Press release
Sales of High Speed Steel (HSS) Metal Cutting Tools Market to Increase from Top End-use Industries During the Forecast Period 2016 - 2024
Tooling is important part of the manufacturing process since machine tools are used to bore, grind, mill, tap, and form, drill, cut, shape, cut and cast, determine the quality of manufactured product. Manufacturing industries would continue to create demand for HSS metal cutting tools. The increasing focus on customer satisfaction and product quality is also helping to boost the market for high performance cutting tools.
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Market Segmentation
Basis of types
M2
M36
M42
others
By applications
automobiles
construction equipment
industrial equipment
heavy electrical machines
others
Geographical regions
North America
Europe
Asia Pacific
Row
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Regional Outlook
Major Key factors contributing to the growth of this market is increasing requirement to develop superior quality products. The Global High Speed Steel Metal Cutting Tools market has been witnessing a reduction in cost of high speed steel metal-cutting tools. However, growing preference for the carbide metal-cutting tools acts as a challenge to growth of this market.
The competition among high speed steal metal cutting tools vendors has increased rapidly. Developing countries such as Russia, Brazil, India, China and South Africa are witnessing huge investment in high performance and high quality machines. Increase in competition among HSS vendors lead to a reduction in total cost.
Key Players
The major players for this market include Addison & Co., Ltd., Inc., Bohler Uddeholm Corporation, BIG Kaiser Precision Tooling, Erasteel SAS, Kennametal, Inc., Nippon Koshuha Steel Group, Nachi America, Inc., OSG Korea Corporation, Niagara Cutter, Inc., Sandvik AB, SCHMOLZ + BICKENBACH AG, Sumitomo Electric Industries, Dormer Tools, Inc., Ltd., Tiangong International, Walter AG, and Tivoly, Inc., among others.
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