According to AMA, the Metal Cutting Tools market will register a CAGR of above 3.1% by 2026. The study covers a detailed analysis segmented by key business segments i.e. by type (Single Point Cutting Tool and Multi-Point Cutting Tool) , by application (Milling, Drilling, Turning, Grinding and Others) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Metal Cutting Tools market throughout the predicted period.
What is Metal Cutting Tools?
A metal cutting tool is used to remove material from a metal workpiece through the process of shear deformation. Metal cutting tools are powered by electric motors and are used for one of many cutting processes that include turning, milling, grinding, and boring, to complete the desired cut on the metal workpiece. Computer-numerical-controlled (CNC) metal-cutting machines are recent additions. An increase in the demand for advanced technologies and rising competition in the field of aerospace and marine has significantly increased the need for machining the components thereby increasing the scope for the metal cutting tool market.
The competition is expected to become even more intense in the years to come due to entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Metal Cutting Tools market analysis report suggests strategies Manufacturers can follow and recommends key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, including:
- BIG KAISER Precision Tooling Inc. (United States)
- Kennametal (United States)
- OSG USA, Inc. (United States)
- Dewalt (United States)
- Drillco Cutting Tools Inc. (United States)
- Guhring, Inc. (United States)
- Toolots Store (United States)
- Ingersoll Cutting Tool Company (United States)
- Sandvik AB (Sweden)
- Nachi-Fujikoshi Corp. (Japan)
On June 01, 2020, Sandvik has completed the acquisition of the cutting tools division of Quimmco Centro Tecnológico (QCT), a privately owned Mexican company offering integral machining solutions.
Increasing Demand for CNC Machines and Growth in Demand for Additive Manufacturing
- Fluctuating Raw Material Costs
- High Initial Investment and Maintenance Cost
Increase in Demand for Metal Cutting Tool with Less Electricity Consumption and Laser-based Metal Cutting Machines
Key highlights of the Global Metal Cutting Tools market Study:
CAGR of the market during the forecast period 2020-2026
Detailed information on factors that will accelerate the growth of the Metal Cutting Tools market for the next five years.
Forecast of the Global Metal Cutting Tools market size and its contribution to the parent market by type, application and by country.
Insights on upcoming trends and changes in consumer behaviour
Uncovering markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Metal Cutting Tools Manufacturers
Customization in the Report Available:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Metal Cutting Tools market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Metal Cutting Tools market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Metal Cutting Tool Manufacturers, Parts and Accessories Suppliers, Raw Material Suppliers, Distributors/Traders/Exporters/Importers and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.