Technavio has been monitoring the metal cutting tools market and it is poised to grow by USD 10.24 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Metal Cutting Tools Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- Based on segmentation by product, which is the leading segment in the market?
- The milling tools are expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Growth in demand for additive manufacturing is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 6%, the incremental growth of the market is anticipated to be USD 10.24 billion.
- Who are the top players in the market?
- AMADA HOLDINGS Co. Ltd., Berkenhoff GmbH, Colfax Corp., DMG MORI Global Marketing GmbH, FANUC Corp., Gedik Welding, Illinois Tool Works Inc., Mitsubishi Electric Corp., Sandvik AB, and TRUMPF GmbH + Co. KG. are some of the major market participants.
- What are the key market drivers and challenges?
- Growth in automotive industry is one of the major factors driving the market. However, the increased competition from substitute products restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 36% of market growth.
The market is fragmented, and the degree of fragmentation book profits will accelerate during the forecast period. AMADA HOLDINGS Co. Ltd., Berkenhoff GmbH, Colfax Corp., DMG MORI Global Marketing GmbH, FANUC Corp., Gedik Welding, Illinois Tool Works Inc., Mitsubishi Electric Corp., Sandvik AB, and TRUMPF GmbH + Co. KG are some of the major market participants. The growth in automotive industry will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Metal Cutting Tools Market 2020-2024: Segmentation
Metal Cutting Tools Market is segmented as below:
- Milling Tools
- Drilling Tools
- Other Tools
- Geographic Landscape
- North America
- South America
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Metal Cutting Tools Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The metal cutting tools market report covers the following areas:
- Metal Cutting Tools Market Size
- Metal Cutting Tools Market Trends
- Metal Cutting Tools Market Analysis
This study identifies growth in demand for additive manufacturing as one of the prime reasons driving the metal cutting tools market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Metal Cutting Tools Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist metal cutting tools market growth during the next five years
- Estimation of the metal cutting tools market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the metal cutting tools market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of metal cutting tools market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Milling tools – Market size and forecast 2019-2024
- Drilling tools – Market size and forecast 2019-2024
- Other tools – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- AMADA HOLDINGS Co. Ltd.
- Berkenhoff GmbH
- Colfax Corp.
- DMG MORI Global Marketing GmbH
- FANUC Corp.
- Gedik Welding
- Illinois Tool Works Inc.
- Mitsubishi Electric Corp.
- Sandvik AB
- TRUMPF GmbH + Co. KG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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