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. 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.
Scope of the Report:
This report focuses on the Cutting Tools in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
In the Metal Cutting Tools market, Sandvik, Kennametal, Iscar, OSG respectively account for 3.88%, 1.62%, 1.24%, 1.06% market share in 2017, and the sum of the market share percentage held by the largest number of firms in this industry is less than 50%, which indicate that the Metal Cutting Tools industry is perfectly competitive and is considered low concentration. The reason is the manufacturing technology of Metal Cutting Tools is relatively more mature than some high-tech equipment.
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.
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.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the Metal Cutting Tools market to approach these areas. QYR analysis of the Metal Cutting Tools market indicated that Asia would account for the highest consumption in 2022 with close to 25.97 percent of global revenue coming from this region, and its keeping grow as the increasing of the market. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.
Although the market competition of Metal Cutting Tools is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of Metal Cutting Tools and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.
The worldwide market for Cutting Tools is expected to grow at a CAGR of roughly 2.4% over the next five years, will reach 39200 million US$ in 2023, from 34000 million US$ in 2017, according to a new GIR (Global Info Research) study.
Market Segment by Manufacturers, this report covers
Harbin No.1 Tool
Xiamen Golden Erge
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
High Speed Steel
Market Segment by Applications, can be divided into
There are 15 Chapters to deeply display the global Cutting Tools market.
Chapter 1, to describe Cutting Tools Introduction, product scope, market overview, market opportunities, market risk, market driving force;
Chapter 2, to analyze the top manufacturers of Cutting Tools, with sales, revenue, and price of Cutting Tools, in 2016 and 2017;
Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue and market share in 2016 and 2017;
Chapter 4, to show the global market by regions, with sales, revenue and market share of Cutting Tools, for each region, from 2013 to 2018;
Chapter 5, 6, 7, 8 and 9, to analyze the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in these regions;
Chapter 10 and 11, to show the market by type and application, with sales market share and growth rate by type, application, from 2013 to 2018;
Chapter 12, Cutting Tools market forecast, by regions, type and application, with sales and revenue, from 2018 to 2023;
Chapter 13, 14 and 15, to describe Cutting Tools sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source