Global Metal Cutting Tools Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Metal Cutting Tools Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A metal cutting tool is a machine tool that ensures that critical and complex parts can be efficiently and easily manufactured with the highest precision.

Market Overview:

The latest research study on the global Metal Cutting Tools market finds that the global Metal Cutting Tools market reached a value of USD 27865.0 million in 2022. It’s expected that the market will achieve USD 38000.0 million by 2028, exhibiting a CAGR of 5.31% during the forecast period.

Strength

Rapid growth in construction and manufacturing, increasing demand for cutting tools.
Developments in the automotive and aerospace industries
The need to improve labor efficiency.

Weakness

Global economic fluctuations affecting downstream markets.
The fluctuation of raw material prices affects the profit margin of metal cutting tools.

Opportunity

Growth in emerging market manufacturing industries such as China, India.
Development of materials industry, improvement of manufacturing materials of products.

Threat

Increased industry competition.
Rising labor costs.
Incomplete industry laws and regulations.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Nachi-Fujikoshi Corp. is one of the major players operating in the Metal Cutting Tools market, holding a share of 14.23% in 2023.

Nachi-Fujikoshi Corp.

NACHI-FUJIKOSHI CORP. manufactures bearings. The Company also produces and sells machine tools, oil and air pressure equipment, and industrial robots.

Sandvik AB

Sandvik AB is a high-technology engineering group. The Company develops, manufactures, and markets tools for metalworking applications, machinery and tools for rock excavation, stainless steel products, special alloys, and resistance heating materials and process systems. Sandvik markets to industrial companies throughout the world, and tools can also be purchased online.

Segmentation Overview:

As for product types, the Solid Round Tools segment held the largest market share in 2022.

Application Overview:

By application, the Milling segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Metal Cutting Tools market covered in Chapter 3:

Ingersoll Cutting Tools
ISCAR LTD
Kyocera Unimerco
Nachi-Fujikoshi Corp.
Fraisa SA
Mitsubishi Hitachi Tool Engineering,Ltd.
Guhring, Inc.
Kennametal
Zhuzhou Cemented Carbide Cutting Tool Co. Ltd.
OSG
Sumitomo Electric Hartmetall GmbH
Tiangong International Co.
Ceratizit S.A.
Xiamen Golden Egret Special Alloy Co. Ltd.
Kilowood Cutting Tools
Sandvik AB

In Chapter 4 and Chapter 14.2, on the basis of types, the Metal Cutting Tools market from 2018 to 2029 is primarily split into:

Solid Round Tools
Indexable Inserts

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Metal Cutting Tools market from 2018 to 2029 covers:

Milling
Turning
Drilling
Taps
Gear Cutter

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)