Global Cutting Tools Market Research Report, by Tool Type (Indexable Inserts(IndexableTurning & Boring, Indexable Milling, Indexable Holemaking and Indexable Threading) and Solid Round Tools), By Material Type (Cemented Carbide, High Speed Steel, Ceramics, Stainless steel, Polycrystalline Diamond, Cubic Boron Nitride and Exotic materials), by Application(Automotive, Aerospace & Defence , Construction, Electronics, Oil & Gas, Power Generation, Wood, Die and Mold and Others), By Region – Forecast to 2023
The prominent players in the cutting tools market include Makita Power Tools India Pvt. Ltd. (India), Robert Bosch GmbH (Germany), Stanley Black & Decker, Inc. (U.S.), J.C. Bamford Excavators Limited (U.K.), ICS Cutting Tools, Inc. (U.S.), Hitachi Koki Co., Ltd. (Japan), Klein Tools, Inc. (U.S.), Snap on (U.S.), OTTO BAIER GmbH (Germany) and Hilti Corporation (Liechtenstein).Cutting Tools Market is expected to grow at a CAGR of 6.9% during the forecast period.
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Market Scenario
The market for cutting tools has been segmented based on product type, application and region. On the basis of product type, the market is segmented as hand cutting tools and power cutting tools. The power cutting tools segment dominates all the product types of the market. Growing demand from industries and the increasing use of power tools for DIY & household activities, drive the demand of the power tools. On the basis of application, the market is segmented as Industrial, Construction, Household and Others. Industrial sector dominates the application segment of the market. Growing demand from industrial sector drives the demand of the market. The increase in demand for automation and rapid industrialization, foster the use of power cutting tools.
Regional Analysis
On the basis of region, global cutting tools market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America dominates the global cutting tools market. Factors such as high labor cost and growth in the distribution channel, are expected to drive the growth of the market in North America region. The Asia-Pacific region is expected to be the fastest growing region for the cutting tools. Continuously growing automotive, and manufacturing sector in countries such as China and India are driving the growth of the market in the region.
The report for Global Cutting Tools Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the global Cutting Tools market are that of new product development.
In March 2017, Stanley Black & Decker, Inc. completes acquisition of Newell Brands tools business to expand the product portfolio.
On April 2017, Hilti Corporation announced new 22 V tool line.
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LIST OF TABLES
TABLE 1 GLOBAL CUTTING TOOLS MARKET, BY PRODUCT TYPE
TABLE 2 GLOBAL CUTTING TOOLS MARKET, BY APPLICATION
TABLE 3 GLOBAL CUTTING TOOLS MARKET, BY REGIONS
TABLE 4 NORTH AMERICA CUTTING TOOLS MARKET, BY COUNTRY
TABLE 5 NORTH AMERICA CUTTING TOOLS MARKET, BY PRODUCT TYPE
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LIST OF FIGURES
FIGURE 1 RESEARCH PRODUCT TYPE
FIGURE 2 GLOBAL CUTTING TOOLS MARKET: BY PRODUCT TYPE(%)
FIGURE 3 GLOBAL CUTTING TOOLS MARKET: BY APPLICATION(%)
FIGURE 4 GLOBAL CUTTING TOOLS MARKET: BY REGION
FIGURE 5 NORTH AMERICA CUTTING TOOLS MARKET, BY PRODUCT TYPE(%)
Continued…….
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