The new report by EMR titled, ‘Global Metal Cutting Tools Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global metal cutting tools market, assessing the market based on its segments like product, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

• Forecast CAGR (2021-2026): 4%

The recent growth in metal cutting tools industry is attributed to the exponential growth in the automotive industry. The key driver guiding the growth of metal cutting tools industry in the forecast period includes technological advancements in the automotive and manufacturing industry, such as additive manufacturing. Additive manufacturing is the process of creating 3D objects with using a digital file. In addition, with the advent of 3D printing in the aerospace and automotive industries, it is possible to produce intricate geometries that are either laborious or impossible with traditional manufacturing techniques.

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Industry Definition and Major Segments

Metal cutting tools are a kind of machine tools that ensure effective manufacturing of critical and complex components with ease and utmost precision. Metal cutting tools are powered by electric motors and are used for one among many cutting processes, such as turning, milling, grinding, and boring, to finish the specified cut on the metal work piece.

On the basis of product, the industry is divided into:

• Machining Centre
• Lathe Machine
• Boring Machine
• Grinding Machine
• Milling Machine
• Drilling Machine
• Others

On the basis of application, the industry is segmented into:

• Automotive
• Industrial Machinery Manufacturing
• Energy and Power
• Marine, Aerospace and Defense
• Others

The regional markets for the product include:

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa

Market Trends

The market trend guiding the growth of metal cutting tools industry includes many new technological innovations in the industry, such as metal cutting tool holders that reduce the impact of vibrations on the cutting process, electrochemical machining process as a replacement for traditional metal cutting tools, and a tooling process for automated metal turning operations. Increasing adoption of Industry 4.0 is driving the market for metal cutting tools. In addition, another driving factor is the number of countries increasing their defense budgets, which is expected to aid the growth of metal cutting tools industry in the near future.

Key Market Players

The major players in the market are Amada Co., Ltd., Fanuc UK ltd, Nachi-Fujikoshi Corp., Sandvik AB, Ceratizit Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

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