The report on the Carbide Tools market covers comprehensive information about market trends, volume (Thousand Units) and value (US$ Mn) projections, recent developments, dynamics (drivers, restraints, trends & opportunities) and competition landscape pertaining to the global Carbide Tools market for the study period 2018 to 2028.
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Estimated at a healthy Y-o-Y growth of 6.4%, global revenues of carbide tools market are set to exceed US$ 5 billion in 2019. A new Future Market Insights (FMI) study forecasts robust growth prospects for the global carbide tools market, prominently driven by fostering rate of adoption for automotive and fabrication applications. Drills and mills will remain the highest selling types of carbide tools, according to the report.
The global Carbide Tools market is projected to reach US$ 10,726.3 Mn by the end of the forecast period while growing at a value CAGR of 7.0%. Moreover, according to Future Market Insight’s volume analysis, the global Carbide Tools Market is estimated to have reached 187,652.6 thousand units by 2018 end and is anticipated to reach 365,280.9 thousand units by 2028 while exhibiting a CAGR of 6.9% during the forecast period.
The global Carbide Tools market is projected to reach US$ 10,726.3 Mn by the end of the forecast period while growing at a value CAGR of 7.0%. Moreover, according to Future Market Insight’s volume analysis, the global Carbide Tools Market is estimated to have reached 187,652.6 thousand units by 2018 end and is anticipated to reach 365,280.9 thousand units by 2028 while exhibiting a CAGR of 6.9% during the forecast period.
The report on the Carbide Tools market covers comprehensive information about market trends, volume (Thousand Units) and value (US$ Mn) projections, recent developments, dynamics (drivers, restraints, trends & opportunities) and competition landscape pertaining to the global Carbide Tools market for the study period 2018 to 2028.
Robust Technological Innovations and Growing Automation in Machine Cutting Tools Paving Way for Growth of Global Carbide Tools Market.
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Carbide Tools Market – Cutting Tools, and Drilling and Milling Tools Hold Prominent Shares
Among end user segments, metal fabrication and automotive & transportation are significant contributors to the global Carbide Tools market. In metal fabrication, Carbide Tools are frequently used for job shop applications, such as hole making, surface finishing, among others.
Within the automotive sector, drills, reamers, countersinks and mills tools are used for general applications, such as making of co-centric holes, providing surface finishing and for other purposes. For all types of Carbide Tools, manufacturers are focused on creating coolant circulations inside Carbide Tools to improve the operational efficiency of tools.
Competitive Landscape
The global Carbide Tools market is fragmented. Organized players account for more than 50% share in the global Carbide Tools market even though there are numerous small players in the global market which are creating a competitive environment for well-established players.
In the global Carbide Tools market, FMI has covered prominent players including KYOCERA Corporation, Sandvik AB, YG-1 Co., Ltd., Makita Corporation, CERATIZIT S.A., Mitsubishi Materials Corporation, Guhring Limited, Allied Machine & Engineering Corp., IMC Group, OSG Corporation, Kennametal Inc., Elementos de Mecanismos, S.A. de C.V. (Elmec), Fullerton Tool Company, Sumitomo Electric Hartmetall GmbH, Xinrui Industry Co., Ltd., Sorma S.p.A., Fratelli Vergnano Srl, TDC Cutting Tools Inc., TSUNE SEIKI CO.,LTD. and Cutoutil Hardware Tools Co.,Ltd.
Carbide Tools Market Are Most Lucrative Countries – India and China
By region, the Carbide Tools market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia & Pacific, Middle East & Africa, Japan, China and India. India and China are expected to grow at a significant CAGR in the global Carbide Tools market owing to the robust growth being witnessed in end-use industries as well as growing awareness about automation within the metal fabrication industry.
In terms of value share, Western Europe is projected to dominate throughout the forecast period and is projected to create absolute $ opportunity worth US$ 1,724.3 Mn between 2018 and 2028. Furthermore, growth in sales of electric vehicles and hybrid vehicles is also projected to fillip the demand for Carbide Tools across the globe.
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By Segmentation:
By Product Type, the Carbide Tools market is segmented into
Circular Saw Blades, CNC Inserts, Router Bits, Cutters, Mills, Tap & Dies, Reamers.
By end user, the Carbide Tools market is segmented into
metal fabrication, automotive & transportation, automotive, railway, aerospace, marine, heavy machinery, construction, furniture & carpentry, oil & gas, fabrication, manufacturing purposes, other manufacturing,