DUBLIN--(BUSINESS WIRE)--The "High Speed Steel (HSS) Metal Cutting Tools - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis and the looming economic recession, the High Speed Steel (HSS) Metal Cutting Tools market worldwide will grow by a projected US$2.2 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 4%. HSS Tapping Tools, one of the segments analyzed and sized in this study, is forecast to grow at over 4.5% and reach a market size of US$3.7 Billion by the end of the analysis period.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The HSS Tapping Tools market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 2.6% CAGR. Within Europe Germany will add over US$54.2 Million to the region's size over the next 7 to 8 years. In addition, over US$55 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the HSS Tapping Tools segment will reach a market size of US$160.3 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the High Speed Steel (HSS) Metal Cutting Tools market.
Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 7.7% over the next couple of years and add approximately US$692.1 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing High Speed Steel (HSS) Metal Cutting Tools market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others,
- Addison & Co. Ltd.
- Aloris Tool Technology Co. Inc.
- BIG Kaiser Precision Tooling Inc.
- Greenfield Industries Inc.
- Guhring Inc.
- Kennametal Inc.
- LMT Group
- LMT Onsrud LP
- LMT Tools USA L.P.
- Morse Cutting Tools
- Nachi America Inc.
- Nachi-Fujikoshi Corp.
- Niagara Cutter LLC
- OSG Corporation
- OSG Korea Corporation
- OSG USA Inc.
- Raymond Limited
- Shanghai Machine Tool Works Ltd.
- Somta Tools (Pty) Ltd.
- Sutton Tools
- Tiangong International Co. Ltd.
- Tivoly SA
- Walter AG
YG-1 Tool Co. Ltd.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Metal Cutting Tools: An Intrinsic Part of Machine Tools Industry
- Recent Market Activity
- High Speed Steel (HSS): An Established Material for Manufacturing Cutting Tools
- HSS Metal Cutting Tools Market: An Overview
- Importance of the Manufacturing Sector for HSS Metal Cutting Tools: A Brief Review
- Market Prospects Remain Highly Favorable
- Developing Regions to Maintain their Prominent Role in the Market Growth
- Off-Shoring of Manufacturing Activity Boosts Demand
- Rapid Mushrooming of Job Shops Spurs Cutting Tools Sales
- Non-BRIC Emerging Markets to Exhibit Faster Growth in the Coming Decade
- Developed Regions Continue to Generate Opportunities
- Prevailing Macro Scenario Supports Market Expansion
- Global Competitor Market Shares
- High Speed Steel (HSS) Metal Cutting Tools Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Taps: The Largest & Fastest Growing HSS Cutting Tools Segment
- High Demand for Twist Drills Augurs Well
- Sales of HSS End Mills Gather Steam
- Growing Aircraft Production Instigates Significant Momentum
- Opportunity Indicators
- Stable Automotive Production Augurs Well
- Opportunity Indicators
- Heavy Equipment/Machinery Manufacturing Industry Extends Robust Opportunities
- Expanding Application Areas to Boost Future Prospects
- Robust Emphasis on Renewable Energy
- Growing Investments in Railway Infrastructure Upgrade
- Recycled & Scrap Metal Gain Traction in HSS Cutting Tools
- Stable Alloying Metal Prices Diminish Cost Pressures
- Growing Penetration of Cemented Carbide Cutting Tools: A Red Hot Issue
- Despite Strong Competition From Carbide Tools, HSS Metal Cutting Tools will Continue to Flourish
- Industry Pins Hopes on Powder Metallurgical HSS to Spearhead Market Revival
- HSS PM Tools Bank on Performance Attributes to Compete in the Market
- Technology Developments & Product Enhancements - Need of the Hour
Technology Evolution in the HSS Space
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 87
For more information about this report visit https://www.researchandmarkets.com/r/rjqeb2