Global Carbide Tools Market 2022-2028

Global Carbide Tools Market 2022-2028

The global carbide tools market market is projected to rise by USD 18 billion by 2028, according to a new report by Gen Consulting Company. It is anticipated to expand at a CAGR of 15.4 percent during the forecast period.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global carbide tools market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the carbide tools industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the type of tool, type, application, and region. The global market for carbide tools can be segmented by type of tool: boring tools, burrs, countersinks, cutting tools, drilling tools, inserts, milling tools, reamers, routers, others. The milling tools segment captured the largest share of the market in 2021. Carbide tools market is further segmented by type: coated, noncoated. Based on application, the carbide tools market is segmented into: automotive and transportation, building and construction, electronics, general manufacturing, medical, oil, gas and mining, power and energy, others. In 2021, the automotive and transportation segment made up the largest share of revenue generated by the carbide tools market. On the basis of region, the carbide tools market also can be divided into: Asia Pacific, Europe, North America, Rest of the World (RoW). Among these, Asia Pacific was accounted for the highest revenue generator in 2021.

By type of tool:

• boring tools
• burrs
• countersinks
• cutting tools
• drilling tools
• inserts
• milling tools
• reamers
• routers
• others

By type:

• coated
• noncoated

By application:

• automotive and transportation
• building and construction
• electronics
• general manufacturing
• medical
• oil, gas and mining
• power and energy
• others

By region:

• Asia Pacific
• Europe
• North America
• Rest of the World (RoW)

The drilling tools market is further segmented into burnishing and core drills, flat drills, step and gun drills, twist drills, others. According to the research, the twist drills segment had the largest share in the global carbide tools market. Furthermore, the milling tools market has been categorized into end mills, face mills, others. Gen Consulting Company research indicates that the end mills segment occupied the largest share of this market in 2021 and is expected to draw the highest demand in coming years. The reamers market is further divided into steps reamers, taper reamers, chucking reamers, others. Globally, the chucking reamers segment made up the largest share of the carbide tools market.

The global carbide tools market report offers detailed information on several market vendors, including Ceratizit S.A., Fullerton Tool Co. Inc.,, Kennametal Inc,, Kyocera Corporation, Mapal Dr. Kress KG, Mitsubishi Materials Corporation, OSG Corporation, Sandvik AB, Union Tool Co., YG-1 Co., Ltd. , among others.

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Historical & Forecast Period

This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report

• To analyze and forecast the market size of the global carbide tools market.
• To classify and forecast the global carbide tools market based on type of tool, type, application, region.
• To identify drivers and challenges for the global carbide tools market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global carbide tools market.
• To identify and analyze the profile of leading players operating in the global carbide tools market.

Why Choose This Report

• Gain a reliable outlook of the global carbide tools market forecasts from 2022 to 2028 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.