Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Tool Bits Market by Type (Steels, Carbides, Ceramics), By Application (Polishing, Drilling, Cutting, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Tool Bits Market by Type (Steels, Carbides, Ceramics), By Application (Polishing, Drilling, Cutting, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 155246 3300 Machinery & Equipment 377 245 Pages 5 (32)

Market Overview:

The global tool 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 tool bits in various applications, such as polishing, drilling, cutting, and others. In terms of type, the steels segment is expected to lead the global tool bits market during the forecast period. This can be attributed to their high wear resistance and toughness properties.

Global Tool Bits Industry Outlook

Product Definition:

Tool Bits are small, sharp pieces of metal that are attached to a tool such as a drill in order to cut or shape material. Tool Bits can be made from various materials, including steel and titanium, and come in a variety of shapes depending on the specific application. They are important because they allow tools to perform specific functions, such as cutting or shaping material.


Steels are alloy materials that have carbon and other elements as their main component. The most common types of steel include carbon steel, low-alloy steels, high-alloy steels (HAE), and stainless steels. Steels are used in a variety of applications including construction, automotive & transportation equipment manufacturing industries. Growth factors such as increasing demand from end use industries or application areas is expected to drive the market over the forecast period.


Carbides are hard, brittle, and crystalline solid materials that are composed of carbon and other elements.

   Ceramics (alumina, silica-based), metal (copper-based), polymers (polyacrylonitrile).

Application Insights:

The global tool bits market has been segmented into five major applications, namely drilling, cutting, polishing, drilling and grinding and other operations. The cutting application segment dominated the overall industry in terms of revenue share in 2017. This is attributed to the rising demand for steel from construction industry across the globe. Drilling is expected to be one of the fastest-growing segments over the forecast period owing to increasing oil & gas exploration activities worldwide.

The polishing application segment is also projected to witness significant growth over next six years due largely on growing demand for precision tools from various industries such as automotive & transportation.

Regional Analysis:

Asia Pacific is anticipated to be the fastest-growing region over the forecast period owing to rapid industrialization and increasing demand for high-quality steel tools from various applications. The regional market is also driven by a rise in manufacturing activities across several industries, such as automotive, aerospace & defense, electronics & electrical equipment, construction industry.

The Middle East and Africa are expected to witness significant growth over the next eight years due to rising investments in infrastructure development projects by foreign companies along with government support. These factors are projected to boost demand for drilling machines and related accessories that consume large amounts of tool bits; thereby driving the global market during the forecast period.

North America accounted for more than 20% of revenue share in 2017 on account of growing emphasis on security at home coupled with increased military spending overseas by U.S.

Growth Factors:

  • Increasing demand for tool bits in the automotive and aerospace industries due to the growth of these sectors.
  • Growing demand for customized tool bits in order to meet specific requirements of end-users.
  • Rising adoption of advanced manufacturing technologies, which is resulting in increased demand for high-precision tool bits.
  • Proliferation of online shopping platforms, which is aiding the growth of the global Tool Bits market by providing a wider reach to consumers worldwide.

Scope Of The Report

Report Attributes

Report Details

Report Title

Tool Bits Market Research Report

By Type

Steels, Carbides, Ceramics

By Application

Polishing, Drilling, Cutting, Others

By Companies

Topeak, SC Manufacturing Texas LLC, CS Unitec, Inc, Miranda Tools, Sherline, JAWCO Tools, Alok Tools, Bosch, Dress Tools, DWT PIPE TOOLS, NAP GLADU

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Tool Bits Market Report Segments:

The global Tool Bits market is segmented on the basis of:


Steels, Carbides, Ceramics

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.


Polishing, Drilling, Cutting, 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:

  1. Topeak
  2. SC Manufacturing Texas LLC
  3. CS Unitec, Inc
  4. Miranda Tools
  5. Sherline
  6. JAWCO Tools
  7. Alok Tools
  8. Bosch
  9. Dress Tools

Global Tool Bits Market Overview

Highlights of The Tool Bits Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Steels
    2. Carbides
    3. Ceramics
  1. By Application:

    1. Polishing
    2. Drilling
    3. Cutting
    4. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Tool 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
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  • Product & Brand Management
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Global Tool Bits Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Tool bits are small, specialized pieces of equipment used in the construction and repair trades. They can include a variety of tools such as saws, hammers, chisels and screwdrivers.

Some of the major companies in the tool bits market are Topeak, SC Manufacturing Texas LLC, CS Unitec, Inc, Miranda Tools, Sherline, JAWCO Tools, Alok Tools, Bosch, Dress Tools, DWT PIPE TOOLS, NAP GLADU.

The tool 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. Tool 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. Tool Bits Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Tool Bits Market - Supply Chain
   4.5. Global Tool Bits Market Forecast
      4.5.1. Tool Bits Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Tool Bits Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Tool Bits Market Absolute $ Opportunity

5. Global Tool 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. Tool Bits Market Size and Volume Forecast by Type
      5.3.1. Steels
      5.3.2. Carbides
      5.3.3. Ceramics
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Tool 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. Tool Bits Market Size and Volume Forecast by Application
      6.3.1. Polishing
      6.3.2. Drilling
      6.3.3. Cutting
      6.3.4. Others
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Tool 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. Tool 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 Tool 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. Tool 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 Tool Bits Demand Share Forecast, 2019-2026

9. North America Tool 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 Tool 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 Tool Bits Market Size and Volume Forecast by Application
      9.4.1. Polishing
      9.4.2. Drilling
      9.4.3. Cutting
      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 Tool Bits Market Size and Volume Forecast by Type
      9.7.1. Steels
      9.7.2. Carbides
      9.7.3. Ceramics
   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 Tool Bits Demand Share Forecast, 2019-2026

10. Latin America Tool 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 Tool 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 Tool Bits Market Size and Volume Forecast by Application
      10.4.1. Polishing
      10.4.2. Drilling
      10.4.3. Cutting
      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 Tool Bits Market Size and Volume Forecast by Type
      10.7.1. Steels
      10.7.2. Carbides
      10.7.3. Ceramics
   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 Tool Bits Demand Share Forecast, 2019-2026

11. Europe Tool 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 Tool 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 Tool Bits Market Size and Volume Forecast by Application
      11.4.1. Polishing
      11.4.2. Drilling
      11.4.3. Cutting
      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 Tool Bits Market Size and Volume Forecast by Type
      11.7.1. Steels
      11.7.2. Carbides
      11.7.3. Ceramics
   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 Counry
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Tool Bits Demand Share, 2019-2026

12. Asia Pacific Tool 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 Tool 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 Tool Bits Market Size and Volume Forecast by Application
      12.4.1. Polishing
      12.4.2. Drilling
      12.4.3. Cutting
      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 Tool Bits Market Size and Volume Forecast by Type
      12.7.1. Steels
      12.7.2. Carbides
      12.7.3. Ceramics
   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 Tool Bits Demand Share, 2019-2026

13. Middle East & Africa Tool 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 Tool 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 Tool Bits Market Size and Volume Forecast by Application
      13.4.1. Polishing
      13.4.2. Drilling
      13.4.3. Cutting
      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 Tool Bits Market Size and Volume Forecast by Type
      13.7.1. Steels
      13.7.2. Carbides
      13.7.3. Ceramics
   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 Tool Bits Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Tool Bits Market: Market Share Analysis
   14.2. Tool Bits Distributors and Customers
   14.3. Tool Bits Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Topeak Overview Financials Developments Strategic Outlook
      14.4.2. SC Manufacturing Texas LLC Overview Financials Developments Strategic Outlook
      14.4.3. CS Unitec, Inc Overview Financials Developments Strategic Outlook
      14.4.4. Miranda Tools Overview Financials Developments Strategic Outlook
      14.4.5. Sherline Overview Financials Developments Strategic Outlook
      14.4.6. JAWCO Tools Overview Financials Developments Strategic Outlook
      14.4.7. Alok Tools Overview Financials Developments Strategic Outlook
      14.4.8. Bosch Overview Financials Developments Strategic Outlook
      14.4.9. Dress Tools Overview Financials Developments Strategic Outlook
      14.4.10. DWT PIPE TOOLS Overview Financials Developments Strategic Outlook
      14.4.11. NAP GLADU Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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