Cutting Tools Market Expected to Grow at a CAGR of 6.9% During the Forecast Period 2017-2022

Global Cutting Tools Market Information Report by Product Type (Hand Cutting Tools and Power Cutting Tools), by Application (Industrial, Construction, Household and Others) and By Region - Global Forecast To 2022

Market Scenario

The market for cutting tools has been segmented based on product type, application and region. On the basis of product type, the market is segmented as hand cutting tools and power cutting tools. The power cutting tools segment dominates all the product types of the market. Growing demand from industries and the increasing use of power tools for DIY & household activities, drive the demand of the power tools. On the basis of application, the market is segmented as Industrial, Construction, Household and Others. Industrial sector dominates the application segment of the market. Growing demand from industrial sector drives the demand of the market. The increase in demand for automation and rapid industrialization, foster the use of power cutting tools.

On the basis of region, global cutting tools market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America dominates the global cutting tools market. Factors such as high labor cost and growth in the distribution channel, are expected to drive the growth of the market in North America region. The Asia-Pacific region is expected to be the fastest growing region for the cutting tools. Continuously growing automotive, and manufacturing sector in countries such as China and India are driving the growth of the market in the region.

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The prominent players in the cutting tools market include Makita Power Tools India Pvt. Ltd. (India), Robert Bosch GmbH (Germany), Stanley Black & Decker, Inc. (U.S.), J.C. Bamford Excavators Limited (U.K.), ICS Cutting Tools, Inc. (U.S.), Hitachi Koki Co., Ltd. (Japan), Klein Tools, Inc. (U.S.), Snap on (U.S.), OTTO BAIER GmbH (Germany) and Hilti Corporation (Liechtenstein).

Power tools firm Hitachi Koki acquired its German rival Metabo for USD 283.4 million (Rs 1,900 crore). Metabo, a long-established power tool manufacturer in Germany, which has strong brand awareness, mainly in the European market. Additionally, in March 2017, portable tools giant Stanley Black & Decker completes the acquisition of the tooling business of Newell Brands, including Lenox and Irwin industrial cutting, hand and power tools, for USD 1.95 billion in cash.

Hence, cutting tools market is expected to grow at a CAGR of 6.9% during the forecast period.

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BRIEF TOC:
1. EXECUTIVE SUMMARY
2. RESEARCH METHODOLOGY
3. MARKET DYNAMICS
4. GLOBAL MARKET SEGMENTATION
5. REGIONAL MARKET ANALYSIS
6. COMPETITIVE ANALYSIS
7. CONCLUSION
8. LIST OF TABLES
9. LIST OF FIGURES

The report for Global Cutting Tools Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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