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PUBLISHER: IMARC | PRODUCT CODE: 1541197
PUBLISHER: IMARC | PRODUCT CODE: 1541197
High Speed Steel Cutting Tools Market Report by Type, Technology (Conventional, CNC ), End Use Industry, and Region 2024-2032
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PAGES: 150 Pages
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The global high speed steel cutting tools market size reached US$ 8.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
High speed steel (HSS) cutting tools refer to various mechanical equipment used for milling, tapping, drilling, cutting, shaping, grinding, boring and casting steel products. Some of the commonly used HSS cutting tools include drill bits, solid boring bars, chasers, counterbores, countersinks, extractors, knurls, saw blades, taps and end mills. In comparison to their traditional counterparts, HSS cutting tools use particle metallurgy, have improved design, operate at a high cutting speed, can function under extreme temperatures and are resistant to corrosion and wear and tear. As a result, they find extensive applications across various industries, such as oil & gas, automotive, marine, aerospace, defense and energy and power.
Significant growth in the manufacturing industry across the globe represents one of the key factors creating a positive impact on the market. HSS cutting tools are crucial for uniformity in the quality of products during mass production and high-temperature operations. Furthermore, the widespread adoption of these tools in the automotive industry is providing a thrust to the market growth. Due to their high precision, durability, and repeatability, they are used for milling, grinding and broaching various automobile components. Additionally, various product innovations, such as the development of novel coating technologies for the tools and the manufacturing of bits with adjustable composition, are also contributing to the market growth. The market players are also integrating cutting tools with the internet-of-things (IoT), and offering tools with minimal vibrations, increased precision and higher speeds. Other factors, including the increasing investments in the metalworking industries and the advent of industry 4.0, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global high speed steel cutting tools market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, technology and end use industry.
Breakup by Type:
Milling
Drilling
Tapping
Reaming and Counterboring
Broaching
Others
Breakup by Technology:
Conventional
CNC (Computerized Numerical Control)
Breakup by End Use Industry:
Automotive
Aerospace and Defense
Oil and Gas
Energy and Power
Marine
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Addison & Co. Ltd. (Amalgamations Group), Big Kaiser Precision Tooling Inc. (Heinz Kaiser AG), Black & Decker Corporation (Stanley Black & Decker Inc.), Erasteel Inc. (Eramet-SLN), Kennametal Inc., Nachi America Inc. (Nachi-Fujikoshi Corp.), Niagara Cutter LLC (Seco Tools AB), OSG Korea Corporation, Sandvik AB and Sumitomo Electric Industries.
Key Questions Answered in This Report:
- How has the global high speed steel cutting tools market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global high speed steel cutting tools market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global high speed steel cutting tools market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112024A3727
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global High Speed Steel Cutting Tools Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Milling
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Drilling
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Tapping
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Reaming and Counterboring
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Broaching
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Conventional
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 CNC (Computerized Numerical Control)
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by End Use Industry
- 8.1 Automotive
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Aerospace and Defense
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Oil and Gas
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Energy and Power
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Marine
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Addison & Co. Ltd. (Amalgamations Group)
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Big Kaiser Precision Tooling Inc. (Heinz Kaiser AG)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Black & Decker Corporation (Stanley Black & Decker Inc.)
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Erasteel Inc. (Eramet-SLN)
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.5 Kennametal Inc.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Nachi America Inc. (Nachi-Fujikoshi Corp.)
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Niagara Cutter LLC (Seco Tools AB)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 OSG Korea Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Sandvik AB
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Sumitomo Electric Industries
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.1 Addison & Co. Ltd. (Amalgamations Group)
Product Code: SR112024A3727
List of Figures
- Figure 1: Global: High Speed Steel Cutting Tools Market: Major Drivers and Challenges
- Figure 2: Global: High Speed Steel Cutting Tools Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: High Speed Steel Cutting Tools Market: Breakup by Type (in %), 2023
- Figure 4: Global: High Speed Steel Cutting Tools Market: Breakup by Technology (in %), 2023
- Figure 5: Global: High Speed Steel Cutting Tools Market: Breakup by End Use Industry (in %), 2023
- Figure 6: Global: High Speed Steel Cutting Tools Market: Breakup by Region (in %), 2023
- Figure 7: Global: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 8: Global: High Speed Steel Cutting Tools (Milling Tools) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: High Speed Steel Cutting Tools (Milling Tools) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: High Speed Steel Cutting Tools (Drilling Tools) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: High Speed Steel Cutting Tools (Drilling Tools) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: High Speed Steel Cutting Tools (Tapping Tools) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: High Speed Steel Cutting Tools (Tapping Tools) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: High Speed Steel Cutting Tools (Reaming and Counterboring Tools) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: High Speed Steel Cutting Tools (Reaming and Counterboring Tools) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: High Speed Steel Cutting Tools (Broaching Tools) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: High Speed Steel Cutting Tools (Broaching Tools) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: High Speed Steel Cutting Tools (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: High Speed Steel Cutting Tools (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: High Speed Steel Cutting Tools (Conventional Cutting Technology) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: High Speed Steel Cutting Tools (Conventional Cutting Technology) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: High Speed Steel Cutting Tools (CNC Cutting Technology) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: High Speed Steel Cutting Tools (CNC Cutting Technology) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: High Speed Steel Cutting Tools (Automotive) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: High Speed Steel Cutting Tools (Automotive) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: High Speed Steel Cutting Tools (Aerospace and Defense) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: High Speed Steel Cutting Tools (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: High Speed Steel Cutting Tools (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: High Speed Steel Cutting Tools (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: High Speed Steel Cutting Tools (Energy and Power) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: High Speed Steel Cutting Tools (Energy and Power) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Global: High Speed Steel Cutting Tools (Marine) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Global: High Speed Steel Cutting Tools (Marine) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Global: High Speed Steel Cutting Tools (Other End Use Industries) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Global: High Speed Steel Cutting Tools (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: North America: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: North America: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: United States: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: United States: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Canada: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Canada: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Asia Pacific: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Asia Pacific: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: China: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: China: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Japan: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Japan: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: India: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: India: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: South Korea: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: South Korea: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Australia: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Australia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Indonesia: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Indonesia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Europe: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Europe: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Germany: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Germany: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: France: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: France: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: United Kingdom: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: United Kingdom: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Italy: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Italy: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Spain: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Spain: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Russia: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Russia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Latin America: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Latin America: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Brazil: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Brazil: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Mexico: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Mexico: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 80: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 81: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 82: Middle East and Africa: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2018 & 2023
- Figure 83: Middle East and Africa: High Speed Steel Cutting Tools Market: Breakup by Country (in %), 2023
- Figure 84: Middle East and Africa: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 85: Global: High Speed Steel Cutting Tools Industry: SWOT Analysis
- Figure 86: Global: High Speed Steel Cutting Tools Industry: Value Chain Analysis
- Figure 87: Global: High Speed Steel Cutting Tools Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: High Speed Steel Cutting Tools Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Technology (in Million US$), 2024-2032
- Table 4: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by End Use Industry (in Million US$), 2024-2032
- Table 5: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: High Speed Steel Cutting Tools Market: Competitive Structure
- Table 7: Global: High Speed Steel Cutting Tools Market: Key Players
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