Press release
The High Speed Steel Market Is Projected To Expand At A CAGR Close To 7% Through 2031
The global high speed steel market is projected to expand at a CAGR of close to 7% throughout the assessment period of 2022 to 2031, and cross a valuation of US$ 4.5 Bn in 2031. M grade high speed steel to dominate demand with over 40% market share over the next ten years.High speed steel contributes a broad application portfolio with dedicated product offerings down the line, and experience high demand in various end-use industries. The steel market is maneuvering forward as a driving train for high speed steel, with detailed application and diversified use cases. Enlarging requirement for cutting tools from varied industries kindles high speed steel demand with prosperity and perseverance.
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Report Scope
Attribute
Details
Market forecast value in 2031
USD 4.5 Billion
Growth Rate
CAGR of 7% from 2021 to 2031
Forecast Period
2021-2031
Historical Data Available for
2016-2020
Market Analysis
US$ Mn for Value & KT for Volume
Key Regions Covered
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
Key Countries Covered
U.S.
Canada
Mexico
Brazil
Germany
Italy
France
U.K.
Spain
China
Japan
South Korea
India
GCC
Turkey
Key Market Segments Covered
Production Method
Grade
Application
End-Use Industry
Region
Key Companies Profiled
Erasteel
Kennametal
Voestalpine AG
Graphite India Ltd.
NACHI-FUJIKOSHI CORP.
Tiangong International Co. Ltd
ThyssenKrupp AG
Sandvik AB
Hitachi Metals Ltd.
DAIDO STEEL
Pricing
Available upon Request
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Key Market Segments Covered
By Production Method
Conventional HSS
Powder Metallurgy ( PM) HSS
Spray Forming (SF) HSS
By Grade
M Grade
T Grade
Advance Grade
By Application
Cutting Tools
Drills
Taps
Milling Cutters
Tools Bits
Hobbing Cutters
Saw Blades
Router Bits
Metal Cutting
Milling
Others
By End-use Industry
Automobiles
Manufacturing
Aerospace
Mechanical Engineering
Construction
Others
Region
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
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