Material Removal Tools

Global Material Removal Tools Market to Reach US$235.1 Million by 2030

The global market for Material Removal Tools estimated at US$184.6 Million in the year 2024, is expected to reach US$235.1 Million by 2030, growing at a CAGR of 4.1% over the analysis period 2024-2030. Machine Tools, one of the segments analyzed in the report, is expected to record a 4.0% CAGR and reach US$136.1 Million by the end of the analysis period. Growth in the Power Tools segment is estimated at 4.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$49.8 Million While China is Forecast to Grow at 7.7% CAGR

The Material Removal Tools market in the U.S. is estimated at US$49.8 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$50.1 Million by the year 2030 trailing a CAGR of 7.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.4% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

Global Material Removal Tools Market - Key Trends and Drivers Summarized

Material removal tools are essential in various industries, including manufacturing, construction, automotive, and aerospace. These tools are designed to remove unwanted material from a workpiece to shape it to the desired dimensions and surface finish. The primary types of material removal tools include cutting tools, grinding tools, and abrasive tools. Cutting tools such as lathes, milling machines, and drill bits are used to shear material away through mechanical force. Grinding tools, including bench grinders and angle grinders, use an abrasive wheel to wear away the surface of a workpiece. Abrasive tools like sandpaper, grinding wheels, and honing stones remove material through friction, making them ideal for finishing surfaces and achieving high precision.

The efficiency and effectiveness of material removal tools depend on several factors, including the tool material, geometry, and the type of workpiece material. Common materials for cutting tools include high-speed steel, carbide, and ceramics, each offering different levels of hardness, toughness, and wear resistance. Tool geometry, including the angle and shape of the cutting edge, significantly influences the cutting performance and the quality of the finished product. Additionally, the development of computer numerical control (CNC) machines has revolutionized the material removal process, allowing for highly precise and automated operations. These advancements have increased productivity and reduced the margin of error in manufacturing processes.

The growth in the material removal tools market is driven by several factors. The increasing demand for high-precision components in industries such as aerospace, automotive, and electronics fuels the need for advanced material removal technologies. The rise of Industry 4.0 and the integration of the Internet of Things (IoT) in manufacturing processes also contribute to market growth, as smart tools and machines enhance productivity and efficiency. Additionally, the shift towards electric vehicles and renewable energy solutions requires new manufacturing techniques, further driving the demand for innovative material removal tools. Consumer behavior trends, such as the preference for customized products, also boost the market, as manufacturers need flexible and precise tools to meet diverse customer specifications. Furthermore, ongoing research and development in tool materials and coatings aim to improve tool life and performance, ensuring sustained growth in the market.

SCOPE OF STUDY:

The report analyzes the Material Removal Tools market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Machine Type (Machine Tools, Power Tools)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 86 Featured) -

• Apex Tool Group, LLC
• ATI Industrial Automation
• Atlas Copco North America LLC
• DMG Mori Co., Ltd
• GISON Machinery Co., Ltd.
• Hebei Sinotools Industrial Co., LTD.
• KIMASTLE Corporation
• Makita U.S.A., Inc
• Mirka Ltd.
• OTTO BAIER GmbH
• Push Corporation
• Rhino Tool House
• Robert Bosch Power Tools GmbH
• Taylor-Winfield Technologies, Inc.
• Zhejiang Benyu Tools Co., Ltd

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.