High Speed Steel Market worth $7.3 billion by 2027 -EraSteel, Bohler, Carpenter, Hitachi, Nachi, Crucible Industries, Graphite India Limited, DSS, Sandvik, Griggs, Tiangong International, HEYE Special Steel, FEIDA, Fuda, Bewise, Jinggong, Zhongqiang Roll

The global high speed steel market is projected to expand at a CAGR of close to 7.89% throughout the assessment period of 2021 to 2032, and cross a valuation of US$ 7.3 Bn in 2032. M grade high speed steel to dominate demand with over 42.34% 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.

Some of the Major Key players profiled in the study are EraSteel, Bohler, Carpenter, Hitachi, Nachi, Crucible Industries, Graphite India Limited, DSS, Sandvik, Griggs, Tiangong International, HEYE Special Steel, FEIDA, Fuda, Bewise, Jinggong, Zhongqiang Roll

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Category-wise Insights
Which Grade High Speed Steel is More Sough-after?
Applications associated with high speed steel are purely based on the chemical composition and type of material instigated into it. The proportion of chromium, vanadium, molybdenum, or tungsten decides the type of application it will be used for. This chemical composition with deep study and research can be molded into effective results and applications. High speed steel also comes in advanced grade, where there is combination of alloyed elements together with cobalt to provide exemplary hardness and toughness over convention Molybdenum grade and tungsten grade high speed steel.

Such advanced grade high speed steel carries high wear and tear strength with improved tool life. Continuous innovations in product composition are adding value to the HSS grade with advances capabilities.

Global High Speed Steel Market Segmentation:

High Speed Steel Segmentation by Type:

T Type, M Type.

High Speed Steel Segmentation by Application:

Metal Cutting Tools, Cold Working Die, Roll

KChina to Dominate the Asia-Pacific Market
In Asia-Pacific region, China is the largest economy, in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The outbreak of COVID-19 has further affected the economy at present. The GDP growth is expected to dip significantly after the outbreak of COVID-19. However, the country is expected to rise from such fluctuations in economic performance over the forecast period.
The automotive industry is one of the key manufacturing sector in the country. The country produces more than half of the automobile in the Asia-Pacific region. However the country is facing slowdown in the production from past two years. In 2018 the production declined by 4.2% and in 2019, it declined by 7.5%. This is due to the low domestic demand, high labor cost, penetration of manufacturing facilities to other Asian countries, US-China trade war and recently occurred COVID-19 outbreak.
These factors are expected to negatively affect the automotive manufacturing and is likely to affect the demand for high-speed steel from the automotive industry.
The new automotive purchases in China declined for 20 straight months (till February of 2020) halting a growth march that had started in the 1990s. This situation had its impact on the demand of high-speed steel tools in automotive applications and is successful in presenting challenges to the market. However there are chances of improvement in automotive industry outlook in China during the forecast period, which might induce positivity in the domestic market.
The aircraft parts and assembly manufacturing sector in the country is growing at a rapid pace, with the presence of over 200 small aircraft parts manufacturers. Major manufacturers are concentrated in Nanchang, Shanghai, Chengdu, Xi'an, Harbin, Shijiazhuang, and Shenyang. The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China is expected to be the world's largest single‐country market for civil aircraft sales, over the next 20 years.
Such developments are expected to contribute to the demand for high-speed steel in the country during the forecast period.
The cost analysis of the Global High Speed Steel Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

Key questions answered in the report include:

who are the key market players in the High Speed Steel Market?
Which are the major regions for dissimilar trades that are expected to eyewitness astonishing growth for the High Speed Steel Market?
What are the regional growth trends and the leading revenue-generating regions for the High Speed Steel Market?
What will be the market size and the growth rate by the end of the forecast period?
What are the key High Speed Steel Market trends impacting the growth of the market?
What are the major Product Types of High Speed Steel?
What are the major applications of High Speed Steel?
Which High Speed Steel Services technologies will top the market in next 7 years?

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Competitive Landscape
The global high speed steel market is partially consolidated with the major players accounting for a large share of the market. Some of the key players in the market include ERASTEEL, Heye, NIPPON KOSHUHA STEEL CO., LTD., voestalpine BÖHLER Edelstahl GmbH & Co KG, and Sandvik AB, among others

Table of Contents

Global High Speed Steel Market Research Report 2022 - 2029

Chapter 1 High Speed Steel Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global High Speed Steel Market Forecast

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