Market Overview:
The global external turning tools market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for automotive and construction applications across the globe. In terms of type, the parting off segment is expected to hold a major share of the global external turning tools market during the forecast period. This can be attributed to its growing demand in automotive and construction applications. Regionally, North America is expected to lead the global external turning tools market during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
External turning tools are those used to turn the outside diameter of a workpiece. They are typically made of tool steel and have cutting edges that face the workpiece. External turning is commonly used to create cylindrical shapes or to produce straight, smooth surfaces on a workpiece.
Parting Off:
Parting off is the process of extracting metal from a workpiece by using high speed air or water. This process is used in various industries such as automotive, aerospace and defense, construction equipment industry etc. The growth factor for Parting off tools market depends on factors such as growing demand from end-use industries and advancement in technology among others.
Grooving:
Grooving is a machining process of creating a channel or series of channels in the work piece by using high speed and high pressure. It is mainly used to form channels in wood, plastic, fiberglass composite materials and composites made from metals such as aluminum & steel. Grooves are also formed in metal parts during the manufacturing process known as die casting or drawing out.
Application Insights:
The automotive segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing production of passenger cars and light commercial vehicles across the globe, especially in emerging economies such as China, India and Brazil. In addition, technological advancements such as 3D printing are anticipated to augment product demand in this application segment over the coming years.
The construction sector is expected to register a significant growth rate owing to rapid urbanization along with industrial development & infrastructure spending in developing countries including China, India and Brazil. Moreover, favorable government policies related to housing & real estate along with rising disposable income levels will boost industry expansion over the forecast period.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region’s growth can be attributed to increasing foreign investments in developing infrastructure and manufacturing facilities in countries such as China, India, Japan, and South Korea. In addition, rising demand for consumer electronics including smartphones and laptops is expected to drive product demand over the next eight years.
The construction industry has witnessed significant growth across Asia Pacific owing to rapid urbanization coupled with growing population in emerging economies of China and India. This trend is projected to continue driving infrastructure development activities which will augment market growth further on account of increased use of turning tools for drilling holes through various materials such as steel plate/plateau (AISI), concrete block (MMCM), brick masonry units (CMU) etc.
Growth Factors:
- Increasing demand for automobiles due to rising population and income levels in developing countries is expected to drive the growth of external turning tools market.
- Growing demand for lightweight and fuel-efficient vehicles is also anticipated to boost the market growth.
- Rising trend of miniaturization in automotive industry is projected to propel the use of external turning tools over the forecast period.
- Increasing penetration of electric vehicles across different geographies is expected to create new opportunities for external turning tools market during the forecast period.
- Technological advancements such as introduction of advanced materials and coatings are likely to provide impetus to the growth of this market during the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
External Turning Tools Market Research Report
By Type
Parting Off, Grooving, Threading, End Milling, Drilling
By Application
Automotive, Construction
By Companies
Sandvik, Mitsubishi Materials, WhizCut, Ingersoll Cutting Tool, KOMET, KYOCERA, Kennametal, Winstar Cutting, Widia, IZAR CUTTING TOOLS, Arno, Sumitomo Electric, Swiss Tool Systems, ISCAR, Seco Tools, Shan Gin Cutting Tools, Palbit, Ceratizit
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
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global External Turning Tools Market Report Segments:
The global External Turning Tools market is segmented on the basis of:
Types
Parting Off, Grooving, Threading, End Milling, Drilling
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
Automotive, Construction
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:
- Sandvik
- Mitsubishi Materials
- WhizCut
- Ingersoll Cutting Tool
- KOMET
- KYOCERA
- Kennametal
- Winstar Cutting
- Widia
- IZAR CUTTING TOOLS
- Arno
- Sumitomo Electric
- Swiss Tool Systems
- ISCAR
- Seco Tools
- Shan Gin Cutting Tools
- Palbit
- Ceratizit
Highlights of The External Turning Tools 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:
- Parting Off
- Grooving
- Threading
- End Milling
- Drilling
- By Application:
- Automotive
- Construction
- 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 External Turning Tools 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.
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- Correctly Positioning New Products
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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?
External turning tools are a type of power tool that use an external motor to turn the blade. They are often used in construction, demolition, and agriculture.
Some of the major players in the external turning tools market are Sandvik, Mitsubishi Materials, WhizCut, Ingersoll Cutting Tool, KOMET, KYOCERA, Kennametal, Winstar Cutting, Widia, IZAR CUTTING TOOLS, Arno, Sumitomo Electric, Swiss Tool Systems, ISCAR, Seco Tools, Shan Gin Cutting Tools, Palbit, Ceratizit.
The external turning tools market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. External Turning Tools 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. External Turning Tools Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. External Turning Tools Market - Supply Chain
4.5. Global External Turning Tools Market Forecast
4.5.1. External Turning Tools Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. External Turning Tools Market Size (000 Units) and Y-o-Y Growth
4.5.3. External Turning Tools Market Absolute $ Opportunity
5. Global External Turning Tools 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. External Turning Tools Market Size and Volume Forecast by Type
5.3.1. Parting Off
5.3.2. Grooving
5.3.3. Threading
5.3.4. End Milling
5.3.5. Drilling
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global External Turning Tools 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. External Turning Tools Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Construction
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global External Turning Tools 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. External Turning Tools 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 External Turning Tools 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. External Turning Tools 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 External Turning Tools Demand Share Forecast, 2019-2029
9. North America External Turning Tools 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 External Turning Tools 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 External Turning Tools Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Construction
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America External Turning Tools Market Size and Volume Forecast by Type
9.7.1. Parting Off
9.7.2. Grooving
9.7.3. Threading
9.7.4. End Milling
9.7.5. Drilling
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 External Turning Tools Demand Share Forecast, 2019-2029
10. Latin America External Turning Tools 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 External Turning Tools 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 External Turning Tools Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Construction
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America External Turning Tools Market Size and Volume Forecast by Type
10.7.1. Parting Off
10.7.2. Grooving
10.7.3. Threading
10.7.4. End Milling
10.7.5. Drilling
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 External Turning Tools Demand Share Forecast, 2019-2029
11. Europe External Turning Tools 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 External Turning Tools 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 External Turning Tools Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Construction
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe External Turning Tools Market Size and Volume Forecast by Type
11.7.1. Parting Off
11.7.2. Grooving
11.7.3. Threading
11.7.4. End Milling
11.7.5. Drilling
11.8. Basis Point Share (BPS) Analysis by Type
11.. 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 External Turning Tools Demand Share, 2019-2029
12. Asia Pacific External Turning Tools 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 External Turning Tools 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 External Turning Tools Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Construction
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific External Turning Tools Market Size and Volume Forecast by Type
12.7.1. Parting Off
12.7.2. Grooving
12.7.3. Threading
12.7.4. End Milling
12.7.5. Drilling
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 External Turning Tools Demand Share, 2019-2029
13. Middle East & Africa External Turning Tools 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 External Turning Tools 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 External Turning Tools Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Construction
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa External Turning Tools Market Size and Volume Forecast by Type
13.7.1. Parting Off
13.7.2. Grooving
13.7.3. Threading
13.7.4. End Milling
13.7.5. Drilling
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 External Turning Tools Demand Share, 2019-2029
14. Competition Landscape
14.1. Global External Turning Tools Market: Market Share Analysis
14.2. External Turning Tools Distributors and Customers
14.3. External Turning Tools Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Sandvik
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Mitsubishi Materials
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. WhizCut
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Ingersoll Cutting Tool
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. KOMET
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. KYOCERA
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kennametal
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Winstar Cutting
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Widia
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. IZAR CUTTING TOOLS
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Arno
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Sumitomo Electric
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Swiss Tool Systems
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. ISCAR
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Seco Tools
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Shan Gin Cutting Tools
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Palbit
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Ceratizit
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
