LONDON, Feb. 8, 2017 /PRNewswire/ -- Cutting tool, also known as cutter, in industrial terms is any tool which is used to remove material from the work piece by means of shear deformation. Cutting or removal of material can be done by single-point or multipoint tools. Single-point tools are used in turning, shaping, planning and similar operations, and remove material by means of one cutting edge whereas milling and drilling tools are often multipoint tools. Grinding tools are also multipoint tools. Globally, increasing demand from the end-users is expected to remain one of the key growth drivers for cutting tools during the period of study.
Geographically, North America dominated the cutting tools market driven by higher demand and consumption cutting tools in various end-use applications. North America was followed by Asia-Pacific and Europe as second and third largest market for the cutting tools market. Asia Pacific is projected to have the fastest growth, owing to a rapidly expanding industrial network in in developing nations such as China and India in this region leading to higher demand for such tools.
This report identifies the global cutting tools market size for the years 2014-2016, and forecast of the same till year 2022. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to the global cutting tools market.
This report segments the global cutting tools market on the basis of tool grade, application, type and regional market as follows:
Cutting tools market research report is classified on the basis of tool grade. Some of the major tool grades covered in this report are as follows: High Speed Steel, Ceramics, Cermets, cBN/PcBN, Diamond
Cutting tools market research report is classified on the basis of application. Some of the major applications covered in this report are as follows: Milling, Turning, Drilling and Other
Cutting tools market research report is classified on the basis of type. Some of the major types covered in this report are as follows: Indexable, Solid
This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
This report identifies all the major companies operating in the cutting tools market.
Some of the major companies' profiles in detail are as follows:
Hitachi Metals Ltd (Hitachi Tool Engineering Ltd)
AB Sandvik Coromant
Ehwa Diamond Industrial Co., Ltd
BIAX Schmid & Wezel GmbH & Co. KG
Asahi Diamond Industrial Co Ltd.
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