NEW YORK, July 27, 2020 /PRNewswire/ --
Report Scope:
This study provides figures for 2019 and CAGR projections for 2021 to 2025 for the global and regional markets. The projections are based on primary contacts and our understanding of the key market drivers and their impact from historical and analytical perspectives.
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This study presents both quantitative and qualitative analyses.In quantitative analysis, we included market-related information like market value.
In the qualitative analysis, the study covers market dynamics, macroeconomic industrial scenario, market definition, and other factors that impact the global market for carbide tools.
This report also considers the impact of COVID-19 on end-user industries.
The global market for carbide tools is segmented into three categories: tool type, coating type and end-use industries.
- Type of tool.
- Drilling tools
- Flat drills.
- Twist drills.
- Step and gun drills.
- Burnishing and core drills.
- Others
- Cutting tools.
- Milling tools.
- End mills.
- Face mills.
- Reamers.
- Steps reamers.
- Taper reamers.
- Chucking reamers.
- Others.
- Burrs.
- Boring tools.
- Inserts.
- Countersinks.
- Engraving tools.
- Counterbores.
- Routers.
- Others.
- Coating type.
- Coated.
- Noncoated.
- End-user industry.
- Automotive and transportation.
- Automotive.
- Aerospace.
- Railway.
- Marine.
- Construction.
- General manufacturing.
- Furniture and carpentry.
- Oil and gas.
- Power and energy.
- Mining.
- Electronics.
- Defense and military.
- Healthcare and medical.
- Others.
This report defines various market sectors, identifies key companies, and analyzes the markets to provide a five-year market forecast. In the final section, the study profiles companies, their key developments and overall market strategy for the market for carbide tools.
Report Includes:
- 33 data tables and 13 additional tables
- An overview of the global markets for carbide tools or cemented carbide tools, extensively used in metal working operations
- Analyses of the global market trends, with data corresponding to market size for 2019, estimated data for 2020-2024 and projections of compound annual growth rates (CAGRs) through 2025
- Information on market dynamics, macroeconomic industrial scenario, market value & pricing, value chain analysis, and other factors that stimulus and impact the global carbide tools market
- Insight into the COVID-19 pandemic impact on end use industries of carbide cutting tools
- Discussion of viable technology drivers through a comprehensive look at Industry 4.0 controlling tools within the industrial network infrastructure, end users and applications of these CNC machines across workshops
- Assessment of the global competitive landscape featuring leading manufacturers and suppliers of carbide tools and their corresponding market share analysis
- Review of approved patents and allotments of patents for carbide tools
- Descriptive company profiles of major vendor companies, including ARCH Cutting Tools, Carbide Cutting Tools SC Inc., Forbes & Co. Ltd., Mitsubishi Materials Corp., and Sandvik AB
Summary:
The global market for carbide tools, which reached $REDACTED billion in 2019, is estimated to reach $REDACTED billion by 2025, with a CAGR of REDACTED% during 2021-2025, the forecast period.
In the tool type segment, drilling, milling, and inserts segment are expected to account for REDACTED% share of the global market for carbide tools in 2020.Inserts and milling tools are expected to grow significantly during the forecast period due to rising demand from the automotive and aerospace industry.
Milling tools as a segment is expected to reach $REDACTED billion by 2025.Inserts as a segment is expected to reach $REDACTED billion by 2025.
Routers as a segment should grow at a CAGR of REDACTED%.
Asia Pacific as a region is projected to dominate the global market for carbide tools during the forecast period, reaching $REDACTED billion in 2025.Europe as a region expected to reach $REDACTED billion during the forecast period.
The automotive and transportation segment is a key contributor of global market growth.
The increasing number of alternative fuel vehicles and technological advancements of the cutting tool industry may hamper the demand for carbide tools during the forecast period. The market is mature in developed countries such as the U.S. and Germany, but in developing countries such as India and China the market should continue expand as it gradually figures to replace conventional vehicles completely.
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