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Metal Cutting Tools Market by Product, Application, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 178
  • SKU: IRTNTR43164
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The metal-cutting tools market is estimated to grow at a CAGR of 4.91% between 2022 and 2027. The size of the market is forecast to increase by USD 5,753.56 million. The growth of the market depends on serval factors, including the increasing demand for metal parts in major end-user industries, the rise in construction activities in emerging nations of APAC, and the increasing need to develop superior-quality products. 

This report extensively covers market segmentation by product (milling tools, drilling tools, and other tools), application (automotive, construction, aerospace and defense, electronics, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Metal Cutting Tools Market During the Forecast Period?

Metal Cutting Tools Market Size

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Parent Market Analysis

Technavio categorizes the global metal-cutting tools market as a part of the global industrial machinery market. The parent global industrial machinery market covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Metal Cutting Tools Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing demand for metal parts in major end-user industries is notably driving the market growth, although factors such as fluctuating raw material prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Metal Cutting Tools Market Driver

The increasing demand for metal parts in major end-user industries is notably driving the metal-cutting tools market growth. Metal forming plays a crucial role in the automotive and aerospace and defense industries. Most passenger cars produced in high volumes are made of metal. Metals are the major raw materials used in these industries as they can easily be transformed and made into shapes as per the application requirements. With the current focus on lean manufacturing and enhanced operational efficiency through various measures such as cost-cutting, the metal forming process will become a highly valuable service for OEMs. Since the automotive and aerospace and defense industries are major end-users in the metal industry, increasing investments in these industries drive the global metal sawing machine market.

The aerospace and defense sector is another key end-user of metals. Companies that manufacture aircraft use specialized high-strength, lightweight alloys to manufacture aircraft components and bodies. The high focus on safety makes it necessary that even the smallest fabricated metal parts used to build aerospace components have a high tolerance and meet stringent quality standards. Besides, all metal parts used in aircraft must be durable and withstand fluctuations in pressure and temperatures, which are created during flight. The increasing investments in the automotive and aerospace and defense industry have raised the demand for metal-cutting tools.

Key Metal Cutting Tools Market Trend

The growing market for high-speed steel-cutting tools is a major trend in the metal-cutting tools market. HSS metal-cutting tools are used by companies across various sectors. Companies are using these tools for increased ease and efficiency in the development of quality products. Moreover, customers across the globe are insisting on superior-quality products in minimal time and at a reduced cost. Therefore, several organizations have begun to deploy HSS metal-cutting tools such as milling tools, drilling tools, tapping tools, reaming tools, counter-boring tools, broaching tools, and gear-cutting tools.

The effective deployment of these HSS metal-cutting tools helps in reducing the overall lead time of product development. It also enables organizations to develop products with superior quality to achieve a higher customer satisfaction level. With the growing need for the development of superior-quality products and the increase in outsourcing and investments in several developing countries, the global HSS metal-cutting tools market is expected to grow at a significant rate during the forecast period.

Key Metal Cutting Tools Market Challenge

Fluctuating raw material prices is a major challenge impeding the metal-cutting tools market growth. The capital requirement of the cutting tool manufacturers is required to provide advanced and innovative tools in the market, which has grown considerably. Inputs such as iron and steel, aluminum, stainless steel, titanium, brass, copper, and other alloys are necessary to manufacture machine tools for drilling, boring, lathes, gear cutting, grinding, and polishing machines. These raw materials account for about 48% of the overall manufacturing cost of machine tools, while labor costs account for about 27%.

The fluctuating raw material prices disrupt the pricing strategy of machine tool manufacturers. In addition, the necessity to train the workforce increases the cost to the companies. Manufacturers also incur additional costs for hiring consultants or design specialists. All these factors add to the manufacturing costs, thus affecting the growth of the global metal-cutting tools market. 

Key Metal Cutting Tools Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Metal Cutting Tools Market Share by Geography

Global Metal Cutting Tools Market Customer Landscape

Who are the Major Metal Cutting Tools Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

DMG MORI Co Ltd. - The company operates under two segments including machine tools, and industrial services, with a high focus on machine tools. The company under this segment?offers high-performance and high-efficiency machine tools. The company's key offerings include?a variety of cutting machines and tools.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AMADA Co. Ltd.
  • Amalgamations Group
  • Berkenhoff GmbH
  • CERATIZIT SA
  • Colfax Corp.
  • FANUC Corp.
  • Gedik Welding Inc
  • Illinois Tool Works Inc.
  • IPG Photonics Corp.
  • Jenoptik AG
  • Jinan SENFENG Technology Co. Ltd
  • Kobe Steel Ltd.
  • Laserline GmbH
  • Manufacturing Technology Inc.
  • Mitsubishi Electric Corp.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Metal Cutting Tools Market?

The market share growth by the milling tools segment will be significant during the forecast period. Milling tools, often known as milling cutters, are used in milling machines from milling operations.

Metal Cutting Tools Market Size

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The milling tools segment shows a gradual increase in the market share of USD 2,318.53 million in 2017 and continued to grow until 2021Milling cutters are available in various types, such as slitting cutters, milling cutters, end mills, and gear cutters. They all are used for different sets of applications. Therefore, these factors will accelerate the focused market growth.

Metal Cutting Tools Market Share by Geography

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APAC is projected to contribute 47% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Metal cutting tools are essential for cutting and molding steel structures to create beams, columns, and steel members. The increasing number of construction activities in emerging countries and the rising government spending on the development of infrastructure will drive the growth of the metal-cutting tools market in APAC during the forecast period.

Commercial and residential constructions are growing significantly in the emerging economies of the region. These infrastructure projects rely on the structural metal fabrication to make various structural metal products. Metal machining allows the easy fabrication of mezzanines, access platforms, columns, trusses, beams, industrial stairs, and handrails. The regional metal-cutting tools market is expected to grow steadily during the forecast period, owing to the need for new residential and commercial infrastructure for the expanding urban population base.

In 2020, the COVID-19 pandemic adversely impacted several countries in the region which resulted in the temporary shutdown of construction activities, automobile manufacturing, and several other business-related activities.  However, in 2021, the construction, automobile, and manufacturing industries have witnessed a rebound, thus fueling the demand for metal-cutting tools, owing to the initiation of vaccination drives in the region. Therefore, the metal-cutting tools market is expected to grow during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Milling tools, Drilling tools, and Other tools), Application (Automotive, Construction, Aerospace and Defense, Electronics, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • Product Outlook (USD Million, 2017 - 2027)
    • Milling tools
    • Drilling tools
    • Other tools
  • Application Outlook (USD Million, 2017 - 2027)
    • Automotive
    • Construction
    • Aerospace and defense
    • Electronics
    • Others
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Metal Cutting Tools Market Scope

Report Coverage

Details

Page number

178

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.91%

Market growth 2023-2027

USD 5,753.56 million

Market structure

Fragmented

YoY growth (%)

3.9

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 47%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AMADA Co. Ltd., Amalgamations Group, Berkenhoff GmbH, CERATIZIT SA, Colfax Corp., DMG MORI Co Ltd, FANUC Corp., Gedik Welding Inc, Illinois Tool Works Inc., IPG Photonics Corp., Jenoptik AG, Jinan SENFENG Technology Co. Ltd, Kobe Steel Ltd., Laserline GmbH, Manufacturing Technology Inc., Mitsubishi Electric Corp., Sandvik Coromant, Schlatter Industries AG, The Lincoln Electric Co., and TRUMPF SE Co. KG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Metal Cutting Tools Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the metal-cutting tools market  between 2023 and 2027
  • Precise estimation of the metal cutting tools market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of metal-cutting tools market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global metal cutting tools market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global metal cutting tools market 2017 - 2021 ($ million)
    • 4.2 Geography Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.3 Product Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.4 Application Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Milling tools - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Milling tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Milling tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Milling tools - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Milling tools - Year-over-year growth 2022-2027 (%)
    • 6.4 Drilling tools - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Drilling tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Drilling tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Drilling tools - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Drilling tools - Year-over-year growth 2022-2027 (%)
    • 6.5 Other tools - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Other tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Other tools - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Other tools - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Other tools - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Product
      • Exhibit 46: Market opportunity by Product ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 47: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on Application - Market share 2022-2027 (%)
    • 7.2 Comparison by Application
      • Exhibit 49: Chart on Comparison by Application
      • Exhibit 50: Data Table on Comparison by Application
    • 7.3 Automotive - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Automotive - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Automotive - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Automotive - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Automotive - Year-over-year growth 2022-2027 (%)
    • 7.4 Construction - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Construction - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Construction - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Construction - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Construction - Year-over-year growth 2022-2027 (%)
    • 7.5 Aerospace and defense - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Aerospace and defense - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Aerospace and defense - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Aerospace and defense - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Aerospace and defense - Year-over-year growth 2022-2027 (%)
    • 7.6 Electronics - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Electronics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Electronics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Electronics - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Electronics - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by Application
      • Exhibit 71: Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 73: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 74: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 75: Chart on Geographic comparison
      • Exhibit 76: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 101: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 India - Market size and forecast 2022-2027
      • Exhibit 113: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 114: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 115: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 116: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 117: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 118: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 119: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 120: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 121: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 122: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 123: Matrix on vendor position and classification
            • 12.3 AMADA Co. Ltd.
              • Exhibit 124: AMADA Co. Ltd. - Overview
              • Exhibit 125: AMADA Co. Ltd. - Business segments
              • Exhibit 126: AMADA Co. Ltd. - Key news
              • Exhibit 127: AMADA Co. Ltd. - Key offerings
              • Exhibit 128: AMADA Co. Ltd. - Segment focus
            • 12.4 Berkenhoff GmbH
              • Exhibit 129: Berkenhoff GmbH - Overview
              • Exhibit 130: Berkenhoff GmbH - Product / Service
              • Exhibit 131: Berkenhoff GmbH - Key offerings
            • 12.5 Colfax Corp.
              • Exhibit 132: Colfax Corp. - Overview
              • Exhibit 133: Colfax Corp. - Product / Service
              • Exhibit 134: Colfax Corp. - Key offerings
            • 12.6 DMG MORI Co Ltd
              • Exhibit 135: DMG MORI Co Ltd - Overview
              • Exhibit 136: DMG MORI Co Ltd - Business segments
              • Exhibit 137: DMG MORI Co Ltd - Key offerings
              • Exhibit 138: DMG MORI Co Ltd - Segment focus
            • 12.7 FANUC Corp.
              • Exhibit 139: FANUC Corp. - Overview
              • Exhibit 140: FANUC Corp. - Product / Service
              • Exhibit 141: FANUC Corp. - Key offerings
            • 12.8 Gedik Welding Inc
              • Exhibit 142: Gedik Welding Inc - Overview
              • Exhibit 143: Gedik Welding Inc - Product / Service
              • Exhibit 144: Gedik Welding Inc - Key offerings
            • 12.9 Illinois Tool Works Inc.
              • Exhibit 145: Illinois Tool Works Inc. - Overview
              • Exhibit 146: Illinois Tool Works Inc. - Business segments
              • Exhibit 147: Illinois Tool Works Inc. - Key offerings
              • Exhibit 148: Illinois Tool Works Inc. - Segment focus
            • 12.10 IPG Photonics Corp.
              • Exhibit 149: IPG Photonics Corp. - Overview
              • Exhibit 150: IPG Photonics Corp. - Product / Service
              • Exhibit 151: IPG Photonics Corp. - Key offerings
            • 12.11 Jenoptik AG
              • Exhibit 152: Jenoptik AG - Overview
              • Exhibit 153: Jenoptik AG - Business segments
              • Exhibit 154: Jenoptik AG - Key news
              • Exhibit 155: Jenoptik AG - Key offerings
              • Exhibit 156: Jenoptik AG - Segment focus
            • 12.12 Jinan SENFENG Technology Co. Ltd
              • Exhibit 157: Jinan SENFENG Technology Co. Ltd - Overview
              • Exhibit 158: Jinan SENFENG Technology Co. Ltd - Product / Service
              • Exhibit 159: Jinan SENFENG Technology Co. Ltd - Key offerings
            • 12.13 Kobe Steel Ltd.
              • Exhibit 160: Kobe Steel Ltd. - Overview
              • Exhibit 161: Kobe Steel Ltd. - Business segments
              • Exhibit 162: Kobe Steel Ltd. - Key offerings
              • Exhibit 163: Kobe Steel Ltd. - Segment focus
            • 12.14 Laserline GmbH
              • Exhibit 164: Laserline GmbH - Overview
              • Exhibit 165: Laserline GmbH - Product / Service
              • Exhibit 166: Laserline GmbH - Key offerings
            • 12.15 Mitsubishi Electric Corp.
              • Exhibit 167: Mitsubishi Electric Corp. - Overview
              • Exhibit 168: Mitsubishi Electric Corp. - Business segments
              • Exhibit 169: Mitsubishi Electric Corp. - Key news
              • Exhibit 170: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 171: Mitsubishi Electric Corp. - Segment focus
            • 12.16 Sandvik Coromant
              • Exhibit 172: Sandvik Coromant - Overview
              • Exhibit 173: Sandvik Coromant - Product / Service
              • Exhibit 174: Sandvik Coromant - Key offerings
            • 12.17 TRUMPF SE Co. KG
              • Exhibit 175: TRUMPF SE Co. KG - Overview
              • Exhibit 176: TRUMPF SE Co. KG - Business segments
              • Exhibit 177: TRUMPF SE Co. KG - Key offerings
              • Exhibit 178: TRUMPF SE Co. KG - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 179: Inclusions checklist
                • Exhibit 180: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 181: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 182: Research methodology
                • Exhibit 183: Validation techniques employed for market sizing
                • Exhibit 184: Information sources
              • 13.5 List of abbreviations
                • Exhibit 185: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Metal Cutting Tools market growth will increase by $5753.56 million during 2023-2027.
              The metal cutting tools market is expected to grow at a CAGR of 4.91% during 2023-2027.
              Technavio has segmented the metal cutting tools market by product (Milling tools, Drilling tools, and Other tools) ,application (Automotive, Construction, Aerospace and defense, Electronics, and Others) , and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              AMADA Co. Ltd., Amalgamations Group, Berkenhoff GmbH, CERATIZIT SA, Colfax Corp., DMG MORI Co Ltd, FANUC Corp., Gedik Welding Inc, Illinois Tool Works Inc., IPG Photonics Corp., Jenoptik AG, Jinan SENFENG Technology Co. Ltd, Kobe Steel Ltd., Laserline GmbH, Manufacturing Technology Inc., Mitsubishi Electric Corp., Sandvik Coromant, Schlatter Industries AG, The Lincoln Electric Co., TRUMPF SE Co. KG are a few of the key vendors in the metal cutting tools market.
              APAC will register the highest growth rate of 47.09% among the other regions. Therefore, the metal cutting tools market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the metal cutting tools market growth are:
              • Increasing demand for metal parts in major end-user industries
              • Additive manufacturing
              The metal cutting tools market vendors should focus on grabbing business opportunities from the milling tools segment as it accounted for the largest market share in the base year.
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