North America Carbide Tools Market Segmentation, Future Trends, Growth Overview, Key Companies and Forecast by 2028

The North America carbide tools market is expected to grow from US$ 2,762.22 million in 2021 to US$ 3,735.43 million by 2028; it is estimated to grow at a CAGR of 4.4 % from 2021 to 2028. Growing demand for enhanced carbide cutting tools is expected to surge the market growth. The carbide cutting tools form an essential part of industrial tools. These tools are used in metal cutting tools for several materials on heavy duty machines such as CNC (computer numerical control) lathes, engines lathes, and turret lathes. Carbide cutting tools are extensively used in machining applications owing to their features such as high-speed operations; high temperature withstanding ability, allowing the retention of the cutting edge; exceptional wear resistance, especially at the cutting edge; and ability to reduce cycle time along with ensuring prolonged working life. Several benefits of carbide cutting tools such as longer working life, extremely high heat tolerance etc.

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key companies profiled in this research study are: 
CERATIZIT S.A.
DIMAR GROUP
GARR TOOL
Ingersoll Cutting Tool Company
KYOCERA Precision Tools
Makita Corporation
MITSUBISHI MATERIALS Corporation
Sandvik Coromant

The North America region is the primary producer of metals such as iron, aluminum, and steel, which are the key metals used for metal fabrication across different sectors. In the US, the metal fabrication industry is growing, primarily due to many manufacturing industries. The metal fabrication products and solutions upgrade the metal into the end-use or intermediate products. The carbide tools manufacturers design these tools to operate on metals and metal-formed products that are fabricated in another place and are involved in re-shaping individual metal pieces by machining, forming, and joining separate parts.

Additionally, the growing production of heavy trucks and commercial vehicles is anticipated to surge the growth of the carbide tools market in the region. The presence of well-known vehicle manufacturers, such as Chrysler, Ford, and GM, is one of the major driving factors for the growth of the carbide tools market in the region. Growing production in automotive sector and better performance of carbide tools than their counterparts are the major factor driving the growth of the North America carbide tools market.

North America Carbide Tools Market Segmentation:

North America Carbide Tools Market - By Tool Type
End Mills
Tipped Bores
Burrs
Drills
Cutters
Other Tools

North America Carbide Tools Market - By Configuration
Hand-Based
Machine-Based
North America Carbide Tools Market - By End-User

Automotive and Transportation
Metal Fabrication
Construction
Oil and Gas
Heavy Machinery
Other End-user

North America Carbide Tools Market - By Country
US
Canada
Mexico

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