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The global metal cutting tools market is expected to grow at CAGR 4% in the forecast period of 2024-2032, being driven by the rising construction activities in emerging nations and an increasing need to develop superior-quality products.
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Rapid growth in the automotive industry is the key driving factor for the metal cutting tools industry. Further, the global market for metal cutting tools is expected to witness recovery in major end-use industries in the developed countries. In addition, the rise in production of light vehicles will create significant demand for new welded automotive components, as a result, creating significant demand for metal cutting tools over the forecast period. These tools will continue to account for a major share of the total machine tools market in the forecast period.
Metal cutting tools are a kind of machine tools that ensure effective manufacturing of critical and complex components with ease and absolute precision. Metal cutting tools are run by electric motors and are used for many cutting processes such as turning, milling, grinding, and boring, to finish the specified cut on the metal work piece.
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Based on product type, the market is divided into:
By application, the market is divided into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The rise in demand for automation in factories is increasing the utilization of smart manufacturing technologies for the production process and product development. The rise of Industry 4.0 is pushing the need for interconnected machinery, which in turn is driving machines conducive to predictive maintenance. This is where more metal cutting tools are projected to be put to use. The growth in demand for metal cutting tools from various other sectors, such as food processing, construction, packaging is driving the general trend.
The report presents a detailed analysis of the following key players in the global metal cutting tools market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Metal Cutting Tools Market Analysis
8.1 Key Industry Highlights
8.2 Global Metal Cutting Tools Historical Market (2018-2023)
8.3 Global Metal Cutting Tools Market Forecast (2024-2032)
8.4 Global Metal Cutting Tools Market by Product
8.4.1 Machining Centre
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Turning Centre
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Lathe Machine
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Boring Machine
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Grinding Machine
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Milling Machine
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.6 Drilling Machine
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Metal Cutting Tools Market by Application
8.5.1 Automotive
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Industrial Machinery Manufacturing
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Energy and Power
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Marine, Aerospace and Defense
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Metal Cutting Tools Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Metal Cutting Tools Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Metal Cutting Tools Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Metal Cutting Tools Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Metal Cutting Tools Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Metal Cutting Tools Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code - 820330)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Amada Co., Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Fanuc UK Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Nachi-Fujikoshi Corp.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Sandvik AB
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Ceratizit Group
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Metal Cutting Tools Market: Key Industry Highlights, 2018 and 2032
2. Global Metal Cutting Tools Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Metal Cutting Tools Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Metal Cutting Tools Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Metal Cutting Tools Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Metal Cutting Tools Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Metal Cutting Tools Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Major Importing Countries by Volume (2020)
19. Major Exporting Countries by Volume (2020)
20. Major Importing Countries by Value (2020)
21. Major Exporting Countries by Value (2020)
22. Global Metal Cutting Tools Market Structure
The global metal cutting tools market is projected to grow at a CAGR of 4% between 2024 and 2032.
The industry is primarily being driven by the growing demand to manufacture high-quality items, increase in demand for metal cutting tools from other industries, such as food processing, construction, and packaging, growth in the automotive industry, and rise in production of light vehicles.
The key trends propelling the industry forward are the increasing demand for networked machinery in industry 4.0 and expanding construction activity.
The major regions in the industry are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The various products are machining centre, turning centre, lathe machine, boring machine, grinding machine, milling machine, and drilling machine, among others.
By application, the market is divided into automotive, industrial machinery manufacturing, energy and power, marine, aerospace and defence, among others.
The major players in the industry are Amada Co., Ltd., Fanuc UK Ltd, Nachi-Fujikoshi Corp., Sandvik AB, and Ceratizit Group, among others.
The global metal cutting tools market is being driven by the expanding construction activity paired with a growing demand to manufacture high-quality items in the historical period. Aided by the growth in the automotive industry and increasing demand for networked machinery in industry 4.0, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the global metal cutting tools industry can be segmented into machining centre, lathe machine, boring machine, grinding machine, milling machine, and drilling machine, among others. By application, automotive, industrial machinery manufacturing, energy and power, marine, aerospace and defence, among others are the various sectors. The major regional markets for metal cutting tools are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific. The key players in the above market include Amada Co., Ltd., Fanuc UK Ltd, Nachi-Fujikoshi Corp., Sandvik AB, and Ceratizit Group, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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