Report overview
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.
This report aims to provide a comprehensive presentation of the global market for Cutting Tools, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cutting Tools. This report contains market size and forecasts of Cutting Tools in global, including the following market information:
Global Cutting Tools Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Cutting Tools Market Sales, 2018-2023, 2024-2029, (M Units)
Global top five Cutting Tools companies in 2022 (%)
The global Cutting Tools market was valued at US$ 24690 million in 2022 and is projected to reach US$ 36260 million by 2029, at a CAGR of 5.6% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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.
We surveyed the Cutting Tools manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Cutting Tools Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global Cutting Tools Market Segment Percentages, by Type, 2022 (%)
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others
Global Cutting Tools Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global Cutting Tools Market Segment Percentages, by Application, 2022 (%)
Machinery
Automotive
Aerospace
Energy
Others
Global Cutting Tools Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global Cutting Tools Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Cutting Tools revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Cutting Tools revenues share in global market, 2022 (%)
Key companies Cutting Tools sales in global market, 2018-2023 (Estimated), (M Units)
Key companies Cutting Tools sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
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
Outline of Major Chapters:
Chapter 1: Introduces the definition of Cutting Tools, market overview.
Chapter 2: Global Cutting Tools market size in revenue and volume.
Chapter 3: Detailed analysis of Cutting Tools manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Cutting Tools in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Cutting Tools capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
