Cutting Tool Market – By Tool Category, By Tool Coating, By Tool Design, By Product Type, By Cutting Tool Material, By Workpiece Material, By Machine Type, By Sales Channel, By End User, By Geography – India Opportunity Analysis & Industry Forecast, 2024-2030

Report Code: AIR 0121 Report Format: PDF + Excel

Cutting Tool Market Overview:

Cutting Tool Market size is estimated to reach $46,239 million by 2030, growing at a CAGR of 3.4% during the forecast period 2024-2030. The cutting tool market is experiencing significant growth, driven by increasing demand from automotive, aerospace, and industrial sectors. The market is expanding due to advancements in materials, such as carbide, ceramics, and super-hard tools, which offer superior precision and durability. A key trend is the adoption of Industry 4.0 and smart manufacturing, leading to increased use of CNC machines and automated processes, boosting demand for high-performance cutting tools. Additionally, the shift towards electric vehicles and lightweight materials in aerospace is fostering innovation in tool design and coatings. Sustainability is becoming a focal point, with manufacturers emphasizing energy-efficient production methods and recycling initiatives. Moreover, the rise of additive manufacturing is influencing tool development, requiring specialized cutting solutions. Regional markets in Asia-Pacific, particularly China and India, are witnessing rapid growth due to expanding manufacturing bases. Major players are focusing on R&D, mergers, and acquisitions to enhance their portfolios and global reach. Overall, the cutting tool market is poised for steady growth, underpinned by technological advancements and evolving industry needs.

Cutting Tool Market - Report Coverage:

The “Cutting Tool Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Cutting Tool Market.

 

Attribute Segment

By Tool Category
  • Solid Cutting Tools
  • Indexable Tools
    • Inserts Only
    • Tool Holder
    • Cutter Assembly (Insert & Holder)
    • Others

By Tool Coating
  • Uncoated
  •  Coated
    •  PVD Coated
    • CVD Coated

By Tool Design
  • Single Point Cutting Tool
  •  Multi-Point Cutting Tool

By Product Type
  • Drilling & Boring
    • Solid Standard Drilling
    • Solid Deep Drilling
    • Indexable Insert Drilling
    • Reamers
    • Countersinking
    •  Counterboring
    • Spindle Drilling/Boring Tools
    • Combination Drilling
    • Modular Drilling
    • Threading
    • Others
  •  Milling
    • End/Face Milling
    •  Slit/Slot Milling
    • Plunge Milling
    •  Contour Milling
    • Profiling & Gear Cutting
    • Threading
    •  Micromachining
    •  Helical Milling
    • Others
  • Turning
    • Standard Turning
    • Parting/Grooving
    •  Profiling
    •  Micromachining
    • Threading
    • Others
  • Sawing & Cutting
    • Circular SAW Cutting
    • Hack SAW
    • Band SAW
    • Die Cutting
    •  Others
  • Finishing
    • Grinding
    • Honing
    •  Lapping
  •  Others

By Cutting Tool Material
  • Tungsten Carbides
  •  Carbon Steel
  •  High Speed Steel (HSS)
  • Ceramic
  • Cermets
  • Cubic Boron Nitride (cBN)/Polycrystalline Cubic Boron Nitride (PCBN)
  • Diamond
  • Others

By Workpiece Material
  • Metal
    • Steel (Group P)
    • Stainless Steel (Group M)
    •   Cast Iron (Group K)
    • Non-Ferrous (Group N)
    • Super Alloys (Group S)
    •  Hardened Steel (Group H)
  • Wood
  • Others

By Machine Type
  • Hand Power Tools
  • Benchtop/Desktop Machine Tools
  • Standalone Machine Tools
    • Manual Machine Tools
    • CNC Machine Tools
    •  Machining Centers

By Sales Channel
  • Direct
  •  Indirect

By End User
  • Aerospace
  •  Defense & Military
  • Automotive
  •  Chemical
  •  Food & Beverage
  •   Agriculture
  • Oil & Gas
  • Mining
  •  Paper & Pulp
  •  Textile
  • Telecommunication
  • Construction & Infrastructure
  • Electronics
  • Power Generation
  • Utilities
  • White Goods & Consumer Products
  •  Consumer Electronics
  •  Medical
  •  Marine
  • Railways
  • Industrial Machinery & Capital Goods
  •  Off-Highway Machinery
  •  Wood Working
  •  Metal
  • Die & Mold
  •  Others

By Geography
  • North America
  • South America
  • Europe
  • APAC
  • Middle East & Africa

COVID-19 / Ukraine Crisis - Impact Analysis:  

  • The COVID-19 pandemic disrupted the cutting tool market, causing supply chain challenges, reduced manufacturing output, and declining demand from key industries like automotive and aerospace. However, the market gradually recovered as manufacturing activities resumed, driven by increased investments in automation, Industry 4.0 technologies, and the rising need for precision tools to meet evolving production requirements.
  • The Ukraine crisis has impacted the cutting tool market by exacerbating supply chain disruptions, increasing raw material costs, and creating market uncertainty. European manufacturers, in particular, faced challenges due to energy price hikes and export restrictions. However, the crisis has also accelerated regional diversification and localization efforts in the industry, driving demand for innovative and resilient tooling solutions.

Key Takeaways:

  • Solid Cutting Tools is Leading the Market

Solid Cutting Tools accounted for the largest share in 2023 and is estimated to reach $24,244 million by 2030. This segment's growth is driven by its widespread application across various industries, including automotive, aerospace, and manufacturing. Solid cutting tools, such as drills, end mills, and reamers, are highly valued for their precision, durability, and versatility. These tools are typically made from high-performance materials like carbide, ceramics, and high-speed steel, offering superior cutting efficiency and longer tool life compared to other categories. The increasing adoption of automation and CNC machining in manufacturing has further fueled demand for solid cutting tools. Their ability to deliver consistent, high-quality results in complex machining operations makes them indispensable in high-volume production environments. Moreover, the growing emphasis on reducing machining time and improving productivity has led to the development of advanced solid cutting tools with enhanced geometries and coatings. As industries continue to prioritize efficiency and precision, the solid cutting tools segment is expected to maintain its leadership position, driven by ongoing innovations and expanding applications in emerging markets.

  •  Milling to Register Highest Growth

Milling segment is analyzed to grow with the highest CAGR 4.2% in the Cutting Tool Market during the forecast period 2024-2030. This growth is driven by its critical role in precision manufacturing across various industries such as automotive, aerospace, and heavy machinery. Milling tools, including end mills, face mills, and profiling tools, are essential for shaping and finishing materials, offering high accuracy, versatility, and efficiency in machining operations. The demand for complex components with tight tolerances has fueled the adoption of advanced milling technologies, enabling manufacturers to achieve superior surface finishes and intricate geometries. Innovations in milling tool materials, such as carbide and coated tools, have enhanced cutting performance, tool life, and thermal resistance, further boosting their market growth. Additionally, the rise of smart manufacturing and Industry 4.0 has led to increased integration of CNC machines and automated milling processes, driving demand for high-performance milling tools capable of handling complex tasks with minimal downtime.

  • Demand from the Automotive Sector is Driving the Market Growth.

The automotive industry relies heavily on precision machining for components such as engine parts, transmissions, chassis, and interior components. Cutting tools are essential for operations like turning, milling, drilling, and grinding to achieve tight tolerances and high-quality finishes. With the advent of new materials like high-strength steels, aluminum alloys, and composites in automotive manufacturing, there's a growing need for cutting tools that can handle these materials efficiently without compromising on precision or tool life. The global automotive market's expansion, driven by rising consumer demand, technological advancements, and the shift towards electric vehicles (EVs), contributes significantly to the growth of the cutting tools market. For instance, in 2023, global car manufacturing surged to nearly 76 million units, marking a significant 10.2% increase from the previous year. This growth was fueled by robust production trends observed across various regions worldwide, reflecting a strong upward trajectory in the automotive industry's output and global market demand. Increased production across regions underscores heightened manufacturing activity in the automotive sector, driving up the need for efficient cutting tools to meet escalating production demands and maintain quality standards. Advances in cutting tool technology, such as coatings that enhance wear resistance and cutting-edge geometries optimized for specific materials, help meet the automotive industry's stringent performance requirements. For instance, in June 2023, Nidec Machine Tool Corporation launched a new cutting tool factory in India on June 26, 2023. This initiative aims to boost production capacity by 1.5 times to cater to increased demand for automotive and related components. The factory will specialize in hob cutters, pinion cutters, and other cutting tools, facilitating quicker supply to customers across India. This strategic expansion underscores Nidec's commitment to meeting automobiles enhancing its responsiveness to growing industry demands. As the automotive industry continues to evolve, such investments in cutting-edge manufacturing capabilities highlight the pivotal role of advanced cutting tools in ensuring robust production and delivery timelines within this dynamic market segment.

  • Fluctuating Raw Material Prices is a Major Challenge

Fluctuating raw material prices are significantly hampering the growth of the cutting tool market. Key materials like tungsten, cobalt, and carbide, essential for manufacturing cutting tools, are subject to volatile pricing due to supply chain disruptions, geopolitical tensions, and changing market dynamics. This volatility creates uncertainty for manufacturers, leading to higher production costs and squeezed profit margins. Additionally, the reliance on limited sources for these critical materials, especially from regions with unstable political climates, exacerbates the issue. The impact of fluctuating raw material prices is twofold. First, manufacturers face challenges in maintaining consistent pricing for their products, which can affect competitiveness and market share. Second, the increased costs are often passed on to end-users, potentially reducing demand for cutting tools, particularly in price-sensitive markets. To mitigate these effects, companies are exploring alternative materials, recycling initiatives, and supply chain diversification. However, these strategies require time and investment, limiting immediate relief. In the short term, fluctuating raw material prices will continue to pose a significant challenge, hindering the cutting tool market's growth and profitability.

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Key Market Players: 

Product launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Cutting Tool Market. The top 10 companies in this industry are listed below:

  1. Sandvik Coromant 
  2.  IMC Companies
  3. Mitsubishi Materials
  4.  Sumitomo Electric
  5. CERATIZIT Group
  6. KYOCERA Corporation
  7.  Kennametal Inc. 
  8.  OSG Corporation
  9. Gühring KG 
  10.  Hartmetall-Werkzeugfabrik Paul Horn GmbH

Scope of the Report: 

 

Report Metric Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

3.4%

Market Size in 2030

$46,239 million

Segments Covered

By Tool Category, By Tool Coating, By Tool Design, By Product Type, By Cutting Tool Material, By Workpiece Material, By Machine Type, By Sales Channel, By End User and Region

Geographies Covered

North America, South America, Europe, APAC, Middle East & Africa

Key Market Players
  1. Sandvik Coromant
  2. IMC Companies
  3. Mitsubishi Materials
  4. Sumitomo Electric
  5. CERATIZIT Group
  6. KYOCERA Corporation
  7. Kennametal Inc.
  8. OSG Corporation
  9. Gühring KG
  10. Hartmetall-Werkzeugfabrik Paul Horn GmbH

 

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  1.    Cutting Tool Market - Overview
      1.1.    Definitions and Scope
  2.    Cutting Tool Market - Executive summary
      2.1.    Market Revenue, Market Size and Key Trends by Company
      2.2.    Key Trends by End User
      2.3.    Key Trends segmented by Geography
  3.    Cutting Tool Market 
      3.1.    Comparative analysis
            3.1.1.    Product Benchmarking - Top 10 companies
            3.1.2.    Top 5 Financials Analysis
            3.1.3.    Market Value split by Top 10 companies
            3.1.4.    Patent Analysis - Top 10 companies
            3.1.5.    Pricing Analysis 
  4.    Cutting Tool Market – Startup companies Scenario Premium
      4.1.    Top 10 startup company Analysis by
            4.1.1.    Investment
            4.1.2.    Revenue
            4.1.3.    Market Shares
            4.1.4.    Market Size and Application Analysis
            4.1.5.    Venture Capital and Funding Scenario
  5.    Cutting Tool Market – Industry Market Entry Scenario Premium
      5.1.    Regulatory Framework Overview
      5.2.    New Business and Ease of Doing business index
      5.3.    Case studies of successful ventures
      5.4.    Customer Analysis – Top 10 companies
  6.    Cutting Tool Market Forces
      6.1.    Drivers
      6.2.    Constraints
      6.3.    Challenges
      6.4.    Porters five force model
            6.4.1.    Bargaining power of suppliers
            6.4.2.    Bargaining powers of customers
            6.4.3.    Threat of new entrants
            6.4.4.    Rivalry among existing players
            6.4.5.    Threat of substitutes 
  7.    Cutting Tool Market -Strategic analysis
      7.1.    Value chain analysis
      7.2.    Opportunities analysis
      7.3.    Product life cycle
      7.4.    Suppliers and distributors Market Share
  8.    Cutting Tool Market – By Tool Category (Market Size -$Million / $Billion)
      8.1.    Solid Cutting Tools
      8.2.    Indexable Tools
            8.2.1    Inserts Only
            8.2.2    Tool Holder
            8.2.3    Cutter Assembly (Insert & Holder)
            8.2.4    Others
  9.    Cutting Tool Market – By Tool Coating (Market Size -$Million / $Billion)
      9.1.    Uncoated
      9.2.    Coated
            9.2.1    PVD Coated
            9.2.2    CVD Coated
  10.    Cutting Tool Market – By Tool Design (Market Size -$Million / $Billion)
      10.1.    Single Point Cutting Tool
      10.2.    Multi-Point Cutting Tool
  11.    Cutting Tool Market – By Product Type (Market Size -$Million / $Billion)
      11.1.    Drilling & Boring 
            11.1.1    Solid Standard Drilling
            11.1.2    Solid Deep Drilling
            11.1.3    Indexable Insert Drilling
            11.1.4    Reamers
            11.1.5    Countersinking
            11.1.6    Counterboring
            11.1.7    Spindle Drilling/Boring Tools
            11.1.8    Combination Drilling
            11.1.9    Modular Drilling
            11.1.10    Threading
            11.1.11    Others
      11.2.    Milling
            11.2.1    End/Face Milling
            11.2.2    Slit/Slot Milling
            11.2.3    Plunge Milling
            11.2.4    Contour Milling
            11.2.5    Profiling & Gear Cutting
            11.2.6    Threading
            11.2.7    Micromachining
            11.2.8    Helical Milling
            11.2.9    Others
      11.3.    Turning
            11.3.1    Standard Turning
            11.3.2    Parting/Grooving
            11.3.3    Profiling
            11.3.4    Micromachining
            11.3.5    Threading
            11.3.6    Others
            11.3.7    Sawing & Cutting
            11.3.8    Circular SAW Cutting
            11.3.9    Hack SAW
            11.3.10    Band SAW
            11.3.11    Die Cutting
            11.3.12    Others
      11.4.    Finishing
            11.4.1    Grinding
            11.4.2    Honing
            11.4.3    Lapping
            11.4.4    Others
      11.5.    Others
  12.    Cutting Tool Market – By Cutting Tool Material (Market Size -$Million / $Billion)
      12.1.    Tungsten Carbides
      12.2.    Carbon Steel 
      12.3.    High Speed Steel (HSS)
      12.4.    Ceramic
      12.5.    Cermets
      12.6.    Cubic Boron Nitride (cBN)/Polycrystalline Cubic Boron Nitride (PCBN)
      12.7.    Diamond
      12.8.    Others
  13.    Cutting Tool Market – By Workpiece Material (Market Size -$Million / $Billion)
      13.1.    Metal
            13.1.1    Steel (Group P)
            13.1.2    Stainless Steel (Group M)
            13.1.3    Cast Iron (Group K)
            13.1.4    Non-Ferrous (Group N)
            13.1.5    Super Alloys (Group S)
            13.1.6    Hardened Steel (Group H)
      13.2.    Wood
      13.3.    Others
  14.    Cutting Tool Market – By Machine Type (Market Size -$Million / $Billion)
      14.1.    Hand Power Tools
      14.2.    Benchtop/Desktop Machine Tools
      14.3.    Standalone Machine Tools
            14.3.1    Manual Machine Tools
            14.3.2    CNC Machine Tools
            14.3.3    Machining Centers
  15.    Cutting Tool Market – By Sales Channel (Market Size -$Million / $Billion)
      15.1.    Direct
      15.2.    Indirect
  16.    Cutting Tool Market – By End User (Market Size -$Million / $Billion)
      16.1.    Aerospace
      16.2.    Defense & Military
      16.3.    Automotive
      16.4.    Chemical
      16.5.    Food & Beverage
      16.6.    Agriculture
      16.7.    Oil & Gas
      16.8.    Mining
      16.9.    Paper & Pulp
      16.10.    Textile
      16.11.    Telecommunication
      16.12.    Construction & Infrastructure
      16.13.    Electronics
      16.14.    Power Generation
      16.15.    Utilities
      16.16.    White Goods & Consumer Products
      16.17.    Consumer Electronics
      16.18.    Medical
      16.19.    Marine
      16.20.    Railways
      16.21.    Industrial Machinery & Capital Goods
      16.22.    Off-Highway Machinery
      16.23.    Wood Working
      16.24.    Metal
      16.25.    Die & Mold
      16.26.    Others
  17.    Cutting Tool - By Geography (Market Size -$Million / $Billion)
      17.1.    North America
            17.1.1.    U.S.
            17.1.2.    Canada
            17.1.3.    Mexico
      17.2.    Europe
            17.2.1.     Germany
            17.2.2.    France
            17.2.3.    UK
            17.2.4.    Italy
            17.2.5.    Spain
            17.2.6.    Russia
            17.2.7.    Netherlands
            17.2.8.    Rest of Europe
      17.3.    APAC
            17.3.1.    China
            17.3.2.    Japan
            17.3.3.    South Korea
            17.3.4.    India
            17.3.5.    Australia and New Zealand
            17.3.6.    Malaysia
            17.3.7.    Indonesia
            17.3.8.    Rest of APAC
      17.4.    South America
            17.4.1.    Brazil
            17.4.2.    Argentina
            17.4.3.    Chile
            17.4.4.    Colombia
            17.4.5.    Rest of South America
      17.5.    Middle East & Africa
            17.5.1.    Middle East
            17.5.2.    Africa
  18.    Cutting Tool Market - Entropy
      18.1.    New product launches
      18.2.    M&A's, collaborations, JVs and partnerships
  19.    Cutting Tool Market – Industry / Segment Competition landscape Premium
      19.1.    Market Share Analysis
            19.1.1.    Market Share by Country- Top companies
            19.1.2.    Market Share by Region- Top 10 companies
            19.1.3.    Market Share by type – Top 10 companies
            19.1.4.    Market Share by type of Product / Product category- Top 10 companies
            19.1.5.    Market Share at global level- Top 10 companies
            19.1.6.    Best Practices for companies
  20.    Cutting Tool Market – Key Company List by Country Premium
  21.    Cutting Tool Market Company Analysis
      21.1.    Sandvik Coromant 
      21.2.    IMC Companies
      21.3.    Mitsubishi Materials
      21.4.    Sumitomo Electric
      21.5.    CERATIZIT Group
      21.6.    KYOCERA Corporation
      21.7.    Kennametal Inc. 
      21.8.    OSG Corporation
      21.9.    Gühring KG 
      21.10.    Hartmetall-Werkzeugfabrik Paul Horn GmbH
  "Financials to the Private Companies would be provided on best-effort basis."
   

List of Tables

Table1: Cutting Tools Market Overview 2023-2030
Table2: Cutting Tools Market Leader Analysis 2023-2030 (US$)
Table3: Cutting Tools Market Product Analysis 2023-2030 (US$)
Table4: Cutting Tools Market End User Analysis 2023-2030 (US$)
Table5: Cutting Tools Market Patent Analysis 2013-2023* (US$)
Table6: Cutting Tools Market Financial Analysis 2023-2030 (US$)
Table7: Cutting Tools Market Driver Analysis 2023-2030 (US$)
Table8: Cutting Tools Market Challenges Analysis 2023-2030 (US$)
Table9: Cutting Tools Market Constraint Analysis 2023-2030 (US$)
Table10: Cutting Tools Market Supplier Bargaining Power Analysis 2023-2030 (US$)
Table11: Cutting Tools Market Buyer Bargaining Power Analysis 2023-2030 (US$)
Table12: Cutting Tools Market Threat of Substitutes Analysis 2023-2030 (US$)
Table13: Cutting Tools Market Threat of New Entrants Analysis 2023-2030 (US$)
Table14: Cutting Tools Market Degree of Competition Analysis 2023-2030 (US$)
Table15: Cutting Tools Market Value Chain Analysis 2023-2030 (US$)
Table16: Cutting Tools Market Pricing Analysis 2023-2030 (US$)
Table17: Cutting Tools Market Opportunities Analysis 2023-2030 (US$)
Table18: Cutting Tools Market Product Life Cycle Analysis 2023-2030 (US$)
Table19: Cutting Tools Market Supplier Analysis 2023-2030 (US$)
Table20: Cutting Tools Market Distributor Analysis 2023-2030 (US$)
Table21: Cutting Tools Market Trend Analysis 2023-2030 (US$)
Table22: Cutting Tools Market Size 2023 (US$)
Table23: Cutting Tools Market Forecast Analysis 2023-2030 (US$)
Table24: Cutting Tools Market Sales Forecast Analysis 2023-2030 (Units)
Table25: Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table26: Cutting Tools Market By Type, Revenue & Volume, By Indexable, 2023-2030 ($)
Table27: Cutting Tools Market By Type, Revenue & Volume, By Solid, 2023-2030 ($)
Table28: Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table29: Cutting Tools Market By Tool Grade, Revenue & Volume, By High Speed Steel, 2023-2030 ($)
Table30: Cutting Tools Market By Tool Grade, Revenue & Volume, By Ceramics, 2023-2030 ($)
Table31: Cutting Tools Market By Tool Grade, Revenue & Volume, By Cermets, 2023-2030 ($)
Table32: Cutting Tools Market By Tool Grade, Revenue & Volume, By cBN/PcBN, 2023-2030 ($)
Table33: Cutting Tools Market By Tool Grade, Revenue & Volume, By Diamond, 2023-2030 ($)
Table34: Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table35: Cutting Tools Market By Technology, Revenue & Volume, By Organic Light Emitting Diode, 2023-2030 ($)
Table36: Cutting Tools Market By Technology, Revenue & Volume, By LCoS, 2023-2030 ($)
Table37: Cutting Tools Market By Technology, Revenue & Volume, By LCD, 2023-2030 ($)
Table38: Cutting Tools Market By Technology, Revenue & Volume, By DLP, 2023-2030 ($)
Table39: Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table40: Cutting Tools Market By Application, Revenue & Volume, By Milling, 2023-2030 ($)
Table41: Cutting Tools Market By Application, Revenue & Volume, By Turning, 2023-2030 ($)
Table42: Cutting Tools Market By Application, Revenue & Volume, By Drilling, 2023-2030 ($)
Table43: North America Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table44: North America Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table45: North America Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table46: North America Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table47: South america Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table48: South america Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table49: South america Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table50: South america Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table51: Europe Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table52: Europe Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table53: Europe Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table54: Europe Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table55: APAC Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table56: APAC Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table57: APAC Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table58: APAC Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table59: Middle East & Africa Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table60: Middle East & Africa Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table61: Middle East & Africa Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table62: Middle East & Africa Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table63: Russia Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table64: Russia Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table65: Russia Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table66: Russia Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table67: Israel Cutting Tools Market, Revenue & Volume, By Type, 2023-2030 ($)
Table68: Israel Cutting Tools Market, Revenue & Volume, By Tool Grade, 2023-2030 ($)
Table69: Israel Cutting Tools Market, Revenue & Volume, By Technology, 2023-2030 ($)
Table70: Israel Cutting Tools Market, Revenue & Volume, By Application, 2023-2030 ($)
Table71: Top Companies 2023 (US$)Cutting Tools Market, Revenue & Volume
Table72: Product Launch 2023-2030Cutting Tools Market, Revenue & Volume
Table73: Mergers & Acquistions 2023-2030Cutting Tools Market, Revenue & Volume


List of Figures

Figure 1: Overview of Cutting Tools Market 2023-2030
Figure 2: Market Share Analysis for Cutting Tools Market 2023 (US$)
Figure 3: Product Comparison in Cutting Tools Market 2023-2030 (US$)
Figure 4: End User Profile for Cutting Tools Market 2023-2030 (US$)
Figure 5: Patent Application and Grant in Cutting Tools Market 2013-2023* (US$)
Figure 6: Top 5 Companies Financial Analysis in Cutting Tools Market 2023-2030 (US$)
Figure 7: Market Entry Strategy in Cutting Tools Market 2023-2030
Figure 8: Ecosystem Analysis in Cutting Tools Market 2023
Figure 9: Average Selling Price in Cutting Tools Market 2023-2030
Figure 10: Top Opportunites in Cutting Tools Market 2023-2030
Figure 11: Market Life Cycle Analysis in Cutting Tools Market
Figure 12: GlobalBy TypeCutting Tools Market Revenue, 2023-2030 ($)
Figure 13: GlobalBy Tool GradeCutting Tools Market Revenue, 2023-2030 ($)
Figure 14: GlobalBy TechnologyCutting Tools Market Revenue, 2023-2030 ($)
Figure 15: GlobalBy ApplicationCutting Tools Market Revenue, 2023-2030 ($)
Figure 16: Global Cutting Tools Market - By Geography
Figure 17: Global Cutting Tools Market Value & Volume, By Geography, 2023-2030 ($) 
Figure 18: Global Cutting Tools Market CAGR, By Geography, 2023-2030 (%)
Figure 19: North America Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 20: US Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 21: US GDP and Population, 2023-2030 ($)
Figure 22: US GDP – Composition of 2023, By Sector of Origin
Figure 23: US Export and Import Value & Volume, 2023-2030 ($)
Figure 24: Canada Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 25: Canada GDP and Population, 2023-2030 ($)
Figure 26: Canada GDP – Composition of 2023, By Sector of Origin
Figure 27: Canada Export and Import Value & Volume, 2023-2030 ($)
Figure 28: Mexico Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 29: Mexico GDP and Population, 2023-2030 ($)
Figure 30: Mexico GDP – Composition of 2023, By Sector of Origin
Figure 31: Mexico Export and Import Value & Volume, 2023-2030 ($)
Figure 32: South America Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 33: Brazil Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 34: Brazil GDP and Population, 2023-2030 ($)
Figure 35: Brazil GDP – Composition of 2023, By Sector of Origin
Figure 36: Brazil Export and Import Value & Volume, 2023-2030 ($)
Figure 37: Venezuela Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 38: Venezuela GDP and Population, 2023-2030 ($)
Figure 39: Venezuela GDP – Composition of 2023, By Sector of Origin
Figure 40: Venezuela Export and Import Value & Volume, 2023-2030 ($)
Figure 41: Argentina Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 42: Argentina GDP and Population, 2023-2030 ($)
Figure 43: Argentina GDP – Composition of 2023, By Sector of Origin
Figure 44: Argentina Export and Import Value & Volume, 2023-2030 ($)
Figure 45: Ecuador Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 46: Ecuador GDP and Population, 2023-2030 ($)
Figure 47: Ecuador GDP – Composition of 2023, By Sector of Origin
Figure 48: Ecuador Export and Import Value & Volume, 2023-2030 ($)
Figure 49: Peru Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 50: Peru GDP and Population, 2023-2030 ($)
Figure 51: Peru GDP – Composition of 2023, By Sector of Origin
Figure 52: Peru Export and Import Value & Volume, 2023-2030 ($)
Figure 53: Colombia Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 54: Colombia GDP and Population, 2023-2030 ($)
Figure 55: Colombia GDP – Composition of 2023, By Sector of Origin
Figure 56: Colombia Export and Import Value & Volume, 2023-2030 ($)
Figure 57: Costa Rica Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 58: Costa Rica GDP and Population, 2023-2030 ($)
Figure 59: Costa Rica GDP – Composition of 2023, By Sector of Origin
Figure 60: Costa Rica Export and Import Value & Volume, 2023-2030 ($)
Figure 61: Europe Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 62: U.K Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 63: U.K GDP and Population, 2023-2030 ($)
Figure 64: U.K GDP – Composition of 2023, By Sector of Origin
Figure 65: U.K Export and Import Value & Volume, 2023-2030 ($)
Figure 66: Germany Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 67: Germany GDP and Population, 2023-2030 ($)
Figure 68: Germany GDP – Composition of 2023, By Sector of Origin
Figure 69: Germany Export and Import Value & Volume, 2023-2030 ($)
Figure 70: Italy Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 71: Italy GDP and Population, 2023-2030 ($)
Figure 72: Italy GDP – Composition of 2023, By Sector of Origin
Figure 73: Italy Export and Import Value & Volume, 2023-2030 ($)
Figure 74: France Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 75: France GDP and Population, 2023-2030 ($)
Figure 76: France GDP – Composition of 2023, By Sector of Origin
Figure 77: France Export and Import Value & Volume, 2023-2030 ($)
Figure 78: Netherlands Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 79: Netherlands GDP and Population, 2023-2030 ($)
Figure 80: Netherlands GDP – Composition of 2023, By Sector of Origin
Figure 81: Netherlands Export and Import Value & Volume, 2023-2030 ($)
Figure 82: Belgium Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 83: Belgium GDP and Population, 2023-2030 ($)
Figure 84: Belgium GDP – Composition of 2023, By Sector of Origin
Figure 85: Belgium Export and Import Value & Volume, 2023-2030 ($)
Figure 86: Spain Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 87: Spain GDP and Population, 2023-2030 ($)
Figure 88: Spain GDP – Composition of 2023, By Sector of Origin
Figure 89: Spain Export and Import Value & Volume, 2023-2030 ($)
Figure 90: Denmark Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 91: Denmark GDP and Population, 2023-2030 ($)
Figure 92: Denmark GDP – Composition of 2023, By Sector of Origin
Figure 93: Denmark Export and Import Value & Volume, 2023-2030 ($)
Figure 94: APAC Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 95: China Cutting Tools Market Value & Volume, 2023-2030
Figure 96: China GDP and Population, 2023-2030 ($)
Figure 97: China GDP – Composition of 2023, By Sector of Origin
Figure 98: China Export and Import Value & Volume, 2023-2030 ($)Cutting Tools Market China Export and Import Value & Volume, 2023-2030 ($)
Figure 99: Australia Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 100: Australia GDP and Population, 2023-2030 ($)
Figure 101: Australia GDP – Composition of 2023, By Sector of Origin
Figure 102: Australia Export and Import Value & Volume, 2023-2030 ($)
Figure 103: South Korea Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 104: South Korea GDP and Population, 2023-2030 ($)
Figure 105: South Korea GDP – Composition of 2023, By Sector of Origin
Figure 106: South Korea Export and Import Value & Volume, 2023-2030 ($)
Figure 107: India Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 108: India GDP and Population, 2023-2030 ($)
Figure 109: India GDP – Composition of 2023, By Sector of Origin
Figure 110: India Export and Import Value & Volume, 2023-2030 ($)
Figure 111: Taiwan Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 112: Taiwan GDP and Population, 2023-2030 ($)
Figure 113: Taiwan GDP – Composition of 2023, By Sector of Origin
Figure 114: Taiwan Export and Import Value & Volume, 2023-2030 ($)
Figure 115: Malaysia Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 116: Malaysia GDP and Population, 2023-2030 ($)
Figure 117: Malaysia GDP – Composition of 2023, By Sector of Origin
Figure 118: Malaysia Export and Import Value & Volume, 2023-2030 ($)
Figure 119: Hong Kong Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 120: Hong Kong GDP and Population, 2023-2030 ($)
Figure 121: Hong Kong GDP – Composition of 2023, By Sector of Origin
Figure 122: Hong Kong Export and Import Value & Volume, 2023-2030 ($)
Figure 123: Middle East & Africa Cutting Tools Market Middle East & Africa 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 124: Russia Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 125: Russia GDP and Population, 2023-2030 ($)
Figure 126: Russia GDP – Composition of 2023, By Sector of Origin
Figure 127: Russia Export and Import Value & Volume, 2023-2030 ($)
Figure 128: Israel Cutting Tools Market Value & Volume, 2023-2030 ($)
Figure 129: Israel GDP and Population, 2023-2030 ($)
Figure 130: Israel GDP – Composition of 2023, By Sector of Origin
Figure 131: Israel Export and Import Value & Volume, 2023-2030 ($)
Figure 132: Entropy Share, By Strategies, 2023-2030* (%)Cutting Tools Market
Figure 133: Developments, 2023-2030*Cutting Tools Market
Figure 134: Company 1 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 135: Company 1 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 136: Company 1 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 137: Company 2 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 138: Company 2 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 139: Company 2 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 140: Company 3 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 141: Company 3 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 142: Company 3 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 143: Company 4 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 144: Company 4 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 145: Company 4 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 146: Company 5 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 147: Company 5 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 148: Company 5 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 149: Company 6 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 150: Company 6 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 151: Company 6 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 152: Company 7 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 153: Company 7 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 154: Company 7 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 155: Company 8 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 156: Company 8 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 157: Company 8 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 158: Company 9 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 159: Company 9 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 160: Company 9 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 161: Company 10 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 162: Company 10 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 163: Company 10 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 164: Company 11 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 165: Company 11 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 166: Company 11 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 167: Company 12 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 168: Company 12 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 169: Company 12 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 170: Company 13 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 171: Company 13 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 172: Company 13 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 173: Company 14 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 174: Company 14 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 175: Company 14 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)
Figure 176: Company 15 Cutting Tools Market Net Revenue, By Years, 2023-2030* ($)
Figure 177: Company 15 Cutting Tools Market Net Revenue Share, By Business segments, 2023 (%)
Figure 178: Company 15 Cutting Tools Market Net Sales Share, By Geography, 2023 (%)

The Cutting Tool Market is projected to grow at 3.4% CAGR during the forecast period 2024-2030.

Cutting Tool Market size is estimated to surpass $46,239 million by 2030 from $36,347 million in 2023

The leading players in the Cutting Tool Market are Sandvik Coromant, IMC Companies, Mitsubishi Materials, Sumitomo Electric, CERATIZIT Group and others.

The future of the cutting tool market will be shaped by trends such as the adoption of Industry 4.0, increased automation, demand for advanced materials, sustainability initiatives, and the rise of electric vehicles. Innovations in tool coatings, precision machining, and smart manufacturing will drive the market’s evolution and growth.

The cutting tool market is driven by increasing industrial automation, advancements in manufacturing technologies, and rising demand from automotive and aerospace sectors. Opportunities lie in the growing adoption of smart manufacturing, sustainable tooling solutions, and the development of high-performance tools for precision machining and emerging materials like composites and titanium.