High Speed Steel Trends and Forecast
The future of the global high speed steel market looks promising with opportunities in the automotive, manufacturing, aerospace, mechanical engineering, and construction markets. The global high speed steel market is expected to reach an estimated $3.1 billion by 2030 with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are increasing demand for this steel in manufacturing and construction industries and rise in infrastructure development projects worldwide.High Speed Steel by Segment
The study includes a forecast for the global high speed steel by type, production method, grade, end use, and region.High Speed Steel Market by Type [Shipment Analysis by Value from 2018 to 2030]:
- Tungsten High Speed Steel
- Molybdenum High Speed Steel
- Cobalt High Speed Steel
- Others
High Speed Steel Market by Production Method [Shipment Analysis by Value from 2018 to 2030]:
- Conventional High Speed Steel
- Powder Metallurgy (PM) High Speed Steel
- Spray Forming (SF) High Speed Steel
High Speed Steel Market by Grade [Shipment Analysis by Value from 2018 to 2030]:
- M Grade
- T Grade
- Advance Grade
High Speed Steel Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
- Automotive
- Manufacturing
- Aerospace
- Mechanical Engineering
- Construction
- Others
High Speed Steel Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of High Speed Steel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies high speed steel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the high speed steel companies profiled in this report include:- ArcelorMittal
- Amada
- Sandvik
- NIPPON KOSHUHA STEEL
- RUKO
- Kyocera
- Walter
- Kennametal
- Proterial
- OSG
High Speed Steel Market Insights
The report forecasts that molybdenum is expected to witness the highest growth over the forecast period due to its excellent wear resistance, high-temperature strength and hardness.Within this market, automotive is expected to witness the highest growth due to rising demand for high speed steel from this industry for production of automotive components.
North America is expected to witness highest growth over the forecast period due to substantial economic growth, increased government investments in high-speed steel, and presence of key players in the region.
Features of the Global High Speed Steel Market
- Market Size Estimates: High speed steel market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: High speed steel market size by various segments, such as by type, production method, grade, end use, and region in terms of value ($B).
- Regional Analysis: High speed steel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different types, production methods, grades, end uses, and regions for the high speed steel market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the high speed steel market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the high speed steel market size?Answer: The global high speed steel market is expected to reach an estimated $3.1 billion by 2030.
Q2. What is the growth forecast for high speed steel market?
Answer: The global high speed steel market is expected to grow with a CAGR of 6.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the high speed steel market?
Answer: The major drivers for this market are increasing demand for this steel in manufacturing and construction industries and rise in infrastructure development projects worldwide.
Q4. What are the major segments for high speed steel market?
Answer: The future of the high speed steel market looks promising with opportunities in the automotive, manufacturing, aerospace, mechanical engineering, and construction markets.
Q5. Who are the key high speed steel market companies?
Answer: Some of the key high speed steel companies are as follows:
- ArcelorMittal
- Amada
- Sandvik
- NIPPON KOSHUHA STEEL
- RUKO
- Kyocera
- Walter
- Kennametal
- Proterial
- OSG
Answer: The report forecasts that molybdenum is expected to witness the highest growth over the forecast period due to its excellent wear resistance, high-temperature strength and hardness.
Q7. In high speed steel market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to substantial economic growth, increased government investments in high-speed steel, and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisherl provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the high speed steel market by type (tungsten high speed steel, molybdenum high speed steel, cobalt high speed steel, and others), production method (conventional high speed steel, powder metallurgy (PM) high speed steel, and spray forming (SF) high speed steel), grade (M grade, T grade, and advance grade), end use (automotive, manufacturing, aerospace, mechanical engineering, construction, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global High Speed Steel Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ArcelorMittal
- Amada
- Sandvik
- NIPPON KOSHUHA STEEL
- RUKO
- Kyocera
- Walter
- Kennametal
- Proterial
- OSG
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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