by the manufacturing output, and industrial investments. Innovations in turning tool materials, coatings, geometries, and cutting techniques continually drive the market. Manufacturers are investing in research and development to enhance tool performance, increase tool life, and improve machining efficiency. For instance, in February 2024, Tungaloy announced that it has modernized its ModuMiniTurn modular turning-tool system for Swiss machines by addition of 30 new round-shank toolholders that are fit for machining the posterior side of the parts in the subspindle. Thus, these initiatives drive demand for the US Turning Tools Market.

Innovations in turning tool materials, coatings, geometries, and cutting techniques are important drivers of demand within the US Turning Tools Market. Advanced materials, such as carbide, ceramics, and high-speed steel alloys, offer improved durability, heat resistance, and wear characteristics, enhancing tool longevity and performance. For instance, in August 2023, Kyocera Precision Tools launched its innovative CA125P/CA115P chemical vapor deposition (CVD) coated carbide for steel machining. This innovative carbide substrate, coating, and chipbreakers to carry wear, fracture resistance, and performance. Geometric advancements, such as optimized chip breakers, variable helix angles, and innovative insert designs, enable more efficient chip evacuation, better surface finishes, and enhanced dimensional accuracy during turning operations. Moreover, cutting techniques such as high-speed machining, trochoidal milling, and adaptive machining algorithms maximize material removal rates while minimizing tool wear and energy consumption, improving overall machining productivity and cost-effectiveness. However, mismanagement of biomass and a lack of understanding among developing economies, on the other hand, will stifle market growth between 2022 and 2032.


Major market player included in this report are:
Kennametal Inc.
Ingersoll Cutting Tool Company
Woodline USA
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

By Type
Rough turning tools
Finish turning tools

By Application
Conventional lathe machine
CNC lathe machine

By End-User Industry
Automotive
Electronics and electrical
Aerospace
Construction and mining
Others




Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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