Metal Cutting Tool Market Growth, Size, Trends, Revenue, Share, Demand and Future Outlook
Metal Cutting Tool Market Size- By Tool Type, By Product Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: MACH2410 | Pages: 1 - 224 | Formats*: |
| Category : Equipment and Machinery | |||
Metal Cutting Tool Market Introduction and Overview
According to SPER Market Research, the Global Metal Cutting Tool Market is estimated to reach USD 111.92 billion by 2033 with a CAGR of 4.31%.
The report includes an in-depth analysis of the Global Metal Cutting Tool Market, including market size and trends, product mix, distribution channels, and supplier analysis. A collection of tools used to transform metals or other materials into different machine components are referred to as "machine tools". Another way to define a machine tool is a power-driven device used to shape or cut metal. The worldwide industry depends heavily on the global metal cutting tool sector. The competitiveness of the manufacturing sector is greatly impacted by the quality of the instruments used in metal cutting operations. All industrial businesses rely on metal cutting tool as essential inputs. The industrial sector's global expansion depends on the success of the metal cutting tool industry. The automotive, heavy equipment, military, aerospace, and casting sectors are just a few of the critical and important end-use industries that depend on a healthy global metal cutting tool market to sustain their operations.
- January 2023: New solid carbide milling cutters, the MD340 & MD344 Supreme, have been introduced by Walter, one of the major players. With a diameter of 2-25 mm or 1/16-"), the MD340 Supreme is especially made for roughing, full slotting, and dynamic milling steel materials. With its unique face geometry (dia. 6-20 mm), the MD344 Supreme four-edge cutter is intended for ramping or 90° plunging.
- July 2023: The Cincinnati-based Custom Carbide Cutter, Inc. (CCCI), which offers premium cutting tools to distributors and manufacturers, has been acquired by ARCH Cutting Tools Corp. The latest addition to ARCH Cutting Tools' high-performance bespoke tooling lineup will be the purchase.
Market Opportunities and Challenges
Because of its qualities, including high wear hardness, high working hardness, durability, and good hardness retention, metal is becoming more and more in demand for cutting tools. When compared to carbon steels that were previously in use, the cutting speed has risen fourfold with the usage of these tools. For producers, dependable and effective machining is becoming more and more important. These cutting tools are finding their way into high-temperature operations and large manufacturing because of their aforementioned qualities. Increased emphasis on client satisfaction and product quality is also contributing to the growth of the high-performance cutting tool market. Tools maintain their status as essential components in the machining and metal-cutting industries by adopting new coating methods and modifying their composition accordingly.
When it comes to finances and resources, SMEs sometimes lack what larger organisations have. These have large upfront costs, which may discourage SMEs from investing in cutting-edge, premium machinery. Consequently, companies could choose less costly or worse substitutes, which might have an impact on the general calibre and accuracy of their machining operations. It may be difficult for SMEs who cannot afford these high-quality instruments to compete with larger businesses that can afford to buy top-notch machinery. It is anticipated that these elements will impede market expansion. The pricing strategy employed by machine tool makers is disrupted by the volatility of raw material costs.
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Market Competitive Landscape
The major companies included in the Global Metal Cutting Tool market study are Tiangong International Co., D N Solutions, Proterial Ltd., FANUC Corporation, Komatsu Ltd, Amada Machine Tools Ltd, Big DAISHOWA Inc, Kennametal Inc, Berkshire Hathaway Inc, Sandvik AB.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Tools Type, By Product Type, By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Tiangong International Co., D N Solutions, Proterial Ltd., FANUC Corporation, Komatsu Ltd, Amada Machine Tools Ltd, Big DAISHOWA Inc, Kennametal Inc, Berkshire Hathaway Inc, Sandvik AB. |
COVID-19 Impact on Global Metal Cutting Tool Market
The Covid pandemic has significantly impacted the Global Metal Cutting Tool market. The restrictions on movement and trade disruptions have disrupted a global supply chain, causing delays in the delivery of raw materials and finished products for Global Metal Cutting Tool manufacturing. Many industries have heavily reliant on Global Metal Cutting Tool, such as automotive, aerospace and manufacturing experienced reduced production and demand due to lockdowns. Temporary closures or reduced operating capacities of manufacturing facilities, including metalworking shops and machining centers, to comply with social distancing measures and government-mandated lockdowns have led to decreased demand for Global Metal Cutting Tool. Overall, the COVID-19 pandemic has presented significant challenges for the Global Metal Cutting Tool market, but it has also catalyzed innovation, digital transformation, and strategic initiatives to address these challenges and build a more resilient industry ecosystem.
Key Target Audience
- Manufacturing Industries
- Metal fabrication and machining workshops
- Tooling and machinery distributors
- Global Metal Cutting Tool manufacturers
- Automotive industry
- Aerospace and Defense sector
- Metal working engineers and technicians
Our in-depth analysis of the Metal Cutting Tool Market includes the following segments:
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| By Product Type: |
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| By Application: |
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| By Region: |
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Key Topics Covered in the Report
- Global Metal Cutting Tool Market Size (FY’2024-FY’2033)
- Overview of Global Metal Cutting Tool Market
- Segmentation of Global Metal Cutting Tool Market By Tool Type (Indexable inserts, solid round tools)
- Segmentation of Global Metal Cutting Tool Market By Product Type (Lathe, Drilling Machine, Milling Machine, Grinding Machine)
- Segmentation of Global Metal Cutting Tool Market By Applications (Automotive, electronics, construction, aerospace and defense)
- Statistical Snap of Global Metal Cutting Tool Market
- Expansion Analysis of Global Metal Cutting Tool Market
- Problems and Obstacles in Global Metal Cutting Tool Market
- Competitive Landscape in the Global Metal Cutting Tool Market
- Impact of COVID-19 and Demonetization on Global Metal Cutting Tool Market
- Details on Current Investment in Global Metal Cutting Tool Market
- Competitive Analysis of Global Metal Cutting Tool Market
- Prominent Players in the Global Metal Cutting Tool Market
- SWOT Analysis of Global Metal Cutting Tool Market
- Global Metal Cutting Tool Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Metal Cutting Tool Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Metal Cutting Tool Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Metal Cutting Tool Market
7. Global Metal Cutting Tool Market, By Tool Type (USD Million)
7.1. Global Metal Cutting Tool Market Value Share and Forecast, By Tool Type, 2024-20337.2. Indexable Inserts7.3. Solid Round tools
8. Global Metal Cutting Tool Market, By Product Type (USD Million)
8.1. Global Metal Cutting Tool Market Value Share and Forecast, By Product Type, 2024-20338.2. Lathe8.3. Drilling Machine8.4. Milling Machine8.5. Grinding Machine
9. Global Metal Cutting Tool Market, By Application (USD Million)
9.1. Global Metal Cutting Tool Market Value Share and Forecast, By Application, 2024-20339.2. Automotive9.3. Electronics9.4. Construction9.5. Aerospace and Defence
10. Global Metal Cutting Tool Market Forecast, 2020-2033 (USD Million)
10.1. Global Metal Cutting Tool Market Size and Market Share
11. Global Metal Cutting Tool Market, By Tool Type, 2020-2033 (USD Million)
11.1. Global Metal Cutting Tool Market Size and Market Share By Tool Type (2020-2026)11.2. Global Metal Cutting Tool Market Marke Size and Market Share By Tool Type (2027-2033)
12. Global Metal Cutting Tool Market, By Product Type, 2020-2033 (USD Million)
12.1. Global Metal Cutting Tool Market Size and Market Share By Product Type (2020-2026)12.2. Global Metal Cutting Tool Market Size and Market Share By Product Type (2027-2033)
13. Global Metal Cutting Tool Market, By Application, 2020-2033 (USD Million)
13.1. Global Metal Cutting Tool Market Size and Market Share By Application (2020-2026)13.2. Global Metal Cutting Tool Market Size and Market Share By Application (2027-2033)
14. Global Metal Cutting Tool Market, By Region, 2020-2033 (USD Million)
14.1. Global Metal Cutting Tool Market Size and Market Share By Region (2020-2026)14.2. Global Metal Cutting Tool Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific
14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada14.6.2. Mexico14.6.3. United States
14.7. Latin America
14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. Tiangong International Co.
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. D N Solutions
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Proterial Ltd
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. FANUC Corporation
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. Komatsu Ltd
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Amade Machine Tools Co. Ltd
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. Big DAISHOWA Inc.
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. Kennametal Inc.
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. Berkshire Hathway Inc
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Sandvik AB.
15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Metal Cutting Tool Market is projected to reach USD 111.92 billion by 2033, growing at a CAGR of 4.31% during the forecast period.
Metal Cutting Tool Market grew in Market size from 2022. The Market is expected to reach USD 111.92 billion by 2033, at a CAGR of 4.31% during the forecast period.
Metal Cutting Tool Market CAGR of 4.31% during the forecast period.
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Metal Cutting Tool Market size is USD 111.92 billion from 2023 to 2033.
Metal Cutting Tool Market Segment is covered By Tools Type, By Product Type, By Application.
The North America is anticipated to have the highest Market share in the Metal Cutting Tool Market.
The key players in the Market include Companies Covered Tiangong International Co., D N Solutions, Proterial Ltd., FANUC Corporation, Komatsu Ltd, Amada Machine Tools Ltd, Big DAISHOWA Inc, Kennametal Inc, Berkshire Hathaway Inc, Sandvik AB.
A collection of tools used to transform metals or other materials into different machine components are referred to as "machine tools".
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