In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global High Speed Steel (HSS) Metal Cutting Tools market for 2018-2023.
In the context of machining, a cutting tool is any tool that is used to remove material from the workpiece by means of shear deformation. High-speed steel is the most common cutting tool material used today. High-speed steel cutting tools is much tough than ordinary cutting tools and easier for cutting. It retains its hardness at moderate temperatures. In machinery manufacturing, the majority use of HSS cutting tools is in machine tools.
The Major regions to produce High Speed Steel (HSS) Metal Cutting Tools are China, Europe and Japan, which accounting for more than 77 % of value production in total. The major consumption region is east China, Europe, and United States.
Along with the development of Chinese domestic Industrial technology, Chinese High Speed Steel (HSS) Metal Cutting Tools has been made a lot of progress, but it also has a long way to be advanced in the world, especially in high-end products. Otherwise, most of Chinese companies are rather small, compared to other countries' companies in value production.
Over the next five years, LPI(LP Information) projects that High Speed Steel (HSS) Metal Cutting Tools will register a 4.5% CAGR in terms of revenue, reach US$ 9280 million by 2023, from US$ 7130 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of High Speed Steel (HSS) Metal Cutting Tools market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
HSS Milling Tools
HSS Drilling Tools
HSS Tapping Tools
HSS Reaming and Counterboring Tools
HSS Gear Cutting Tools
HSS Broaching Tools
Segmentation by application:
Oil and Gas Industry
Shipping Building Industry
Rail Transport Industry
This report also splits the market by region:
Middle East and Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Shanghai Tool Works
Sumitomo Electric Industries
TDC Cutting Tools
Harbin No.1 Tool Manufacturing
Harbin Measuring and Cutting Tool
Henan Yigong Zuanye
LMT Onsrud LP
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global High Speed Steel (HSS) Metal Cutting Tools consumption (value and volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of High Speed Steel (HSS) Metal Cutting Tools market by identifying its various subsegments.
Focuses on the key global High Speed Steel (HSS) Metal Cutting Tools manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the High Speed Steel (HSS) Metal Cutting Tools with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of High Speed Steel (HSS) Metal Cutting Tools submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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