Metal Cutting Tools Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factor of Metal Cutting Tools Market
The metal cutting tools market size was worth USD 76.05 billion in 2022 globally. However the market is predicted to grow from USD 78.89 billion in 2023 to USD 120.44 billion by 2030, resulting a compound average growth rate of 6.2% during the forecasts period.
Due to the outbreak of COVID pandemic, manufacturing of metal cutting tool was on halt which resulted in decrease of demand in metal cutting products. However as the pandemic situations started getting better, manufacturing industries started boosting and demand for metal cutting tools increased which resulted in metal cutting tools market growth globally.
Development of metal cutting industry was possible by adopting industry 4.0 which introduced smart cutting tools that can communicate with machines, data collection and adjusting speeds, feed and parameters for higher performance. With the help of Automated Virtual Metrology (AVM) manufacturing field started getting quality assurance with led to increase of metal cutting tools share globally.
Comprehensive Analysis of Metal Cutting Tools Market
Metal cutting tool market is segmented into by product which includes machining centers, lathe machines, milling machines and other. As expected segment of lathe machines grow fast because of the increasing demand of automated sector, contributes in growing market share globally. Whereas by applications include automotive, general machinery, precision machinery, transport machinery and other. Automotive sector such as gearboxes, modern disk brakes, automotive components, and clutch plates occupies the forefront of the application segment in market for generating revenue as their demands are increasing.
The Asia Pacific holds USD 38.63 billion, in 2022 market share size of metal cutting tools globally during forecast period. Government also took essential initiation for electric vehicles to push the market progress. China imposes favourable policies for development of production facilities of automotive manufacturing which led to boost market.
In Europe, Germany was reported with generating highest revenue in 2022. Whereas the U.K., France, and Italy are following the growth trend of Germany. In North America, the U.S., holds dominant position in 2022 and leads to highest CAGR during forecast period. However, due to key market players investment Canadian market is also growing. Whereas, Middle East & Africa and Latin America regional countries such as Saudi Arabia, the UAE, and Kuwait are also growing rapidly. Countries like Africa and Latin America, South Africa, Brazil, Mexico are growing slowly due to slow industrial development.
Key market players like Doosan Machine Tools Co. Ltd. (U.S.) and Okuma Corporation (Japan) are trying to launch innovative product in market. As key players are focusing on high functional efficiency and improve capacity, companies are merging and making organic growth strategies to gain market growth. Sandvik Machining Solution acquired QUIMMCO CENTRO TECHNOLOGICO (QCT) to increase its market share in Mexico. While some key market players are Trumpf (Germany), Amada Machine Tools Co. Ltd (Japan), JTEKT Corporation (Japan), Hyundai WIA (South Korea), FANUC America Corporation (Japan), Komatsu Ltd (Japan), Makino (Japan) and Yamazaki Mazak Corporation (Japan).
Segmentation Table
Study Period 2019-2030
Base Year 2022
Attribute Details
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 6.2% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Product
Machining Centers
Lathe Machines
Boring Machines
Grinding Machines
Milling Machines
Others
By Application
Automotive
General Machinery
Precision Engineering
Transport Machinery
Others
By Region
North America (By Product, By Application, and By Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Product, By Application, and By Country)
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Product, By Application, and By Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application )
Middle East & Africa (By Product, By Application, and By Country)
- GCC (By Application)
-South Africa (By Application)
- Rest of the Middle East and Africa (By Application)
Latin America (By Product, By Application, and By Country)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
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- 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
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Number of Breast Augmentation Surgery - For Key Countries, 2022/2023
- 4.2. Number of Breast Reconstruction Surgery - For Key Countries, 2022/2023
- 4.3. Regulatory Scenario - For Key Countries
- 4.4. New Product Launches, Key Players
- 4.5. Overview of Medical Tourism for Breast Augmentation
- 4.6. Key industry Developments (Mergers, Acquisitions, Partnerships, etc.)
- 4.7. Impact of COVID-19 on the Market
- 5. Global Breast Implants Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Product
- 5.1.1. Breast Implants
- 5.1.2. Tissue Expanders
- 5.2. Market Analysis, Insights and Forecast – By Material
- 5.2.1. Silicone
- 5.2.2. Saline
- 5.3. Market Analysis, Insights and Forecast – By Procedure
- 5.3.1. Breast Augmentation
- 5.3.2. Breast Reconstruction
- 5.4. Market Analysis, Insights and Forecast – By End-user
- 5.4.1. Hospitals
- 5.4.2. Specialty Clinics
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Breast Implants Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Product
- 6.1.1. Breast Implants
- 6.1.2. Tissue Expander
- 6.2. Market Analysis, Insights and Forecast – By Material
- 6.2.1. Silicone
- 6.2.2. Saline
- 6.3. Market Analysis, Insights and Forecast – By Procedure
- 6.3.1. Breast Augmentation
- 6.3.2. Breast Reconstruction
- 6.4. Market Analysis, Insights and Forecast – By End-user
- 6.4.1. Hospitals
- 6.4.2. Specialty Clinics
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 7. Europe Breast Implants Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Product
- 7.1.1. Breast Implants
- 7.1.2. Tissue Expanders
- 7.2. Market Analysis, Insights and Forecast – By Material
- 7.2.1. Silicone
- 7.2.2. Saline
- 7.3. Market Analysis, Insights and Forecast – By Procedure
- 7.3.1. Breast Augmentation
- 7.3.2. Breast Reconstruction
- 7.4. Market Analysis, Insights and Forecast – By End-user
- 7.4.1. Hospitals
- 7.4.2. Specialty Clinics
- 7.5. Market Analysis, Insights and Forecast – By Countries/ Sub-region
- 7.5.1. U.K.
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Spain
- 7.5.5. Italy
- 7.5.6. Scandinavia
- 7.5.7. Rest of Europe
- 8. Asia Pacific Breast Implants Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Product
- 8.1.1. Breast Implants
- 8.1.2. Tissue Expanders
- 8.2. Market Analysis, Insights and Forecast – By Material
- 8.2.1. Silicone
- 8.2.2. Saline
- 8.3. Market Analysis, Insights and Forecast – By Procedure
- 8.3.1. Breast Augmentation
- 8.3.2. Breast Reconstruction
- 8.4. Market Analysis, Insights and Forecast – By End-user
- 8.4.1. Hospitals
- 8.4.2. Specialty Clinics
- 8.5. Market Analysis, Insights and Forecast – By Countries/ Sub-region
- 8.5.1. Japan
- 8.5.2. China
- 8.5.3. India
- 8.5.4. Australia
- 8.5.5. Southeast Asia
- 8.5.6. Rest of Asia Pacific
- 9. Latin America Breast Implants Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Product
- 9.1.1. Breast Implants
- 9.1.2. Tissue Expanders
- 9.2. Market Analysis, Insights and Forecast – By Material
- 9.2.1. Silicone
- 9.2.2. Saline
- 9.3. Market Analysis, Insights and Forecast – By Procedure
- 9.3.1. Breast Augmentation
- 9.3.2. Breast Reconstruction
- 9.4. Market Analysis, Insights and Forecast – By End-user
- 9.4.1. Hospitals
- 9.4.2. Specialty Clinics
- 9.5. Market Analysis, Insights and Forecast – By Countries/ Sub regions
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America
- 10. Middle East & Africa Breast Implants Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Product
- 10.1.1. Breast Implants
- 10.1.2. Tissue Expanders
- 10.2. Market Analysis, Insights and Forecast – By Material
- 10.2.1. Silicone
- 10.2.2. Saline
- 10.3. Market Analysis, Insights and Forecast – By Procedure
- 10.3.1. Breast Augmentation
- 10.3.2. Breast Reconstruction
- 10.4. Market Analysis, Insights and Forecast – By End-user
- 10.4.1. Hospitals
- 10.4.2. Specialty Clinics
- 10.5. Market Analysis, Insights and Forecast – By Countries/ Sub region
- 10.5.1. South Africa
- 10.5.2. GCC
- 10.5.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. Allergan
- 11.2.1.1. Overview
- 11.2.1.2. Products & Services
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. Financials (Based on Availability)
- 11.2.2. POLYTECH Health & Aesthetics GmbH
- 11.2.2.1. Overview
- 11.2.2.2. Products & Services
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. Financials (Based on Availability)
- 11.2.3. Mentor Worldwide LLC
- 11.2.3.1. Overview
- 11.2.3.2. Products & Services
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. Financials (Based on Availability)
- 11.2.4. Sientra, Inc.
- 11.2.4.1. Overview
- 11.2.4.2. Products & Services
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. Financials (Based on Availability)
- 11.2.5. CEREPLAS
- 11.2.5.1. Overview
- 11.2.5.2. Products & Services
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. Financials (Based on Availability)
- 11.2.6. GC Aesthetics
- 11.2.6.1. Overview
- 11.2.6.2. Products & Services
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. Financials (Based on Availability)
- 11.2.7. Establishment Labs S.A.
- 11.2.7.1. Overview
- 11.2.7.2. Products & Services
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. Financials (Based on Availability)
- 11.2.8. LABORATOIRES ARION
- 11.2.8.1. Overview
- 11.2.8.2. Products & Services
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. Financials (Based on Availability)
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