Market Overview:
The global cobalt drill bits market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for cobalt drill bits from various applications, such as supermarkets, specialty stores, online shops, and others. Additionally, the growing demand for cobalt drill bits in regions such as North America, Latin America, Europe Asia Pacific and Middle East & Africa is also contributing to the growth of this market.
Product Definition:
Cobalt drill bits are high-speed steel drill bits that have been coated with cobalt to increase their hardness and resistance to wear. Cobalt drill bits are often used in applications where a high degree of accuracy and durability is required, such as drilling through hard materials like stainless steel or titanium.
Twist Drill Bits:
Twist drill bits are used in cobalt drill bits market for drilling purposes. They are designed with a spiral or helical shape that allows them to cut better and efficiently than round bit counterparts. The design of the bit is crucial as it determines the type of hole that is drilled, i.e., whether the hole will be circular or straight-sided, among others.
Countersink Drill Bits:
Countersink drill bits are used in cobalt drill bits to reduce the torque applied to the bit by a significant margin. The primary function of countersink drill bit is to allow drilling at an angle without causing any stress on the material being drilled. In other words, it reduces or eliminates “backlash” which is caused due to excessive turning force on the spindle during drilling operations.
Application Insights:
The others application segment includes hardware stores, home centers and supermarkets. The use of cobalt drill bits in the supermarket or specialty store application is expected to witness growth at a CAGR of XX% from 2018 to 2030 owing to the growing demand for these products by DIY enthusiasts and electricians as well as construction workers.
The product demand in electrical applications is anticipated to witness significant growth over the forecast period due to its properties such as high hardness, high corrosion resistance, low magnetic susceptibility and excellent drilling performance under various conditions without getting heated up or smoking out while cutting metal materials including steel, aluminum alloys & stainless steel. These factors are expected to increase product penetration in electrical applications which will drive overall market growth over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of cobalt drill bit manufacturers, which have been providing high-quality products at low prices. This has resulted in increased demand for the product from countries such as China, India, Japan, and South Korea.
China is one of the largest consumers of cobalt due to its growing economy and increasing population coupled with rising disposable income. Rapid urbanization along with industrial growth in these countries will also drive regional growth over the next eight years. North America accounted for a significant share owing to strong demand from U.S., where there are more than 1 million shops that sells home improvement products such as taps & faucets, lightings & switches etc.
Growth Factors:
- Increasing demand for cobalt drill bits in the automotive and aerospace industries due to their superior performance over other materials.
- Growing popularity of cobalt drill bits among DIY enthusiasts and home improvement enthusiasts due to their high durability and longer life span as compared to other materials.
- Rising demand for cobalt drill bits from small-scale businesses that require precision drilling for various applications such as jewelry making, metalworking, etc.
- Increasing use of cobalt drill bits in medical devices and implants due to their biocompatibility properties.
Scope Of The Report
Report Attributes
Report Details
Report Title
Cobalt Drill Bits Market Research Report
By Type
Twist Drill Bits, Countersink Drill Bits, Counterbore Drill Bits, Cobalt Step Drill Bits
By Application
Supermarket, Specialty Store, Online Shop, Others
By Companies
Drill America, DEWALT, Craftsman, Bosch, KENNEDY, Migiwata, Efficere, Chicago Latrobe, Neiko
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Cobalt Drill Bits Market Report Segments:
The global Cobalt Drill Bits market is segmented on the basis of:
Types
Twist Drill Bits, Countersink Drill Bits, Counterbore Drill Bits, Cobalt Step Drill Bits
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Supermarket, Specialty Store, Online Shop, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Drill America
- DEWALT
- Craftsman
- Bosch
- KENNEDY
- Migiwata
- Efficere
- Chicago Latrobe
- Neiko
Highlights of The Cobalt Drill Bits Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Twist Drill Bits
- Countersink Drill Bits
- Counterbore Drill Bits
- Cobalt Step Drill Bits
- By Application:
- Supermarket
- Specialty Store
- Online Shop
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cobalt Drill Bits Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cobalt drill bits are used in drilling and milling applications. They are made of cobalt-nickel alloys and have a harder, more durable surface than other types of drill bits. Cobalt drill bits resist corrosion and wear better than other materials, which makes them ideal for use in harsh environments.
Some of the major companies in the cobalt drill bits market are Drill America, DEWALT, Craftsman, Bosch, KENNEDY, Migiwata, Efficere, Chicago Latrobe, Neiko.
The cobalt drill bits market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cobalt Drill Bits Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cobalt Drill Bits Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cobalt Drill Bits Market - Supply Chain
4.5. Global Cobalt Drill Bits Market Forecast
4.5.1. Cobalt Drill Bits Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cobalt Drill Bits Market Size (000 Units) and Y-o-Y Growth
4.5.3. Cobalt Drill Bits Market Absolute $ Opportunity
5. Global Cobalt Drill Bits Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Cobalt Drill Bits Market Size and Volume Forecast by Type
5.3.1. Twist Drill Bits
5.3.2. Countersink Drill Bits
5.3.3. Counterbore Drill Bits
5.3.4. Cobalt Step Drill Bits
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Cobalt Drill Bits Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Cobalt Drill Bits Market Size and Volume Forecast by Application
6.3.1. Supermarket
6.3.2. Specialty Store
6.3.3. Online Shop
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Cobalt Drill Bits Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Cobalt Drill Bits Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Cobalt Drill Bits Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Cobalt Drill Bits Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Cobalt Drill Bits Demand Share Forecast, 2019-2026
9. North America Cobalt Drill Bits Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Cobalt Drill Bits Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Cobalt Drill Bits Market Size and Volume Forecast by Application
9.4.1. Supermarket
9.4.2. Specialty Store
9.4.3. Online Shop
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Cobalt Drill Bits Market Size and Volume Forecast by Type
9.7.1. Twist Drill Bits
9.7.2. Countersink Drill Bits
9.7.3. Counterbore Drill Bits
9.7.4. Cobalt Step Drill Bits
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Cobalt Drill Bits Demand Share Forecast, 2019-2026
10. Latin America Cobalt Drill Bits Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Cobalt Drill Bits Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Cobalt Drill Bits Market Size and Volume Forecast by Application
10.4.1. Supermarket
10.4.2. Specialty Store
10.4.3. Online Shop
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Cobalt Drill Bits Market Size and Volume Forecast by Type
10.7.1. Twist Drill Bits
10.7.2. Countersink Drill Bits
10.7.3. Counterbore Drill Bits
10.7.4. Cobalt Step Drill Bits
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Cobalt Drill Bits Demand Share Forecast, 2019-2026
11. Europe Cobalt Drill Bits Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Cobalt Drill Bits Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Cobalt Drill Bits Market Size and Volume Forecast by Application
11.4.1. Supermarket
11.4.2. Specialty Store
11.4.3. Online Shop
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Cobalt Drill Bits Market Size and Volume Forecast by Type
11.7.1. Twist Drill Bits
11.7.2. Countersink Drill Bits
11.7.3. Counterbore Drill Bits
11.7.4. Cobalt Step Drill Bits
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Cobalt Drill Bits Demand Share, 2019-2026
12. Asia Pacific Cobalt Drill Bits Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Cobalt Drill Bits Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Cobalt Drill Bits Market Size and Volume Forecast by Application
12.4.1. Supermarket
12.4.2. Specialty Store
12.4.3. Online Shop
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Cobalt Drill Bits Market Size and Volume Forecast by Type
12.7.1. Twist Drill Bits
12.7.2. Countersink Drill Bits
12.7.3. Counterbore Drill Bits
12.7.4. Cobalt Step Drill Bits
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Cobalt Drill Bits Demand Share, 2019-2026
13. Middle East & Africa Cobalt Drill Bits Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Cobalt Drill Bits Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Cobalt Drill Bits Market Size and Volume Forecast by Application
13.4.1. Supermarket
13.4.2. Specialty Store
13.4.3. Online Shop
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Cobalt Drill Bits Market Size and Volume Forecast by Type
13.7.1. Twist Drill Bits
13.7.2. Countersink Drill Bits
13.7.3. Counterbore Drill Bits
13.7.4. Cobalt Step Drill Bits
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Cobalt Drill Bits Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Cobalt Drill Bits Market: Market Share Analysis
14.2. Cobalt Drill Bits Distributors and Customers
14.3. Cobalt Drill Bits Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Drill America
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. DEWALT
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Craftsman
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Bosch
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. KENNEDY
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Migiwata
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Efficere
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Chicago Latrobe
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Neiko
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook