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. Machinery Industry and drilling tools are often multipoint tools. Energy Industry 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.
This report contains market size and forecasts of Cutting Tools in global, including the following market information:
Global Cutting Tools Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Cutting Tools Market Sales, 2017-2022, 2023-2028, (M Units)
Global top five Cutting Tools companies in 2021 (%)
The global Cutting Tools market was valued at 24690 million in 2021 and is projected to reach US$ 36260 million by 2028, at a CAGR of 5.6% during the forecast period 2022-2028.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Cemented Carbide Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Cutting Tools include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG, Sumitomo Electric, Mapal, Kyocera and YG-1, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Cutting Tools manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Cutting Tools Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (M Units)
Global Cutting Tools Market Segment Percentages, by Type, 2021 (%)
Cemented Carbide
High Speed Steel
Ceramics
Diamond
Others
Global Cutting Tools Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (M Units)
Global Cutting Tools Market Segment Percentages, by Application, 2021 (%)
Machinery
Automotive
Aerospace
Energy
Others
Global Cutting Tools Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (M Units)
Global Cutting Tools Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Cutting Tools revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Cutting Tools revenues share in global market, 2021 (%)
Key companies Cutting Tools sales in global market, 2017-2022 (Estimated), (M Units)
Key companies Cutting Tools sales share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Sandvik
IMC Group
Mitsubishi
Kennametal
OSG
Sumitomo Electric
Mapal
Kyocera
YG-1
Nachi-Fujikoshi
ZCC·CT
Union Tool
Korloy
LMT
Ceratizit
Jiangsu Tiangong Tools Co., Ltd.
Shanghai Tool Works Co., Ltd.
OKE Precision Cutting Tools Co., Ltd.
Guhring
Tivoly