Edit Content

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global High Speed Steel Cutting Tools Market to reach USD XX billion by the end of 2030.

Global High Speed Steel Cutting Tools Market Size study & Forecast, by Type (Milling, Drilling, Tapping, Others), by End-user (Manufacturing and Automotive, Oil and Gas, Mining, and Quarrying, Agriculture, Fishing, and Forestry, Construction, Distributive Trade, Healthcare and Pharmaceutical, Other End Users) and Regional Analysis, 2023-2030

Product Code: OIRIME-91445289
Publish Date: 30-10-2023
Page: 200

Global High Speed Steel Cutting Tools Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. High-speed steel is a type of tool steel known for its excellent hardness, wear resistance, and ability to retain its cutting edge at high temperatures. It is widely used in various machining operations across industries such as automotive, aerospace, construction, and manufacturing. Key factors driving the High-Speed Steel Cutting Tools market include the growing demand for precision machining, increasing automation in manufacturing processes and the need for efficient and cost-effective cutting solutions. Advancements in tool design, materials and coatings further enhance the performance and longevity of these cutting tools. The major driving factors for the Global High Speed Steel Cutting Tools Market are adoption of industry 4.0 and automation and rise of e-commerce platforms and digitalization which are creating lucrative growth opportunity for the market over the forecast period 2023-2030.

According to the World Steel Association, global steel demand is projected to increase by 0.4% in 2022, reaching 1.84 billion metric tons (mt), and further grow by 2.2% in 2023, reaching 1.88 billion mt. In developed nations, steel demand is expected to experience a more modest growth of 1.1% in 2022 and 2.4% in 2023, following a significant 16.5% growth in 2021. Along with this, in India, JSW Steel has made a significant investment of Rs. 280 billion (USD 3.7 billion) to enhance its steelmaking capacity. By increasing its capacity from 24.5 million metric tons per annum (MTPA) in March 2021 to 36.5 MTPA by March 2024, JSW Steel aims to meet the growing steel demand in the country. Another major player in the Indian steel industry, Tata Steel, has announced an investment of USD 1.1 billion to expand its Kalinganagar plant. This expansion project will raise the plant’s capacity from 3 MTPA to 8 MTPA. Additionally, Tata Steel plans to expand its mining operations and recycling business, further strengthening its position in the steel market. However, the high cost of High-Speed Steel Cutting Tools stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global High Speed Steel Cutting Tools Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is a largest market for High-Speed Steel Cutting Tools, driven by industries such as aerospace, automotive, and manufacturing. The region has a strong presence of key players and technological advancements, contributing to market growth. The Asia Pacific region is witnessing fastestgrowth in the High-Speed Steel Cutting Tools market. Countries such as China, Japan, South Korea, and India are major players in the manufacturing industry, leading to increased demand for cutting tools. Rapid industrialization, infrastructure development, and automotive production are key factors driving market growth in this region.

Major market player included in this report are:
Sandvik AB
Kennametal Inc.
Nachi-Fujikoshi Corp.
OSG Corporation
Dormer Pramet
Guhring Group
Walter AG
Seco Tools AB
Mitsubishi Materials Corporation
Iscar Ltd.

Recent Developments in the Market:
Ø In January 2023, ARCH Cutting Tools Corp. made an announcement regarding its acquisition of Custom Carbide Cutter, Inc. (CCCI), a Cincinnati-based company specializing in the production of high-quality cutting tools for manufacturers and distributors. With this acquisition, CCCI will become a part of ARCH Cutting Tools, further strengthening its portfolio of high-performance custom tooling solutions.

Global High Speed Steel Cutting Tools Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, End-user, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
By End-user:
Manufacturing and Automotive
Oil and Gas
Mining, and Quarrying
Agriculture, Fishing, and Forestry
Distributive Trade
Healthcare and Pharmaceutical
Other End Users

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. High Speed Steel Cutting Tools Market, by Region, 2020-2030 (USD Billion)
1.2.2. High Speed Steel Cutting Tools Market, by Type, 2020-2030 (USD Billion)
1.2.3. High Speed Steel Cutting Tools Market, by End-user, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global High Speed Steel Cutting Tools Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global High Speed Steel Cutting Tools Market Dynamics
3.1. High Speed Steel Cutting Tools Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing demand for precision machining Increasing automation in manufacturing processes
3.1.2. Market Challenges High Cost of High-Speed Steel Cutting Tools
3.1.3. Market Opportunities Advancements in tool design Adoption of Industry 4.0 and Automation Rise of e-commerce platforms and digitalization
Chapter 4. Global High Speed Steel Cutting Tools Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global High Speed Steel Cutting Tools Market, by Type
5.1. Market Snapshot
5.2. Global High Speed Steel Cutting Tools Market by Type, Performance – Potential Analysis
5.3. Global High Speed Steel Cutting Tools Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. High Speed Steel Cutting Tools Market, Sub Segment Analysis
5.4.1. Milling
5.4.2. Drilling
5.4.3. Tapping
5.4.4. Others
Chapter 6. Global High Speed Steel Cutting Tools Market, by End-user
6.1. Market Snapshot
6.2. Global High Speed Steel Cutting Tools Market by End-user, Performance – Potential Analysis
6.3. Global High Speed Steel Cutting Tools Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
6.4. High Speed Steel Cutting Tools Market, Sub Segment Analysis
6.4.1. Manufacturing and Automotive
6.4.2. Oil and Gas
6.4.3. Mining, and Quarrying
6.4.4. Agriculture, Fishing, and Forestry
6.4.5. Construction
6.4.6. Distributive Trade
6.4.7. Healthcare and Pharmaceutical
6.4.8. Other End Users
Chapter 7. Global High Speed Steel Cutting Tools Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. High Speed Steel Cutting Tools Market, Regional Market Snapshot
7.4. North America High Speed Steel Cutting Tools Market
7.4.1. U.S. High Speed Steel Cutting Tools Market Type breakdown estimates & forecasts, 2020-2030 End-user breakdown estimates & forecasts, 2020-2030
7.4.2. Canada High Speed Steel Cutting Tools Market
7.5. Europe High Speed Steel Cutting Tools Market Snapshot
7.5.1. U.K. High Speed Steel Cutting Tools Market
7.5.2. Germany High Speed Steel Cutting Tools Market
7.5.3. France High Speed Steel Cutting Tools Market
7.5.4. Spain High Speed Steel Cutting Tools Market
7.5.5. Italy High Speed Steel Cutting Tools Market
7.5.6. Rest of Europe High Speed Steel Cutting Tools Market
7.6. Asia-Pacific High Speed Steel Cutting Tools Market Snapshot
7.6.1. China High Speed Steel Cutting Tools Market
7.6.2. India High Speed Steel Cutting Tools Market
7.6.3. Japan High Speed Steel Cutting Tools Market
7.6.4. Australia High Speed Steel Cutting Tools Market
7.6.5. South Korea High Speed Steel Cutting Tools Market
7.6.6. Rest of Asia Pacific High Speed Steel Cutting Tools Market
7.7. Latin America High Speed Steel Cutting Tools Market Snapshot
7.7.1. Brazil High Speed Steel Cutting Tools Market
7.7.2. Mexico High Speed Steel Cutting Tools Market
7.8. Middle East & Africa High Speed Steel Cutting Tools Market
7.8.1. Saudi Arabia High Speed Steel Cutting Tools Market
7.8.2. South Africa High Speed Steel Cutting Tools Market
7.8.3. Rest of Middle East & Africa High Speed Steel Cutting Tools Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Sandvik AB Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Kennametal Inc.
8.3.3. Nachi-Fujikoshi Corp.
8.3.4. OSG Corporation
8.3.5. Dormer Pramet
8.3.6. Guhring Group
8.3.7. Walter AG
8.3.8. Seco Tools AB
8.3.9. Mitsubishi Materials Corporation
8.3.10. Iscar Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now