LONDON--(BUSINESS WIRE)--Technavio forecast the global HSS metal cutting tools market to grow by USD 4.72 billion during 2020-2024. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 9%.
For the Right Perspective & Competitive Insights- Request Free Sample Report on Pandemic Recovery Analysis
Read the 127-page report with TOC on "HSS Metal Cutting Tools Market Analysis Report by Product (Milling, Drilling, Tapping, and Others), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/hss-metal-cutting-tools-market-industry-analysis
The HSS metal cutting tools market is driven by the growing market for fabricated metal products. In addition, the increasing demand for superior quality products and CNC machines is anticipated to boost the growth of the HSS metal cutting tools market.
The demand for fabricated metal products has increased significantly over the years. This is due to the increasing use of fabricated metals in applications such as small arms, ammunition, cutlery, stamped metal products, utensils, springs, fasteners, building products, tanks, cranes, and hardware. Also, the growth of the construction and machinery industry has further increased the demand for fabricated metals. These metals are manufactured using HSS metal cutting tools. Therefore, the rising demand for fabricated metal products is anticipated to fuel the growth of the global HSS metal cutting tools market during the forecast period.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Major Five HSS Metal Cutting Tools Companies:
BIG KAISER Precision Tooling Inc.
BIG KAISER Precision Tooling Inc. operates its business through the Unified segment. The company offers a wide range of bore diameters such as Indexable cutting tools, Solid Carbide cutting tools, and High-Speed Steel (HSS).
ERASTEEL operates its business through segments such as Technologies and Applications. The company offers different cutting tools including drills, gear cutting tools, milling cutters, reamers, deburring tools and tool bits, and taps and dies.
Kennametal Inc. operates its business through segments such as Industrial, Widia, and Infrastructure. The company offers different products such as Face Milling, Shoulder Milling, High-Feed Milling, SCEM, Holemaking, Turning & Grooving, Shell Mill Adapters, Shrink Fit Toolholders, and Hydraulic Chucks.
LMT Onsrud LP
LMT Onsrud LP operates its business through segments such as Metalworking and ROUTING. The company offers a range of materials such as axial preset gauge, bearing, cleaning supplies, collets, collet nuts and accessories, spindle drill adapters, and tool holders and accessories.
NACHI-FUJIKOSHI Corp. operates its business through segments such as Cutting tools, Machine tools, Robots, Bearings, Hydraulic equipment, and Others. The company offers various cutting tools such as AquaREVO Mills, AquaREVO Drills Oil-Hole, AquaREVO Drills Stub or Regular, and Hyper Z Spiral Tap or Hyper Z Point Tap.
Register for a free trial today and gain instant access to 17,000+ market research reports.
HSS Metal Cutting Tools Market Product Outlook (Revenue, USD Billion, 2019-2024)
- Milling - size and forecast 2019-2024
- Drilling - size and forecast 2019-2024
- Tapping - size and forecast 2019-2024
- Others - size and forecast 2019-2024
HSS Metal Cutting Tools Market Geography Outlook (Revenue, USD Billion, 2019-2024)
- APAC - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
- North America - size and forecast 2019-2024
- South America - size and forecast 2019-2024
Are you a start-up willing to make it big in the business? Grab an exclusive Report
Related Reports on Industrials Include:
Global Laser Cutting Machine Market - Global laser cutting machine market is segmented by product (fiber, solid-state, diode, and others), end-user (automotive, aerospace and defense, electrical and electronics, industrial machinery, and others), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Metal Cutting Tools Market - Global metal cutting tools market is segmented by product (milling tools, drilling tools, and other tools) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.