The North America Indexable Insert Market size is expected to reach US$ 3.55 billion by 2031 from US$ 2.25 billion in 2023. The market is estimated to record a CAGR of 5.9% from 2023-2031.
By insert shape, the indexable insert market is segmented into round, square, triangle, rhombic, and others. The rhombic held the largest share of the market in 2023.
By application, the indexable insert market is segmented into milling, drilling, turning, threading, and others. The milling held the largest share of the market in 2023.
By size, the indexable insert market is segmented into upto 10 mm, 10-20 mm, and above 20 mm. The upto 10 mm held the largest share of the market in 2023.
By insert material, the indexable insert market is segmented into carbide, ceramic & composites, PCD inserts, and others. The carbide held the largest share of the market in 2023.
By industry, the indexable insert market is segmented into aerospace and defense, general industry, oil and gas, power generation, automotive, electrics and electronics, medical, and others. The automotive feed held the largest share of the market in 2023.
Indexable cutting tools provide an efficient and cost-effective way to create complex shapes while maintaining accuracy and repeatability. These tools have become increasingly popular in recent decades due to their ability to quickly produce intricate shapes with minimal material waste. Their indexable cutting parts also make them extremely versatile and durable, making them an overall efficient choice for many machining tasks. By using indexable inserts, manufacturers can ensure projects are completed in less time while maximizing quality and efficiency. Hence, the increasing use of indexable inserts in metalworking and machining applications drives the market growth.
As per the National Institute of Standards and Technology, the manufacturing sector contributed nearly US$ 2.3 billion and accounted for more than 11.4% of the total US GDP in 2023. The country recorded the second-largest manufacturing and industrial production levels in the world after China. Rising the industrial output at a consistent pace requires a continuous inflow of investments in infrastructure development, adoption of new manufacturing tools and techniques, and expansion of production spaces. Thus, the magnification of the manufacturing sector creates a demand for indexable inserts and other cutting tools in machining and metal processing operations. The US economy depends on a broad infrastructure network to maintain its position in the global economy. The aging infrastructure in the oil and gas, energy, heavy machinery, automotive, and aviation sectors, among others, in the US signifies the need for capacity expansion and upgrades. Thus, the rising investments in infrastructure upgrades in the abovementioned industries are expected to result in the need for advanced components or machines in milling, drilling, grooving, and other operations, which in turn is expected to drive the indexable inserts market growth during the forecast period. Indexable inserts are employed to cut and shape materials, including wood, metals, and plastic, in various industries, such as automotive, energy, semiconductor and electronics, and aviation.
Company websites, annual reports, financial statements, broker analyses, and investor presentations. Industry trade journals and other relevant publications. Government documents, statistical databases, and market reports. News articles, press releases, and webcasts specific to companies operating in the market. Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Validate and refine findings from secondary research. Enhance the expertise and market understanding of the analysis team. Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects. Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
Executive Summary and North America Indexable Insert Market Analysis:
North America consists of the US, Canada, and Mexico. The well-established infrastructure in developed countries, including the US and Canada, helps manufacturing firms explore the limits of science, technology, and commerce. Across North America, technological advancements have led to high competition in the manufacturing industry. As per the National Institute of Standards and Technology (NIST), the manufacturing sector in the US was valued at US$ 2.3 trillion and registered an 11.4% share of the total GDP in 2022. In manufacturing machinery and equipment, the US is the second largest country in the world. Also, the country is a leading fabricated metal product manufacturer across the world. All these factors drive the demand for cutting tools in North America, thereby propelling the indexable inserts market growth in the coming years. The aerospace and defense industry in North America is reporting tremendous growth owing to the stable economy, developed infrastructure, high technology adoption rate, and increasing investments by governments. According to data released by Airlines for America in 2023, commercial aviation accounted for US$ 1.37 trillion (~5% of US GDP) in 2023. More than 26,000 flights from the US to nearly 80 countries carry 2.6 million passengers every day. In addition, the country handles more than 61,000 tons of cargo sent to and received from nearly 220 countries. Moreover, the increasing number of aircraft in the US military and commercial sectors is anticipated to fuel the demand for metalworking machinery and cutting tools such as indexable inserts in various operations such as milling, drilling, and grooving in the coming years. Further, the rising trend of prototyping with on-demand metal cutting machines in the aerospace industry offers effective ways to rapidly manufacture aerospace sheet metal parts without complicated manufacturing setups. Thus, the growing trend of rapid prototyping may generate a huge demand for metal-cutting machines, which is expected to bolster the indexable inserts market growth in North America in the near future.North America Indexable Insert Market Segmentation Analysis:
Key segments that contributed to the derivation of the Indexable Insert Market analysis are insert shape, application, size, insert material, and industry.By insert shape, the indexable insert market is segmented into round, square, triangle, rhombic, and others. The rhombic held the largest share of the market in 2023.
By application, the indexable insert market is segmented into milling, drilling, turning, threading, and others. The milling held the largest share of the market in 2023.
By size, the indexable insert market is segmented into upto 10 mm, 10-20 mm, and above 20 mm. The upto 10 mm held the largest share of the market in 2023.
By insert material, the indexable insert market is segmented into carbide, ceramic & composites, PCD inserts, and others. The carbide held the largest share of the market in 2023.
By industry, the indexable insert market is segmented into aerospace and defense, general industry, oil and gas, power generation, automotive, electrics and electronics, medical, and others. The automotive feed held the largest share of the market in 2023.
North America Indexable Insert Market Outlook
An indexable insert is a type of machine tool used to create precise shapes and profiles in metals. The heads are interchangeable so that one can choose the right size of indexable insert for the job. Indexable cutting tools are commonly used in machining operations such as drilling, reaming, and facing. Indexable inserts are attached to the cutting tools with a clamp or other holding system. In some cases, the inserts can also be treated with different coatings, such as titanium nitride, to increase their wear resistance and longevity.Indexable cutting tools provide an efficient and cost-effective way to create complex shapes while maintaining accuracy and repeatability. These tools have become increasingly popular in recent decades due to their ability to quickly produce intricate shapes with minimal material waste. Their indexable cutting parts also make them extremely versatile and durable, making them an overall efficient choice for many machining tasks. By using indexable inserts, manufacturers can ensure projects are completed in less time while maximizing quality and efficiency. Hence, the increasing use of indexable inserts in metalworking and machining applications drives the market growth.
North America Indexable Insert Market Country Insights
Based on country, the North America indexable insert market comprises the US, Canada, and Mexico. The US held the largest share in 2023.As per the National Institute of Standards and Technology, the manufacturing sector contributed nearly US$ 2.3 billion and accounted for more than 11.4% of the total US GDP in 2023. The country recorded the second-largest manufacturing and industrial production levels in the world after China. Rising the industrial output at a consistent pace requires a continuous inflow of investments in infrastructure development, adoption of new manufacturing tools and techniques, and expansion of production spaces. Thus, the magnification of the manufacturing sector creates a demand for indexable inserts and other cutting tools in machining and metal processing operations. The US economy depends on a broad infrastructure network to maintain its position in the global economy. The aging infrastructure in the oil and gas, energy, heavy machinery, automotive, and aviation sectors, among others, in the US signifies the need for capacity expansion and upgrades. Thus, the rising investments in infrastructure upgrades in the abovementioned industries are expected to result in the need for advanced components or machines in milling, drilling, grooving, and other operations, which in turn is expected to drive the indexable inserts market growth during the forecast period. Indexable inserts are employed to cut and shape materials, including wood, metals, and plastic, in various industries, such as automotive, energy, semiconductor and electronics, and aviation.
North America Indexable Insert Market Company Profiles
Some of the key players operating in the market include Sandvik AB; Kennametal Inc; ISCAR LTD; Hartmetall-Werkzeugfabrik Paul Horn GmbH; Kyocera Corporation; Ingersoll Rand Inc; Zhuzhou Cemented Carbide Cutting Tools Co., Ltd; Mitsubishi Materials Corporation; Gühring KG; YG-1 Co., Ltd; CERATIZIT S.A; and Boehlerit GmbH & Co.KG among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.North America Indexable Insert Market Research Methodology:
The following methodology has been followed for the collection and analysis of data presented in this report.Secondary Research
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:Company websites, annual reports, financial statements, broker analyses, and investor presentations. Industry trade journals and other relevant publications. Government documents, statistical databases, and market reports. News articles, press releases, and webcasts specific to companies operating in the market. Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Primary Research
The publisher conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:Validate and refine findings from secondary research. Enhance the expertise and market understanding of the analysis team. Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects. Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America Indexable Insert Market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America Indexable Insert Market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America Indexable Insert Market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. North America Indexable Inserts Market Landscape
5. North America Indexable Inserts Market - Key Market Dynamics
6. Indexable Inserts Market - North America Market Analysis
7. North America Indexable Inserts Market Analysis - by Insert Shape
8. North America Indexable Inserts Market Analysis - by Application
9. North America Indexable Inserts Market Analysis - by Size
10. North America Indexable Inserts Market Analysis - by Insert Material
11. North America Indexable Inserts Market Analysis - by Industry
12. North America Indexable Inserts Market - Country Analysis
13. Competitive Landscape
14. Industry Landscape
15. Company Profiles
16. Appendix
List of Tables
List of Figures
Companies Mentioned
- Sandvik AB
- Kennametal Inc
- ISCAR Ltd
- Hartmetall-Werkzeugfabrik Paul Horn GmbH
- Kyocera Corporation
- Ingersoll Rand Inc
- Zhuzhou Cemented Carbide Cutting Tools Co., Ltd
- Mitsubishi Materials Corporation
- Guhring KG
- YG-1 Co., Ltd
- CERATIZIT S.A
- Boehlerit GmbH & Co.KG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 192 |
| Published | July 2025 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 2.25 Billion |
| Forecasted Market Value ( USD | $ 3.55 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | North America |
| No. of Companies Mentioned | 12 |
