Cutting Tools Market

In the context of machining, a cutting tool or cutter is any tool that is used to remove material from the workpiece by means of shear deformation. Cutting may be accomplished by single-point or multipoint tools. Single-point tools are used in turning, shaping, planing and similar operations, and remove material by means of one cutting edge. Machinery Industry and drilling tools are often multipoint tools. Energy Industry tools are also multipoint tools. Each grain of abrasive functions as a microscopic single-point cutting edge (although of high negative rake angle), and shears a tiny chip.

Cutting Tools Market contains market size and forecasts of Cutting Tools in global, including the following market information:

Global Cutting Tools Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global Cutting Tools Market Sales, 2017-2022, 2023-2028, (M Units)

Global top five Cutting Tools companies in 2021 (%)

The global Cutting Tools market was valued at 25160 million in 2021 and is projected to reach US$ 32510 million by 2028, at a CAGR of 3.7% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Cemented Carbide Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Cutting Tools include Sandvik, IMC Group, Mitsubishi, Kennametal, OSG, Sumitomo Electric, Mapal, Kyocera and Nachi-Fujikoshi, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Cutting Tools manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Cutting Tools Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (M Units)

Global Cutting Tools Market Segment Percentages, by Type, 2021 (%)

Cemented Carbide

High Speed Steel

Ceramics

Diamond

Others

Global Cutting Tools Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (M Units)

Global Cutting Tools Market Segment Percentages, by Application, 2021 (%)

Machinery Industry

Automotive Industry

Aerospace Industry

Energy Industry

Others

Global Cutting Tools Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (M Units)

Global Cutting Tools Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Cutting Tools revenues in global market, 2017-2022 (Estimated), ($ millions)

Key companies Cutting Tools revenues share in global market, 2021 (%)

Key companies Cutting Tools sales in global market, 2017-2022 (Estimated), (M Units)

Key companies Cutting Tools sales share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

Sandvik

IMC Group

Mitsubishi

Kennametal

OSG

Sumitomo Electric

Mapal

Kyocera

Nachi-Fujikoshi

YG-1

Shanghai Tool

ZCCCT

Union Tool

Korloy

LMT

Ceratizit

Guhring

Tivoly

Tiangong

Harbin No.1 Tool