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Pulished Date April, 2021
ID: 11432
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Cutting Tools market segmentation by Type (linear cutting tools (tool bits, broaches) and rotary cutting tools (drill bits, countersinks, milling cutters, and reamers) By Application (milling, turning, drilling) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 11432
Pages: 175

Cutting Tools Market Size, Trends & Growth (2021 - 2026)

The cutting device, additionally perceived as a shaper, in mechanical terms, is a device used to eliminate material from the workpiece by shear distortion. Industrialization and assembling are indispensable commitments for the manageable advancement of any economy. The center of sufficient creation to satisfy a remarkable need in worldwide economies is the essential driver of the assembling cutting device market. This bounty of cutting instruments can be credited to substantial mechanical tasks and phenomenal creation requests emerging from worldwide industrialization and the requirement for a well-working and well-working economy.

The growing demand for production to capitalize on growing global demands is forcing manufacturers to use advanced tools to support efficient operations and maintain higher yields in less time. This creates joint opportunities for DCS (numerical control system) and cutting tools. A scanned design reduces the risk of compromising precision, which is an absolute must for cutting tools, thus elevating your application path.

Recent Developments:

  • OSG USA Inc., the main maker of taps, drills, factories, kicks the bucket, and indexable cutting devices, procured AMAMCO, an ISO 9001: 2008 and AS9100C ensured organization that makes great custom carbide apparatuses for producers of the aviation, auto, and clinical businesses.
  • Kennametal Inc. announced today that it has entered into a product supply agreement with Kyocera Corporation, based in Kyoto, Japan. The deal includes various initiatives such as private labeling, cross licensing, and sales and marketing.
  • Kennametal Inc. declared the dispatch of the WIDIA item bunch at EMO Milano 2009, Europe's driving metallurgy fair. As of now, this declaration finishes the movement of the entirety of its present brands of metal cutting apparatuses and device frameworks to two separate portfolios: WIDIA Products Group and Kennametal Products Group.
  • Big Kaiser offers a complete line of high precision cutting tools, Kaiser large cutting tools are the best choice to increase production capacity and quality in all applications, especially in extreme conditions.

Drivers and Restraints of Cutting Tools Market:


The principal driver recognized for the metal cutting devices market is the remarkable development of the car business. Also, the worldwide metal cutting apparatuses market is relied upon to extend because of development supported by recuperation in key end-use markets in the developed world. Furthermore, the developing creation of light vehicles will provoke a possible interest for new welded auto segments, which will produce interest for metal cutting apparatuses during the gauge time frame. These instruments will keep on representing most of the complete machine device market.


One of the primary variables hampering the development of the market is the change in the costs of crude materials. Notwithstanding, the developing interest for added substance production is a significant pattern that will acquire a foothold in the metal cutting device market. It is the way toward making 3D articles utilizing an advanced document. 3D imprinting in the aviation and car enterprises empowers the creation of complex calculations that are impractical with customary assembling strategies and will fundamentally help lessen capital expenses, crude material expenses, and scrap recuperation costs over the estimated time frame.

Cutting Tools Market Segmentation:

By Type:

  • Linear cutting tools
    • Tool bits
    • Broaches
  • Rotary cutting tools
    • Drill bits
    • Countersinks
    • Milling cutters
    • Reamers

Due to enduring application in many profit persuasion industries such as automotive, construction, oil and gas, and power generation, opportunities in the cutting tools market are advancing at a dizzying pace.

By Application:

  • Milling
  • Turning
  • Drilling

Metal cutting is one of the main applications due to the huge demand from high-growth sectors such as automotive (with sales of 97 million cars per year) and construction (most modern projects use steel structures instead of traditional concrete). After a thorough and in-depth analysis of application knowledge, milling was identified as the fastest-growing segment advancing with an application CAGR of 3.30% through 2025. A mill is a piece of equipment installed with blades and features a range of notable uses in the metallurgical industry for precise cuts. In addition to the metal industry, the thriving $ 300.12 billion metal recycling market is creating viable marketing opportunities for cutting tool milling.

Cutting Tools Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan

The Asia-Pacific locale is relied upon to overwhelm the market in the coming a long time because of development in the auto and modern areas. Besides, another deciding component is that with the quantity of nations expanding their protection spending plans, the worldwide market for metal cutting instruments is relied upon to fill soon. What's more, the quick industrialization and development of assembling enterprises in India and China are animating the requirement for devices and gear, which will impact the development of the metal cutting apparatuses market.

  1. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  2. Middle East and Africa

a. Middle East

b. Africa

Key Players of Market:

The metal cutting tools market is highly fragmented with the presence of various players. Leading vendors in the market are BIG KAISER Precision Tooling Inc., Kennametal, Nachi-Fujikoshi Corp., OSG USA, INC., Sandvik AB, Ceratizit S.A., Dewalt, Fraisa SA, Guhring, Inc., Kilowood Cutting Tools, Xiamen Golden Egret Special Alloy Co. Ltd., Zhuzhou Cemented Carbide Cutting Tool Co. Ltd., Tiangong International Co., LIMITED, Ingersoll Cutting Tool Company, Sumitomo Electric Hartmetall GmbH, Kyocera Unimerco, and ISCAR LTD. among others.


Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the epidemic is varied. While some industries will see lower demand, many others will remain unscathed and show promising growth opportunities. The emergence of COVID-19 has paralyzed the world. We understand that this health crisis has had an unprecedented impact on companies in all sectors. However, that too will pass. Increasing support from governments and various companies can help combat this highly contagious disease. Some industries are struggling and others are booming. In general, almost all sectors are expected to be affected by the pandemic.

We are making ongoing efforts to help your business sustain and grow during COVID-19 pandemics. Drawing on our experience and knowledge, we will provide you with an impact analysis of the coronavirus epidemic across all sectors to help you prepare for the future. After COVID-19, the global market size for machine tools is expected to reach $ 68.9 billion by 2021 from an estimated $ 65.6 billion in 2020, with a CAGR of 5.0%. The projections were based on the current decline in production in the automotive industry, which is the largest consumer of machine tools, and also on supply chain disruptions caused by the COVID-19 pandemic in manufacturing.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Cutting Tools Market, By Type                   

                    6.1.1 Liner Cutting Tools  

                    6.1.2 Rotary Cutting Tools

                    6.1.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Cutting Tools Market, By Application                    

                    6.2.1 Milling 

                    6.2.2 Turning         

                    6.2.3 Drilling

                    6.2.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     



                    7.2.2 By Type         

                    7.2.3 By Application

          7.3 Europe             

                    7.3.1 By Country     






                     Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Application

          7.4 Asia Pacific                 

                    7.4.1 By Country     




                     South Korea

                     South East Asia

                     Australia & NZ

                     Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Application

          7.5 Latin America             

                    7.5.1 By Country     




                     Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Application

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                     Middle East


                    7.6.2 By Type         

                    7.6.3 By Application

8. Key Player Analysis                           

          8.1 BIG KAISER Precision Tooling Inc.               

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Kennametal                

          8.3 Nachi-Fujikoshi Corp.           

          8.4 OSG USA, INC             

          8.5 Sandvik AB                 

          8.6 Ceratizit S.A               

          8.7 Dewalt             

          8.8 Fraisa SA          

          8.9 Guhring, Inc.              

          8.10 Kilowood Cutting Tools                 

9. Market Outlook & Investment Opportunities                     


          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Cutting Tools Market By Region, From 2021-2026 ( USD Billion )
  2. Global Cutting Tools Market By Type, From 2021-2026 ( USD Billion )
  3. Global Liner Cutting Tools Market By Region, From 2021-2026 ( USD Billion )
  4. Global Rotary Cutting Tools Market By Region, From 2021-2026 ( USD Billion )
  5. Global Cutting Tools Market By Application, From 2021-2026 ( USD Billion )
  6. Global Milling Market By Region, From 2021-2026 ( USD Billion )
  7. Global Turning Market By Region, From 2021-2026 ( USD Billion )
  8. Global Drilling Market By Region, From 2021-2026 ( USD Billion )
  9. Global Cutting Tools Market By Linear Cutting Tools, From 2021-2026 ( USD Million )
  10. Global Tool bits Market By Region, From 2021-2026 ( USD Million )
  11. Global Broaches Market By Region, From 2021-2026 ( USD Million )
  12. Global Cutting Tools Market By Rotary Cutting Tools, From 2021-2026 ( USD Million )
  13. Global Drill bits Market By Region, From 2021-2026 ( USD Million )
  14. Global Countersinks Market By Region, From 2021-2026 ( USD Million )
  15. Global Milling cutters Market By Region, From 2021-2026 ( USD Million )
  16. Global Reamers Market By Region, From 2021-2026 ( USD Million )

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