In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Metal Cutting Tools market for 2018-2023.
In the context of machining, a cutting tool 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, plaining and similar operations, and remove material by means of one cutting edge. Milling and drilling tools are often multipoint tools. Grinding 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.
In the coming years there is an increasing demand for Metal Cutting Tools in the regions of USA and Europe that is expected to drive the market for more advanced Metal Cutting Tools. Increasing of automotive fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Metal Cutting Tools will drive growth in China markets.
Globally, the Metal Cutting Tools industry market is low concentrated as the manufacturing technology of Metal Cutting Tools is relatively matures than some high-tech equipment. And some enterprises, like Sandvik, Kennametal, Iscar, etc. are well-known for the wonderful performance of their Metal Cutting Tools and related services. At the same time, Europe, occupied 22.74% revenue market share in 2016, is remarkable in the global Metal Cutting Tools industry because of their market share and technology status of Metal Cutting Tools.
The Revenue of Metal Cutting Tools is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Metal Cutting Tools industry may not keep that fast. But it is surely forecasted that the market of Metal Cutting Tools is still promising.
Over the next five years, LPI(LP Information) projects that Metal Cutting Tools will register a 6.1% CAGR in terms of revenue, reach US$ 29200 million by 2023, from US$ 20500 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Metal Cutting Tools market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
High speed steel
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Harbin No.1 Tool
Xiamen Golden Erge
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Metal Cutting Tools consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Metal Cutting Tools market by identifying its various subsegments.
Focuses on the key global Metal Cutting Tools manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Metal Cutting Tools with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing th