High Speed Steel (HSS) Metal Cutting Tools: Global Strategic Business Report

Global High Speed Steel (HSS) Metal Cutting Tools Market to Reach $16.8 Billion by 2030

The global market for High Speed Steel (HSS) Metal Cutting Tools estimated at US$11.3 Billion in the year 2022, is projected to reach a revised size of US$16.8 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2022-2030. HSS Tapping Tools, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$6.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the HSS Milling Tools segment is readjusted to a revised 4.6% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 8.6% CAGR

The High Speed Steel (HSS) Metal Cutting Tools market in the U.S. is estimated at US$3.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 8.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.3 Billion by the year 2030.

Select Competitors (Total 82 Featured) -

• Addison & Co. Ltd.
• Aloris Tool Technology Co. Inc.
• BIG Kaiser Precision Tooling Inc.
• DeWALT
• Greenfield Industries Inc.
• Guhring Inc.
• Kennametal Inc.
• LMT Group
• LMT Onsrud LP
• LMT Tools USA L.P.
• Morse Cutting Tools
• Nachi America Inc.
• Nachi-Fujikoshi Corp.
• Niagara Cutter LLC
• OSG Corporation
• OSG Korea Corporation
• OSG USA Inc.
• Raymond Limited
• Shanghai Machine Tool Works Ltd.
• Somta Tools (Pty) Ltd.
• Sutton Tools
• Tiangong International Co. Ltd.
• Tivoly SA
• Walter AG
• YG-1 Tool Co. Ltd.

What's New?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
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