Reports
Global Metal Cutting Tools Market: By Product: Machining Centre, Lathe Machine, Others; By Application: Automotive, Industrial Machinery Manufacturing, Energy and Power, Marine, Aerospace and Defense; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Metal Cutting Tools Market Outlook
The global metal cutting tools market is expected to grow at CAGR 4% in the forecast period of 2023-2028, being driven by the rising construction activities in emerging nations and an increasing need to develop superior-quality products.
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Growing Demand from the Automotive Sector in Developing Nations is Fuelling the Market Growth
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: Market Segmentation
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:
- Machining Centre
- Turning Centre
- Lathe Machine
- Boring Machine
- Grinding Machine
- Milling Machine
- Drilling Machine
- Others
By application, the market is divided into:
- Automotive
- Industrial Machinery Manufacturing
- Energy and Power
- Marine, Aerospace and Defense
- Others
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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Increasing Adoption of Industry 4.0 is Boosting the Market for Metal Cutting Tools
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.
Key Industry Players in the Global Metal Cutting Tools Market
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:
- Amada Co., Ltd.
- Fanuc UK Ltd
- Nachi-Fujikoshi Corp.
- Sandvik AB
- Ceratizit Group
- Others
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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Application, Region |
| Breakup by Product | Machining Centre, Lathe Machine, Boring Machine, Grinding Machine, Milling Machine, Drilling Machine, Others |
| Breakup by Application | Automotive, Industrial Machinery Manufacturing, Energy and Power, Marine, Aerospace and Defense, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Amada Co., Ltd., Fanuc UK Ltd, Nachi-Fujikoshi Corp., Sandvik AB, Ceratizit Group, Others |
| 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 Industry Opportunities and Challenges
8 Global Metal Cutting Tools Market Analysis
8.1 Key Industry Highlights
8.2 Global Metal Cutting Tools Historical Market (2018-2022)
8.3 Global Metal Cutting Tools Market Forecast (2023-2028)
8.4 Global Metal Cutting Tools Market by Product
8.4.1 Machining Centre
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Turning Centre
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Lathe Machine
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Boring Machine
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Grinding Machine
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Milling Machine
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.6 Drilling Machine
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Metal Cutting Tools Market by Application
8.5.1 Automotive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Industrial Machinery Manufacturing
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Energy and Power
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Marine, Aerospace and Defense
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Metal Cutting Tools Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Trade Data Analysis (HS Code - 820330)
11.1 Major Importing Countries
11.1.1 By Volume
11.1.2 By Value
11.2 Major Exporting Countries
11.2.1 By Volume
11.2.2 By Value
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Amada Co., Ltd.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Fanuc UK Ltd
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Nachi-Fujikoshi Corp.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Sandvik AB
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Ceratizit Group
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Metal Cutting Tools Market: Key Industry Highlights, 2018 and 2028
2. Global Metal Cutting Tools Historical Market: Breakup by Product (USD Billion), 2018-2022
3. Global Metal Cutting Tools Market Forecast: Breakup by Product (USD Billion), 2023-2028
4. Global Metal Cutting Tools Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Metal Cutting Tools Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Metal Cutting Tools Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Metal Cutting Tools Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Metal Cutting Tools Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Metal Cutting Tools Market Forecast: Breakup by Country (USD Billion), 2023-2028
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
Key Questions Answered in the Report
The global metal cutting tools market is projected to grow at a CAGR of 4% between 2023 and 2028.
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.
Analyst Review
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 2023-2028, 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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