Global Cutting Tools Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Cutting Tools market size was valued at US$ 25920 million in 2024 and is forecast to a readjusted size of USD 38210 million by 2031 with a CAGR of 5.8% during review period.

In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Machinery Industry and drilling tools are often multipoint tools. Energy Industry tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.

Global cutting tools key players include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG etc. Global top 5 manufacturers hold a share over 40%.

Europe is the largest market, with a share about 30%, followed by North America and China, both have a share over 48% percent.

In terms of product, high speed steel is the largest segment, with a share over 45%. And in terms of application, the largest application is machinery, followed by automotive.

This report is a detailed and comprehensive analysis for global Cutting Tools market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Cutting Tools market size and forecasts, in consumption value ($ Million), sales quantity (M Units), and average selling prices (USD/K Units), 2020-2031

Global Cutting Tools market size and forecasts by region and country, in consumption value ($ Million), sales quantity (M Units), and average selling prices (USD/K Units), 2020-2031

Global Cutting Tools market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (M Units), and average selling prices (USD/K Units), 2020-2031

Global Cutting Tools market shares of main players, shipments in revenue ($ Million), sales quantity (M Units), and ASP (USD/K Units), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Cutting Tools

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Cutting Tools market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG, Sumitomo Electric, Mapal, Kyocera, YG-1, Nachi-Fujikoshi, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Cutting Tools market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others

Market segment by Application
Machinery
Automotive
Aerospace
Energy
Others

Major players covered
Sandvik
IMC Group
Mitsubishi
Kennametal
OSG
Sumitomo Electric
Mapal
Kyocera
YG-1
Nachi-Fujikoshi
ZCC·CT
Union Tool
Korloy
LMT
Ceratizit
Jiangsu Tiangong Tools Co., Ltd.
Shanghai Tool Works Co., Ltd.
OKE Precision Cutting Tools Co., Ltd.
Guhring
Tivoly

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Cutting Tools product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Cutting Tools, with price, sales quantity, revenue, and global market share of Cutting Tools from 2020 to 2025.

Chapter 3, the Cutting Tools competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Cutting Tools breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Cutting Tools market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Cutting Tools.

Chapter 14 and 15, to describe Cutting Tools sales channel, distributors, customers, research findings and conclusion.