Market Overview:
The global HSS cutting tools 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 HSS cutting tools from various end-use industries, such as automobile, machinery, energy, rail transport & aircraft, medical and others. In terms of type, the milling tools segment is expected to hold the largest share of the global HSS cutting tools market during the forecast period. This can be attributed to its growing demand from various end-use industries across different regions.
Product Definition:
HSS (High Speed Steel) Cutting Tools are those tools which are made up of high speed steel. These tools have good resistance to wear and tear. HSS Cutting Tools are used in various applications such as cutting, shaping, slotting etc.
HSS Milling Tools:
High Speed Steel (HSS) milling tools are used to create and modify surfaces in high speed steel products. The surface of the high-speed steel can be modified by grinding, cutting or drilling. HSS mills can cut up to 12000 FPM and they have a life of 10,000 cycles; these mills are used for metal removal in various industries such as automotive, aerospace & defense and construction equipment sectors among others.
HSS Drilling Tools:
High Speed Steel (HSS) drilling tools are used in high speed steel cutting tools market. HSS is a type of metal that is harder and stronger than M4 or M16 alloy but softer than titanium-based metals such as coltan. It can be easily sharpened, has good wear resistance, and can drill at very high speeds. These properties make it suitable for making cutting tools for materials such as cast iron, mild steel, aluminum alloys and other hard materials.
Application Insights:
The application segment is sub-divided into automobile, machinery, energy, rail transport and aircraft and other applications. In 2017, the automobile application segment accounted for the largest share in terms of revenue as well as volume. The growth can be attributed to increasing demand for high-performance steel from automotive industry across the globe.
The railway transport and aircraft are anticipated to be fastest growing segments owing to rising demand for advanced technology cutting tools in these sectors over the forecast period. Energy sector is also expected to witness significant growth over next eight years due largely to increased global production of oil & gas which requires a high number of HSS cutters with superior performance characteristics required on a daily basis by major players operating in this sector on an industrial scale across various regions globally including Middle East Africa and Asia Pacific region.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, and Japan. These countries are among the largest automotive markets in the world as well as prominent manufacturing hubs for a large number of OEMs across various industries. Furthermore, these nations offer tremendous potential for energy infrastructure development through numerous unexplored reserves of natural gas that are ready to be utilized by tapping tools such as milling cutters or drilling machines.
The Asia Pacific region also happens to be one of the most lucrative destinations for offshore oil exploration activities owing to massive deposits found off coastlines from Indonesia all throughout Southeast Asian countries such as Philippines and Vietnam up until Thailand with more than 90% probability zone at coordinates 5°N-120°E with an average depth between 500 meters.
Growth Factors:
- Increasing demand for high-speed steel cutting tools in the automotive and aerospace industries due to the growing need for lightweight and durable components.
- Rising demand from the construction sector for efficient and durable cutting tools that can handle a variety of materials.
- Growing popularity of HSS Cutting Tools among small businesses and DIY enthusiasts owing to their low cost and easy-to-use nature.
- Increasing research & development investments by tool manufacturers to develop new products that can cater to specific needs of different industries.
Scope Of The Report
Report Attributes
Report Details
Report Title
HSS Cutting Tools Market Research Report
By Type
HSS Milling Tools, HSS Drilling Tools, HSS Tapping Tools, HSS Gear Cutting Tools, Others
By Application
Automobile, Machinery, Energy, Rail Transport & Aircraft, Medical, Others
By Companies
Sandvik, OSG, MMC, Kennametal, TDC Cutting Tools, Shanghai Tool Works, NACHI-FUJIKOSHI, YG-1, Tiangong International Company, Chinachengliang, HMCT Group, HYGZT
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
154
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global HSS Cutting Tools Market Report Segments:
The global HSS Cutting Tools market is segmented on the basis of:
Types
HSS Milling Tools, HSS Drilling Tools, HSS Tapping Tools, HSS Gear Cutting Tools, Others
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
Automobile, Machinery, Energy, Rail Transport & Aircraft, Medical, 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:
- Sandvik
- OSG
- MMC
- Kennametal
- TDC Cutting Tools
- Shanghai Tool Works
- NACHI-FUJIKOSHI
- YG-1
- Tiangong International Company
- Chinachengliang
- HMCT Group
- HYGZT
Highlights of The HSS Cutting 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:
- HSS Milling Tools
- HSS Drilling Tools
- HSS Tapping Tools
- HSS Gear Cutting Tools
- Others
- By Application:
- Automobile
- Machinery
- Energy
- Rail Transport & Aircraft
- Medical
- 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 HSS Cutting 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- 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?
HSS (high speed steel) cutting tools are specifically designed to cut through metal quickly and easily. They are often used in industrial settings, such as manufacturing and construction, where precision is essential.
Some of the major companies in the hss cutting tools market are Sandvik, OSG, MMC, Kennametal, TDC Cutting Tools, Shanghai Tool Works, NACHI-FUJIKOSHI, YG-1, Tiangong International Company, Chinachengliang, HMCT Group, HYGZT.
The hss cutting tools market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 HSS Cutting Tools Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 HSS Cutting Tools Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 HSS Cutting Tools Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the HSS Cutting Tools Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global HSS Cutting Tools Market Size & Forecast, 2020-2028
4.5.1 HSS Cutting Tools Market Size and Y-o-Y Growth
4.5.2 HSS Cutting Tools Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 HSS Milling Tools
5.2.2 HSS Drilling Tools
5.2.3 HSS Tapping Tools
5.2.4 HSS Gear Cutting Tools
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automobile
6.2.2 Machinery
6.2.3 Energy
6.2.4 Rail Transport & Aircraft
6.2.5 Medical
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global HSS Cutting Tools Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 HSS Cutting Tools Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 HSS Milling Tools
9.6.2 HSS Drilling Tools
9.6.3 HSS Tapping Tools
9.6.4 HSS Gear Cutting Tools
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automobile
9.10.2 Machinery
9.10.3 Energy
9.10.4 Rail Transport & Aircraft
9.10.5 Medical
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 HSS Milling Tools
10.6.2 HSS Drilling Tools
10.6.3 HSS Tapping Tools
10.6.4 HSS Gear Cutting Tools
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automobile
10.10.2 Machinery
10.10.3 Energy
10.10.4 Rail Transport & Aircraft
10.10.5 Medical
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 HSS Milling Tools
11.6.2 HSS Drilling Tools
11.6.3 HSS Tapping Tools
11.6.4 HSS Gear Cutting Tools
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automobile
11.10.2 Machinery
11.10.3 Energy
11.10.4 Rail Transport & Aircraft
11.10.5 Medical
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 HSS Milling Tools
12.6.2 HSS Drilling Tools
12.6.3 HSS Tapping Tools
12.6.4 HSS Gear Cutting Tools
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automobile
12.10.2 Machinery
12.10.3 Energy
12.10.4 Rail Transport & Aircraft
12.10.5 Medical
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 HSS Milling Tools
13.6.2 HSS Drilling Tools
13.6.3 HSS Tapping Tools
13.6.4 HSS Gear Cutting Tools
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automobile
13.10.2 Machinery
13.10.3 Energy
13.10.4 Rail Transport & Aircraft
13.10.5 Medical
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 HSS Cutting Tools Market: Competitive Dashboard
14.2 Global HSS Cutting Tools Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sandvik
14.3.2 OSG
14.3.3 MMC
14.3.4 Kennametal
14.3.5 TDC Cutting Tools
14.3.6 Shanghai Tool Works
14.3.7 NACHI-FUJIKOSHI
14.3.8 YG-1
14.3.9 Tiangong International Company
14.3.10 Chinachengliang
14.3.11 HMCT Group
14.3.12 HYGZT
