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High Speed Steel Cutting Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global high speed steel cutting tools market grew at a CAGR of around 5% during 2015-2020. High speed steel (HSS) cutting tools refer to various mechanical equipment used for milling, tapping, drilling, cutting, shaping, grinding, boring and casting steel products. Some of the commonly used HSS cutting tools include drill bits, solid boring bars, chasers, counterbores, countersinks, extractors, knurls, saw blades, taps and end mills. In comparison to their traditional counterparts, HSS cutting tools use particle metallurgy, have improved design, operate at a high cutting speed, can function under extreme temperatures and are resistant to corrosion and wear and tear. As a result, they find extensive applications across various industries, such as oil & gas, automotive, marine, aerospace, defense and energy and power.

Significant growth in the manufacturing industry across the globe represents one of the key factors creating a positive impact on the market. HSS cutting tools are crucial for uniformity in the quality of products during mass production and high-temperature operations. Furthermore, the widespread adoption of these tools in the automotive industry is providing a thrust to the market growth. Due to their high precision, durability, and repeatability, they are used for milling, grinding and broaching various automobile components. Additionally, various product innovations, such as the development of novel coating technologies for the tools and the manufacturing of bits with adjustable composition, are also contributing to the market growth. The market players are also integrating cutting tools with the internet-of-things (IoT), and offering tools with minimal vibrations, increased precision and higher speeds. Other factors, including the increasing investments in the metalworking industries and the advent of industry 4.0, are anticipated to drive the market further. Looking forward, IMARC Group expects the global high speed steel cutting tools market to exhibit moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global high speed steel cutting tools market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, technology and end use industry.

Breakup by Type:

  • Milling
  • Drilling
  • Tapping
  • Reaming and Counterboring
  • Broaching
  • Others
     

Breakup by Technology:

  • Conventional
  • CNC (Computerized Numerical Control)
     

Breakup by End Use Industry:

  • Automotive
  • Aerospace and Defense
  • Oil and Gas
  • Energy and Power
  • Marine
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Addison & Co. Ltd. (Amalgamations Group), Big Kaiser Precision Tooling Inc. (Heinz Kaiser AG), Black & Decker Corporation (Stanley Black & Decker Inc.), Erasteel Inc. (Eramet-SLN), Kennametal Inc., Nachi America Inc. (Nachi-Fujikoshi Corp.), Niagara Cutter LLC (Seco Tools AB), OSG Korea Corporation, Sandvik AB and Sumitomo Electric Industries.

Key Questions Answered in This Report:

  • How has the global high speed steel cutting tools market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global high speed steel cutting tools market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the end use industry?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global high speed steel cutting tools market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global High Speed Steel Cutting Tools Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Milling 
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Drilling 
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Tapping 
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Reaming and Counterboring 
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Broaching
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Others
        6.6.1 Market Trends
        6.6.2 Market Forecast
7    Market Breakup by Technology
    7.1    Conventional
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    CNC (Computerized Numerical Control)
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by End Use Industry
    8.1    Automotive
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Aerospace and Defense
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Oil and Gas
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Energy and Power
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Marine
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Others
        8.6.1 Market Trends
        8.6.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Addison & Co. Ltd. (Amalgamations Group)
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    Big Kaiser Precision Tooling Inc. (Heinz Kaiser AG)
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    Black & Decker Corporation (Stanley Black & Decker Inc.)
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
        14.3.4    Erasteel Inc. (Eramet-SLN)
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials
        14.3.5    Kennametal Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials 
           14.3.5.4 SWOT Analysis 
        14.3.6    Nachi America Inc. (Nachi-Fujikoshi Corp.)
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
        14.3.7    Niagara Cutter LLC (Seco Tools AB)
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    OSG Korea Corporation
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
        14.3.9    Sandvik AB
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials 
           14.3.9.4 SWOT Analysis 
        14.3.10    Sumitomo Electric Industries
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials 
           14.3.10.4 SWOT Analysis

List of Figures

Figure 1: Global: High Speed Steel Cutting Tools Market: Major Drivers and Challenges
Figure 2: Global: High Speed Steel Cutting Tools Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: High Speed Steel Cutting Tools Market: Breakup by Type (in %), 2020
Figure 4: Global: High Speed Steel Cutting Tools Market: Breakup by Technology (in %), 2020
Figure 5: Global: High Speed Steel Cutting Tools Market: Breakup by End Use Industry (in %), 2020
Figure 6: Global: High Speed Steel Cutting Tools Market: Breakup by Region (in %), 2020
Figure 7: Global: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: High Speed Steel Cutting Tools (Milling Tools) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: High Speed Steel Cutting Tools (Milling Tools) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: High Speed Steel Cutting Tools (Drilling Tools) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: High Speed Steel Cutting Tools (Drilling Tools) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: High Speed Steel Cutting Tools (Tapping Tools) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: High Speed Steel Cutting Tools (Tapping Tools) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: High Speed Steel Cutting Tools (Reaming and Counterboring Tools) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: High Speed Steel Cutting Tools (Reaming and Counterboring Tools) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: High Speed Steel Cutting Tools (Broaching Tools) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: High Speed Steel Cutting Tools (Broaching Tools) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: High Speed Steel Cutting Tools (Other Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: High Speed Steel Cutting Tools (Other Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: High Speed Steel Cutting Tools (Conventional Cutting Technology) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: High Speed Steel Cutting Tools (Conventional Cutting Technology) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: High Speed Steel Cutting Tools (CNC Cutting Technology) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: High Speed Steel Cutting Tools (CNC Cutting Technology) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: High Speed Steel Cutting Tools (Automotive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: High Speed Steel Cutting Tools (Automotive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: High Speed Steel Cutting Tools (Aerospace and Defense) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: High Speed Steel Cutting Tools (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: High Speed Steel Cutting Tools (Oil and Gas) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: High Speed Steel Cutting Tools (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: High Speed Steel Cutting Tools (Energy and Power) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: High Speed Steel Cutting Tools (Energy and Power) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: High Speed Steel Cutting Tools (Marine) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: High Speed Steel Cutting Tools (Marine) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: High Speed Steel Cutting Tools (Other End Use Industries) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: High Speed Steel Cutting Tools (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: North America: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: North America: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: United States: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: United States: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Canada: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Canada: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Asia Pacific: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Asia Pacific: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: China: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: China: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Japan: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Japan: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: India: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: India: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: South Korea: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: South Korea: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Australia: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Australia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Indonesia: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Indonesia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Europe: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Europe: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Germany: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: Germany: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: France: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: France: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: United Kingdom: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: United Kingdom: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Italy: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Italy: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Spain: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Spain: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Russia: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Russia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Latin America: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Latin America: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Brazil: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Brazil: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Mexico: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: Mexico: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 81: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 82: Middle East and Africa: High Speed Steel Cutting Tools Market: Sales Value (in Million US$), 2015 & 2020
Figure 83: Middle East and Africa: High Speed Steel Cutting Tools Market: Breakup by Country (in %), 2020
Figure 84: Middle East and Africa: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Global: High Speed Steel Cutting Tools Industry: SWOT Analysis
Figure 86: Global: High Speed Steel Cutting Tools Industry: Value Chain Analysis
Figure 87: Global: High Speed Steel Cutting Tools Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: High Speed Steel Cutting Tools Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 4: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by End Use Industry (in Million US$), 2021-2026
Table 5: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: High Speed Steel Cutting Tools Market: Competitive Structure
Table 7: Global: High Speed Steel Cutting Tools Market: Key Players

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