According to the latest market research study by Technavio, the global metal cutting tools market is expected to grow at a CAGR of close to 9% during the forecast period 2017 to 2021.
This report by Technavio provides a competitive analysis of the global metal cutting tools market in terms of revenue and emerging market trends. The report also includes an up-to-date vendor analysis and forecasts for various market segments and all geographical segmentations.
Technavio research analysts categorize the market based on the product
Click here to request a free sample of this report
The top three revenue contributing product segments are discussed below
Milling tools: Milling tools, also known as milling cutters, are applied in machining centers for milling operations. Milling cutters are available in various types such as end mills, milling cutters, slitting cutters, and gear cutters and each of them is used in a different set of applications.
“Milling cutters and gear cutters are used for various purposes in the automotive and aerospace industries. The automotive and the aerospace industries are expected to grow at a robust pace, thus fueling the demand for these tools during the forecast period,” says Gaurav Mohindu, a lead analyst at Technavio for research on tools and components.
Drilling tools: Drills are essential tools applied in metalworking. The rising machine tools market will assist the drills market to post steady growth rate during the forecast period. Industrial sectors where automation is employed on a large scale such as medical devices, aerospace, and defense, industrial machinery, automotive, electrical and electronics, and renewable energy are showing signs of growth, and this is reflected in the stabilized manufacturing purchasing manager’s index (PMIs). Growth in these industries depicts that drilling tools will be prominent during the forecast period.
Turning tools: Turning tools consist of an insert, which can be replaced inside a turning tool body. Various features such as shape, material, and geometries differentiate inserts regarding distinctions. The typical material of choice is carbide, although diamond inserts and ceramic materials can be used for demanding applications. Protective coatings can be applied to tools to improve product lifecycles and ensure faster and smoother operations.
Ask an analyst to know more about this report
The top vendors operating in the global metal cutting tools market are:
- BIG KAISER
- Kennametal Foundation
- NACHI-FUJIKOSHI
- OSG
- Sandvik
The other prominent vendors in the market include CERATIZIT, DEWALT, FRAISA, Guhring, Hanjiang Tool, LMT Onsrud, Jiangsu Feida Drills, ISCAR, KYOCERA UNIMERCO, Ingersoll Cutting Tools, Mitsubishi Materials, MAPAL, Shanghai Tool Works, SECO, SUMITOMO ELECTRIC Hartmetall, Raymond, Travers Tool, Tiangong International, vhf, UNION TOOL, WNT, and ZCC Cutting Tools.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Metal Cutting Tools Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global DIY Tools Market 2017-2021
- Global Power Tool Accessories Market 2017-2021
- Global Lathe Machine Market 2016-2020
To read more press releases – click here
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
